Maximizing and Protecting Shareholder Value
People are coming back to well-run and well-capitalized banks because of a need for stability and risk aversion. Commerce's relationship-oriented strategy, along with our focus on deposits and payment systems, is allowing us to grow our business with high satisfaction ratings from our customers. We are proud of our company and its relative performance in these extraordinary times. Commerce Bancshares' financial position remains strong, as evidenced by:
- Commerce Bancshares' stock has significantly outperformed the NASDAQ Bank Index over the last few years in a very difficult economic environment. Over the last 10 years, the average annual shareholder return on the company's stock has been 8.5%, while the S&P 500 Index has declined 1.0%.
- In 2009, Commerce Bancshares paid a dividend of $0.914 per share, marking the 41st consecutive year of year-over-year dividend increases to our shareholders. In addition, we declared a regular dividend for the first quarter 2010.
- Return on average assets was 0.96% in 2009, and return on average equity was 9.76%, compared to the average of banks in the KBW Bank Sector (large cap) Index of (0.16)% and (1.43)%, respectively.
- As further testament to the significance of these results, Forbes magazine ranked Commerce third on its list of America's Best Banks in its January 18, 2010 issue. The magazine scored the nation’s 100 largest banks on eight financial measures, including return on average equity, net interest margin and non-performing loans as a percentage of loans, among others. Commerce was the largest bank by total asset size to make Forbes' Top Ten.
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