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2007 News Releases
COMMERCE BANCSHARES, INC. DECLARES STOCK AND QUARTERLY DIVIDENDS
(Kansas City, MO, October 26, 2007) — Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors approved a 5 percent stock dividend payable on December 13, 2007 to shareholders of record at the close of business on November 29, 2007. For the first time, the Company will be issuing the shares in a non-certificated form. Shares issued as a result of the stock dividend will be entered by Direct Registration System on the records of the Company’s transfer agent, Computershare, and statements reflecting the issuance will be mailed on December 13, 2007. No fractional shares will be issued and shareholders will receive cash for such fractional interests based on the market value of the stock on the record date.
COMMERCE BANCSHARES, INC. REPORTS THIRD QUARTER EARNINGS PER SHARE OF $.81
(St. Louis, MO, October 16, 2007) — Commerce Bancshares, Inc. announced earnings of $.81 per share for the three months ended September 30, 2007, an increase of 5.2% compared to $.77 per share in the third quarter of 2006. Net income for the third quarter amounted to $55.9 million compared to $54.5 million in the same period last year. The return on average assets for the three months ended September 30, 2007 was 1.43%, the return on average equity was 15.1% and the efficiency ratio was 59.8%.
A STATEMENT FROM COMMERCE BANK
(St. Louis and Kansas City, Missouri, October 9, 2007) — Commerce Bank has discovered an attempted hacking on a computer system. The hacking was detected and quickly shut down. Commerce immediately notified law enforcement authorities and is working with them in their investigation.
COMMERCE TRUST COMPANY WELCOMES MARCY DOLLENS
(Springfield, Missouri, September 6, 2007) — Chris Sweet, senior vice president and market executive, The Commerce Trust Company, Springfield Region, recently announced Marcy Dollens has been appointed Vice President, Wealth Management Consultant for the Commerce Trust Company. Her responsibilities include offering personal trust and investment management to prospective clients, as well as, developing, building, and retaining referral relationships.
COMMERCE BANK PROMOTES MORRIS TO BRANCH MANAGER OF HY-VEE BANKING CENTER
(Columbia, Missouri, September 4, 2007) — Teresa Maledy, president, Commerce Bank, Central Missouri region, recently announced that Adam Morris has been promoted to branch manager of Commerce Bank’s Hy-Vee Banking Center, located inside the Hy-Vee, 3100 W. Broadway. In his position, Morris is responsible for managing retail sales and customer service at the Hy-Vee location. He has six years of banking experience and prior to his promotion was a senior financial service representative at the East Pointe branch.
COMMERCE BANK PARTNERS WITH PARKADE ELEMENTARY SCHOOL FOR PROFESSIONAL AND INTERPERSONAL DEVELOPMENT TRAINING
(Columbia, Missouri, August 14, 2007) — Today teachers and staff at Columbia’s Parkade Elementary had the opportunity to earn Columbia Public School’s Staff Development Credit by attending "Communicating For Success: Using the DiSC™ Model" training, which was sponsored and facilitated by Commerce Bank’s Organizational Development Team and local Commerce executive staff.
COMMERCE TRUST COMPANY WELCOMES DON DAVIS
(Springfield, Missouri, August 8, 2007) — Chris Sweet, senior vice president and market executive, The Commerce Trust Company, Springfield Region, recently announced Don Davis has been appointed Vice President, Portfolio Manager of Commerce Capital Advisors, a division of Commerce Trust Company. His responsibilities include building custom, well diversified portfolios and reviewing their progress for personal trust and investment management clients.
THE COMMERCE TRUST COMPANY AND THE KANSAS CITY CHIEF AMBASSADORS HOSTED YMCA TEENS
(Springfield, Missouri, August 8, 2007) — The Commerce Trust Company and The Kansas City Chief Ambassadors hosted YMCA teens for an autograph session. Commerce Bank partnered with the Kansas City Chief’s Ambassadors for a private Commerce Trust event. Prior to the event the Ambassadors agreed to sign autographs for the YMCA teens.
COMMERCE BANCSHARES, INC. DECLARES DIVIDEND, ANNOUNCES NEW DIRECTOR
(St. Louis, Missouri, July 27, 2007) — Commerce Bancshares, Inc. (CBSH) 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, 2007, to stockholders of record at the close of business on September 13, 2007.
