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Commerce Bank Closes Mercantile Acquisition

Aug 27, 2012 | Reprints | Print

Worcester-based Commerce Bancshares Corp., parent of Commerce Bank & Trust Co., has completed its $26.5 million acquisition of Mercantile Capital Corp. and its subsidiary Mercantile Bank & Trust Co.

The all-cash deal was announced earlier this year. By Friday, signage at Mercantile locations in Boston had been changed. Those offices officially open as Commerce branches today.

The three former mercantile branches are in Brighton, Fenway and the South End neighborhoods of Boston.

With those operations in its possession, Commerce boosts its branch count to 16 and its assets to $1.6 billion. At the end of 2011, Commerce had about $1.4 billion in assets.

Banking & Lending