Morton Fox (mortonfox) wrote,
Morton Fox
mortonfox

60K and the end of Commerce Bank?

cbpicnic-12

60K miles service. (Actual mileage is around 60,610.) Dropped my car off this morning. The loaner car this time is a Toyota Corolla LE from 2001 or earlier. No, I can't tell the model year from the styling or anything like that. I got the year from an old registration sticker on the car's plates.

The big news yesterday, at least from my perspective, was TD Bank's acquisition of Commerce Bancorp. It affects me in two ways. Firstly, as a Commerce Bank shareholder, I'll get a bit of a premium over where CBH was trading earlier this year. However, it won't be much more than the recent stock price because there has been some takeover speculation since the CEO Vernon Hill left the company because of legal problems. (such as making questionable real estate deals with family members through the bank)

Secondly, as a Commerce Bank customer, I'll likely see some changes at the bank. So far, there has been no word on whether TD Bank will keep the Commerce Bank format but my guess is all Commerce Bank branches will become TD Banknorth branches. That would be a pity because Commerce Bank is known in this area for good service, long hours, and free coin-counting machines. I'll miss all of that.
Tags: acquisition, banking, commerce bank, loaner car, merger, td bank, toyota corolla
Subscribe

  • Virtual Conventions

    The COVID-19 pandemic has forced a number of furry conventions to cancel this year due to state and local emergency regulations and also out of…

  • FA United 2019

    Last weekend was FA United 2019 in Northern Virginia. That was my fourth and last furry convention for the year. It'll be hard to cut one convention…

  • Metro Gathering 2019

    The last few years, Metro Gathering was in October and had a Halloween theme. This year though, the geocaching mega event is in September and has a…

  • Post a new comment

    Error

    Anonymous comments are disabled in this journal

    default userpic

    Your reply will be screened

    Your IP address will be recorded 

  • 4 comments