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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
Pennsylvania Commerce Bancorp, Inc.
-----------------------------------
(Name of Issuer)
Common Stock
----------------------------
(Title of Class of Securities)
708677 109
--------------
(CUSIP Number)
September 29, 2004
-----------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Persons who respond to the collection of information
contained in this form are not required to respond unless
the form displays a currently valid OMB control number.
Page 1 of 5 pages
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CUSIP NO. 708677 109 Schedule 13G Page 2 of 5
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1 NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
Commerce Bancorp, Inc. (22-2433468)
--------- ---------------------------------------------------------------------------------- ----------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
New Jersey
------------------------ ------- ----------------------------------------------------------------------------------
5 SOLE VOTING POWER
283,400 shares (1) (See Item 4)
NUMBER OF SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:
------- ----------------------------------------------------------------------------------
6 SHARED VOTING POWER
0 shares
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7 SOLE DISPOSITIVE POWER
283,400 shares (1) (See Item 4)
------- ----------------------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 shares
------------------------ ------- ----------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
283,400 shares (See Item 4)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions)
Not applicable.
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11.68% (See Item 4)
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12 TYPE OF REPORTING PERSON (See Instructions)
CO
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(1) Does not include 143,666 shares (adjusted for stock dividends) of the
Issuer's common stock which Commerce Bancorp, Inc. is entitled to purchase
in the event of a "change in control" (as defined in the warrant
agreement) of the Issuer.
Page 3 of 5
Item 1(a) Name of Issuer:
--------------
Pennsylvania Commerce Bancorp, Inc. (the "Issuer")
Item 1(b) Address of Issuer's Principal Executive Offices:
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100 Senate Avenue, Camp Hill, PA 17011
Item 2(a) Name of Person Filing:
---------------------
Commerce Bancorp, Inc.
Item 2(b) Address of Principal Business Office or, if none, Residence:
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1701 Route 70 East, Cherry Hill, NJ 08034-5000
Item 2(c) Citizenship:
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New Jersey
Item 2(d) Title of Class of Securities:
-----------------------------
Common Stock
Item 2(e) CUSIP Number:
------------
708677 109
Item 3 Not Applicable
Item 4 Ownership:
---------
(a) Amount beneficially owned: As of September 29, 2004,
Commerce Bancorp, Inc. beneficially owned 283,400
shares of common stock of the Issuer. Does not
include 143,666 shares (adjusted for stock dividends)
of the Issuer's common stock which Commerce Bancorp,
Inc. is entitled to purchase in the event of a
"change in control" (as defined in the warrant
agreement) of the Issuer. Such warrants are fully
transferable and expire on October 7, 2008.
The filing of this Schedule 13G shall not be
construed as an admission that (a) Commerce Bancorp,
Inc. is, for purposes of Section 13(d) or 13(g) of
the Securities Exchange Act of 1934, as amended, the
beneficial owner of any equity securities covered by
this Schedule 13G or (b) that this Schedule 13G is
legally required to be filed by Commerce Bancorp,
Inc.
(b) Percent of class: 11.68%. (Based on 2,425,966 shares
of Issuer's common stock outstanding as of July 31,
2004 (as reported in the Company's Form 10-Q for the
quarterly period ended June 30, 2004), as adjusted to
include 100,000 shares of Issuer's common stock
issued to Commerce Bancorp, Inc. on September 29,
2004 in a private placement transaction.)
(c) Number of shares as to which Commerce Bancorp, Inc.
has:
(i) sole power to vote or to direct the vote: 283,400
shares of common stock of the Issuer;
(ii) shared power to vote or to direct the vote: 0 shares of
common stock of the Issuer;
(iii)sole power to dispose or to direct the disposition of:
283,400 shares of common stock of the Issuer; and
(iv) shared power to dispose or to direct the disposition
of: 0 shares of common stock of the Issuer.
Item 5 Ownership of Five Percent or Less of a Class:
---------------------------------------------
Not Applicable
Item 6 Ownership of More Than Five Percent on Behalf of Another
Person:
--------------------------------------------------------------
Not Applicable
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent
--------------------------------------------------------------
Holding Company or Control Person:
Not Applicable
Item 8 Identification and Classification of Members of the Group:
---------------------------------------------------------
Not Applicable
Item 9 Notice of Dissolution of Group:
------------------------------
Not Applicable
Item 10 Certification
-------------
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
Page 5 of 5
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Commerce Bancorp, Inc.
Date: October 7, 2004 By:/s/ Douglas J. Pauls
--------------- --------------------------------
Name: Douglas J. Pauls
Title: Senior Vice President and
Chief Financial Officer