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Updated: September 15, 2023

With retirement nearing, Larry Wold reflects on years leading Maine's market-leading bank

Larry Wold at running race. File photo / Renee Cordes Larry Wold, who will retire at year's end as TD Bank's Maine market president, stops to talk to volunteers after completing the 2022 TD Beach to Beacon 10K race.

There's been a major turnover in Maine's banking leadership in the past year, with longtime leaders stepping down or announcing plans to step down at Camden National Bank, Bank of America, M&T Bank, NBT Bank and Mascoma Bank.

The latest to indicate plans to retire is Larry Wold, 64, who has led TD Bank's Maine operations for the past 17 years. He has spent 38 years in the banking industry in Maine. He intends to step down at the end of the year.

While the bank has not publicly announced the leadership change, employees have been notified. A successor has not been named. 

Mainebiz recently spoke with Wold, who confirmed the plan and offered some reflections on his tenure at TD Bank, which has solidly held onto its leading market share in Maine. 

TD Bank has a 13.33% portion of the Maine market, based on deposits of $5.7 billion, according to Federal Deposit Insurance Corp. data through June 30, 2022. The bank operates 39 offices in Maine. Community involvement includes title sponsorship of the annual TD Beach to Beacon 10K road race, which this year raised funds for the Yarmouth nonprofit Valo, which supports the emotional well-being of teens.

Joined TD in 1991

Wold joined TD Bank after six years at Casco Northern Bank. He has spent 32 years at TD Bank, starting in February 1991.

"I go back to the mid-1980s in this business," he said.

Photo / Tim Greenway
Larry Wold of TD Bank

Throughout his career, he said he takes pride in helping get institutions through tough economic stretches. While there's been a lot of uproar about interest rates hitting 7% recently, he recalls buying his first house three decades ago at a mortgage rate of 15%.

Wold said he is also proud to have been able to help TD's commercial clients grow.

"It's an honorable profession when you do it right," he said.

"I've been able to work with great people and be involved in great events," he added. He cited the annual TD Beach to Beacon race and having the naming rights on the TD Bank Garden in Boston, home of the Celtics and Bruins. 

Avid runner

Outside of the banking world, Wold is as an avid runner. 

He's run every one of the Beach to Beacon races, going back 25 years. He's also run Bridgton's "4 on the Fourth" four-mile road race 45 times, he said. 

Wold has a regular running group that hits the pavement several days a week, and can be seen at lunchtime on Portland's Eastern Promenade. 

"That's been four times a week, 49 weeks out of the year," he said. 

Looking toward retirement, he plans to spend more time with family, and he and his wife are building a house in Freeport. Wold said he plans to stay engaged with board work and other efforts.

After some family events next year, "I'll see after that. I still plan to stay engaged and connected," he said. "I'm not going to just play golf and go to the beach."

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