Toronto-Dominion Bank said Thursday that adjusted earnings from its U.S. personal and commercial bank operations rose nearly 30%, to $276 million, in its fiscal third quarter compared with a year earlier.
The company has aggressively expanded across the U.S., including the acquisitions in April of the coveted Riverside National Bank of Florida and two other failed community banks in Florida.
Its adjusted net earnings of $276 million for the period that ended July 31 were up 14.5% from the previous quarter and 29.6% from a year earlier.
Revenue also increased 17% year over year, to $176 million.
Toronto-Dominion said the jump in revenue "was primarily due to broad-based growth across all businesses and categories including strong retail fee growth" after it adopted a new pricing structure at the old Riverside operation and the former Commerce Bancorp of Cherry Hill, N.J., which it bought in 2008.
