Commerce Bank Experiences Growth, Opportunity in Grand Rapids
Company deepens investment in West Michigan market with new office space and additional commercial banker
Grand Rapids, MI – August 29, 2018 – Two years after arriving in Grand Rapids, Commerce Bank announced it has signed a 5-year lease on a new office space location in McKay Tower in downtown Grand Rapids and has grown its local team with the addition of Dan VandenBosch, vice president.
Led by senior vice president and West Michigan native Mike Hollander, Commerce Bank serves the greater West Michigan region including Grand Rapids, Kalamazoo, Lansing, and the Lakeshore markets with commercial lending, equipment financing, payment systems, commercial real estate financing and specialized healthcare offerings.
VandenBosch joins Commerce from Huntington Bank where he was a member of their executive leadership team in West Michigan and was responsible for Huntington’s government, non-profit and higher education banking relationships across the state of Michigan. He brings significant experience in bond financing and has lent his expertise as a speaker at various industry conferences. Prior to Huntington Bank, VandenBosch worked at Lancaster Pollard in the Healthcare Investment Banking group focusing on hospitals and senior living organizations and served on the Wealth Management team at Northern Trust in Chicago.
VandenBosch received a B.A. in business from Calvin College and an MBA from Notre Dame. He is very involved in the community as a member of Van Andel Institute’s J-Board, the Ada Christian School Finance Committee and Wedgewood Christian Services NextGen Board among other commitments. VandenBosch’s role at Commerce will focus on building client relationships across all sectors, with an emphasis on healthcare organizations and middle market companies.
Commerce brought its unique “super-community” banking model to Grand Rapids in May of 2016 and, since that time, has experienced strong growth in the market. Hollander expects the upward momentum to accelerate as they enter the next phase of growth locally.
In speaking to the new office space and addition of VandenBosch, Hollander said, “In two short years we have experienced some great successes in this market. We are thrilled to continue our investment in the Grand Rapids and West Michigan communities and serve the businesses in this region and Dan will be a vital part of these efforts. The reception to our relationship-based approach has been excellent. We have found that business owners genuinely appreciate our story of having been led by the Kemper family for six generations, the stability we provide our communities as one of the top-rated banks in the country, and how well we fit within the strong value system of this market.”
With more than 150 years of operating history and recognized by Forbes as one of the “Top Mid-Sized Employers,” Commerce Bank, a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), is a $24.5 billion regional bank holding company. Commerce maintains an expansive commercial banking presence and is currently ranked by Nilson as the 7th largest purchasing card issuer in the country and by SNL Financial as the 29th largest U.S. bank by market cap. Moody’s ranks Commerce among the top 7 banks in the US with a baseline credit assessment (BCA) of a1. BCA reflects a bank’s standalone credit strength.
About Commerce Bancshares, Inc.
Commerce Bank, is a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), a $24.5 billion regional bank holding company, as of June 30, 2018. For more than 150 years, Commerce has been meeting the financial services needs of individuals and businesses. Commerce provides a full range of financial products to consumer and commercial customers, including personal banking, lending, mortgage banking, wealth management, brokerage and capital markets services. Commerce operates in approximately 330 locations in the central United States and has a nationwide presence in the commercial payments industry.
For additional information, please visit www.commercebank.com.