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2006 News Releases
COMMERCE BANK PROMOTES BRUCE BONE TO PRESIDENT—SW ILLINOIS REGION
(Belleville, IL, December 20, 2006) - Seth M. Leadbeater, chairman of Commerce Bank-St. Louis Region, announced today the promotion of Bruce Bone to president, Commerce Bank-Southwestern Illinois Region, effective January 2, 2007. In his new position, Bone will be responsible for managing the Southwestern Illinois region to support the bank’s sales strategies, growth goals and relationship management objectives.
SOUTH TULSA FINANCIAL CORPORATION AND COMMERCE BANCSHARES, INC. ANNOUNCE MERGER AGREEMENT
(Kansas City, MO and Tulsa, OK, Dec. 4, 2006) – Commerce Bancshares, Inc. (NASDAQ:CBSH) and South Tulsa Financial Corporation today jointly announce the execution of a merger agreement in which South Tulsa Financial Corporation will merge with Commerce Bancshares, Inc. in a transaction valued at approximately $26.2 million in Commerce Bancshares stock. South Tulsa is the parent company of Bank South. Commerce’s acquisition of Bank South will add $124 million in assets, $107 million in gross loans, $100 million in total deposits, and two branch locations in Tulsa, Oklahoma.
COMMERCE BANCSHARES RANKED NUMBER TWO AMONG TOP 150 PERFORMING BANKS BY BANK DIRECTOR MAGAZINE
(St. Louis, MO – December 04, 2006) - Commerce Bancshares, Inc. was ranked No. 2 of the 150 top performing banks in the Bank Director magazine 4th Quarter 2006 publication. The ranking measures each institution across three important categories including profitability, capital adequacy, and asset quality for the yearly period July 2005 to June 2006. For more information click http://www.bankdirector.com/issues/current/
THE WALL STREET JOURNAL RANKS COMMERCE MUTUAL FUNDS AMONG TOP PERFORMERS
(St. Louis, MO – November 07, 2006) - In the Wall Street Journal’s “Mutual Fund Quarterly Review – Category Kings” two Commerce Funds were recognized for outstanding performance during the past year.
COMMERCE BANCSHARES, INC. DECLARES STOCK AND QUARTERLY DIVIDENDS
(St. Louis, MO – October 20, 2006) - Commerce Bancshares, Inc. announced today that its Board of Directors approved a 5 percent stock dividend. Certificates evidencing the dividend are to be distributed on December 13, 2006 to shareholders of record at the close of business on November 29, 2006. No fractional shares will be issued and shareholders will receive cash for such fractional interests based on the market value of the stock on the record date.
COMMERCE BANCSHARES, INC. REPORTS FIRST NINE MONTHS EARNINGS PER SHARE GROWTH OF 3%
(St. Louis, MO, October 17, 2006) —Commerce Bancshares, Inc. announced earnings of $2.41 per share for the nine months ended September 30, 2006, an increase of 3% compared to $2.35 per share during the same period in 2005. Net income for the first nine months of 2006 amounted to $162.8 million compared with $167.0 million in the same period last year. The return on average assets for the first nine months ended September 30, 2006 was 1.56%, and the return on average equity was 16.1%. The efficiency ratio was 61.1%.
LEHRTER JOINS COMMERCE BANK AS PRESIDENT OF OKLAHOMA MARKET
(Kansas City, MO, September 1, 2006) – Kevin Barth, executive vice president of Commerce Bancshares, Inc., announced that Rick Lehrter has been named president of the Oklahoma Market.
COMMERCE BANCSHARES, INC. COMPLETES MERGER WITH WEST POINTE BANCORP, INC.
(St. Louis, MO, September 1, 2006) – Commerce Bancshares, Inc. and West Pointe Bancorp, Inc. jointly announced the completion of the acquisition of West Pointe through a merger of the two entities. The transaction, valued at $80.9 million in stock and cash, became effective today. Commerce’s acquisition of West Pointe adds approximately $460 million in assets, $259 million in gross loans and $392 million in total deposits. The transaction also adds five full-service branches to Commerce Bank’s growing network, for a total of seven branches in Southwestern Illinois and a total of 55 branches in the St. Louis Metropolitan area.
