NEW YORK (CNN/Money) - Recent transactions at Commerce Bancorp Inc. of New Jersey are beginning to raise eyebrows among investors who have grown weary of scandals involving senior executives.

Commerce Bancorp. has revealed in regulatory filings this year that Chairman and President Vernon Hill and his wife Shirley are profiting from business relationships they conduct with the bank. The company leases land on which it has built 20 branches from limited partnerships in which Hill is a partner, and the annual rental payment last year was $1.3 million, according to regulatory filings.

Commerce Bancorp paid $309,000 last year to use the facilities of Galloway National Golf Club of which Hill is a principal owner. The New Jersey bank also paid a total of $4.2 million last year to Hill's wife, Shirley, for interior design and facilities management services. That includes commissions for purchasing furniture. The company has been using her services for over 25 years, according to filings with the Securities and Exchange Commission.

"We've always reported all the various aspects of our business and how it's handled," Commerce spokesman David Flaherty said. As to the payments made to Hill's wife, Flaherty said those services were fairly priced and "a good value."

Cherry Hill, N.J.-based Commerce Bancorp, parent of Commerce Bank, has $14 billion in assets and 200 branches in Philadelphia, New Jersey and New York. Commerce (CBH: Research, Estimates) shares, a strong performer recently, gained more than three percent to close at $40.75 Friday.

Commerce Bancorp's revelations could cast the bank in league with other corporate miscreants including Adelphia Communications, WorldCom and of course, Enron Corp. Adelphia founder John Rigas allegedly engaged in off-the-books borrowing to use company cash or assets to invest in a golf course and expand the Rigas family's personal cable assets.

WorldCom recently filed the largest bankruptcy in United States history after revealing a $3.8 billion accounting scandal. The troubled telecom also lent $366 million to ex-CEO Bernie Ebbers at interest rates between 2.2 percent and 7 percent.

And Enron collapsed last year after allegedly using thousands of off-the-books partnerships to inflate profits and hide nearly $1 billion in debt. Enron ex-Chief Financial Officer Andrew Fastow, chief architect of the partnerships, allegedly made $30 million for himself from the deals.

In addition to Hill and his wife, Commerce board members also profited handsomely from their business transactions with the bank. The company paid $253,000 last year for real estate appraisal services from a company owned by director Morton Kerr. The bank also received legal services from the law firms of directors Robert Beck, Jack Bershad and Donald DiFrancesco, the former acting governor of New Jersey. Those sums amounted to $2.8 million in 2001, SEC filings said.