Richard T. Cassin Joins Commerce Bank as Senior Vice President of Comm

CHERRY HILL, N.J., April 11 /PRNewswire-FirstCall/ -- Commerce Bank , "America's Most Convenient Bank," announced today that Richard T. Cassin has joined Commerce as senior vice president, commercial real estate lending.

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Based in Manhattan, Cassin will head the bank's commercial real estate lending group and manage an expanding team of 30 lenders covering metro Philadelphia, metro New York, New Jersey, and Commerce's expansion into Washington, D.C., Virginia and Maryland.

Commercial real estate lending has been a core business for Commerce since the bank's inception more than 30 years ago. Commerce has grown a portfolio of commercial real estate loans in excess of $3 billion for its own account and, in 2004, originated over $2 billion of new loan activity.

Commerce offers a broad range of commercial real estate financing services including land acquisition and development, residential and commercial construction and permanent mortgage loans. The bank provides lines of credit on a secured and unsecured basis, rehab and reposition financings, and long-term mortgages on both a recourse and non-recourse basis for its own account and conduit sources.

Prior to joining Commerce, Cassin served as senior vice president/regional real estate lending director for Washington Mutual Bank (formerly Dime Savings Bank), where he managed a commercial real estate portfolio of nearly $2 billion. Cassin directed regional offices throughout the East Coast and consistently exceeded new business goals. Cassin also was a vice president with Chase Manhattan Bank, where he worked nationally with major retail, residential, and commercial developers and managed lending teams throughout the U.S. and Canada.

"Dick Cassin provides Commerce with extensive knowledge of a wide range of real estate lending programs that definitely will benefit our existing and future customers," said Robert M. Falese, President, Commercial and Investment Banking. "His demonstrated leadership also will enable us to expand the success of our commercial real estate lending business."

Cassin will direct a team of senior regional commercial real estate lending experts including:

-- Timothy O'Rorke - South Jersey / Metro Philadelphia O'Rorke, a commercial real estate lender for 20 years, joined Commerce in 1992. His in-depth experience spans all aspects of financing, and he is responsible for the management of a diverse $800 million loan portfolio. -- Suzanne Kliegerman - Metro New York Kliegerman, with nearly 20 years of commercial real estate experience, joined Commerce in 2001 to head the bank's commercial real estate lending group for New York City, Long Island and Westchester County, N.Y. Prior to joining Commerce, Kliegerman served as group vice president in the real estate finance division of Citibank's EAB commercial markets group. -- William J. Waldron - New Jersey Waldron recently joined Commerce after serving as the managing director of commercial real estate for L.J. Melody & Company in Saddle Brook, N.J. Waldron's primary focus was on debt and equity placements for all commercial real estate products on a national basis. -- James M. Cupelli - Washington, D.C. / Virginia Cupelli recently joined Commerce from SunTrust Bank where he was a director/client manager for commercial real estate banking for Washington, D.C. and the surrounding region. Cupelli previously served in a similar capacity at Washington Mutual and Bank of America, where he specialized in developing financing programs for office, retail, industrial and multi-family housing projects.

The addition of Cassin reflects Commerce's continuing emphasis on building its senior management team to keep pace with the bank's rapid expansion both in new stores and convenient products and services.

About Commerce Bank

Commerce Bank, "America's Most Convenient Bank(R)," is a leading retailer of financial services with 319 convenient stores in New Jersey, New York, Pennsylvania and Delaware. In 2005, the bank plans to open 55-plus new locations and create 1,800 new career opportunities throughout its markets. Headquartered in Cherry Hill, N.J., Commerce Bancorp has $31 billion in assets and, in 2004, achieved a deposit increase of 34% and earnings per share growth of 26%. For more information about Commerce, please visit the company's interactive financial resource center at commerceonline.com.

Forward-Looking Statements

The Company may from time to time make written or oral "forward-looking statements," including statements contained in the Company's filings with the Securities and Exchange Commission, in its reports to stockholders and in other communications by the Company, which are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.

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The Company cautions that the foregoing list of important factors is not exclusive. The Company does not undertake to update any forward-looking

statement, whether written or oral, that may be made from time to time by or on behalf of the Company.