DORA GIANOULAKIS RECEIVES COMMUNITY SERVICE AWARD SPONSORED BY COMMERCE BANK
(St. Louis, MO, August 25, 2006) --- Dora Gianoulakis was awarded the 2006 Community Service Award sponsored by Commerce Bank at a luncheon held on Friday, August 25 at Norwood Hills Country Club. Grants totaling $6,500 funded by the William T. Kemper and Commerce Bancshares foundations were given in Dora’s name to the Spanish Lake Community Association.
COMMERCE BANCSHARES FOUNDATION ANNOUNCE CONTRIBUTIONS TO AREA FOOD BANKS
(St. Louis, MO – August 8, 2006 ) – In response to recent summer storms in the metropolitan St. Louis area, the William T. Kemper Foundation and the Commerce Bancshares Foundation announced $35,000 in contributions to area food banks. The recent summer storms, along with slow food donations in the summer, have caused a severe shortage of food supplies. In addition, because of the power outages, some perishable foods targeted for the needy had to be destroyed.
COMMERCE BANK HOLDS RIBBON CUTTING TO CELEBRATE NEW EDWARDSVILLE BANKING CENTER
(St. Louis, MO – July 26, 2006) – Commerce Bank has opened a new full-service Edwardsville branch, located at 2496 Troy Road, near the intersection of Highway 159 and Goshen Road. The new Edwardsville Banking Center provides full-service banking to individuals and businesses and offers a complete range of retail, commercial and investment services.
BROWNFIELD JOINS COMMERCE BROKERAGE SERVICES, INC. AS FINANCIAL CONSULTANT
(COLUMBIA, MO – August 2, 2006) – Teresa Maledy, president, Commerce Bank, Central Missouri Region, announces that David Brownfield has joined Commerce Brokerage Services, Inc., a non-bank subsidiary of Commerce Bank, N.A., as assistant vice president and financial consultant. In his new position, Brownfield is responsible for providing Commerce clients with personalized investment strategies designed to help meet their financial goals.
COMMERCE BANCSHARES, INC. DECLARES DIVIDEND
(Kansas City, MO, July 28, 2006) — Commerce Bancshares, Inc. announced that its Board of Directors has approved a regular quarterly dividend of $0.245 per share on the company's common stock payable September 27, 2006, to stockholders of record at the close of business on September 13, 2006.
COMMERCE BANK ANNOUNCES PROMOTIONS IN COMMERCIAL AND RETAIL BANKING
Columbia, MO, July 25, 2006) – Teresa Maledy, president, Commerce Bank, Central Missouri Region announces the following promotions:
MCGUIRE JOINS COMMERCE BANK AS VICE PRESIDENT, PRIVATE BANKING, THE COMMERCE TRUST COMPANY
(St. Louis, MO, July 24, 2006) --- John Rouse, Director of Private Banking, Commerce Bank, announced that Cari McGuire has joined Commerce Bank as Vice President of Private Banking for The Commerce Trust Company. In her new position, she will provide customized banking and borrowing solutions to professionals, executives and high net-worth individuals.
COMMERCE BANK COMPLETES PURCHASE OF BOONE NATIONAL SAVINGS AND LOAN ASSOCIATION BANKING ASSETS
(Columbia, MO, July 21, 2006) – Teresa Maledy, president and market manager, Commerce Bank, N.A., Central Missouri Region, announced today the completion of Commerce Bank’s purchase of the banking business and assets of Boone National Savings and Loan Association. The purchase, first announced April 5 th, expands Commerce Bank’s presence in the Central Missouri Region with Commerce now offering 16 Columbia banking locations (branches and ATMs), plus additional Loan Production Offices in Ashland and Lake of the Ozarks.
COMMERCE BANK HIRES MIKE McCRACKEN AS NEW COMMUNITY PRESIDENT
(CASSVILLE, MO – July 17, 2006) – Fred Osborn, chairman, Commerce Bank, Mo-Kan Region, announced that Mike McCracken, Barry County native and local business executive, will join the bank’s Barry County division as community president.
COMMERCE BANK ANNOUNCES PROMOTIONS IN COMMERCIAL BANKING DIVISION
(Springfield, MO – July 14, 2006) – John Himmel, chairman, Commerce Bank, Springfield Region, recently announced the following promotions in the bank’s Commercial Division.
