On Saturday, TD Bank's presence in the Wilmington market will grow by 50%.

The New Jersey-based bank will open a new branch at 1100 Town Lake Drive in Leland, adding to its existing locations on College Road in Wilmington and on U.S. 17 in Hampstead. The branch will offer a full range of services from an ATM and six-day-a-week lobby and drive-thru hours to foreign currency exchange and notary services.

Saturday's St. Patrick's-themed ribbon-cutting event takes place from 9 a.m. to 1 p.m. and features food trucks, prizes and the opportunity to meet Leland branch manager Mike Berkovich and his staff.

Was the decision to open in Leland a reflection of the growth happening in northern Brunswick County?

"Yes, that was certainly part of the decision to open a store in Leland," Linda McGuigan, TD's retail market president, Mid-South Metro, said Friday. "North Carolina is experiencing a lot of in-migration and Leland is a fast-growing town with population growth of 8 to 9% in the last several years. We look forward to welcoming old and new customers to our new store."

Those "old" customers might well be former residents of the Mid-Atlantic and Northeastern U.S., where TD has a strong presence.

Why open a new branch when many banks are closing branches?

"TD has been evaluating how we can best interact with our customers during this time," McGuigan said. "We are prioritizing opening stores in areas that provide an essential touchpoint for local residents that may not have easy access to a store or prefer to bank in person. Our expansion in the state of North Carolina has been a project our team has been dedicated to the past few years so we are excited to be able to bring a location to the greater Wilmington area."

McGuigan said TD is investing in the kinds of capabilities it believes consumers are looking for, whether that's online or mobile banking or by opening new retail locations in high-demand markets.

"While digital adoption is on the rise, we know our customers still value banking in-person when it comes to making important financial decisions," she said. "In 2023, we opened five retail locations in Charlotte, and we look forward to expanding our existing presence and advice-based approach to banking to the Wilmington area." 

Last May, TD CEO Bharat Masrani announced the bank planned to open 150 new branches by 2027, largely in South Florida, Atlanta and North Carolina. That expansion has already begun, with TD eyeing opportunities in growing communities. It entered the greater Charlotte market in May and now has five locations there.