TD Buys U.S. Retail Bank, Ups Dividend
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Toronto Dominion Bank TD.TO, Canada's  second-biggest by assets, said on Thursday it would acquire a  majority stake of U.S.-based Banknorth Group Inc. BNK.N,  while also boosting its dividend and reporting a 17-percent  rise in profits.
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TXU Corp. (NYSE: TXU) said Monday it will increase its quarterly dividend 350 percent over last quarter to 56.25 cents per share. The increased dividend -- up from 12.
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Bank of America Corp.  said on  Monday it completed its $3.3 billion purchase of the U.S. Trust  business from Charles Schwab Corp. , and is defying  analyst concern that it would have trouble retaining many of  U.S. Trust&#39;s ultra-wealthy clients.
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Cullen/Frost Bankers Inc.  on  Monday said it agreed to buy Summit Bancshares Inc.   for &#36;363.5 million of cash and stock in a merger of two Texas  banks.
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Banknorth Group Inc. of Portland and TD Bank Financial Group of Toronto announced a merger Thursday that gives Banknorth money to expand while setting the stage
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U.S. stocks gained on Thursday after news Bank of America  is in advanced talks to buy struggling mortgage lender Countrywide Financial Corp .
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First-quarter income at the Toronto-Dominion Bank fell from a year ago, when the bank recorded a special gain, but strong Canadian retail banking and wealth management produced robust results. Toronto-Dominion earned 921 million Canadian dollars ($793 million), down from 2.31 billion Canadian dollars a year earlier, when the bank posted a gain of 1.67 billion Canadian dollars from the sale of TD Waterhouse U.S.A. to Ameritrade. Revenue in the quarter, which ended Dec. 31, was 3.47 billion Canadian dollars, up from 3.40 billion Canadian dollars. Earnings at the wealth management segment, which includes the bankâs 40 percent stake in TD Ameritrade, jumped 35 percent, while profit at TD Canada Trust, the domestic personal and commercial banking unit, rose 14 percent.
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Merrill Lynch &amp; Co., in its biggest acquisition in almost 10 years, agreed to buy First Republic Bank for $1.8 billion to gain clients with an average net worth of $20 million.
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A Canadian banking group has reached an agreement to acquire a controlling interest in the parent of Evergreen Bank of Glens Falls.
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The Toronto-Dominion Bank cautiously entered the United States consumer banking market with a $3.8 billion deal to acquire 51 percent of the Banknorth Group of Maine.
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Bank of America Corp.  on Monday said it will buy Charles Schwab Corp.'s  U.S. Trust Corp. unit for $3.3 billion to expand in the lucrative business of managing money for the rich.
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Canada's Toronto Dominion Bank TD.TO  said on Wednesday that it is in talks with U.S.-based Banknorth  Group BNK.N about a possible deal.
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BlackRock Inc. BLK.N, one of the  largest U.S. fixed income managers, on Thursday said it will  buy its far smaller competitor State Street Research &  Management Co., marking the biggest takeover in the asset  management business this year.
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Best Buy Co. Inc.  said on Wednesday it would open more North American stores than previously planned, buy back $5.5 billion in stock and raise its dividend by 30 percent.
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The nation&#39;s largest bank will be setting up shop in Texas by acquiring Bryan-based First American Bank. The parent operation of Citibank said Tuesday that it will acquire First American, which has $3.
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The retail company has another positive quarter and is buying back shares.
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Bank of Montreal, Canada&#39;s fifth largest bank, said Wednesday it plans to buy privately held Mercantile Bancorp Inc., as well as the stock of Lake Commercial Corp.