The company first opened its doors as Portland Savings Bank in Portland, Maine, in 1852, and later grew through a series of mergers and becamePeoples Heritage Bank in 1983. At the turn of the millennium, the opportunity for growth presented itself again as Peoples Heritage Bank, throughseveral acquisitions, expanded deeper into New England and took the name Banknorth.
Meanwhile, Cherry Hill, New Jersey-based Commerce Bank was turning Customers into Fans as America?s Most Convenient Bank. Founded in 1973, Commerce Bank expanded rapidly over the next 30 years into metro New York and Philadelphia, Washington D.C., and South Florida, winning new Customers with WOW! service and convenience.