The Porch Agency Joins Commerce Insurance Services

February 20, 2003

Commerce Insurance Services (CIS), a wholly owned subsidiary of Commerce Bancorp, Inc., has acquired The Porch Agency headquartered in Bridgeton, N.J.

Headed by president Joseph Porch, The Porch Agency serves the diverse insurance needs of school districts located throughout New Jersey. The firm specializes in creating risk management and property/casualty insurance programs that address issues that impact students, teachers and administrators.

The Porch Agency also provides risk management and property/ casualty insurance programs for energy dealers, such as fuel oil companies, that operate throughout New Jersey and southeastern Pennsylvania.

“This move reflects our focus on developing specialty insurance practices to serve clients whose needs extend beyond more traditional commercial insurance coverage,” CIS president and COO, Edward Kiessling, said. “The Porch Agency’s emphasis on delivering comprehensive and effective solutions to meet their customers’ insurance needs mirrors our philosophy. We know Joe Porch and his associates will be an excellent addition to Commerce Insurance Services’ team.”

The bank plans to add 46 new locations throughout New York, New Jersey, eastern Pennsylvania and Delaware during 2003. For more information about Commerce, visit commerceonline.com.

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