Fed Approves Toronto-Dominion's Purchase Of S. Carolina Bank
22 Juillet 2010 - 11:33PM
Dow Jones News
The U.S. Federal Reserve on Thursday cleared the way for
Canada's second-largest bank to purchase South Carolina's South
Financial Group Inc. (TSFG).
The transaction would make Toronto-Dominion Bank's (TD, TD.T)
U.S. subsidiary holding company, TD Bank US HC, the 17th-largest
depository institution in the U.S., giving it total consolidated
assets of approximately $167 billion.
South Financial Group has total consolidated assets of about
$12.4 billion and has operations in South Carolina, North Carolina
and Florida.
-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-6629;
meena.thiruvengadam@dowjones.com
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