COMMERCE BANCORP OFFERING DECLARED EFFECTIVE
COMMERCE BANCORP OFFERING DECLARED EFFECTIVE CHERRY HILL, N.J., June 18 /PRNewswire/ -- Commerce Bancorp, Inc.
(NASDAQ: COBA) announced today that its registration statement for the sale of 1,725,000 shares of common stock (including an over-allotment option) at $10.50 per share was declared effective today.
All of the shares of common stock are being sold by the company. The purpose of the offering is to raise capital for general corporate purposes including providing additional equity capital to its banking subsidiaries to support their future growth and for possible future acquisitions. The managing underwriters are Wheat First Butcher & Singer Capital Markets, Legg Mason Wood Walker, Incorporated (books) and Foley Mufson Howe & Company. Commerce Bancorp is a multi-bank holding company headquartered in Cherry Hill, with 31 branch offices serving metropolitan Philadelphia and southern New Jersey. /delval/ -0- 1/16/92 /CONTACT: Vernon W. Hill II, chairman and president, or C. Edward Jordan Jr., executive vp, of Commerce Bancorp, 609-751-9000/ (COBA) CO: Commerce Bancorp, Inc. ST: New Jersey, Pennsylvania IN: FIN SU: OFR
LJ-CC -- PH017 -- 1464 06/18/92 11:27 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Jun 18, 1992|
|Previous Article:||GENERAL SIGNAL ELECTS KIDDER, CHAIRMAN AND CEO OF DURACELL INTERNATIONAL, TO ITS BOARD|
|Next Article:||WOOLWORTH PLANS TO ACCELERATE GLOBAL EXPANSION OF ITS FOOT LOCKER CHAIN; CITES GROWTH POTENTIAL OF FOUR OTHER FORMATS|