Commerce Bank Names Paul Steiner Corporate Controller and Chief Accounting Officer

Kansas City, MO  – Commerce Bank has promoted Paul Steiner to Corporate Controller and Chief Accounting Officer of Commerce Bancshares effective immediately.

In his role as Corporate Controller and Chief Accounting Officer, Steiner will lead corporate accounting functions including corporate tax, regulatory reporting, accounting policy and risk management while also managing the company’s accounting staff. A 12-year veteran of Commerce, Steiner has more than 25 years of accounting experience including eight years in public accounting. He most recently served as Assistant Controller and managed a number of accounting areas including the corporate tax function.

“Paul has a proven track record of enhancing our financial operations and processes,” said Charles G. Kim, Chief Financial Officer and Executive Vice President at Commerce Bancshares, Inc. “His breadth of knowledge and strong leadership skills make him the perfect choice to occupy this important role, and we look forward to the impact he will make on our accounting capabilities.”

Matt Burkemper, who joined Commerce Bank in January 2018, as the Senior Vice President of Corporate Development will assume responsibilities for leading Investor Relations for the company. Burkemper has worked in the banking industry for over 12 years with extensive experience in finance, strategic planning, lending and business transformation. All inbound investor relations queries will be directed to Burkemper going forward.

Steiner's promotion to Controller and Chief Accounting Officer and Burkemper's added responsibilities for leading Investor Relations is preceded by the retirement announcement of Jeff Aberdeen. After 31 years of leadership at Commerce, Aberdeen will be retiring effective June 28, 2019. His exit comes at the end of a well-organized, multi-year succession plan. Jeff will continue to support the finance team until his retirement date. For more than three decades, Aberdeen served as a leader, resource and mentor all while positively shaping Commerce’s culture in innumerable ways.

About Commerce Bank
With $25.0 billion in assets¹, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 150 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., the company currently operates banking facilities in nine key markets including St. Louis, Kansas City, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City and Denver. Commerce Bank also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.

1. As of March 31, 2019