Yahoo Movies TD Bank opens new branch in Charlotte region — 10 years after it closed
A New Jersey-based bank is opening a new branch in the Charlotte region — after closing the building a decade ago.
TD Bank is opening its office along Charlotte Highway in Fort Mill, S.C., according to paperwork filed with the Office of the Comptroller of the Currency.
The bank closed a branch there in 2013, Hugh Allen, regional president of the mid-South, said in a statement this week. But TD Bank maintained the lease on the property, Allen said, and will re-open the location next year.
TD wanted to offer more of its services to residents in the growing area, Allen said.
The 3,583 square-foot branch will follow an “advice center” format, designed to foster conversations with customers, Allen said. The branch will have adaptable sit-stand workstations, as well as traditional teller stations and a drive-thru ATM.
Most of the Charlotte’s region’s retail banking scene is dominated by three players: Bank of America, Truist and Wells Fargo. Charlotte-based Bank of America alone accounts for 62% of the metro area’s deposit market.
READ MORE: Where bank branches are closing and opening in Charlotte
No further plans to expand in Charlotte
TD Bank doesn’t have any branches in Charlotte proper, Allen said, but it has a presence here through its real estate, middle market and commercial lending businesses.
The bank has 11 offices in North Carolina, according to the Federal Deposit Insurance Corporation.
The bank doesn’t have any plans to expand in the Charlotte region this side of the state line, Allen added, but high-growth cities along the East Coast are “always something we’re paying attention to and considering.”
TD Bank, based in Cherry Hill, New Jersey, has 62 offices in South Carolina, including one other location in Fort Mill. The bank entered the North and South Carolina market when it acquired South Financial Group, then based in Greenville, S.C., in 2010.
According to FDIC data, TD Bank has about 0.24% of the deposit market in North Carolina, or about $1.19 billion worth of deposits. In South Carolina, it’s 5.4% or about $6.3 billion in deposits.
