CHERRY HILL, N.J., July 17 /PRNewswire-FirstCall/ -- Commerce Bancorp, Inc. (NYSE: CBH - News) reported record assets, deposits and loans for the second quarter of 2006, announced Vernon W. Hill, II, Chairman of the multi-bank holding company.
Commented Chairman Hill, "America's #1 Bank Retailer again posted record results with strong core deposit growth of 24%."
The Commerce growth retail model includes the opening of new stores in both existing and new markets.
Consistent with our goal of increasing our store base 15-20% a year, the Company presently has +/- 175 locations in various stages of land use approvals, including approximately 30 locations in Florida.
The Company opened 16 stores in the first half of the year and will open approximately 60 to 65 in 2006.