The institution behind the familiar brand
TD Bank, National Association is the U.S. national bank identified by FDIC certificate 18409. Its June 30, 2026 reported assets were US$342.804 billion, placing it thirteenth in this series’ ranking of domestically chartered FDIC-insured banks and savings institutions. That is a bank-level figure, including its reporting perimeter, rather than the assets of the Canadian parent or all TD businesses. The underlying FDIC amount, 342,803,746, is in thousands of U.S. dollars. [1]
TD Bank US Holding Company and its subsidiaries, including this bank, are collectively marketed as TD Bank U.S. The ultimate parent is The Toronto-Dominion Bank. TD Bank USA, N.A. is another legal bank and should not be merged into this profile’s financial snapshot. The U.S. business describes more than 10 million clients and approximately 1,050 locations across the Northeast, Mid-Atlantic, Carolinas and Florida; these are franchise-wide descriptions, not a separate count verified for certificate 18409. [2][5]
Customers, products and distribution
The consumer proposition combines branches, mobile access and everyday deposits. TD’s current U.S. product directory lists checking, savings, certificates of deposit, credit cards, personal loans and home lending. Its small-business offering includes checking, savings and money-market accounts, cards, loans and lines of credit. The directory also lists online and mobile banking services. Product availability describes distribution; it does not establish the underwriting terms or profitability of a particular product. [3]
The broader U.S. franchise also offers commercial banking, private banking, wealth management, auto financing and dealer commercial services. Some services are provided through subsidiaries or affiliates. A customer relationship can therefore span several businesses while the legal lender, deposit taker or investment provider differs by contract. [2]
Analysis: branch access and transaction accounts can connect a bank to recurring payroll, bill payments and business cash flows. Lending and advice can deepen those relationships, but a large customer base is not itself proof of low funding cost or strong retention. The relevant economics depend on actual balances, interest paid, service costs and the losses attached to credit products.
Funding and earnings: useful segment context, with limits
TD’s August 27, 2026 release covers the parent’s fiscal quarter ended July 31. Its U.S. Banking segment reported US$771 million of net income and a company-defined net interest margin of 3.47%, a non-GAAP ratio. That tax-equivalent measure excludes sweep-deposit arrangements, intercompany deposits and cash collateral from its asset denominator. Average deposits declined 5% year over year, including a 13% decline in sweep deposits. These are segment measures, not TD Bank, N.A. stand-alone Call Report results; the July period differs from the June FDIC snapshot. [4]
Analysis: sweep balances originate through arrangements that move customer cash into deposit accounts. Their behavior can differ from ordinary household transaction balances. A change in the deposit mix can alter funding costs and needs even if the bank continues to serve many of the same clients. A spread measure for the segment is not a verified measure for the individual bank.
The verified evidence used here does not supply comparable June 30 stand-alone bank deposits, net loans, net income or regulatory capital. No loan-to-deposit ratio or bank return-on-assets estimate is constructed from the parent’s segment figures. That limitation matters because shared branding does not make two reporting populations identical.
Credit performance and balance-sheet selection
The same July-quarter U.S. Banking disclosure reports US$227 million of provision for credit losses. Impaired-loan provisions were US$234 million, partly offset by a US$7 million recovery on performing loans. Average loan volumes were 4% below a year earlier; management attributed part of the decline to balance-sheet restructuring. These describe the segment, not a bank-only loss rate. [4]
Analysis: provisions are an accounting charge for expected losses, while recognize amounts removed from loan balances. A provision recovery can coexist with continuing borrower defaults. Likewise, shrinking a portfolio can improve its aggregate ratios without improving every remaining borrower. Mortgage, card, business and auto exposures respond to different household, collateral and industry conditions; a single aggregate statistic cannot identify all of those channels.
