Returning to prosperity with the post-war mortgage boom, Portland Savings was revolutionized under the leadership of Roger Lambert, CEO from 1965 to 1981.

He expanded Portland Savings’ portfolio of commercial loans and introduced innovative retail products such as money market certificates.

Early in the twentieth century the bank innovated by opening $1 accounts for all babies born in the area, on condition that there were no withdrawals for ten years.

Local banks suffered greatly from the decline of the mill economy in the 1920s and 1930s, but enjoyed a recovery during World War II, with industrial renewal and a defense bond business.

The bank's original office, located on North Main Street in Barre, is now the home for a senior citizen group.

However, when Howard Bancorp purchased Banknorth Group, management found it too expensive to upgrade the systems of the new division.

In 1981, Portland Savings declared a loss and recognized a pressing need for consolidation in the local banking market.

In 1986, in an effort to acquire capital for expansion, People's dropped its charter as a mutual bank and rechartered into a public corporation.

This would be accomplished through acquisitions, an expanded branch network, and a rapid increase in commercial lending and real estate.

Peoples Heritage stock began to fall as serious problems emerged with bad loans, particularly in the faltering real estate sector, but also in the commercial realm.

In the period 1990 to 1992, Peoples Heritage was losing money, and federal regulators issued a cease and desist order restricting the bank's freedom in the loans area.

The bank opened an innovative storefront retail real estate office to move foreclosed properties.

The bank had aggressively reduced its portfolio of non-performing loans, and all discernible asset quality trends were positive, resulting in a favorable impact to the bottom line.

Bill Ryan proposed a doubling of assets to $5 billion through a maximization of market share in Maine and acquisition of other community banks in the region.

The merger increased People's assets to $17 billion and gave it a larger presence in Massachusetts, Vermont, and through Evergreen Bank (Glens Falls, (1853), in New York.

"[citation needed] Acquisitions in the period included: In the 1990s and early 2000s, the emphasis was on the development of a financial services company in a true community bank setting.

On August 26, 2004, TD Bank Financial Group announced it had signed an agreement with Banknorth to acquire 51% of the outstanding shares of the company for a total of $3.8 billion US.

In July 2005, TD Banknorth announced that it had acquired Hudson United Bank, based in Mahwah, New Jersey.

The acquisition significantly expanded TD Banknorth's presence in both Connecticut and New York and extended the franchise into northern New Jersey and Philadelphia as well.

TD Banknorth announced acquisition of Interchange Financial Services Corp in April 2006, adding 30 branches in Bergen and Essex counties of New Jersey.

On October 2, 2007, Toronto-Dominion announced its plans to acquire Cherry Hill, New Jersey–based Commerce Bancorp, pending shareholder and regulatory approval.

[2] On May 2, 2008, federal Judge F. Dennis Saylor granted a preliminary injunction, prohibiting the use of the TD Commerce name in Massachusetts branches.