Commerce Bancorp is a New Jersey-based bank holding company that offers banking, insurance, brokerage, and investment banking services in New Jersey, Pennsylvania, Delaware, New York, Connecticut, Virginia, Washington, D.C., Florida, and Maryland. On October 2, 2007: Toronto-Dominion Bank Financial Group purchased Commerce Bancorp Inc. in a 75-per-cent stock and 25-per-cent cash deal worth $8.5 billion US. It is now a subsidiary of Toronto-Dominion Bank, and does business under the name TD Commercer Bank.
Key Dates
- 1973: Commerce Bancorp was founded
- 2007: Acquired by TD Bank Financial Group went public
- 2008: Name changed to TD Commerce Bank
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References
Fast Facts
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Annual revenue (2006)
$1.87 billion
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Founder(s)
Vernon Hill
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Year Established
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Industry
Finance and Insurance
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Phone
(856) 751-9000
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Fax
(856) 751-9260
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HQ
Cherry Hill, New Jersey
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President
Bharat Masrani
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Chairman
Dennis M. DiFlorio
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Fact:
CEO: Bharat Masrani
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Staff
15,000
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Other key people
John J. Cunningham Jr.