The AML case changes the operating model
On October 10, 2024, the OCC announced a cease-and-desist order and US$450 million civil money penalty against TD Bank, N.A. and TD Bank USA, N.A. It identified failures in transaction monitoring, customer due diligence, suspicious-activity reporting, governance, staffing and other anti-money-laundering controls. The agency imposed growth restrictions and requirements intended to prioritize remediation resources. These were supervisory findings and binding action, not merely a risk scenario. [5]
Article VI limits the specified two-quarter average of combined assets of TD Bank, N.A. and TD Bank USA, N.A., measured against their combined September 30, 2024 assets. It is not a ceiling tested against this profile’s bank-only balance or one day’s current balance. The order requires supervisory non-objection for new branches and markets, and establishes controls for new products and services. The asset restriction continues until the relevant compliance and termination conditions are met, with stated supervisory discretion. [6]
The Justice Department separately reported guilty pleas by TD Bank US Holding Company and TD Bank, N.A. in the October 2024 resolution. The bank’s plea included conspiracy to commit money laundering; the holding company’s charges included causing failures in the bank’s Bank Secrecy Act program and currency reporting. These entity-specific outcomes should not be indiscriminately attributed to every TD affiliate. [7]
Analysis: a binding asset constraint makes balance-sheet composition especially important. Replacing a lower-return exposure with a different loan can have a different effect from expanding total assets. Compliance spending, customer monitoring and decisions about markets also compete for management attention. None of those economic observations establishes when supervisors will release the restriction.
Consumer data is another distinct operational issue
The CFPB’s September 11, 2024 order addressed TD Bank, N.A.’s furnishing of consumer information and dispute handling. The Bureau found recurring inaccuracies, delayed corrections and inadequate investigations, and required US$7.76 million in consumer redress plus a US$20 million penalty. Its findings covered credit-card and deposit-account information. This was a separate case from the AML resolution. [8]
Analysis: furnishing errors can travel outside a bank into decisions made using consumer reports. The issue therefore concerns data integrity and customer outcomes as well as compliance expense. Lending performance, accurate servicing records and reliable dispute processes are related operational responsibilities, but improvement in one does not prove resolution of the others.
The unresolved question is durable remediation
In August 2026, TD said important remediation milestones remained in calendar 2026 and 2027 and estimated fiscal-2026 U.S. AML and related governance/control investment at approximately US$550 million pre-tax. Management’s work remains subject to validation, monitor review and regulatory review; an announced internal milestone is not an order termination. [4]
The OCC’s public enforcement search showed no termination date for order AA-ENF-2024-77 when checked on October 4, 2026. [9] This profile uses a dated asset ranking and selected public evidence through October 4, 2026. It does not infer confidential supervisory ratings or declare the bank’s controls effective. Subsequent bank-only financial reports, changes to the operative order and documented remediation outcomes could materially change the picture. The present combination is a substantial customer franchise, continuing banking activity and a legally constrained path for expansion.
Sources
- FDIC bank financials — June 30, 2026 asset ranking; retrieved October 4, 2026Official sourceBack to text: ↑
- TD Bank U.S. investor relations and corporate profile — current page checked October 4, 2026SourceBack to text: ↑1↑2↑3
- TD U.S. product and service directory — current page checked October 4, 2026SourceBack to text: ↑
- TD Bank Group Q3 2026 results — August 27, 2026; fiscal quarter ended July 31SourceBack to text: ↑1↑2↑3
- OCC enforcement announcement — October 10, 2024Official releaseBack to text: ↑1↑2
- OCC consent order AA-ENF-2024-77 — signed October 9, 2024; announced October 10; Articles VI and VIIIOfficial source · PDFBack to text: ↑
- DOJ New Jersey guilty-plea announcement — October 10, 2024Official sourceBack to text: ↑
- CFPB TD Bank furnishing enforcement action — September 11, 2024Official sourceBack to text: ↑
- OCC enforcement actions search — TD Bank charter 24096; checked October 4, 2026Official sourceBack to text: ↑