TD Banknorth, which is 51\% owned by the TD Financial Group , has come to a deal with the  Hudson United Bancorp . TD Financial group will be acquiring the community bank for $1.9 billion U.S. The new addition to the financial group will give them 204 new branches across New Jersey, New York, Connecticut and Pennsylvania. In total this will give TD 590 branches, 751 banking machines and more than $ 26-billion U.S. in deposits across eight northeastern states. Hudson specialises in commercial real estate, consumer and credit card loans to individuals and businesses. The bank also had $8.85 billion US in assets at the end of it's first quarter, on March 31. The company's shares had been dropping in the course of the past year because of allegations of money-laundering violations and after an earnings warning, making it a good steal for TD. The acquisition will greatly increased TD's influence in America   .
Canadian TD Financial Group has come to a deal with the regional U.S. bank, Hudson United Bancorp , to buy Hudson for US$1.9 billion. The new addition will be folding into itsMaine-based TD Banknorth, which is 51\% owned by TD Financial. The acquisition will bring in 204 new branches and increase TD's footprint to New Jersey, New York, Connecticut and Pennsylvania. In total this will give TD 590 branches, 751 banking machines and more than US$ 26-billion in deposits across eight northeastern states. Hudson specialises in commercial real estate, consumer and credit card loans to individuals and businesses. The bank also had $8.85 billion US in assets at the end of it's first quarter, on March 31. The company's shares had been dropping in the course of the past year because of allegations of money-laundering violations and after an earnings warning, making it a good steal for TD. The acquisition will greatly increased TD's influence in America . This continues the recent trend for Canadian banks expanding into the U.S. where regulation on bank mergers is less strict than in their home country .
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TD Banknorth, which is 51\% owned by the TD Financial Group ,
Canadian TD Financial Group
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regional U.S. bank,
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. TD Financial group will be acquiring the community bank for $1.9 billion U.S. The new addition to the financial group will give them 204 new branches across New Jersey, New York, Connecticut and Pennsylvania. In total this will give TD 590 branches, 751 banking machines and more than $
, to buy Hudson for US$1.9 billion. The new addition will be folding into itsMaine-based TD Banknorth, which is 51\% owned by TD Financial. The acquisition will bring in 204 new branches and increase TD's footprint to New Jersey, New York, Connecticut and Pennsylvania. In total this will give TD 590 branches, 751 banking machines and more than US$
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U.S.
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This continues the recent trend for Canadian banks expanding into the U.S. where regulation on bank mergers is less strict than in their home country