Boston Expansion
Excerpt from remarks to Boston College’s Chief Executives’ Club of Boston
April 26, 2012
TAKEAWAY: BOSTON EXPANSION
If you can find me 10 more sites in Boston, we’ll do 10 more stores in Boston next year. So our, literally, our only constraint is finding good sites and getting them in Boston.
If I can tell you our New York City story: Commerce Bank, which was our predecessor bank, entered New York City as the first branch in the end of 2001. Today, with our growth, [with what] we’ve been putting in, without buying a single bank, without buying a single branch, we are now the fifth largest bank in New York, and we will be the third largest in 2016. How many organic growth stories could tell you that story?
We would love to do exactly the same in Boston. It’s just how fast we can find sites to grow those stores.