Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional bank holding company headquartered in Missouri, with principal offices in Kansas City and St. Louis. Established in 1865, Commerce Bank, its primary subsidiary, offers a comprehensive suite of financial services, including business and personal banking, wealth management, and investment solutions. The bank operates over 275 branches and ATM locations across Missouri, Kansas, Illinois, Oklahoma, and Colorado, serving a diverse clientele.
Commerce Bank's mission is to understand and embrace its customers' financial challenges, providing personalized advice and industry-leading solutions. The bank's vision is to help customers focus on what matters most by addressing financial complexities, enabling them to achieve their goals. Core values guiding the bank include a long-term perspective, collaborative teamwork, integrity, customer focus, and a commitment to excellence.
Strategically, Commerce Bank emphasizes a super-community banking model that combines large bank products and services with local market knowledge and high-touch customer experiences. The bank specializes in commercial banking, consumer banking, and wealth management. Key technologies utilized include advanced platforms like Databricks, AWS, and Google Cloud, reflecting a strategic emphasis on digital innovation.
As of December 31, 2023, Commerce Bancshares reported revenues of $1.571 billion, operating income of $620 million, net income of $477 million, total assets of $31.701 billion, and equity of $2.964 billion.
The leadership team comprises:
- David W. Kemper, Executive Chairman: With extensive experience in banking, Kemper has been instrumental in guiding the bank's strategic direction.
- John W. Kemper, President and CEO: He has played a pivotal role in enhancing customer experiences and expanding the bank's market presence.
Commerce Bank operates in a competitive landscape with key competitors including:
- Rockland Trust: Founded in 1907, Rockland Trust operates in the banking, financial services, and insurance sectors.
- NexBank: Established in 1922 and headquartered in Dallas, Texas, NexBank offers services in the banking, financial services, and insurance sectors.
- MainSource Bank: Founded in 1904 in Greensburg, Indiana, MainSource Bank operates in the banking, financial services, and insurance sectors.
Commerce Bank has formed strategic partnerships with companies like FIS and Visa, indicating a focus on innovation and collaboration.
Commerce Bank's competitive advantages include innovative products and services, convenient banking locations, 24/7 customer service, rewards and perks, and a strong mobile banking platform.
Looking ahead, Commerce Bank aims to leverage its technological investments and strategic partnerships to enhance customer experiences and expand its market presence. The bank's strong financial position and commitment to innovation position it well for future growth.
For more information, visit Commerce Bank's official website at www.commercebank.com.
