CHERRY HILL, NJ. -- Commerce Bancorp said its unit, Commerce Bank, completed the aquisition of about $210 million of deposits and four branch offices of Anchor Savings Bank, a unit of Anchor Bancorp.

The branches are in Cherry Hill, Bellmawr, and Mantua N.J.

Separately, Commerce Bancorp said it has completed the sale of 23 million in 10-year, 8.375% subordinated notes. The sale included an overallotment option of $3 million.

The company said proceeds will be used for possible future acquisitions and general corporate purposes, including about $14 million to provide equity Capital to Commerce Bank for its recent acquisition.

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