Commerce Bank Names Prominent Local Executives to Pennsylvania Board of Directors.Business Editors PHILADELPHIA--(BUSINESS WIRE)--June 18, 2002 Commerce Bancorp This article is about the bank headquartered in Cherry Hill, New Jersey. For other uses, see Commerce Bank. Commerce Bancorp (NYSE: CBH), doing business as Commerce Bank , Inc. (NYSE NYSE See: New York Stock Exchange :CBH CBH cutaneous basophil hypersensitivity. ) announced today that six metro Philadelphia executives have been named to the Board of Directors for Commerce Bank/Pennsylvania, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Commerce Bancorp.
The new board members include:
Dr. Constantine Papadakis President - Drexel University
Lawrence F. Flick IV President and CEO - Prudential Fox
& Roach Realtors
Lynda Barness President - The Barness
Organization
Norman U. Cohn Chairman - Advertising Specialty
Institute
Ronald A. White President/Attorney - Ronald A.
White, P.C.
Charles P. Sexton Jr. Chairman - Delaware County Prison
Board
In addition, Vernon W. Hill, Chairman and President of Commerce Bancorp, and Glenn K. Holck, President of Commerce Bank / Pennsylvania, will serve on the board. "As local bankers making local loans, we believe our Pennsylvania management team must comprise successful local business leaders who are very familiar with the communities we serve and are committed to fostering the region's economic growth," said Hill. With 100+ metro Philadelphia branches, Commerce is the largest locally headquartered bank serving Bucks Bucks: see Buckinghamshire. , Chester, Delaware, Montgomery and Philadelphia counties. During 2002, Commerce will continue to implement its ambitious Pennsylvania expansion plan that includes new branches throughout the region. "Pennsylvania is a vitally important market for Commerce and we committed to expanding our local presence throughout the metro Philadelphia area," said Holck, president of Commerce Bank/Pennsylvania. "Our strategy is based on empowering our Pennsylvania-based managers and giving them the ability to make prompt decisions in order to meet the financial needs of their customers." Commerce Bancorp is one of the nation's fastest-growing financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. retailers with $13 billion in assets and a rapidly expanding network of nearly 200 branches. Commerce is maintaining an aggressive expansion pace, working toward a total asset goal of $25 billion and a branch network of 375 offices by the year 2005. The bank plans to add 40+ new locations throughout New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey, eastern Pennsylvania and Delaware during 2002. For more information about Commerce, please visit the company's interactive financial resource center at commerceonline.com. For more information, please contact David Flaherty, Vice President, Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. at 856-751-4069. |
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