COMMERCE BANK PROMOTES ROSS TO WEBB CITY BRANCH MANAGER
(Joplin, MO – July 12, 2006) – Fred Osborn, president, Commerce Bank, MO-Kan Region, announced that Brenda Ross has been promoted to branch manager of the company’s Webb City Banking Center, 1311 S. Madison. In her position, she is responsible for business development and customer service related to the branch’s banking and lending services for consumers and small business. Ross has 12 years of banking experience and prior to her promotion, served as financial services manager for Commerce’s Joplin Southwest location.
COMMERCE BANCSHARES, INC. REPORTS FIRST SIX MONTHS EARNINGS PER SHARE GROWTH OF 10%
(St. Louis, MO, July 12, 2006) — Commerce Bancshares, Inc. announced earnings of $1.60 per share for the six months ended June 30, 2006, an increase of 10% compared to $1.46 per share during the same period in 2005. Net income for the first six months of 2006 amounted to $108.3 million compared with $104.2 million in the same period last year. The return on average assets for the first six months ended June 30, 2006 was 1.59%, and the return on average equity was 16.4%.
COMMERCE BANK HOLDS RIBBON CUTTING TO CELEBRATE NEW TWIN OAKS BANKING CENTER
(St. Louis, MO – June 26, 2006) – Commerce Bank has opened a new full-service Twin Oaks branch, located at 858 Meramec Station Road, near the intersection of Big Bend and Highway 141.
PROFFITT PROMOTED TO ASSISTANT VICE PRESIDENT, COMMERCE BROKERAGE SERVICES, INC.
(Pittsburg, KS – June 16, 2006) – Wendell Wilkinson, president, Commerce Bank, Pittsburg, announces that Missy Proffitt has been promoted to assistant vice president, Commerce Brokerage Services, Inc., a non-bank subsidiary of Commerce Bank, N.A. A regional Financial Consultant based in Pittsburg, she is responsible for providing clients with personalized investment strategies designed to meet their financial goals.
COMMERCE BANK PROMOTES ETHRIDGE TO BUSINESS BANKING OFFICER
(Columbia, MO, April 28, 2006) – Teresa Maledy, president, Commerce Bank, Central Missouri Region recently announced that Bryan D. Ethridge has been promoted to Business Banking Officer. In his position, Ethridge is responsible for business development and relationship management related to Commerce's full line of banking, borrowing and treasury management solutions for Commercial clients.
COMMERCE BANCSHARES, INC. DECLARES DIVIDEND
(St. Louis, MO, April 19, 2006) — Commerce Bancshares, Inc. announced that its Board of Directors has approved a regular quarterly dividend of $0.245 per share on the company's common stock payable June 27, 2006, to stockholders of record at the close of business on June 7, 2006.
WEST POINTE BANCORP, INC. AND COMMERCE BANCSHARES, INC. ANNOUNCE DEFINITIVE MERGER AGREEMENT
(St. Louis, MO and Belleville, IL, April 13, 2006) – Commerce Bancshares, Inc. and West Pointe Bancorp, Inc. today jointly announce signing a definitive merger agreement in which West Pointe will merge with Commerce in a transaction valued at $80.9 million in stock and cash. Commerce’s acquisition of West Pointe will add $477 million in assets, $256 million in gross loans, $402 million in total deposits, and five branch locations and 25 ATMs in St. Clair County, Illinois (Southwestern Illinois region of Metropolitan St. Louis).
BOONE NATIONAL SAVINGS AND LOAN ASSOCIATION AND COMMERCE BANK, N.A., ANNOUNCE AGREEMENT
(Columbia, MO - April 5, 2006)– Rick Kruse, president and CEO of Boone National Savings and Loan Association, and Teresa Maledy, president and market manager, Commerce Bank, N.A., Central Missouri Region, jointly announce today the signing of an agreement whereby Commerce Bank, N.A., will acquire the banking business of Boone National Savings and Loan Association. Nominal consideration recognizes Boone National Savings and Loan Association's equity as of December 31, 2005 of $15,389,000 plus a premium for the banking business of $16,250,000. Pending regulatory approval, the transaction is expected to close in July 2006.
WHORTON EARNS NATIONAL CERTIFICATION WITH IRA SERVICES PROFESSIONAL DESIGNATION
( SPRINGFIELD , MO - March 17, 2006) – Robin Robeson, senior vice president and market executive, The Commerce Trust Company, Springfield Region, recently announced that Diane Whorton has been awarded the Certified IRA Services Professional (CISP) designation. This well respected designation is from the Institute of Certified Bankers (ICB), a nonprofit organization sponsored by the American Bankers Association, Washington, D.C. Whorton is vice president and team leader of The Commerce Trust Company’s Springfield Region offices.
