Commerce Bank Completes Acquisition
The Commerce Bank sign replaces the Mercantile Bank sign at the Fenway branch.
Commerce Bank & Trust of Worcester has completed its $26.5-million acquisition of Boston-based Mercantile Capital Corp. and its subsidiary Mercantile Bank & Trust Co.
Mercantile Bank's three offices in the Brighton, Fenway and South End neighborhoods of Boston opened today as Commerce Bank offices.
Commerce said it has long been an active lender in Boston, but the merger gives it an expanded physical presence there, demonstrating its commitment to commercial and consumer banking in the city.
As of Dec. 31, 2011, Commerce Bank had $1.4 billion in assets. The combined organization has assets of $1.6 billion and 16 retail banking offices across Eastern and Central Massachusetts, Commerce said.
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