COMMERCE BANCSHARES, INC.
FINANCIAL HIGHLIGHTS



(Unaudited) For the Three Months Ended For the Nine Months Ended
  June 30 Sept. 30 Sept. 30 Sept. 30 Sept. 30
  2001 2001 2000 2001 2000

INCOME AND EXPENSE   (In thousands)
Net interest income $117,649 $116,014 $120,684 $350,559 $360,887
Taxable equivalent net          
   interest income 118,197 116,570 121,470 352,172 363,197
Non-interest income 70,676 69,534 64,182 207,074 184,969
Provision for loan losses 7,992 8,317 8,216 25,839 27,092
Non-interest expense 111,719 110,071 110,065 329,926 320,623
Net income 45,783 45,518 45,493 135,178 132,351
Cash dividends 10,076 10,023 9,332 30,268 28,372
Net total loan charge-offs 7,963 8,462 6,785 25,839 21,679
   Net business charge-offs 884 1,888 937 5,222 3,036
   Net credit card charge-
    offs
5,355 4,173 3,790 14,352 11,937
   Net personal banking
    charge-offs
1,713 2,321 1,866 6,338 6,284
   Net real estate
    charge-offs (recov)
11 80 192 (73) 422
Per share:          
  Net income - basic $0.72 $0.73 $0.72 $2.15 $2.06
  Net income - diluted $0.72 $0.71 $0.71 $2.12 $2.04
  Cash dividends $0.160 $0.160 $0.148 $0.480 $0.443
Diluted wtd. average
  shares o/s
63,726 63,538 64,237 63,670 64,987

RATIOS          
Average loans to deposits 83.39% 81.18% 88.45% 83.66% 86.55%
Return on total average   assets 1.58% 1.52% 1.65% 1.56% 1.60%
Return on average realized   stockholders' equity 15.60% 15.03% 16.35% 15.36% 16.11%
Return on total average   stockholders' equity 15.23% 14.64% 16.42% 15.02% 16.19%
Efficiency ratio 58.50% 58.71% 58.56% 58.47% 57.71%

AT PERIOD END          
Book value per share   based on realized   stockholders' equity $18.91 $19.35 $17.65    
Book value per share   based on total   stockholders' equity $19.39 $20.18 $17.73    
Market value per share $36.90 $37.62 $35.06    
Allowance for loan losses   as a percentage of loans 1.68% 1.68% 1.63%    
Tier I leverage ratio 9.88% 9.85% 9.68%    
Common shares   outstanding  
62,873,607
 
62,557,136
 
63,182,737
 
Shareholders of record 5,444 5,357 5,463    
Number of bank/ATM   locations 343 341 333    
Number of bank charters 4 4 4    
Full-time equivalent   employees 5,113 5,119 5,095    

OTHER YTD INFORMATION Sept. 30 Sept. 30
  2001 2000
High market value per share $43.63 $35.84
Low market value per share $32.92 $25.12