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COMMERCIAL BANKSHARES COMPLETES INITIAL PUBLIC OFFERING

 MIAMI, Oct. 6 /PRNewswire/ -- Commercial Bankshares, Inc. (NASDAQ-NMS: CLBK) of Miami has completed its initial public offering of 850,000 shares at a price of $11.50 per share. The company's common stock began trading today on NASDAQ's National Market System, Joseph Armaly, chairman and chief executive officer announced. Commercial Bankshares, Inc., whose trading symbol is CLBK, is a bank holding company that conducts operations through its wholly owned banking subsidiary, Commercial Bank of Florida. Commercial Bank of Florida is a state chartered bank which is a member of the Federal Reserve System and the F.D.I.C. At June 30, 1993, Commercial Bankshares, Inc., on a consolidated basis, had total assets of $264.5 million, total deposits of $240.2 million and stockholders' equity of $21.2 million. Commercial Bankshares, Inc. operates seven branch banking locations throughout Dade County and has 117 employees.
 -0- 10/6/93
 /CONTACT: Joan Papadakis of Commercial Bankshares, 305-267-1200/
 (CLBK)


CO: Commercial Bankshares, Inc. ST: Florida IN: FIN SU: OFR

AW-JV -- FL003 -- 9331 10/06/93 12:26 EDT
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Publication:PR Newswire
Date:Oct 6, 1993
Words:176
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