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Commerce Bank Taps Nadia McMichael to Lead Historic Tax Credit Services

Nadia McMichaels

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St. Louis, Mo. Commerce Bank announced today the appointment of Nadia McMichael as vice president, historic tax credits. McMichael brings 16 years of broad experience in state and federal historic tax credits, other related credits, and lending strategies.

McMichael advises investor and developer clients as they maneuver through the complex maze of rules and compliance to help maximize the benefits of historic rehabilitation development. She will report to Jason Penfield, executive vice president, Commerce Bank. “We are excited to welcome Nadia to our leadership team,” said Penfield. “Her diverse experience in this specialized area benefits our customers and the communities that will be enhanced by various projects. I look forward to working with her as she helps us broaden our offerings and grow this area of our business.”

McMichael first began her career at Commerce in 2000 and served as a tax credit specialist for several years. She returned to Commerce and the tax credit services division in 2022 bringing additional experience with investment firms and has earned increasing responsibility for leadership of the division.

“Nadia has proven to not only be a wealth of knowledge regarding the field of tax credits, but she is also a collaborative leader, which makes her a great fit for our Commerce culture,” said Bob Holmes, chairman and chief executive officer of Commerce Bank, St. Louis. “Nadia is an asset to our bank and a trusted advisor to our customers.”

“I am honored to lead the tax credit services division at Commerce,” said McMichael. “I find the work of helping customers navigate complex tax application processes to be extremely rewarding. It is always our goal to ease their path and reduce hurdles to clear the way for historic rehabilitation projects that help support a thriving region.”

About Commerce Bank

With $32 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional bank holding company offering a full line of banking services through its subsidiaries, including payment solutions, investment management and securities brokerage. One of its subsidiaries, Commerce Bank, leverages nearly 160 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. It 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

1As of March 31, 2023