In The News

For: Shoppers Charge Accounts, Mahwah, NJ
From: Parness & Associates, Aberdeen, NJ

For Immediate Release

C. FRANCIS LAPID NAMED CFO OF SHOPPERS CHARGE ACCOUNTS COMPANY, A DIVISION OF TD BANKNORTH IN MAHWAH

MAHWAH, N.J. (12/10/07) - C. Francis Lapid has been named Chief Financial Officer of Shoppers Charge Account Company, a division of TD Banknorth in Mahwah, N.J. He is responsible for financial planning, management and control, accounting, and pricing for the private label credit card business, with the objective of delivering ongoing profitability and growth of the business in the U.S., Canada and Puerto Rico.

Lapid has 20 years of experience in banking and product management. Prior to joining TD Banknorth, he served at JPMorgan Chase as VP of Product Management for Commercial Card Products. He also has served in upper-level management positions at Sears Roebuck & Co., Chase Manhattan Bank and Citibank.
           
Lapid, who presently lives in Palatine, Illinois, will be relocating to the area. He received an MBA in 1987 from the Wharton Graduate School of Business at the University of Pennsylvania in Philadelphia, and a Bachelor’s degree in Management in 1981 from Ateneo de Manila University in Manila, Philippines.

About Shoppers Charge Accounts Co.
and TD Banknorth, N.A.
           
Headquartered in Mahwah, N.J., Shoppers Charge Accounts Co. (SCA) ranks among the nation’s largest private label credit card companies. A division of TD Banknorth, N.A., the company launches and administers new credit card portfolios for brick-and-mortar, internet and catalog merchants, and acquires retailers’ existing credit card portfolios.

TD Banknorth Inc. is a leading banking and financial services company headquartered in Portland, Maine and a wholly-owned subsidiary of TD Bank Financial Group headquartered in Toronto, Canada. TD Banknorth is one of the 25 largest commercial banking organizations in the United States, with over $40 billion in assets. TD Banknorth's banking subsidiary, TD Banknorth, N.A., operates banking divisions in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania and Vermont. TD Banknorth and TD Banknorth, N.A. also operate subsidiaries and divisions in insurance, wealth management, merchant services, mortgage banking, government banking, private label credit cards, insurance premium financing and other financial services and offers investment products in association with PrimeVest Financial Services, Inc. For more information, visit http://www.TDBanknorth.com.