COMMERCE BANK ANNOUNCES OFFICER PROMOTIONS AND NEW HIRE
(Columbia, MO, July 19, 2007) — Teresa Maledy, president, Commerce Bank, Central Missouri region, recently announced the following promotions and new hire in the Retail Management division of Commerce Bank: Jennifer Truesdell has been promoted to assistant vice president and branch manager of Commerce Bank’s Bernadette Banking Center, 2000 Bernadette. Kelly Webb has been promoted to retail banking officer and branch manager of Commerce Bank’s new Brown School Road Banking Center, Brown School Road & Rangeline. Amy Courtney has joined Commerce Bank as retail banking officer and branch manager of the Business Loop Banking Center, 500 Business Loop 70 West.
COMMERCE BANCSHARES, INC. REPORTS SECOND QUARTER EARNINGS PER SHARE OF $.79
(St. Louis, MO, July 12, 2007) — Commerce Bancshares, Inc. announced earnings of $.79 per share for the three months ended June 30, 2007, an increase of 1.3% compared to $.78 per share in the second quarter of 2006. Net income for the second quarter amounted to $55.6 million compared with $55.3 million in the same period last year. The return on average assets for the three months ended June 30, 2007 was 1.46%, and the return on average equity was 15.1%.
PONDER PROMOTED TO RELATIONSHIP MANAGER - ASHLAND LOAN CENTER
(Columbia, MO – July 10, 2007) — Teresa Maledy, president, Commerce Bank, Central-Missouri Region, announced that Kim Ponder has been named relationship manager for Commerce’s Ashland Loan Center. In her position she is responsible for business development, customer service and overall management of the Ashland location.
COMMERCE BANCSHARES, INC. COMPLETES ACQUISITION OF COMMERCE BANK (DENVER, COLORADO)
(Kansas City, MO and Denver, CO, JULY 2, 2007) — Missouri-based Commerce Bancshares, Inc. (NASDAQ:CBSH) and Commerce Bank in Denver, Colorado today jointly announce the completion of the acquisition of Commerce Bank by Commerce Bancshares, Inc. The transaction was valued at $29.5 million, consisting entirely of cash. Commerce’s acquisition of the independent Colorado Commerce Bank adds $100.9 million in assets, $73.9 million in gross loans, $69.8 million in total deposits and its first location in Colorado. Commerce Bancshares, Inc. is a $15.2 billion bank holding company with approximately 360 locations, located mainly in Missouri, Illinois, Kansas and Oklahoma.
COMMERCE BANK ROLLS OUT NEW "SURPRISING RELATIONSHIPS" ADVERTISING CAMPAIGN
(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.
CHRIS SWEET JOINS COMMERCT TRUST COMPANY AS SENIOR VICE PRESIDENT, MARKET EXECUTIVE
(Springfield, MO. - June 6, 2007) — John Himmel, chairman, Commerce Bank, Springfield Region announced that Chris Sweet has joined The Commerce Trust Company as Senior Vice President, and Market Executive. In his new position, Sweet has overall responsibility for managing The Commerce Trust Company in the Springfield Region. He will focus on all aspects of staff development, new business development and relationship management related to the division’s asset management, traditional trust and financial advisory services, private client group and private banking services for individual and institutional clients.
COMMERCE BANK ANNOUNCES WINNER OF “REAL LIFE TAKES REAL MONEY” SWEEPSTAKES
(Hays, KS – May 31, 2007) — Commerce Bank announces that Trevor McKee, of Abilene, Kansas, has won a $500 Commerce Bank Visa® Gift Card in the Commerce Bank “Real Life Takes Real Money” Sweepstakes. The 21-year old McKee is a freshman at Fort Hays State University, where he is majoring in psychology.
HUNTER RECEIVES MU’S COLLEGE OF BUSINESS ALUMNI CITATION OF MERIT
(Columbia, MO – May 29, 2007) — Charles Hunter, Vice President and Central Missouri Region Human Resources Manager, Commerce Bank, recently received Missouri University’s College of Business Alumni Citation of Merit at its annual Honors Luncheon. This award is given to College of Business graduates based on career accomplishments and support of the college through service on an advisory board, presenting guest lectures, assisting with placement of the college’s graduates and/or financial contributions.
COMMERCE BANCSHARES, INC. AND THE WILLIAM T. KEMPER FOUNDATION DONATE TO GREENSBURG RELIEF FUND
(Wichita, KS – May 10, 2007) — Commerce Bancshares, Inc. and The William T. Kemper Foundation will donate a combined $17,500 to the United Way of the Plains’ “Green for Greensburg Fund.” The organization is collecting funds for the Greensburg relief and future rebuilding efforts.
COMMERCE BANCSHARES, INC. DECLARES DIVIDEND
(Kansas City, MO, April 18, 2007) — 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, 2007, to stockholders of record at the close of business on June 7, 2007.
