A letter from John Kemper, President and CEO of Commerce Bancshares, Inc.

March 13, 2023

Dear Customer,

We recognize that market uncertainty can be concerning, and the recent closures of Silicon Valley Bank and Signature Bank by the FDIC and other US regulators are unfortunate and unsettling. During times like these, we want to remind you of the strength and stability of Commerce Bank.

Commerce is a highly diversified, main street bank with the experience and knowledge that comes with serving customers for nearly 160 years through all economic cycles. We are well-capitalized, have a stable deposit base and have historically performed well in challenging times. Our long history of sound asset quality, prudent expense management, and strong levels of capital and liquidity, position us well for times of economic stress.

Commerce is proud to be counted among the safest banks in the country. In 2022, Moody’s reaffirmed our bank’s financial strength by assigning Commerce an a1 baseline credit assessment. Commerce is one of only five banks in the country to hold a credit rating at this level or better.

Our commitment to you is unwavering, and we are grateful for the trust and confidence you place in us each day. Thank you for the continued opportunity to serve as your financial partner. If you have questions, please do not hesitate to speak with anyone on our team. We are always available to you and look forward to continuing to serve you.

Sincerely,

John Kemper
President and CEO
Commerce Bancshares, Inc.