TD Targets Atlanta, Florida for Growth After First Horizon Flop
- Bank plots 150 new branches, more hiring in US Southeast
- Canadian lender’s shares tumble 4.2%, most since October
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After failing to close its largest-ever US banking acquisition, Toronto-Dominion Bank has a new strategy for growth in the Southeast — do it slowly.
Canada’s second-largest bank plans to open 150 US branches by 2027, targeting Florida, North Carolina, South Carolina and Georgia, including its first office in Atlanta, executives said Thursday. Toronto-Dominion sought expansion in the region with a $13.4 billion acquisition of First Horizon Corp., which fell apart when the bank couldn’t get timely approval from regulators.