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TD to Close 82 U.S. Bank Branches as Covid Drives Digital Growth

Signage is displayed outside a Toronto-Dominion Bank branch in New York, New York, US., on Saturday, April 20, 2019. 

Toronto-Dominion Bank said it will close 82 bank branches in the U.S. as part of a “store optimization” in its American unit, where net income dropped in the fiscal first quarter.

Signage is displayed outside a Toronto-Dominion Bank branch in New York, New York, US., on Saturday, April 20, 2019. 

Toronto-Dominion Bank said it will close 82 bank branches in the U.S. as part of a “store optimization” in its American unit, where net income dropped in the fiscal first quarter.

Photographer: Gabby Jones/Bloomberg

Toronto-Dominion Bank said it will close 82 bank branches in the U.S. as part of a “store optimization” in its American unit, where net income dropped in the fiscal first quarter.

Greg Braca, chief executive officer of Toronto-Dominion’s TD Bank U.S. unit, announced the number of closures during the company’s earnings conference call Thursday. Toronto-Dominion said in a filing earlier in the day that earnings at the U.S. retail bank fell 16% to $615 million, including a 6% increase in expenses that was primarily the result of branch closures.