TD Bank plans to close 20 more branches, including one in Bucks County, as part of a broader strategy to build the “bank of the future,” writes Jeff Blumenthal for the Philadelphia Business Journal.
The closures, filed with the Office of the Comptroller of the Currency, bring TD’s total closures this year to 53, following just one closure each in 2022 and 2023.
The only Philadelphia-area branch impacted is at 3933 Hulmeville Road in Bensalem. Other closures include locations in Connecticut, Massachusetts, Maine, North Carolina, New Hampshire, New York, South Carolina, and Vermont.
A TD spokeswoman confirmed this is the final batch of closures for 2024. Meanwhile, TD plans to open its first new local branch in July in Northern Liberties and has regulatory approval for another location in North Philadelphia.
TD Bank U.S. CEO Leo Salom emphasized the bank’s commitment to evolving its model and enhancing customer experience, despite ongoing discussions with U.S. regulators regarding an anti-money laundering investigation. TD aims to open nine new branches and renovate almost 100 more in 2024, maintaining its long-term growth strategy.
Read more about the TD Bank closures regionally in the Philadelphia Business Journal.
TD admits failure to stop money laundering at U.S. branches
