Commerce Bank to open four new branches; create 100 jobs

Source: Commerce Bank

Commerce Bank/Harrisburg, NA (NASDAQ:COBH), "America's Most Convenient Bank," today announced that the bank plans to open four new stores and create as many as 100 new career opportunities in 2007, the bank's twenty-second year of business.

The new locations will expand Commerce Bank's network to 34 stores in six Pennsylvania counties and increase the bank's total employment to more than 1,000.

"Since Commerce Bank first opened in 1985, we've continued to set the bar higher and higher," said Commerce Bank Chairman, President and CEO Gary L. Nalbandian. "Exceeding customer expectations is at the heart of everything we do. That's why we offer the longest hours, no stupid rules, and a superior level of service that's continually turning more customers into Commerce fans. We look forward to bringing our refreshing kind of service and convenience to even more people in our Pennsylvania footprint."

Nalbandian highlighted that the bank is committed to sustaining its expansion, despite an interest rate environment that continues to present challenges for financial institutions across the nation.

"Commerce is a true growth company," Nalbandian said. "We believe that adhering to our deposit-driven retail model, fueled by same-store growth and new store growth, will position the bank well for when the rate environment returns to normal."

Like all Commerce Bank offices, the new stores planned for 2007 will offer seven-day banking, free checking, wide drive-thru lanes and convenient ATMs, along with other amenities like Commerce's free interactive Penny Arcade coin-counting machine.

A Commerce retail store generally requires as many as 20 full- and part-time employees. In conjunction with the bank's growth plans, other new hires will include lending officers and operations personnel. Commerce Bank currently employs about 900 people throughout Central Pennsylvania and Berks County.

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