Michael “Mike” Carbone, a native of South Jersey was born and raised in Camden. He began his career with Commerce fifteen years ago as an Assistant VP in Burlington’s Commerce Bank Store. Commerce management quickly recognized his potential and after only 6 months of hard work he became the Camden County Regional VP.  In 2000 he became the SR VP and Market Manager overseeing all of Southern NJ and 5 billion dollars in deposits. In 2006 he was promoted President of The Metro Philadelphia Market overseeing operations in Philadelphia, Delaware and in New Jersey from Trenton to Cape May. Today, he oversees all retail and commercial bank operations, consumer and commercial lending, government banking, and cash management operations within the Market. The total Market has 17 billion dollars in deposits with significant market share in small business and community bank and consumer loan customers.

Prior to taking the helm of Commerce Bank’s Metro Philadelphia market, Michael was Senior Vice President and Market Manager for the bank’s South Jersey and Delaware market. He led that region’s outstanding growth and was instrumental in making Commerce the largest locally-headquartered bank in New Jersey.

Michael was well prepared for his work at Commerce. He started his career with First Fidelity Bank in 1986. He then moved on to work for United Jersey Bank South where he held a lending position quickly rising to the level of Assistant Vice President. 
   
Mike is celebrating his 15 year anniversary with Commerce and couldn’t be happier.  He has had some help along the way in achieving greatness.  He acknowledges the benefits of terrific leadership team at Commerce.  He is grateful that was able to meet and exceed his goals with the help of his mentors Jack Tarditi, Vice Chairman of Commerce Bancorp Insurance Services, Bob Falese, President and CEO, Dennis DiFlorio, Chairman of Commerce Bank and Peter Musumeci, Executive VP as well as Bob Poznek, CFO, Archway Programs.  Mike attributes much of his success to the time and effort of these folks spent in helping in his development by introducing him to the business leaders in the area and in helping him to embrace the “Commerce Culture”.

Mike has four Regional VPs working with him in South Jersey; Janine Levy, Ron Matthews, Rob Curley and Joe Tredinnick. A few of them started as tellers in college and returned after graduating to apply for full time positions, but ironically all four have one thing in common, they have only worked for one company during their entire career, Commerce.  Their footings are 8 billion dollars and they own their markets with 50% of small businesses as customers in South Jersey which is triple the market share of their competitors.

Part of the “Commerce Culture is the :WOW! Factor” Commerce executives do not only WOW! their patrons, but wow their employees.  When a store or individual is recognized, the “WOW! Brigade” springs into action.  The Brigade throws parties, distributes gifts and genuinely celebrates the success of associates. Commerce believes in fulfilling its community commitments. Commerce employees seem to be everywhere attending fundraisers, walking for a cause or hammering in nails habitat for humanity you will surely find a commerce representative donating their time and energy, because they care. “ It’s more than a job, it’s a way of life.”  Said Carbone
As a leader retail banking, Mike clearly understands that retail banking success depends on the positive attitude of its employees. Commerce’s employees take great pride in their appearance and enjoy the recognition in the community as well as the business community.  They enjoy being associated with the brand and are easily recognized by their Red C Pin worn on their lapel.  “We hire for attitude and train for skill.  Commerce provides the training to develop their skills at Commerce University” said Carbone.

A well-rounded member of the community, Michael is active in a number of organizations, including the Juvenile Diabetes Foundation and Volunteers of America.  He also is a member of the Board of Trustees of the Home Port Alliance.   In addition, Michael is an RMA member and former member of the Board of Trustees of the Greater Camden Partnership.   He is a former Board Vice-Chairman of the Camden County College Foundation, the United Way of Camden County, American Cancer Society, Southern New Jersey Development Council Banking Committee and Cooperative Business Assistance Corp. Banking Committee.

Michael is a graduate of Rowan University, formerly Glassboro State College, where he earned a Bachelors of Arts Degree in Economics. He is married and has one son.  He enjoys spending time with his family, reading, golf, sharing great times with his team at Commerce and watching his son’s band perform.

About Commerce Bank:

Commerce Bank welcomed its first Customers for business more than 30 years ago with a focused commitment to providing quality banking services through every available delivery channel.  Since then, the Bank has developed a unique and very successful retail model, which has produced dynamic growth. From its inception in 1973, Commerce has expanded from its original base in Marlton, New Jersey, to 450+ locations throughout Metro New York, Metro Philadelphia, Metro Washington D.C., and South Florida. 

Commerce, headquartered in Cherry Hill, New Jersey, currently has assets of $48 billion and is listed on the New York Stock Exchange under the symbol CBH. Commerce has produced a compounded ten-year shareholder return of 23%. In August of 2006, Consumer Reports Magazine ranked Commerce Bank number one in overall customer satisfaction. In June 2007, J.D. Power and Associates ranked Commerce Bank highest in customer satisfaction in retail banking in the Mid-Atlantic region. 

Commerce, a retailer at heart, has developed a unique business strategy that incorporates the best practices of the nation’s leading consumer-focused retailing companies. As America’s Most Convenient Bank, Commerce looks different, thinks different and provides a truly different banking experience. Commerce’s hallmark products and services include:
-    Open 7 days, 361 days per year
-    Free personal checking 
-    Free Commerce Check Card, a combination ATM / Visa® debit card
-    Free Commerce Visa Credit Card, a revolutionary no-fee card with a triple reward-points program
-    Free Penny Arcade coin-counting machines   
-    Commerce On-Line Banking, America’s leading on-line banking service
1-800-YES-2000SM, a full-service, 24-hour bank-by-phone system customers can an always speak with a real live person.

Commerce is looking for fans, not customers. ”You have to be open when they need you.   Many business owners don’t have the time in their busy day and find it to be inconvenient to stop and go to the bank.  By being open on Sunday’s and until 8pm it allows them flexibility throughout their day which is much appreciated.” Said Carbone.

Commerce had an average of 120,000 transactions per month in their stores that is four times an average McDonalds.  “Relationships need to be formed and nurtured, if you play the rate game, you will lose to the next guy who has a better rate.” Said Carbone.

In addition, Commerce has established a major commercial banking business that is built on the philosophy of local bankers making local loans. Small business and middle market lending comprise the foundation of Commerce’s commercial banking operation. In recent years, Commerce has been the #1 bank for Small Business Administration (SBA) loans in its footprint.

A staunch commitment to active involvement in the local community is another vital element of the Commerce philosophy. Overall, Commerce Bank’s Corporate Giving Program has contributed more than $56 million to nonprofit organizations that provide educational, community, human service, arts, and health-related programs that focus on improving the welfare of children and families.  “If you are going to do business within a community, you need to support it” said Carbone.

Commerce took over the #2 position in banking coming in second to Wachovia in The Philadelphia Regional Banking Marketplace.  They are planning on becoming number one in the very near future and are working hard and having fun in the process. 
During 2006, Commerce opened 55 new stores and will maintain an aggressive building pace in the years to come.

When asked about the recent purchase of Commerce and the rumor that they will be changing their hours, Carbone commented: “TD Bank North and Commerce will take the best of both companies for the ultimate benefit of our customers, shareholders and employees.  I don’t see any changes in the store hours for doing business.”