Commerce Bank offically no more, welcome in the new era of TD Bank.

It's Official!  I am writing my first post i the HobokenDirect.com blog.  The concept of this blog is to keep you informed about important information vital to life in Hoboken, and life in general.  

The merger between TD Bank Financial Group and Commerce Bank was completed back in March of 2008.  However the transition from the Commerce brand to the TD brand was made offical this Monday when the exterior signs were replaced on the front of the landmark bank at 47 Newark Street.

The Philedelphia Business Journal is reporting that 

"TD Bank said the deal will make it the seventh-largest North American bank by branches with 2,100 -- almost 1,100 which are located in the United States. TD Bank officials have said evaluation of branch overlap in areas such as New York, New Jersey and Pennsylvania are ongoing but there have been no decisions about how many sites, if any, will be closed.

TD Banknorth President and CEO Bharat Masrani will serve as the combined bank's CEO. He has said he will spend time in Maine and New Jersey, and said earlier this month that he plans to buy a home in the Philadelphia area. There were no immediate announcements about the roles of Commerce's top executives, including Chairman Dennis DiFlorio, CEO Robert Falese and Chief Financial Officer Douglas Pauls."

Most Importnatly to ex-commerce bank users is...

"TD said it plans to keep the Commerce model built on customer convenience and fast branch expansion. Commerce branches will offer seven-day banking with the same long hours, strong customer service and popular conveniences including penny arcades and treats for children and dogs. He said TD Banknorth customers will have longer hours and a wider range of ATMs."

As an ex-commerce bank user I must say that the hours and service were the best in the business and I am glad they are keeping these aspects alive.  As the world financial system lurches forward we will definatly see more mergers, aquisitions, failures, and government takeovers.  TD Bank 's financial picture looks strong, but in these times and days of off balance sheet "assets" I could be completely mistaken.   For now my bet is on the TD Bank brand will stand for a few years.