CHERRY HILL, N.J. - Commerce Bancorp earned a record $20.3 million in
Fourth-quarter net income totaled $4.9 million, up 19% over the same
Commerce paid a 5% stock dividend on Jan. 17, to shareholders of Jan. 2.
Deposits increased 5% to $1.8 billion, while assets increased 13% to
Loans increased 14% to $802 million, while nonperforming assets declined
Commerce's Tier 1 capital ratio was 9.90%.
The company added five new branches in 1994 and plans to open 10 more in
Commerce has 44 branches in metropolitan Philadelphia and southern New