COMMERCE BANCSHARES ANNOUNCES ANNUAL SHAREHOLDERS MEETING AVAILABLE BY WEBCAST
(Kansas City, MO, April 12, 2007) —Commerce Bancshares, Inc. (NASDAQ: CBSH), a registered bank holding company offering a full line of banking services, announced that the company's annual meeting of shareholders on Wednesday, April 18, 2007 will be available by webcast. Commerce Bancshares, Inc. Chairman and Chief Executive Officer, David Kemper, will begin the formal presentation to be webcast at 9:30 a.m. CDT.
COMMERCE BANCSHARES, INC. REPORTS FIRST QUARTER EARNINGS PER SHARE OF $.73
(St. Louis, MO, April 12, 2007) —Commerce Bancshares, Inc. announced earnings of $.73 per share for the three months ended March 31, 2007, a decrease of 1.4% compared to $.74 per share in the first quarter of 2006. Net income for the first quarter amounted to $51.5 million compared with $52.9 million in the same period last year, or a decrease of 2.7%. The return on average assets for the three months ended March 31, 2007 was 1.4%, and the return on average equity was 14.4%.
COMMERCE BANCSHARES, INC. ANNOUNCES ACQUISITION OF COMMERCE BANK (DENVER, COLORADO)
(Kansas City, MO and Denver, CO, April 3, 2007) – Commerce Bank in Denver, Colorado and Missouri-based Commerce Bancshares, Inc. (NASDAQ:CBSH), today jointly announce the execution of a merger agreement in which Commerce Bank will merge with Commerce Bancshares, Inc. in a transaction valued at approximately $29.5 million consisting entirely of cash. Commerce’s acquisition of the independent Colorado Commerce Bank will add $96.8 million in assets, $70.0 million in gross loans, $75.5 million in total deposits and its first location in Colorado.
COMMERCE BANK HOLDS RIBBON CUTTING TO CELEBRATE NEW BROWN SCHOOL ROAD BANKING CENTER
(Columbia, MO, April 3, 2007)Commerce Bank has opened a new full-service Columbia branch, located at 1220 E. Brown School Road, at the corner of Brown School Road and Rangeline Street. The new Brown School Road Banking Center offers full-service banking to individuals and businesses plus offers a complete range of retail, commercial and investment services.
COMMERCE BANCSHARES, INC. ANNOUNCES COMPLETION OF MERGER WITH SOUTH TULSA FINANCIAL CORP.
(Kansas City, MO and Tulsa, OK, March 30, 2007) –Commerce Bancshares, Inc. (NASDAQ:CBSH) announced today that the shareholders of South Tulsa Financial Corporation, parent company of Bank South, have approved the merger of South Tulsa with Commerce. The transaction is valued at approximately $27.3 million in Commerce Bancshares stock.. Commerce’s acquisition of Bank South adds approximately $129 million in assets, $114 million in gross loans and $105 million in total deposits. The transaction also adds two full-service banking centers to Commerce Bank’s growing network; its first banking locations in the state of Oklahoma.
OLLIS AUTHORIZED AS CERTIFIED FINANCIAL PLANNER™
(Springfield, MO, March 29, 2007) – Christopher Ollis, vice president and portfolio manager, The Commerce Trust Company, a division of Commerce Bank, N.A., has been authorized by the Certified Financial Planner Board of Standards to use the Certified Financial Planner™ mark in accordance with CFP Board certification and renewal requirements.
COMMERCE BANCSHARES, INC. PROMOTES MICHAEL BUDE TO TREASURER
(St. Louis, MO, March 28, 2007) —Commerce Bancshares, Inc. announced today the promotion of Michael Bude to Treasurer. Bude has been with Commerce since 1998 and has served as the Interest Rate Risk manager. In his new position, Bude will have primary responsibility for interest rate risk management, capital management, and liquidity management for Commerce.
COMMERCE BANK ANNOUNCES PROMOTIONS IN GROUP OPERATIONS DIVISION
(Columbia, MO, March 15, 2007) – Teresa Maledy, president, Commerce Bank, Central Missouri region, recently announced the following promotions in the bank’s Group Operations Divisions: Owenetta Murray has been promoted to Vice President, Retail Operations. Amy Hoehne has been promoted to Retail Group Operations Officer.
COMMERCE TRUST COMPANY ANNOUNCES PROMOTION AND ADDITION TO STAFF IN PRIVATE BANKING DIVISION
(Springfield, MO, March 12, 2007) – Robin E. Robeson, senior vice president and market executive, The Commerce Trust Company, recently announced the following staff changes in the Private Banking Division: Andrea McKinney has been promoted to senior vice president and manager of Commerce’s Private Banking Division. In her position, she is responsible for managing business development and customer service for the Private Banking Group in the Springfield Region. Reed Hopper has joined Commerce Bank as assistant vice president of the Private Banking Group. In his position, he is responsible for providing customized banking and borrowing solutions to professionals, executives and high net-worth individuals.
