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Commerce Bank and TD Banknorth to Re-Brand as TD Bank, America's Most Convenient Bank
PORTLAND, Maine and CHERRY HILL, N.J., July 23 /CNW/ -- Today, Commerce Bank and TD Banknorth announced that they will change the brand name for their combined operations to TD Bank, America's Most Convenient Bank, in place of the previously announced TD Commerce Bank name. (Logo: http://www.newscom.com/cgi-bin/prnh/20080723/NEW052LOGO ) "We have decided to move forward with the re-branding of Commerce and TD Banknorth as TD Bank, America's Most Convenient Bank. While this reflects a change, we are passionate about living the promise of being 'America's Most Convenient Bank' and providing our Customers with legendary Customer service from Maine to Florida," said Bharat Masrani, President and Chief Executive Officer of TD Bank, N.A. This decision is due to a legal challenge, where a federal court has provisionally prevented the company from using the TD Commerce Bank name on signage and marketing materials in certain Massachusetts counties. "In our view, the well-recognized TD name combined with Commerce Bank clearly distinguished us from other banks with Commerce in their name," Masrani added. "We're disappointed that the Court felt differently, but rather than spend countless time as well as valuable resources fighting this legal challenge in court, we have decided to remain focused on our Customers and Employees and move forward under our new brand name of TD Bank, America's Most Convenient Bank." The name retains the green TD shield as a recognized sign of strength in financial services, as well as the unique positioning of "America's Most Convenient Bank." This creates a powerful brand identity that resonates with Customers and is a clear differentiator as the company expands into new markets. "We're pleased to have this issue behind us and look forward to introducing TD Bank, America's Most Convenient Bank, to our Customers in the Mid-Atlantic and Florida this fall," said Ed Clark, President and Chief Executive Officer of TD Bank Financial Group. "We're excited about building out our North American presence and are confident that we will continue to WOW! our Customers whether they're in Boca Raton, Boston, Manhattan or Montreal." The company intends to follow its original schedule for a comprehensive re-branding effort for its 1,100 combined Store network. Current Commerce Bank Stores will be the first to re-brand as TD Bank, America's Most Convenient Bank, starting in fall of 2008. Current TD Banknorth locations will finish re-branding in 2009. In addition, the company will announce a new name for the TD Banknorth Garden by the end of 2008, with re-branding activities taking place in 2009. For Commerce Bank and TD Banknorth Customers, it is business as usual. Customers can continue to count on the same great hours, legendary service from the same friendly Employees, and the company's commitment to unparalleled convenience from Maine to Florida. Please visit Commerceonline.com, TDBanknorth.com or a local Store to learn more about TD Bank, America's Most Convenient Bank. About TD Banknorth and Commerce Bank Following TD Bank Financial Group's acquisition of Commerce Bancorp Inc. on March 31, 2008, TD Banknorth and Commerce Bank merged on May 31, 2008 to form TD Bank, N.A., one of the 20 largest commercial banking organizations in the United States with over $119 billion in assets, and provide customers with a full range of financial products and services at nearly 1,100 convenient locations from Maine to Florida. TD Banknorth and Commerce Bank are trade names of TD Bank, N.A. For more information, visit www.TDBanknorth.com and www.commerceonline.com.
For further information: Jennifer Carlson, +1-207-761-8762, or Rebecca Acevedo, +1-856-470-3201, both for Commerce Bank and TD Banknorth Web Site: http://www.commerceonline.com http://www.TDBanknorth.com
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