-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NPa6PHen7zCBRzQsb9URh+cFx6Fp13egvXPGvNtz2JhdoL8xpjUdNzicfyFL2480 OlAF+BSrdFW5dTxWsK6b/g== 0000950159-05-000810.txt : 20050712 0000950159-05-000810.hdr.sgml : 20050712 20050712170748 ACCESSION NUMBER: 0000950159-05-000810 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050712 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050712 DATE AS OF CHANGE: 20050712 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PENNSYLVANIA COMMERCE BANCORP INC CENTRAL INDEX KEY: 0001085706 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 251834776 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-50961 FILM NUMBER: 05950883 BUSINESS ADDRESS: STREET 1: 100 SENATE AVE CITY: CAMP HILL STATE: PA ZIP: 17001-8599 BUSINESS PHONE: 7179755630 MAIL ADDRESS: STREET 1: 100 SENATE AVE CITY: CAMP HILL STATE: PA ZIP: 17001-8599 8-K 1 pacommerce8k.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) July 12, 2005 -------------------------------- Pennsylvania Commerce Bancorp, Inc. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Pennsylvania 000-50961 25-1834776 ------------ --------- ---------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 100 Senate Avenue, Camp Hill, Pennsylvania 17011 ------------------------------------------ ----- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (717)975-5630 ------------------------------ N/A - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 8.01. Other events. On July 12, 2005, Commerce Bank/Harrisburg, NA, the sole banking subsidiary of Pennsylvania Commerce Bancorp Inc. (NASDAQ: COBH), today announced a five-year growth plan to more than double its branch network to as many as 55 stores and increase its deposits to more than $4 billion by 2010. A copy of the press release is attached as exhibit 99.1 to this report. Item 9.01. Financial Statements and Exhibits Exhibit No. ----------- 99.1 Press Release of Pennsylvania Commerce Bancorp, Inc., dated July 12, 2005 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Pennsylvania Commerce Bancorp, Inc. -------------------------------------------- (Registrant) Date: July 12, 2005 /s/ Gary L. Nalbandian -------------------------------------------- Gary L. Nalbandian, Chairman and President /s/ Mark A. Zody -------------------------------------------- Mark A. Zody, Chief Financial Officer EXHIBIT INDEX Exhibit No. DESCRIPTION - ---------------- -------------------- 99.1 Press Release of Pennsylvania Commerce Bancorp, Inc., dated July 12, 2005. EX-99 2 ex99-1.txt EXHIBIT 99.1 [COMMERCE BANK LOGO OMITTED] Contact: Jason S. Kirsch, APR Public Relations Manager (717) 612-3537 jason.kirsch@commercepc.com FOR IMMEDIATE RELEASE Commerce Bank Announces Five-Year Growth Plan Bank sets goal of 55 stores, $4 billion in deposits by 2010 EAST PENNSBORO TOWNSHIP, PA (July 12, 2005) -- Commerce Bank/Harrisburg, NA, the sole banking subsidiary of Pennsylvania Commerce Bancorp Inc. (NASDAQ: COBH), today announced a five-year growth plan to more than double its branch network to as many as 55 stores and increase its deposits to more than $4 billion by 2010. Commerce Bank/Harrisburg currently has 25 stores in five Pennsylvania counties and plans to expand its network to 28 offices by year-end, with openings in North Cornwall Township in Lebanon County, and Wyomissing Borough and Cumru Township in Berks County. Thereafter, the bank plans to open four to six new stores in each of the next five years. Like all Commerce offices, the stores will offer seven-day branch banking and free checking, along with other amenities like Commerce's free interactive Penny Arcade coin-counting machine. "As we look ahead, we will adhere to the retail model that has driven our growth and success for the past 20 years," said Chairman, President and CEO Gary L. Nalbandian. "We will keep working relentlessly to deliver an unsurpassed service experience. We will continue to pioneer new ways to make banking even more convenient. We've never considered ourselves a conventional bank, and we aim to prove that to the people and organizations we serve every day. "We are tremendously excited about our plans for growth. In the coming years, we expect to further fill in areas between existing stores and expand our footprint into neighboring counties and regions. The next new area for us will be Lancaster beginning in 2006." A Commerce Bank 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 currently employs more than 740 people throughout Central Pennsylvania and Berks County. - more - PAGE 2 - Commerce Bank Announces Five-Year Growth Plan To accommodate the bank's growth, a new headquarters, operations and training center, "Commerce Center," is under construction at the TecPort Business Center in Swatara Township, Dauphin County. When completed, the 56,000 square foot, two-story facility will house operations and support services departments including the bank's 24/7 live customer service call center. The building also will house consumer, commercial and mortgage lending operations for the bank's East Shore and West Shore regions in Harrisburg. Additionally, it will be home to Commerce University, the bank's in-house training and education program, which offers more than 50 courses and last year topped 2,900 enrollees. Pennsylvania Commerce Bancorp's performance is marked by rapid growth, increasing profitability and excellent financial returns to shareholders. Over the last five years, assets, deposits and loans have grown on average 28%, 27% and 23% respectively. Total revenues, net income and net income per share have increased 26%, 23% and 18% respectively. Commerce Bank/Harrisburg, "America's Most Convenient Bank," opened its first office in Camp Hill, PA, in June of 1985. In the 20 years since, the bank has cultivated a unique retail model that has produced continuous strong growth. The bank has doubled its number of branches in Pennsylvania in recent years, growing a network of 25 stores in Berks, Cumberland, Dauphin, Lebanon and York counties. Commerce's hallmark products and services include seven-day branch banking, totally free checking, no-fee 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 installment and term loans, commercial mortgages, commercial leasing and lines of credit, and cash management services. Commerce Bank/Harrisburg currently has assets of $1.4 billion. For more information about Commerce Bank/Harrisburg, 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. -----END PRIVACY-ENHANCED MESSAGE-----