|
(Kansas City, MO – April 15, 2008) — According to a report published March 12th, Moody’s Investor Services reaffirmed the financial stability of Commerce Bancshares, Inc., (NASDAQ – CBSH) by giving the Missouri-based bank holding company a composite financial strength rating of B+. The deposits of the company’s lead bank were rated Aa2. Both ratings have a stable outlook.
David W. Kemper, Chairman and CEO of Commerce Bancshares, commented, “We are pleased that Moody's continues to rate Commerce Bancshares, Inc. among the strongest, mid-sized regional banks in the country. Commerce is the only bank company receiving a B+ or higher overall financial rating among the 37 regional banks with assets between $10 billion and $100 billion. Of the 50 largest banks in the country, only four have a higher rating. While this is a challenging economic environment for many banks, Commerce’s disciplined lending philosophy and strong investment portfolio serve us well at a time when credit discipline and capital adequacy have become central issues in our industry. Our super community banking platform allows us to provide high service levels and competitive products while generating the type of financial returns that enabled Commerce to receive consistently high ratings from Moody’s."
A Deposit Rating of Aa2 reflects a financial institution with obligations that are judged to be of high quality and are subject to less volatility. The report also states that a Financial Strength Rating of B or greater indicates the institution possesses strong intrinsic financial strength. The report adds that typically, institutions with this rating will have valuable and defensible business franchises, good financial fundamentals and a stable operating environment.
About Commerce Bank
Commerce Bank, N.A. is a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), a $16.8 billion regional bank holding company. For more than 140 years, Commerce Bank has been meeting the financial services needs of individuals and businesses. Commerce Bank provides a diversified line of financial services, including business and personal banking, wealth management and estate planning and investments through its subsidiary and affiliated companies. Commerce Bank currently operates in approximately 360 locations in Missouri, Kansas, Illinois, Oklahoma and Colorado. Commerce Bancshares also has operating subsidiaries involved in mortgage banking, leasing, credit-related insurance, venture capital and real estate activities.
**********************************************************************************
For more information, contact:
Jeff Aberdeen, Controller
Jeff.Aberdeen@Commercebank.com
816-234-2081; or
Molly Hyland, Public Relations Officer
Molly.Hyland@Commercebank.com
314-746-3657
Web Site: www.commercebank.com
Email mymoney@commercebank.com.
# # #
|
