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| Commerce Bank Opens 250th Store
Growth Continues Throughout Metro New York and Greater Philadelphia CHERRY HILL, N.J.--(BUSINESS WIRE)--Sept. 4, 2003--Commerce Bancorp, Inc. (NYSE:CBH) will celebrate the unveiling of its 250th store on Friday, September 5 with simultaneous grand opening festivities at two new Brooklyn, New York locations at: BizVantage – Like a personalized newsletter for business, investment or technology. 205 Montague Street (Brooklyn Heights) 1602 Avenue U Commerce Bank's metro New York grand opening celebrations will continue on Saturday, September 6 when two new Long Island stores open in: Oceanside - 247 Long Beach Road Hicksville - 225 North Broadway All of the new stores will showcase Commerce's hallmark products and services including: -- Seven-day in-store banking -- Free personal checking -- Free Penny Arcade coin counting machines -- Free Commerce Check Card, a combination ATM/VISA debit card In addition, Commerce enables customers to access their accounts around the clock via Commerce Online, the awarding-winning, interactive financial resources center at commerceonline.com, and through a full service, bank-by-phone system at 1-800-YES-2000. So far in 2003 Commerce has opened 25 new stores. The bank plans to open 21 more locations before the close of the year. Longer term, Commerce is working toward the goal of 500-plus branches and assets of $50 billion by 2007. Commerce opened for business in June of 1973 with a single office and staff of nine. Since then, the bank has grown dramatically. Today the Commerce network encompasses the metro New York and metro Philadelphia regions with 249 stores. Commerce has assets of $21 billion and employs more than 8,700 people. To support ongoing expansion, Commerce plans to create approximately 1,800 new career positions annually for the next several years. In addition, among the nation's largest 50 banks Commerce is: -- #1 in 5-year (1997-2002) acquisition-adjusted deposit growth rate -- #1 in 5-year net branch growth rate -- #1 in 5-year "same store" deposit growth (looking only at mature branches open during the entire 5-year period) "Commerce Bank's dynamic growth is fueled by our ability to combine the best practices of America's great retailers with our own convenient financial products and services," said Commerce Chairman and President Vernon W. Hill. "Our relentless commitment to turning routine customers into Commerce fans by delivering truly memorable banking experiences at every one of our stores every day gives us a distinct advantage in the markets we serve." Along with retail banking, Commerce offers a diverse portfolio of commercial banking services and stresses the vital importance of having local bankers making local loans. In every situation, Commerce's expert lenders work closely with customers to develop financing strategies that best meet their needs. Commerce also offers a full range of insurance services through its Commerce Insurance Services division and an array of public finance services through Commerce Capital Markets. For more information about Commerce, please visit the company's interactive financial resource center at commerceonline.com.
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