ng our footprint Taking the Time to Build Relationships The WellSpan win was not just the result of TD Bank’s top flight knowledge of the healthcare industry – it also owes a great deal to perseverance!
Metro Philadelphia healthcare lenders headed into Central Pennsylvania to WOW! a new Customer
The deal team had pursued a relationship with WellSpan for more than five years. Determined not to give up, the team consistently called on the potential Customer. “This win exemplifies a consistent and tenacious calling effort that benefits both the borrower and the Bank,” said Joe. The full-service relationship with WellSpan includes investments, deposits and a direct pay letter of credit, which provides credit and liquidity support for variable rate bonds. Essentially, TD Bank’s credit is substituted for the health system’s credit in the eyes of the bond holders. The deal established TD as one of WellSpan’s primary banks, and the relationship also has the potential to grow through cross-selling – an important focus for the growth of Commercial Banking right now. “We now have an AA-rated health system, which expands our footprint from Eastern to Central Pennsylvania,” Scott said. While we WOW!ed our new Customer, the healthcare lenders were equally WOW!ed by WellSpan’s acumen. “They’re very smart people,” Margaret said. “They have a very strong healthcare system.” Joe said he was impressed with the community knowledge of the high-level officials at WellSpan. Everyone in the organization, all the way up to their CEO, is attuned to the market and what is happening in the communities WellSpan serves. “This is a smart organization, but it’s not just about being smart, it’s about being able to implement,” Joe said, adding that WellSpan executes as successfully as it plans. WellSpan must be smart – they decided to bank with us!
Philadelphia healthcare lenders called on WellSpan - an AA-rated healthcare system - for more than five years, growing their future relationship. From left to right: Joe Tammaro, Scott McElhone, Walter Unangst, WellSpan’s Director of Treasury Management Rick Harley and Senior Vice President of Finance/CEO Mike O’Connor.
APR 2010
PG 11