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COMMERCE TO PURCHASE AUCTION-RATE SECURITIES FROM CUSTOMERS
(KANSAS CITY, MO, August 15, 2008) – In an effort to meet the liquidity needs of its customers who have purchased auction-rate securities from the bank and have been affected by the collapse of that market, Commerce Bank, N.A. and Commerce Brokerage Services Inc. (Commerce) will offer to repurchase their auction-rate securities. Commerce is a subsidiary of Commerce Bancshares, Inc. (NASDAQ:CBSH). While Commerce considers auction-rate securities to be high quality, investment-grade instruments with a fair rate of return, in February of this year, the auction-rate securities market became illiquid and auctions failed.
BRADSHAW JOINS COMMERCE BANK BOARD OF DIRECTORS
(COLUMBIA, MO, July 22, 2008) – Teresa Maledy, president, Commerce Bank, Central Missouri Region, recently announced the election of Moberly community and business leader, Robert (Brent) Bradshaw to the bank’s Advisory Board of Directors. Bradshaw is vice president of human resources for Orscheln Management Co., Moberly.
COMMERCE BANK PROMOTES SCHOSSOW TO BUSINESS BANKING REPRESENTATIVE
(PITTSBURG, KS - July 23, 2008) – Wendell Wilkinson, president, Commerce Bank, Pittsburg, recently announced that Wade Schossow has been promoted to Business Banking Representative. In his new position, he is responsible for business development and relationship management related to Commerce’s full-line of banking, borrowing and treasury management solutions for commercial clients.
COMMERCE BANCSHARES, INC. DECLARES DIVIDEND
(Kansas City, MO, July 25, 2008) - Commerce Bancshares, Inc. announced that its Board of Directors has approved a regular quarterly dividend of $0.25 per share on the company's common stock payable September 26, 2008, to stockholders of record at the close of business on September 12, 2008.
COMMERCE BANCSHARES, INC. ANNOUNCES
SECOND QUARTER EARNINGS PER SHARE OF $.77
(St. Louis, MO – July 15, 2008) – Commerce Bancshares, Inc. announced earnings of $.77 per share for the three months ended June 30, 2008, an increase of 2.7% compared to $.75 per share in the second quarter of 2007. Net income for the second quarter amounted to $56.0 million compared with $55.6 million in the same period last year. The return on average assets for the three months ended June 30, 2008 was 1.37%, and the return on average equity was 14.1%.
JOHNSON JOINS COMMERCE BANK AS ASSISTANT VICE PRESIDENT, BUSINESS BANKING
(Columbia, MO, April 23, 2008) — Teresa Maledy, president, Commerce Bank, Central Missouri region, recently announced that Lyle Johnson has joined Commerce as Assistant Vice President, Business Banking. In his position, he is responsible for business development and relationship management related to Commerce’s full line of banking, borrowing and treasury management solutions for commercial clients.
OWENS JOINS COMMERCE BANK AS MANAGER OF GLENSTONE BANKING CENTER
(Springfield, MO, April 9, 2008) — John Himmel, chairman, Commerce Bank, Springfield Region, recently announced that Kira Owens has joined Commerce as Assistant Vice President and Branch Manager. Owens will be responsible for branch operations and developing consumer banking, lending, and small business banking relationships at the Glenstone Banking Center, 614 N. Glenstone.
COMMERCE BANCSHARES, INC. DECLARES DIVIDEND
(St. Louis, MO, April 16, 2008) — Commerce Bancshares, Inc. announced that its Board of Directors has approved a regular quarterly dividend of $0.25 per share on the company's common stock payable June 27, 2008, to stockholders of record at the close of business on June 9, 2008.
COMMERCE BANCSHARES, INC. RECEIVES MOODY’S
HIGHEST FINANCIAL STRENGTH RATING AMONG MID-SIZED REGIONAL BANKS
(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.
COMMERCE BANCSHARES, INC. ANNOUNCES
FIRST QUARTER EARNINGS
(St. Louis, MO – April 15, 2008) – Commerce Bancshares, Inc. announced earnings of $.89 per share for the three months ended March 31, 2008, an increase of 27.1% compared to $.70 per share in the first quarter of 2007. Net income for the first quarter amounted to $64.2 million compared to $51.5 million in the same period last year. The return on average assets for the three months ended March 31, 2008 was 1.6%, the return on average equity was 16.5% and the efficiency ratio was 60.1%. The current quarter included a $22.2 million pre-tax cash gain on sale of VISA Inc. (VISA) stock and the reversal of certain VISA litigation charges totaling $8.8 million, on a pre-tax basis.
DUBBERT JOINS COMMERCE BANK TREASURY SERVICES TEAM
(Columbia, MO – April 1, 2008) – Teresa Maledy, president, Commerce Bank, Central Missouri Region, recently announced that Sarah Dubbert has joined Commerce as vice president and manager, Treasury Services Division of Commerce Bank, Central Missouri Region. In her position, she is responsible for business development and relationship management related to Commerce’s electronic banking and cash management services to business customers.
COMMERCE BANK HIRES ADDITIONAL SMALL BUSINESS BANKING SPECIALIST, KRISTY HALE
(Springfield, MO – March 26, 2008) — John Himmel, chairman, Commerce Bank, Springfield Region, announced that Kristy Hale has been hired as Small Business Banking Specialist. This brings the Commerce Bank Small Business Banking team to three full time employees. In her position, she is responsible for implementation and development of initiatives to further establish the bank’s small business banking product packages, offering customized lending, credit and money management solutions for the small business owner/operator.
