TD Bank's growth keeps new regional president hopping
Brian R. Monday, the new president for TD Bank's metropolitan Washington and North Carolina region, has a lot on his plate. The 28-year veteran banker must continue to expand the institution's presence in the Washington area while overseeing some of the integration of Carolina First Bank, one of two institutions TD Bank recently folded into its portfolio.
Locally, Monday, who was previously senior vice president of middle-market banking, is seeking to add more commercial lending specialists as the Canadian-owned bank broadens its reach into the health-care and nonprofit sectors.
"We've seen more not-for-profit organizations start to look at their space and some of the opportunities that are out there in making purchase decisions," said Monday, who joined TD Bank in 2004. "There is a small wave of people starting to open themselves up and feel better about where we're heading."
Monday said TD Bank increased its commercial lending in the Washington area some 50 percent last year, and hopes to replicate that growth in the coming year. Demand, he pointed out, is still sluggish, as businesses shy away from spending on new equipment and expansion. At the same time, however, Monday notes an increase over the past six months in requests and agreements to support local mergers and acquisitions, particularly in the government contracting sector.
TD Bank, which has amassed 37 branches in the area since acquiring Commerce Bank in 2008, is still on track to launch another 200 locations in the Washington area. It is the 15th-largest local bank, with $1.4 billion in deposits. "We're in the middle of a growth phase," Monday said. "And the retail side of our business is a huge emphasis for this year."
A part of that retail focus means expanding the private banking practice, with a team dedicated to wealth management, including discretionary investments and mortgage lending. That initiative, Monday said, will get underway at the start of the new calendar year.
Monday's promotion comes on the heels of the completion of the $61 million South Financial Group merger, which netted TD Bank Florida's Mercantile Bank and Carolina First Bank in the Carolinas. The deal added $9.8 billion in deposits while giving TD Bank an additional 66 branches in Florida and offering it entry into the Carolinas with 83 branches in South Carolina and 27 branches in North Carolina.
Kevin Gillen, the former regional president of the Washington area and Florida, is now solely charged with the Florida market and the integration of Mercantile. The full conversion and rebranding of all three banks will get underway next year.
"We're continuing to look for growth opportunities that make sense," Monday said. He expects to spend a fair amount of time overseeing the expansion into North Carolina, and is confident that his Washington area support staff, which includes local market President Terrence S. Kenny, "gives us the kind of depth to do multiple things at once."