COMMERCE BANCSHARES, INC. ANNOUNCES STOCK BUYBACK
(St. Louis, MO, February 2, 2007) — Commerce Bancshares, Inc. announced today that its Board of Directors approved the additional purchase of up to 2,844,425 shares of company stock. This, coupled with the shares left to be purchased under the prior authorization will provide the Company with authority to repurchase 4,000,000 shares.
COMMERCE BANCSHARES, INC. INCREASES DIVIDEND 7.2%
(St. Louis, MO, February 2, 2007) — Commerce Bancshares, Inc. 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 7.2% increase over the prior dividend of $0.245 per share when adjusted for the 5 percent stock dividend paid on December 13, 2006. This marks the 38th consecutive year the company has increased total dividends per share. The dividend is payable on March 28, 2007 to stockholders of record at the close of business on March 9, 2007.
COMMERCE BANCSHARES, INC. ANNOUNCES CHANGES TO BOARD OF DIRECTORS
(St. Louis, MO, February 2, 2007) — David W. Kemper, chairman of the board of directors of Commerce Bancshares, Inc. (CBSH) announced today the election of Kimberly G. Walker to the Board of Directors. Ms. Walker is the Chief Investment Officer of Washington University Investment Management Company since November 2006 and was formerly Vice President of Qwest Communications International and President of Qwest Assets Management Company. "We are very pleased to announce the appointment of Kimberly Walker to the Commerce Bancshares, Inc. Board of Directors," commented David W. Kemper. "As chief investment officer for one of the largest endowments in the country, Kim brings a wealth of experience in both financial markets and corporate governance."
SEARS JOINS COMMERCE BANK AS BUSINESS BANKING SPECIALIST
(Cassville, MO, January 29, 2007) — Mike McCracken, president, Commerce Bank, Barry County, recently announced that Tom Sears has joined Commerce as Business Banking Specialist. 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.
COMMERCE BANCSHARES, INC. HOSTS INVESTOR MEETINGS IN NEW YORK JANUARY 29-31, 2007
(Kansas City, Missouri, January 26, 2007) — Commerce Bancshares, Inc. (NASDAQ:CBSH) announced today that chief financial officer, Bayard Clark, will be making a presentation to small groups of analysts and investors in New York on January 29-31, 2007. The presentation will be an update of the Company’s 2006 financial performance and general business plan.
ALEXANDER JOINS COMMERCE BANK AS VICE PRESIDENT, BUSINESS BANKING
(Columbia, Missouri, January 19, 2007) — Teresa Maledy, president, Commerce Bank, Central Missouri region, recently announced that Jay Alexander has joined Commerce as 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. Alexander has 10 years of experience and prior to joining Commerce, served as a commercial lender with another local financial institution.
COMMERCE BANK PROMOTES BRADLEY TO RETAIL BANKING OFFICER
(Columbia, Missouri, January 18, 2007) — Teresa Maledy, president, Commerce Bank, Central Missouri region, recently announced that Jennifer Bradley has been promoted to Retail Banking Officer, Retail Sales Division. In her position, she is responsible for managing programs to support the bank’s retail sales strategies, growth goals and relationship management objectives.
COMMERCE BANCSHARES, INC. REPORTS EARNINGS PER SHARE GROWTH OF 3% FOR 2006
(St. Louis, MO, January 16, 2007) — Commerce Bancshares, Inc. announced record earnings of $3.09 per share in 2006 compared to $3.01 per share in 2005, an increase of 3%. Net earnings for 2006 amounted to $219.8 million and compared to $223.2 million in 2005 which included non-recurring tax benefits of $13.7 million or $.18 per share. For the year the return on average assets was 1.54%, the return on average equity was 16.0%, and the efficiency ratio was 60.6%.
DELLASEGA JOINS COMMERCE BANK BOARD OF DIRECTORS
(Pittsburg, Kansas, January 2, 2007) — Wendell Wilkinson, community president, Commerce Bank, Pittsburg, recently announced the election of community and business leader, Joe Dellasega, to the bank’s Board of Directors. Dellasega is partner and owner of U.S. Awards, a manufacturer of chenille award emblems for high schools nationwide and Dellasega & Associates, a marketing consulting division of U.S. Awards. He is a Pittsburg native and a graduate of Pittsburg State University.
