The bank, which has assets of more than $16 billion and 224 bank branches currently serving Metro New York, New Jersey, eastern Pennsylvania and northern Delaware, will enter the Westchester County market this summer with the opening of four Commerce Bank branches: two in White Plains; one at Tarrytown Road and the other at Mamaroneck Avenue and Rutherford Street; in Mamaroneck at Boston Post Road and Rock Ridge Road and in Yorktown at the Jefferson Valley Mall.

In the second half of 2003, Commerce Bancorp plans to open Commerce Bank branches in Larchmont, Tarrytown, Bronxville, Scarsdale, Mount Kisco, Rye, Thornwood, downtown White Plains, Hartsdale and Yonkers. A bank spokesperson did not divulge how many of these new branches would involve existing space and how many might possibly entail new construction. The bank branch prototype (new construction) is approximately 3,700 sf.

Commenting on the bank's expansion into Westchester, Commerce Chairman and President Vernon W. Hill says, "Commerce is a retailer at heart, and with that in mind we are committed to providing our customers with a truly memorable experience every time they interact with us. Westchester County residents should not be subjected to excessive fees, limited hours and poor service when they do their banking. We know they deserve the absolute best in convenient, customer-focused service. We're all about turning people into Commerce fans."

The move into Westchester County is part of its plan to eventually have more than 400 bank branches in the New York Metro region, including more than 30 in Manhattan. Currently, the retail and commercial bank has 11 branches in Manhattan and seven on Long Island. In late December 2002, the bank opened its first branch in Rockland County at 105 East Central Ave. in Pearl River.

The dollar value of the bank's expansion program was not released. Bank officials state that it has goals of reaching $30 billion in assets and a branch network of 375 offices in the next three years.