ITEM 10. DIRECTORS AND OFFICERS OF THE REGISTRANT.
Directors and Executive Officers
The following table sets forth certain information with respect to the
directors and executive officers of Commerce Bancorp, Inc. (the "Company") and
the executive officers of the Company's banking subsidiaries.
Name Age Positions with the Company and Subsidiaries
Vernon W. Hill, II 50 Chairman and President of the Company; Chairman and President of Commerce
NJ; Chairman and President of Commerce PA; Chairman of Commerce Shore
C. Edward Jordan, Jr. 52 Executive Vice President and Director of the Company; Executive Vice
President and Director of Commerce NJ
Robert C. Beck 60 Secretary and Director of the Company; Secretary and Director of Commerce
NJ
David Baird, IV 59 Director of the Company and Commerce NJ
Jack R Bershad 65 Director of the Company, Commerce NJ and Commerce PA
Morton N. Kerr 65 Director of the Company and Commerce NJ
Steven M. Lewis 46 Director of the Company, Commerce NJ and Commerce PA
Daniel J. Ragone 68 Director of the Company and Commerce NJ
Joseph T. Tarquini, Jr. 60 Director of the Company and Commerce NJ
Peter M. Musumeci, Jr. 45 Executive Vice President, Senior Credit Officer, Treasurer and Assistant
Secretary of the Company; Executive Vice President of Commerce NJ; Director
of Commerce PA and Commerce Shore
Robert D. Falese, Jr. 49 Executive Vice President and Senior Loan Officer of Commerce NJ
Dennis M. DiFlorio 42 Executive Vice President of Commerce NJ
David Wojcik 43 Senior Vice President of the Company
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Mr. Hill, a director of Commerce NJ since 1973 and the Company since 1982,
has been Chairman and/or President of Commerce NJ since 1973 and Chairman and
President of the Company since 1982. Mr. Hill also has been Chairman of the
Board and/or President of Site Development, Inc., Cherry Hill, New Jersey, a
developer of real estate, since 1968. Mr. Hill has been Chairman of the Board of
Directors of Commerce PA from June 1984 to June 1986 and from January 1987 to
the present, President of Commerce PA since June, 1994, a director of Commerce
Bank/Harrisburg, Camp Hill, Pennsylvania since 1985, and the Chairman of
Commerce Shore since January, 1989.
Mr. Jordan, a director of Commerce NJ since 1974 and the Company since
1982, has been Executive Vice President of Commerce NJ since 1974 and Executive
Vice President of the Company since 1982.
Mr. Beck, a director of Commerce NJ since 1973 and the Company since 1982,
has been Secretary of Commerce NJ since 1973 and Secretary of the Company since
1982. Mr. Beck also has been a partner of the law firm of Parker, McCay &
Criscuolo, Marlton, New Jersey since 1987.
Mr. Baird, a director of the Company and Commerce NJ since 1988, has been
President of Haddonfield Lumber Company, Inc., Cherry Hill, New Jersey since
1962.
Mr. Bershad, a director of Commerce PA since 1984 and the Company and
Commerce NJ since 1987, has been a partner of the law firm of Blank, Rome,
Comisky & McCauley, Philadelphia, Pennsylvania and Cherry Hill, New Jersey,
since 1964 and its Chairman since 1990.
Mr. Kerr, a director of Commerce NJ since 1973 and the Company since 1982,
has been President of Markeim-Chalmers, Inc., Realtors, Cherry Hill, New Jersey,
since 1965.
Mr. Lewis, a director of Commerce PA since 1984 and a director of the
Company and Commerce NJ since 1988, has been President of U.S. Restaurants,
Inc., Blue Bell, Pennsylvania since 1985 and President of S. J. Dining, Inc.
since 1986.
Mr. Ragone, a director of Commerce NJ since 1981 and the Company since
1982, has been Chairman of the Board and President of Raible, Lacatena & Beppel,
C.P.A., Haddonfield, New Jersey, or its predecessor firms, since 1960.
Mr. Tarquini, a director of Commerce NJ since 1973 and the Company since
1982, has been President of The Tarquini Organization, A.I.A., Camden, New
Jersey, since 1980. Prior thereto, he had been a partner in its predecessor
firms.
Mr. Musumeci has been an Executive Vice President and Senior Credit Officer
of the Company since 1986; Treasurer and Assistant Secretary of the Company
since 1984; Executive Vice President of Commerce NJ since 1986; Director of
Commerce PA since 1987 and Commerce Shore since 1989.
Mr. Falese has been Executive Vice President and Senior Loan Officer of
Commerce NJ since 1992. From 1990 to 1992, Mr. Falese was President and Chief
Executive Officer of Sterling Bank, Mount Laurel, New Jersey. Prior thereto, Mr.
Falese was an Executive Vice President and Senior Lending Officer at the
Fidelity Bank, Philadelphia, Pennsylvania for more than five years.
Mr. DiFlorio has been an Executive Vice President of Commerce NJ since
January, 1996. Prior thereto Mr. DiFlorio was a Senior Vice President of
Commerce NJ since 1988.
Mr. Wojcik has been a Senior Vice President of the Company since 1988.
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Compliance With Section 16(a) of the Securities Exchange Act of 1934
Section 16(a) of the Securities Exchange Act of 1934 requires the Company's
directors and executive officers, and persons who own more than ten percent of
the Company's Common Stock, to file with the Securities and Exchange Commission
("SEC") initial reports of ownership and reports of changes in ownership of
Common Stock and other securities of the Company. Such persons are required by
the SEC to furnish the Company with copies of all Section 16(a) forms that they
file.
To the Company's knowledge, based solely on a review of the copies of the
Section 16(a) reports furnished to the Company and on written representations
that no other reports were required during the fiscal year ended December 31,
1995, all of the Company's directors, officers and ten percent stockholders have
complied with Section 16(a) of the Exchange Act.
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