Toronto Dominion Bank - TD STOCK NEWS

TD Bank has appointed Ralph Bumbaca as Regional President of Metro New York, overseeing operations in New York City, Long Island, Hudson Valley, Upstate New York, Northern New Jersey, and Fairfield County, CT. In his new role, Bumbaca will lead commercial and consumer banking operations across approximately 310 stores and multiple lending teams.

With over 35 years of banking experience, including 14 years at TD Bank, Bumbaca previously served as Regional Vice President of Brooklyn, Manhattan North, and Manhattan proper regions before becoming Commercial Market President of New York City in 2019. During his tenure, he expanded NYC's commercial business development team for LGBTQ2+ and minority customers and led TD's Paycheck Protection Program rollout during the pandemic.

TD Bank's 2024 Merry Money Survey reveals shifting holiday shopping trends amid economic concerns. 52% of consumers are scaling back spending due to recession anxieties, while 42% consider the election's impact on their holiday budget. Despite concerns, 79% feel confident managing their spending, with 64% planning to spend under $600 on gifts.

The survey of 2,000+ U.S. consumers shows 82% actively seeking deals, with 55% planning major purchases on Black Friday. Notable trends include a shift toward experiential gifts, particularly among younger generations, with 45% preferring experiences over physical items. Payment preferences show 42% choosing debit cards and 34% using credit cards, with rewards and security being key factors.

TD Bank's HELOC Trend Watch survey reveals homeowners are viewing their properties as key financial assets, with 66% seeing homes as generational wealth. The survey of 1,800+ homeowners shows 60% are keeping their low-interest mortgages rather than selling. Housing inventory concerns have doubled year-over-year, with 18% of owners waiting for increased supply before moving.

84% of respondents hold debt beyond mortgages, with 62% carrying $10,000+ in additional debt. Younger generations are leading in home equity usage, with 73% of Gen Z and 66% of Millennials likely to apply for HELOCs or home equity loans in the next 18 months. 54% of current HELOC users have funded renovations, focusing on cosmetic changes (40%), outdoor upgrades (37%), and eco-friendly additions (27%).

TD Bank's new survey reveals veteran-owned and -led businesses are showing cautious optimism about growth prospects. 71% cite economic conditions as their primary concern, while only 34% expect improved performance over the next year. Despite challenges, businesses see opportunities in: new customer acquisition (77%), access to capital and professional networks, and cost efficiency initiatives (52%).

The survey also highlights strong banking relationships, with 96% reporting their primary bank meets or exceeds their needs. 84% believe their bank offers cutting-edge features, with 68% prioritizing low fees and online banking features when choosing banking partners.

TD Bank has maintained its position as the #1 SBA lender in its Maine-to-Florida footprint for the eighth consecutive year in fiscal year 2024. The bank approved 4,038 SBA 7(a) and 504 loans, totaling approximately $663 million. TD secured the top ranking in eight states for 7(a) loan units and achieved the #2 position nationally.

The bank excels in SBA financing for startup franchises, medical practices, business acquisitions, partner buyouts, and owner-occupied commercial real estate. TD's success is attributed to its personalized approach and commitment to supporting small business growth through expert financial management and trusted advisory services.

TD has announced a $500,000 contribution to support relief efforts in Florida, North Carolina, and South Carolina following Hurricane Helene. The donations will be distributed to local non-profits leading recovery efforts across the three states, with $300,000 allocated to North Carolina, and $100,000 each to South Carolina and Florida.

TD is also offering an employee donation matching program, pledging to match contributions up to $50,000. The bank is providing support to affected employees through small grants and offering financial assistance to impacted customers through the TD Cares program, which includes fee refunds and other support for eligible consumers and businesses.

TD Bank has announced the launch of TD Cares, a temporary financial assistance program for customers affected by Hurricane Helene in specific regions of Florida, South Carolina, and North Carolina. The program offers support such as fee refunds for eligible consumer and business customers.

Customers seeking assistance through TD Cares can contact the bank directly with their requests. Matt Boss, Head of Consumer Banking at TD Bank, emphasized the bank's commitment to supporting the community during this challenging time, stating that their bankers are prepared to assist those in need.

For more information, customers can visit the TD Bank website, while business customers are advised to contact their relationship manager directly.

TD Bank has announced Andy Bregenzer and Jill Gateman as Co-Heads of U.S. Commercial Banking, following the upcoming retirement of Chris Giamo. In their new roles, Bregenzer will lead the Regional Commercial Bank, including Small Business, while Gateman will oversee National Commercial Banking, including Middle Market and Specialty Lending.

Bregenzer, with nearly 30 years in commercial banking, has been with TD for two decades. He previously served as EVP, Regional President for TD's NY Metro. Gateman joined TD in 2023 to lead Middle Market, Asset-Based, and Sponsor-Backed Finance business segments. She previously spent 17 years at PNC Bank as Executive Vice President and Co-Head of Corporate Banking.

Both leaders bring extensive experience in business and commercial banking, positioning them to support clients with strategic advice and industry expertise.

TD Securities (TDS) has appointed Carl Hayes as the new Head of European Cash Equities. Based in London, Hayes will report to Sharon Kim, Executive Managing Director and Region Head of Europe. This promotion supports TDS' focus on expanding its reach in European equity markets. Hayes, who joined Cowen Execution Services in 2019, has played a important role in shaping business strategy and driving execution.

The appointment aims to strengthen TDS' multi-asset capabilities and integrate market insights across asset classes. Dan Charney, Vice Chair and Co-Head of Global Markets, highlighted the team's advantage through their market-leading execution platform and award-winning content. Hayes expressed his commitment to leveraging expertise in various trading methods to enhance TDS' market position and provide value to clients.