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| Industry | Bank holding company |
|---|---|
| Founded | 2001 as Banknorth 2004 as TD Banknorth |
| Defunct | May 30, 2008 |
| Fate | Merged with Commerce Bancorp to become TD Bank, N.A. |
| Successor | TD Bank, N.A. |
| Headquarters | Portland, Maine |
| Products | Financial services |
TD Banknorth, formerly Banknorth, was a wholly owned subsidiary of the Toronto-Dominion Bank which conducted banking and insurance activities, primarily serving the northeastern area of the United States, headquartered in Portland, Maine. The bank became TD Bank, N.A. on May 31, 2008.[1]
In August 2004, Toronto-Dominion Bank became the majority owner, renaming it "TD Banknorth, N.A.", all remaining shares of TD Banknorth were acquired by Toronto-Dominion Bank on April 20, 2007.
Its operating companies were Banknorth Connecticut, Peoples Heritage Bank (in Maine), Banknorth Massachusetts, Bank of New Hampshire, Evergreen Bank (in New York), Hudson United Bank, Banknorth Vermont, and Bancnorth Insurance Group. The majority of these companies were branded as TD Banknorth of State (example "TD Banknorth of Maine").
On April 10, 2008, TD Banknorth merged with New Jersey–based Commerce Bank to form TD Bank, with joint headquarters in Cherry Hill, New Jersey and Portland, Maine. The legal name of the bank was changed to TD Bank, N.A. on May 31, 2008, with all TD Banknorth branches outside of New England and all Commerce Bank branches being rebranded in the fall of 2008. The remaining branches, in New England, took on the new name in September 2009.
- ^ James Hayman, Taken at the Flood: The Remarkable Unfinished Story of Banknorth Group, Banknorth Group, 2003.