TD Bank To Close Chatham Branch

By: Tim Wood

Topics: Business

TD Bank's Chatham branch will close in January. TIM WOOD PHOTO

CHATHAM – TD Bank will close its branch at 693 Main St. in January.

Customers were informed of the closure in a letter dated Oct. 17. Retail Market President Marion Colombo wrote that the branch office will close on Jan. 27.

A call to the branch was referred to the company's corporate offices, which had not contacted The Chronicle as of Thursday afternoon.

The letter encourages customers to continue to use mobile and online banking tools, as well as referring them to branches in harwich Port, Orleans and Brewster. The bank has 16 locations on Cape Cod, and more than 1,300 nationwide. According to its website, it is one of the 10 largest banks in the U.S. with approximately 26,000 employees. The company grew out of Banknorth, which had its roots in the Portland Savings Bank in Portland, Maine, which first opened its doors in 1852. TD Bank Group of Toronto began acquiring shares of Banknorth in 2004, changing the company's name to TD Banknorth. It completed its acquisition in 2007. The Cherry Hil, N.J.-based company was renamed TD Bank a year later, according to the website.

According to assessors records, the Main Street property is owned by TD Banknorth; its address is listed as Jericho, N.Y. The property is valued at $1.2 million. The site was formerly Cape Cod Bank and Trust Co., which was acquired by Banknorth in 2003.

See next week's edition for more on this story.