TD Bank to close 81 branches, two in Vermont

Google Maps image of TD Bank branch on Main Street in Waitsfield.

Vermont Business Magazine TD Bank will be closing 6 percent of US branches in the United States in April. This includes two in Vermont, in Richmond and Waitsfield. The closings were reported to the US Office of the Comptroller of the Currency in January. See full list below. TD Bank is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto.

TD Bank sent the following statement to VBM: "As one of the top 10 banks in the US, TD is continually evolving the way we serve our customers and communities to best meet changing customer expectations and behaviors, remain competitive and drive long-term growth. We strive to deliver an optimal mix of convenient TD Bank locations and digital banking products and services that are second to none. With those goals in mind, we regularly evaluate our existing TD Bank stores and new locations.

"After a thorough review, we have decided to close 81 stores, or just over 6%, of our 1,223 stores in the US, effective April 23, including the following stores in Vermont:

• 23 Pleasant Street, Richmond
• 5070 Main Street, Waitsfield

"In reaching a decision to close specific TD Bank stores, we consider many business factors, including the number of customers visiting our stores, transaction volumes, the location's proximity to other TD Bank stores and the number of customers who use multiple store locations. We have already begun notifying impacted customers. Our goal is to make this transition as smooth as possible for them.

"Some TD employees will be impacted by the store closings, although the bank is continuing efforts to redeploy impacted employees. TD is committed to treating our impacted colleagues fairly and with respect and supporting them with resources to assist with the transition.

"Our stores remain an important pillar of our strategy and we are committed to reinvesting across our footprint, which could include store renovations, new store locations, or the expansion of our ATM Network, while continuing to make further investments in our digital and mobile platforms in response to evolving customer preferences. We remain committed to our customers, our colleagues and the communities that we serve, and look forward to continuing to provide outstanding service to our customers via whatever channel they choose."

US Office of the Comptroller of the Currency

Source: TD Bank. 2.9.2021 & US Office of the Comptroller of the Currency.