COMMERCE BANK PROMOTES STONEY ROBERTS TO SMALL BUSINESS BANKING SALES MANAGER
(Springfield, MO – March 18, 2008) — John Himmel, chairman, Commerce Bank, Springfield Region, announced that Stoney Roberts has been named Vice President and Small Business Banking Sales Manager. In his position, he is responsible for management, implementation and development of initiatives to further establish the bank’s small business banking product packages, offering customized lending, credit and money management solutions for the small business owner/operator.
SMITH JOINS COMMERCE BANK AS NIXA BRANCH MANAGER
(Springfield, MO – February 25, 2008) — John Himmel, chairman, Commerce Bank, Springfield Region, announced that Cody Smith has joined Commerce Bank as branch manager of the Nixa Banking Center. In his position, he is responsible for business development, customer service and overall management of the branch and its staff. Smith has more than six years of banking and financial experience and prior to joining Commerce was a branch manager for the local office of a national bank.
JONES JOINS COMMERCE BANK AS COMMERCIAL BANKING OFFICER
(Springfield, MO – February 21, 2008) — John Himmel, chairman, Commerce Bank, Springfield, Region, announced that Ryan Jones has joined Commerce Bank, Springfield, as commercial banking officer. Jones comes to Springfield from Commerce Bank in Lebanon, where he also served as a commercial relationship officer. In his position, he is responsible for business development and relationship management related to Commerce’s full line of banking, borrowing and treasury management solutions for commercial clients.
PROFFITT PROMOTED TO VICE PRESIDENT, COMMERCE BROKERAGE SERVICES, INC.
(Pittsburg, KS – February 20, 2008) — Wendell Wilkinson, president, Commerce Bank, Pittsburg, announces that Missy Proffitt has been promoted to vice president, Commerce Brokerage Services, Inc., a non-bank subsidiary of Commerce Bank, N.A. A regional Financial Consultant based in Pittsburg, she is responsible for providing clients with personalized investment strategies designed to meet their financial goals.
SHAW RECEIVES THE DR. MARTIN LUTHER KING, JR. TRAILBLAZER AWARD FROM NAACP
(Columbia, MO – January 31, 2008) — Valerie Shaw, Executive Vice President, Commerce Bank, Retail Banking Central Missouri, recently received the Dr. Martin Luther King, Jr. Trailblazer Award. This award is given in recognition for service and contributions to the community in multiple aspects. Mary Ratliff, President Columbia Unit NAACP presented the local award to Valerie and stated, “Valerie is an all around community person. She reaches back to help those around her whether through her participation in the NAACP, her church or the Delta Sigma Theta Sorority, Inc. she is always striving to help those around her.”
COMMERCE BANK ANNOUNCES OFFICER PROMOTION AND NEW HIRE
(Joplin, MO – January 24, 2008) — Fred Osborn, President, MoKan Region, Commerce Bank announced the following promotion and new hire for Commerce Bank, Joplin:
RUSSELL JOINS COMMERCE BANK AS COMMERCIAL BANKING OFFICER
(Lebanon, MO – January 17, 2008) — Brian Esther, president, Commerce Bank, Lebanon, recently announced that Jason Russell has joined Commerce as commercial banking officer. Russell comes to Commerce from a national bank, located in the Lake of the Ozarks region, where he served as a commercial relationship manager. In his new position, he is responsible for business development and relationship management related to Commerce’s full line of banking, borrowing and treasury management solutions for commercial clients.
COMMERCE BANCSHARES, INC. INCREASES DIVIDEND 5%
(St. Louis, MO, February 1, 2008) — Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.25 per share on the company's common stock which represents a 5% increase over the prior dividend of $0.238 per share as adjusted for the 5 percent stock dividend paid on December 13, 2007. This marks the 40th consecutive year the company has increased total dividends per share. The dividend is payable on March 28, 2008 to stockholders of record at the close of business on March 10, 2008.
COMMERCE BANCSHARES, INC. (CBSH) ANNOUNCES PRESENTATION TO ANALYSTS AND INVESTORS IN BOSTON AND NEW YORK JANUARY 28-30, 2008
(St. Louis, MO, January 18, 2008) — Commerce Bancshares, Inc. announced today that Chief Financial Officer, Bayard Clark, will be making a presentation to small groups of analysts and investors in both Boston and New York on January 28-30, 2008. The presentation will be an update of the Company’s 2007 financial performance and general business plan.
COMMERCE BANCSHARES, INC. ANNOUNCES
FOURTH QUARTER AND 2007 EARNINGS
(St. Louis, MO, January 15, 2008) — Commerce Bancshares, Inc. announced earnings of $.60 per share for the three months ended December 31, 2007, a decrease of 21.1% compared to $.76 per share in the fourth quarter of 2006. Net income for the fourth quarter amounted to $43.7 million compared to $57.0 million in the same period last year. The current quarter included a pre-tax charge of $21.0 million related to the Company’s share of certain estimated litigation costs of VISA U.S.A., Inc. (VISA). Operating earnings per share, exclusive of this litigation charge, for the current quarter amounted to $.78, or an increase of 3% over last year. On an operating earnings basis, the return on average assets for the three months ended December 31, 2007 was 1.4%, the return on average equity was 14.9% and the efficiency ratio was 59.8%.
COMMUNITY NATIONAL BANK TO BUY COMMERCE BANK
IN
INDEPENDENCE, KS
(Chanute, KS, Jan. 11, 2008) – Community National Bank (CNB) announced today that it has entered into an agreement with Commerce Bank N.A. (NASDAQ:CBSH) to acquire the Commerce Bank locations and ATMs in Independence, Kansas. It is anticipated that the transfer of the purchased assets and deposits (subject to regulatory approval) will take place in second quarter 2008.
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