Expanding bank could be Commerce clone

Some new bank branches in South Jersey might already seem familiar. Free checking? Extended hours? A mascot?

Sounds a lot like Commerce Bank, which dominated this area until its sale to TD Bank‘s parent firm in 2008. But the branches – in Cherry Hill, Sicklerville and Medford – were opened this year by expansion-minded Republic Bank.

Republic now has half of its 22 branches in the tri-county area, with another to open in Gloucester Township in 2018’s first quarter. Offices are also planned in Deptford and Lumberton.

“Certainly, Vernon Hill’s knowledge of the South Jersey market is a tremendous asset as we rapidly grow,” said Andrew Logue, a former Commerce executive who now is Republic’s President and Chief Operating Officer. “We’re planning more than 50 stores by the end of 2021,” he said, noting Republic will also open a branch next month in Fairless Hills, Bucks County. “That means more than doubling our store footprint across South Jersey and Pennsylvania and reaching $4.7 billion in deposits.”

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