COBH Pennsylvania Commerce Bancorp (MM)

Commerce Bank/Harrisburg, NA (NASDAQ:COBH), �America�s Most Convenient Bank,� today announced that the bank plans to open four new stores and create as many as 100 new career opportunities in 2007, the bank�s twenty-second year of business. The new locations will expand Commerce Bank�s network to 34 stores in six Pennsylvania counties and increase the bank�s total employment to more than 1,000. �Since Commerce Bank first opened in 1985, we�ve continued to set the bar higher and higher,� said Commerce Bank Chairman, President and CEO Gary L. Nalbandian. �Exceeding customer expectations is at the heart of everything we do. That�s why we offer the longest hours, no stupid rules, and a superior level of service that�s continually turning more customers into Commerce fans. We look forward to bringing our refreshing kind of service and convenience to even more people in our Pennsylvania footprint.� Nalbandian highlighted that the bank is committed to sustaining its expansion, despite an interest rate environment that continues to present challenges for financial institutions across the nation. �Commerce is a true growth company,� Nalbandian said. �We believe that adhering to our deposit-driven retail model, fueled by same-store growth and new store growth, will position the bank well for when the rate environment returns to normal.� Like all Commerce Bank offices, the new stores planned for 2007 will offer seven-day banking, free checking, wide drive-thru lanes and convenient ATMs, along with other amenities like Commerce�s free interactive Penny Arcade coin-counting machine. A Commerce retail store generally requires as many as 20 full- and part-time employees. In conjunction with the bank�s growth plans, other new hires will include lending officers and operations personnel. Commerce Bank currently employs about 900 people throughout Central Pennsylvania and Berks County. The new locations include: Berks County: Spring Township store, Route 724 and Bradley Avenue, Spring Twp. Dauphin County: Linglestown Road store, Linglestown Road and Patton Road, Lower Paxton Twp. Lancaster County Lincoln Highway East store, 2121 Lincoln Highway East, East Lampeter Twp. Manheim Pike store, 1461 Manheim Pike, Manheim Twp. Beyond 2007, the bank plans to open as many as seven new stores annually, targeting a total of 59 locations by 2011. Future locations under development include: Cumberland County Silver Spring store, Carlisle Pike, Silver Spring Twp. Lancaster County Downtown Lancaster store, 101 N. Queen St., Lancaster Millersville store, 237 Manor Ave., Millersville Borough York County Dover store, Carlisle Road and Alta Vista Road, Dover Twp. Downtown York store, West Philadelphia and North George Streets, York South George Street store, South George Street and Country Club Road, Spring Garden Twp. Commerce Bank/Harrisburg, �America�s Most Convenient Bank,� is a financial services retailer that has produced continuous strong growth since its first office opened in 1985. Headquartered in Harrisburg, PA, the sole subsidiary of Pennsylvania Commerce Bancorp (NASDAQ:COBH) has doubled its number of stores in recent years, growing a network of 30 convenient locations in Berks, Cumberland, Dauphin, Lancaster, Lebanon and York counties. Commerce�s hallmark products and services include seven-day banking, free personal checking, free instant-issue ATM/Visa check card, free interactive Penny Arcade coin-counting machines, free online banking and 24/7 bank-by-phone. In addition to retail banking, Commerce offers a diverse portfolio of commercial banking services including term loans, commercial mortgages, commercial leasing and lines of credit, and cash management services. For more information about Commerce, visit the bank�s web site at commercepc.com. This press release contains forward-looking statements concerning future events. Actual results could differ materially due to the following risks and uncertainties -- deteriorating economic conditions; increased competition; interest rate movements; market volatility in the securities markets; legislative or regulatory developments; merger-related synergies, savings and integration issues; technological changes; and other risks and uncertainties discussed in the company's reports filed from time to time with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance on these statements. The Company undertakes no obligation to publicly release or update any of these statements.