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Derrick Brooks Named to Enterprise Digital Strategy Leadership Role and Commerce Bancshares Executive Management Committee

St. Louis, MO – January 25, 2021John Kemper, Chairman and Chief Executive Officer of Commerce Bank, announced today that Derrick Brooks, consumer business digital strategy leader, has been promoted to executive vice president, enterprise digital strategy. Brooks will report to Chuck Kim, executive vice president and Chief Financial Officer, and will join the Commerce Bancshares, Inc. executive management committee effective January 2021.

Brooks’ enterprise-wide leadership of the Company’s digital strategy is indicative of Commerce’s commitment to this critical business area. As 2020 proved, digital product offerings are paramount to any bank’s ability to effectively compete. Customer expectations in this area are high and growing at an accelerating rate, and Commerce expects this trend to continue for the foreseeable future. Brooks will have responsibility for leading Commerce’s digital strategy across the consumer, wealth and commercial lines of business, leveraging his product development expertise to support delivering customer-facing solutions more rapidly.

“Under Derrick’s leadership, Commerce has seen great success in our digital banking initiatives for consumer customers. Derrick brings vast experience to this new role and the strength and expertise of a talented team,” said Kim. “I look forward to his continued success in supporting Commerce’s commitment to transforming our digital experience to best serve the needs of our customers.”

Brooks has more than 20 years of digital product development experience, including 10 years in management and IT consulting helping Fortune 500 companies realize their strategic objectives by delivering competitive digital solutions across desktop, mobile, content management systems and custom application development solutions. Prior to joining Commerce, he served as vice president, digital solutions for Scottrade with business accountability for all client-facing digital trading, banking platforms and digital products. Brooks is an alumnus of the FOCUS St. Louis Leadership program, is a member of the Regional Business Council’s Young Professional Network – Leadership 100 and is actively involved with the Peace of Faith Worship Center. He received a Bachelor of Science in Chemical Engineering from Washington University in St. Louis.


About Commerce Bank

With $32.9 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., 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 www.commercebank.com.

1. As of December 31, 2020