Commercebank, one of the largest privately held banks in Florida, announced that its total assets during the second quarter grew to $5.8 billion, a 15 percent increase over the previous quarter, and a 30 percent increase over the same quarter last year.

Loans reached almost $2.7 billion, a growth of 24 percent from the same quarter last year. Customer deposits and sweep repos (interest bearing commercial funds) reached a combined total of almost $4.5 billion, an increase of 30 percent over the same quarter last year. The results for the 2007 first semester were $22.6 million, $3.8 million or 14 percent below last year. This decrease is primarily attributed to increased operating costs and loan loss provisions.

"We are satisfied with our performance, especially our strong growth," said J. Guillermo Villar, President and Chief Executive Officer at Commercebank. "We will continue serving the South Florida community by broadening the scope of our products and services, and expanding our network of Banking Centers."

 Period ended June 30                               2007       2006
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($thousands)
Total Assets                                     $5,796,170 $4,448,522
Total Loans (gross)                              $2,705,600 $2,184,056
Total Deposits                                   $4,472,080 $3,430,611
2nd Quarter Earnings                             $   11,464 $   15,235
2nd Quarter Return on Assets                     %     0.87 %     1.23
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The Bank has announced it will soon open a new branch at 1701 Alton Road, Miami Beach, Florida. This spacious new Banking Center will be located just a block from the highly visible and frequented Lincoln Road mall. Amenities will eventually include a drive-thru and other convenient features. Additional branch openings are planned for the next twelve months.

About Commercebank

Commercebank N.A. is one of the largest privately held banks in South Florida serving its community for over than 25 years. The Bank is a wholly owned subsidiary of Commercebank Holding Corp., which in turn is owned by Mercantil Servicios Financieros, the largest provider of financial services in Venezuela, with more than 80 years of experience. Commercebank has assets of almost $5.8 billion.

For more information: http://www.commercebankfl.com