TD Bank to close three state branches

Looks to cut costs in down economy

By Todd Wallack

Globe Staff / November 19, 2011

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TD Bank, one of the largest regional banks on the East Coast, plans to close seven branches in February, including three in Massachusetts, a spokesman said. The decision is the latest move by banks across the country to try to streamline their branch networks to reduce duplication and cut costs. Bankers say they are under increasing pressure to reduce expenses because of the weak economy and new regulations, such as ones limiting service fees from overdrafts, debit cards and credit cards.

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