Commerce Bancshares

Commerce Bancshares, Inc.

Company type	Public
Industry	Banking, Financial services
Founded	1865 (1865)
Founder	Francis Reid Long
Headquarters	Kansas City , United States
Area served	Missouri, Kansas, Illinois, Oklahoma, Colorado, and other states in the US
Products	Business and personal banking, wealth management, investment solutions, mortgage lending, credit-related insurance, venture capital investments, real estate activities
Website	commercebank.com

Commerce Bancshares, Inc. is a regional bank holding company based in Kansas City, Missouri, with main offices located in Kansas City and St. Louis. It serves as the parent corporation of Commerce Bank, providing a broad range of financial services such as business and personal banking, wealth management, and investment solutions through its affiliated entities.

The institution maintains a network of more than 275 branches and ATMs throughout Missouri, Kansas, Illinois, Oklahoma, and Colorado. Its subsidiaries operate in areas including mortgage lending, credit-related insurance, venture capital investments, and real estate activities.

As reported on September 30, 2024, Commerce Bank held the position of the 63rd largest commercial bank in the United States, based on data from the Federal Reserve Bank.

History

Founded in 1865 by Francis Reid Long with an initial capital of $10,000 during the Reconstruction era following the Civil War, the bank was originally named Kansas City Savings Association. In 1881, ownership transferred to Dr. William Stone Woods who renamed it the National Bank of Commerce, establishing it as the largest banking institution west of Chicago. Among its early employees was Harry S. Truman, future U.S. President, who commended Woods for his energetic and principled support of clients.

Arthur Eisenhower, sibling to President Dwight D. Eisenhower, also dedicated over five decades to working at Commerce. The bank adopted the name Commerce Bank in 1903 under its inaugural president, William Thornton Kemper Sr., whose family continues to hold significant influence at Commerce as well as at competitor UMB Financial Corporation. The Kemper family is recognized for their philanthropic contributions within Missouri.

In 1928, Commerce introduced the nation's first around-the-clock banking transit department designed to process out-of-town checks. Innovation persisted with the installation of moving "electric stairs" at its Kansas City headquarters in 1955.

Following World War II, Commerce played a key role in financing prominent Midwestern companies such as H&R Block, Sprint, and Trans World Airlines. A notable transaction occurred in 1954 when it extended a $60,000 loan to Walt Disney that facilitated the opening of Disneyland.

Between the 1960s and 1990s, Commerce expanded its footprint across Missouri, Kansas, and Illinois and became Missouri’s pioneer credit card issuer in 1968. The bank supported Ewing Kauffman’s acquisition of the Kansas City Royals in 1969 and later provided essential credit facilities that contributed to Johnny Morris’s growth of Bass Pro Shops.

During the financial crisis of 2008, Commerce distinguished itself by declining government bailout assistance, underscoring its robust financial health.

Today, Commerce maintains comprehensive branch operations across five Midwestern states, commercial offices spanning eleven additional states, and commercial payment services operating in forty-eight states. In 2023, it unveiled the Commerce Bank Tower in St. Louis as part of its strategy to strengthen regional market presence and foster business expansion.

Lines of business

Commercial Banking – Catering to more than 12,000 corporate clients, Commerce Bank delivers services including corporate lending, merchant and commercial card programs, payment and treasury management solutions, leasing options, international banking services, along with deposit, investment, and cash management offerings tailored for businesses and government entities. This division represented 53% of the bank's pre-tax earnings in 2023.

Consumer Banking – Serving upwards of 800,000 households through over 140 branches, more than 250 ATMs, and digital channels, the bank provides products such as checking accounts, savings accounts, installment loans, mortgages, as well as debit and credit card services.

Private Wealth Management – Via Commerce Trust—a division within Commerce Bank—the company offers comprehensive financial planning including tax strategies, investment portfolio oversight, trust administration services, and private banking tailored for high-net-worth individuals and institutional clients. The Commerce Family Office extends these offerings to ultra-high-net-worth families by providing philanthropic advisory and family governance assistance. As of September 30, 2024, Commerce Trust managed assets exceeding $73 billion across varying market conditions. In 2022, it was ranked twentieth among bank-managed trust companies.

Awards and recognition

• Bank Director's Top 25 Banks – Recognized as one of the leading 25 U.S. banks in 2024.
• Forbes World's Best Banks – Honored for the fifth year running as of 2023.
• Forbes America's Best Banks in Each State – Featured for Missouri in 2023.
• Forbes Best Employer by State: Missouri – Awarded in 2024.
• Forbes America's Best Midsize Employers – Included for seven consecutive years through 2024.
• Human Rights Campaign Corporate Equality Index – Achieved a score of 90 out of 100 for three straight years ending in 2023.
• Newsweek America's Best Regional Bank – Received a 4.5-star rating in both 2024 and 2025.
• Newsweek America's Greatest Workplaces – Selected for the inaugural list in 2023.
• Newsweek Greatest Workplaces for Parents & Families – Earned a four-star rating in 2024.
• S&P Global Market Intelligence Top 50 Public Banks – Acknowledged for financial performance in 2023.
• U.S. News & World Report Best Companies to Work For – Recognized overall, as well as within banking and Midwest sectors for 2024-2025.