TD Bank to Expand in Charlotte, North Carolina, with New Stores

Rhea-AI Summary

TD Bank plans to open approximately 15 new stores in Charlotte, North Carolina, by 2025 to accommodate population growth. The first two locations will open in summer 2023. At least 25% of these branches will be in low-to-moderate income areas. This expansion is expected to create around 100 jobs, increasing the bank's presence from 11 to 15 branches in the state. TD Bank aims to enhance services offered and meet growing consumer demands in a rapidly developing market.

Positive

• Expansion to add approximately 15 new locations in Charlotte by 2025.
• Creation of about 100 full- and part-time jobs.
• 25% of new branches in low-to-moderate income areas.
• Strengthens TD Bank's market presence in a rapidly growing area.

Negative

• None.

Expansion brings critical financial services to rapidly expanding metro area

CHERRY HILL, N.J., Sept. 15, 2022 /PRNewswire/ -- TD Bank, America's Most Convenient Bank^®, announced today that it currently plans to build approximately 15 stores in Charlotte, North Carolina, by 2025 to serve the city's rapidly increasing population. The bank anticipates opening an initial set of stores in summer 2023 at 2020 Beatties Ford Road and 6611 Carmel Road.

At least 25% of the total retail banking locations will be in majority-minority or low-to-moderate (LMI) income areas to ensure more residents have neighborhood access to a bank and financial services, including the Beatties Ford location.

"Charlotte is one of the fastest-growing markets in the country, with significant economic and population growth," said Leo Salom, President and CEO, TD Bank. "We recognize the need for many consumers to obtain convenient access to banking services and we look forward to serving these diverse communities."

The new locations are expected to bring approximately 100 full- and part-time jobs to Charlotte, adding to the bank's nearly 200 metro employees. TD Bank currently has 11 stores in North Carolina in the Western North Carolina and Wilmington areas.

TD Bank already serves customers and local businesses in Charlotte and has had a non-retail presence in the metro in several services – including Commercial Real Estate, Middle Market and Commercial lending segments – since 2013. TD plans to expand its market share in these areas as well, and recently hired two Middle Market relationship managers in Charlotte to further serve the region's mid-size, nonprofit and higher education organizations.    

"The greater Charlotte area is increasingly attractive to new residents and companies, and TD Bank is well positioned to serve all customers and businesses, wherever they are on their financial journey," said Hugh Allen, Regional President of the Mid-South Metro, TD Bank.

TD stores offer a variety of products and services, including personal checking and savings accounts, small business checking and savings accounts, mortgages, credit cards, home equity lines of credit and personal loans. In addition to teller counter and drive-thru service, many locations include an advice center for customers.

"A key part of TD Bank's culture is our passion for our customers and communities and creating legendary experiences that highlight our Unexpectedly Human brand," said Ernie Diaz, Head of Consumer Distribution, U.S. Wealth and TD Auto Finance, TD Bank. "We are excited to provide Charlotteans our relentless focus on customer centricity and a modern, convenient banking experience."

About TD Bank, America's Most Convenient Bank^® 

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing over 9.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth^®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.  

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com/us. 

 

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SOURCE TD Bank

FAQ

What is TD Bank's expansion plan in Charlotte North Carolina?

TD Bank plans to open approximately 15 new stores in Charlotte by 2025, with the first two locations opening in summer 2023.

How many jobs will TD Bank's expansion create in Charlotte?

The expansion is expected to create around 100 full- and part-time jobs.

What percentage of new TD Bank branches will be in underserved areas?

At least 25% of the new branches will be located in majority-minority or low-to-moderate income areas.

Why is TD Bank expanding in Charlotte?

TD Bank is expanding to meet the needs of Charlotte's rapidly growing population and enhance community access to financial services.

What services will TD Bank offer at new locations in Charlotte?

TD Bank will offer personal checking, savings accounts, mortgages, credit cards, and more at the new locations.