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Jax Daily Record Monday, Oct. 25, 202105:00 AM EST

TD Bank sees strong market in Jacksonville

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Regional President, Florida Metro Nick Miceli said growth includes bank branches and an operations center.
by: Katie Garwood Staff Writer

While some banks are reducing their physical bank branch footprints, TD Bank plans to add more in Northeast Florida. 

But they may not look the same as before.

Nick Miceli, TD Bank regional president, Florida Metro, said that in addition to the bank adding a 30,000-square-foot operations center in Jacksonville, it also will add several new retail branches to the market. 

Miceli said he and his team “feel very strongly” that there still is a need for bank branches, but not in the way they historically have been used. 

“We’re seeing less transaction volume,” he said. 

“We are seeing a level of people coming into our stores for advice, for conversation, for planning, for strategy.”

The new stores will be smaller, he said. Now, a bank branch is about 3,400 square feet. New locations will be 1,700 to 1,800 square feet.

New bank branch sites could be announced in the next 90 days, Miceli said Oct. 13.

TD Bank, with its U.S. headquarters in Cherry Hill, New Jersey, has three bank branches in Northeast Florida. 

“It’s a very strong market where there’s a lot of opportunity for growth,” Miceli said.

Aside from branch locations, TD Bank is renovating 30,000 square feet in Deerwood North for an operations center. It is expected to be completed by spring 2022. 

Miceli did not have an estimate of the investment the bank is making to build out the center and add new branches.

Between the service center and future bank branches, TD Bank plans on adding 250 jobs in the market.

Miceli said as Jacksonville grows, it makes sense to add more services to keep up with demand and take advantage of a strong labor market. 

“There is a need for us to be able to add to our physical presence as Jacksonville has grown to be able to service the community,” Miceli said. 

“The growth that Jacksonville has seen from a population perspective has only encouraged our desire, and the workforce there has only encouraged our desire to expand.”

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