In an $8.5 billion deal, TD Banknorth and Commerce Bank are set to merge in the coming weeks and at the close of the transaction they will be known as TD Commerce Bank.
“TD Commerce Bank will own the convenience and customer service space from Maine to Florida and will live the promise of being ‘America’s most convenient bank,'” said Bharat Masrani, president and CEO, TD Banknorth, in a statement.Â
In the next few months, the company’s 1,100 combined store network will begin a re-branding effort.
