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Commerce Bancorp, Inc. Acquisition History

Buyer: Commerce Bancorp, Inc., Cherry Hill, NJ
Seller: Guarantee Service Agency Inc., Maywood, NJ

 
Transaction Summary
Commerce Bancorp Inc.'s Commerce National Insurance Services unit signed an agreement to acquire Guarantee Service Agency Inc., which provides personal insurance lines in Bergen County, NJ. Financial terms were not disclosed. Guarantee Service Agency, a.k.a. the Maywood Agency, will continue to be based in the Commerce Bank/Maywood Building in Maywood, NJ.
 
Transaction Data
Announcement Date 08/31/00   Completion Date 10/01/00
Type of Asset Sold Insurance   Transaction Status Completed
Asset Desc. Insurance Agency   Transaction Revised? No
Accounting Type Pooling   Revision Date N/A
Total Purchase Price ($000) N/A   Assets Sold/Purchased ($000) N/A
Consideration Type N/A   Payment in: Cash ($000) 0
Goodwill ($000) N/A   Payment in: Common Stock ($000) 0
Premium or Discount Paid ($000) N/A   Payment in: Debt ($000) 0
Premium/Assets Sold (%) N/A   Payment in: Convertible Debt ($000) 0
Price/Assets Sold (%) N/A   Payment in: Pref Stock ($000) 0
Actual Buyer of Assets Commerce National Insurance Services   Payment in: Other Consider ($000) 0
Earnout Consideration value ($000) N/A   Actual Seller of Assets Guarantee Service Agency Inc.
 
Transaction Advisers
Financial Advisers: N/A N/A
Legal Advisers: N/A N/A
Financial Advisers: N/A N/A
Legal Advisers: N/A N/A
 
Data Provided by Highline Financial LLC.