Commerce Bancshares Corp., Worcester, Massachusetts - permission to acquire Mercantile Capital Corporation, Boston, Massachusetts
Overview of Commerce Bancshares Corp., Worcester, Massachusetts - permission to acquire Mercantile Capital Corporation, Boston, Massachusetts
Commerce Bancshares Corporation (Petitioner), Worcester, Massachusetts, has petitioned the Board of Bank Incorporation (Board) pursuant to Massachusetts General Laws, chapter 167A, sections 2 and 4 for approval to acquire Mercantile Capital Corporation (Mercantile Capital), Boston, Massachusetts in a multi-step transaction. Mercantile Capital is the holding company for Mercantile Bank and Trust Company, (Mercantile Bank), Boston, Massachusetts. The Petitioner is the holding company for Commerce Bank & Trust Company (Commerce Bank), Worcester, Massachusetts. An application has also been filed with the Division of Banks for approval of the subsequent merger of Mercantile Bank with and into Commerce Bank.
In determining whether or not to approve the petition the Board and Division must decide whether competition among banking institutions will be unreasonably affected and whether public convenience and advantage will be promoted by this proposal. A public hearing will be given to all interested parties on the petition before the Board on Wednesday, May 30, 2012 at 10:30 a.m., in Hearing Room 1E, First Floor, 1000 Washington Street, Boston, Massachusetts.
All comments concerning this petition, however, must be filed with the Board or the Division by the close of business on Friday, June 8, 2012 at the following address. The applications and all communications relative to these matters are available for public inspection at the Division at 1000 Washington Street, 10th Floor, Boston, MA 02118-6400.
Board of Bank
David J. Cotney
Commissioner of Banks
Commissioner of Revenue
Treasurer and Receiver-General
You will need for Commerce Bancshares Corp., Worcester, Massachusetts - permission to acquire Mercantile Capital Corporation, Boston, Massachusetts
Written comments accepted until June 8, 2012.