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Commerce Bank & CVS/Walgreens

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Claude From NY

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Jan 16, 2002
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Certified Residential Appraiser
State
New York
are sprouting up all over the place! You can't go more than a mile without seeing one, a bank followed by a 24/7 drug store followed by a bank. I don't think there is a neighborhood left that doesn't have a Commerce Bank (points w/o the William Floyd). Seems that they are paying good money for the sites they are acquiring. I just can't see how much further this sort of expansion can be supported. Is there really that much demand?

Thanks for reading :)
 

Joyce Potts

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Feb 6, 2005
Professional Status
Certified Residential Appraiser
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Florida
No, I'm sure they're building them for fun and games. Or maybe they're money laundering?
 

Riick

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Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
Their recipe is "open 7 days a week", and they have late hours too.
(( also low rates for savings & CDs))
People like the convenience
They like it even more when all the OTHER banks start competing with same hours.
 

KenRossman

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Oct 20, 2004
Professional Status
Certified General Appraiser
State
Florida
Plenty of North Fork Branches opening in S Nassau also.

Commerce is doing a number on many of the other banks offering far superior service. I switched to them several years ago and couldn't be happier. Open late every nite + Saturday & Sunday & lots of drive-thru windows at every branch. Also their on line interface is the easiest to work with of all I have tried.
 

Claude From NY

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Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
New York
No, I'm sure they're building them for fun and games. Or maybe they're money laundering?

Maybe not money laundering:

"Last year was a tumultuous year for Commerce. A series of regulatory investigations into the bank's insider-party transactions ultimately led to the ouster of Commerce's founder and now ex-CEO Vernon Hill, as part of a settlement. The scrutiny was tied in part to Commerce's real estate transactions, including the fact that the bank had used InterArch, an architectural firm owned by Hill's wife, to design branch offices."

http://www.thestreet.com/_yahoo/new...ml?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

Commerce Bank has agreed to be acquired by Toronto Dominion Bank and the former CEO and founder is working at a place called Salad Works. Toronto Dominion is just in time to take part in the US real estate slump. Maybe it is for fun and games :)
 
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