TD Bank Financial Group says that it expects TD Banknorth’s first quarter earnings to translate into second quarter net income for its U.S. personal and commercial banking segment of $23 million on a GAAP basis and $62 million on an adjusted basis.

Adjusted net income for the segment this quarter is expected to exclude $39 million (after tax) related to restructuring, privatization and other merger-related charges flowing from TD Banknorth.

Adjusted net income for the corporate segment this quarter is expected to exclude a $4 million (after tax) restructuring charge related to the transfer of functions from TD Bank USA to TD Banknorth.

An investor call to discuss the completion of the privatization of TD Banknorth on April 20, as well as the expected earnings impact, will be webcast live via TD’s website at 11:00 ET today, May 7. The call is expected to last about 60 minutes and will feature presentations by TD executives on TD Banknorth earnings and strategy, followed by a question and answer period with analysts.

Presentation material referenced during the call will be available on TD’s Investor Relations website at www.td.com/investor/earnings.jsp. A listen-only telephone line is available at 416-644-3417 or toll free at 1-800-732-9307.

TD Bank Financial Group will release its second quarter financial results and webcast its quarterly earnings conference call live on the internet on Thursday, May 24.