Business Relationship: TD Bank And Peoples Heritage Bank

Research paper TD Bank

TD Bank business relationship initially was through Portland Savings Bank in Maine during 1852 which transition into multiple merges and became People Heritage Bank in 1983. The company saw a pathway for growth as Peoples Heritage Bank and as the expansion circulated into England the name changed to Banknorth. In 2004, Banknorth latched on to TD Bank Group of Toronto, Canada based on its top 10 financial service company in North America (TD bank, 2016). TD Bank Group excelled and was Banknorth’s top shareholder, and other businesses then were known to be TD Bank north. TD Group then bought TD Banknorth in 2007 and looked to increase its territory in the U.S. While on the search to expand its territory, TB Bank Group

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The adjusted earnings per share were $1.33, compared with $1.18. The reported net income was $2,533 million, compared with $2,223 million. The adjusted net income was $2,558 million, compared with $2,247 million (TD Bank Group, 2017). In the U.S retail net income was $800 million (US$601 million) this quarter compared with $751 million (US$552 million) for the first quarter last year. The U.S Retail Bank, except the bank investment in TD Ameritrade, crated a net income of $689 million (US$518 million) an increase of 7% (10% in U.S. dollars) compared with the first quarter last year. These earnings showed good operating advantages and growth in customers, loans, and deposits (TD Bank Group, 2017). In the annual report of 2016 Net income available to common shareholders in TD's 5-year CAGR was 8.5% reported and 8.0% adjusted. The diluted share earnings per share were 7.8% reported and 7.3% fixed. The return on common equity was 13.3% reported and 13.9% improved. The total assets in 2016 were $1,177 billion of total assets as of October 31, 2016. The corporation's dividends per share were 10.6% TD's % year CAGR and 6.6% Canadian peers 5-year CAGR. The total shareholder's return in 5-year CAGR is 14.2% and 12.6% Canadian peers (TD Bank Group,