TD Bank: Honey, I shrunk the store
By Margie Manning
Tampa Bay Business Journal
Published: Sep 2, 2015

TD Bank is about to take the wraps off its new Naples branch office, a prototype that reflects the bank's response to changing consumer behaviors.

The store - what TD calls its branches - features a more compact layout, enhanced ATM technology and an unconventional staffing model. It's just the second "concept store” for TD Bank; the first opened last year in Baltimore. The Naples store will open on Sept. 8, two days before a similar store opens in Manhattan.

Banks everywhere are taking new approaches to their brick-and-mortar offices, as consumers increasingly use digital banking for everyday transactions, but still visit banking centers for in-person advice, research firm SNL Financial reported. TD Bank was the most active branch opener in the first quarter of 2015, according to SNL.

The Naples store marks the bank's entrance into southwest Florida, a market that's rich in opportunity for TD Bank, said Ernie Diaz, regional president in Florida. Because TD Bank is a subsidiary of The Toronto-Dominion Bank (NYSE: TD), "it makes sense for us from a cross-border standpoint, because so many Canadians visit Florida” Diaz said.

The Naples store has no teller line; instead, customer solutions associates act as concierges. It also has a Smart ATM, which Diaz called user-friendly, dispensing a wide variety of currency denominations, among other features. "It's the future of where ATMs are going,” Diaz said.

The store, at 375 5th Ave. South in downtown Naples, shares space with TDAmeritrade. Wealth management and commercial bankers will be on the second floor of the building.

TD Bank has about 160 offices in Florida, including 23 in the Tampa Bay area. It's the 10th largest bank in the United States, with $235 billion in total assets and 1,300 locations from Maine to Florida.