NEW: Commerce Bank Completes Acquisition of Mercantile Bank
Monday, August 27, 2012
The acquisition was a $26.5 million all cash transaction that led to Mercantile Bank's locations in Brighton, Fenway and the South End of Boston all opening as Commerce Banks today. The combined organization now has assets of $1.6 billion with 16 retail banking offices serving people and businesses across Central and Eastern Massachusetts.
“We are pleased to welcome Mercantile Bank’s customers to Commerce Bank, and look forward to serving their banking needs as well as continuing the strong tradition of corporate citizenship and community involvement shared by both Commerce Bank and Mercantile Bank,” said Commerce Bank President and CEO Brian W. Thompson.
Commerce Bank, founded in 1955 and headquartered in Worcester, looks for the acquisition to expand its physical presence throughout the Commonwealth and further demonstrate its commitment to both commercial and retail banking in Boston.
For more information on Commerce Bank, click here.
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