COMMERCE BANK ELIMINATES 2% ORIGINATION FEE ON FEDERAL STUDENT LOANS
(Kansas City, MO - March 14, 2006) – College students who finance their education using federal student loans from Commerce Bank will now pocket a little more cash – at the bank’s expense.
COMMERCE BANK ANNOUNCES OFFICER ELECTIONS AND PROMOTIONS
(Kansas City, MO - March 13, 2006) – The Board of Directors of Commerce Bank, Kansas City, announced the following officer promotions and elections.
COMMERCE TRUST COMPANY ADDS TWO EMPLOYEES IN ST. JOSEPH
(St. Joseph, MO - March 1, 2006) – Commerce Trust Company announces the addition of two employees at its 4 th and Felix branch.
COMMERCE BANCSHARES, INC. INCREASES DIVIDEND 7.2%
(St. Louis, MO - February 17, 2006) Commerce Bancshares, Inc. announced today that its Board of Directors declared a quarterly dividend of $.245 per share on the Company's common stock which represents a 7.2% increase over the prior dividend of $.24 per share when adjusted for the 5 percent stock dividend paid on December 13, 2005. This marks the 37 th consecutive year the company has increased total dividends per share. The dividend is payable on March 28, 2006 to stockholders of record at the close of business on March 9, 2006.
SEDERHOLM JOINS THE COMMERCE TRUST COMPANY AS SENIOR PORTFOLIO MANAGER
(Springfield, MO - February 10, 2006) – Robin Robeson, senior vice president and market executive, The Commerce Trust Company, announced that David Sederholm has joined the Springfield office of The Commerce Trust Company as vice president and senior portfolio manager. Sederholm has more than 24 years of experience in financial analysis, investment and portfolio management. Prior to joining Commerce, he held key positions for national and regional trust and wealth management companies in the Denver, Kansas City and Springfield markets.
KING JOINS COMMERCE BANK AS RESIDENTIAL LENDING SPECIALIST
(Columbia, MO - February 14, 2006) - Teresa Maledy, president, Commerce Bank, Central Missouri region, recently announced that Patty King has joined Commerce as a residential real estate lending specialist. In her position, she is responsible for business development and customer service related to the bank’s full line of mortgage loan products.
COMMERCE BANCSHARES WAS RANKED NUMBER SIX AMONG TOP 150 PERFORMING BANKS BY BANK DIRECTOR MAGAZINE
(ST. Louis, MO - February 10, 2006) - Commerce Bancshares, Inc. was ranked No. 6 of the 150 top performing banks in the Bank Director magazine 1st Quarter 2006 publication . The ranking measures each institution across three important categories including profitability, capital adequacy, and asset quality for the yearly period July 2004 to June 2005.
THE COMMERCE TRUST COMPANY NAMES DAVID F. SCHMID VICE PRESIDENT AND SENIOR INSTITUTIONAL BUSINESS DEVELOPMENT REPRESENTATIVE FOR ST. LOUIS, SOUTHEASTERN MISSOURI AND ILLINOIS MARKETS
(ST. Louis, MO - January 17, 2006) - David F. Schmid has been appointed Vice President and Senior Institutional Business Development Representative at The Commerce Trust Company for St. Louis, Southeastern Missouri and Illinois markets. V. Raymond Stranghoener, President, The Commerce Trust Company, made the announcement today.
COMMERCE BANCSHARES, INC. REPORTS EARNINGS PER SHARE GROWTH OF 7% FOR 2005
Commerce Bancshares, Inc. announced record earnings of $3.16 per share in 2005 compared to $2.95 per share in 2004, an increase of 7%. Total earnings for 2005 amounted to $223.2 million compared to $220.3 million earned in 2004.
COMMERCE BANK PROMOTES BRADLEY TO REGIONAL RETAIL SALES MANAGER
(Columbia, MO – January 3, 2006) – Teresa Maledy, president, Commerce Bank, Central Missouri region, recently announced that Jennifer Bradley has been promoted to Regional Retail Sales Manager. In her position, she is responsible for managing programs to support the bank’s retail sales strategies, growth goals and relationship management objectives.
