Commerce Bancshares, Inc. (CBSH) is a super-community bank headquartered in Missouri, with principal offices in Kansas City and St. Louis. The company provides a broad range of financial products and services to consumer, municipal, and commercial customers through its extensive branch network, online platforms, and mobile application. CBSH specializes in retail and commercial banking, investment management, mortgage banking, and wealth management services.
- Commercial Segment - Offers corporate lending, leasing, international services, business and governmental deposit products, commercial cash management services, merchant and commercial bank card products, and fixed-income securities sales.
- Consumer Segment - Provides consumer loan and deposit products, residential mortgages, indirect and other consumer loan financing, debit and credit card loan and fee businesses, and operates through approximately 140 retail branch locations.
- Wealth Segment - Delivers trust and estate planning, advisory and discretionary investment management, brokerage services, and private banking services.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
David W. Kemper ExecutiveBoard | Executive Chairman | Board member of Washington University in St. Louis; Board member of Missouri Botanical Garden; Board member of St. Louis Art Museum; Board member of Tower Properties Company since October 1989; Board member of Post Holdings, Inc. since September 2015 | David W. Kemper has served as Executive Chairman at CBSH since August 2018. He previously was President (April 1982 to February 2013) and CEO (1991 to August 2018) at CBSH, demonstrating his long-standing leadership in the financial industry. | |
John W. Kemper ExecutiveBoard | President and Chief Executive Officer of Commerce Bancshares, Inc. | Director at Tower Properties Company; Member of Visa Executive Client Counsel | John W. Kemper has served as President and Chief Executive Officer of Commerce Bancshares, Inc. since August 2018 and as President since February 2013. He has been a board member of the company since September 2015. | View Report → |
Charles G. Kim Executive | Chief Financial Officer | Charles G. Kim has served as the Chief Financial Officer at Commerce Bancshares, Inc. since July 2009. He is also the Executive Vice President of CBSH since April 1995 and serves as the Executive Vice President of Commerce Bank since January 2004. | ||
David L. Orf Executive | Executive Vice President | David L. Orf is the Executive Vice President of Commerce Bancshares, Inc. since October 2020 and also serves as Chief Credit Officer since January 2021. Previously, he held senior roles including Executive Vice President of Commerce Bank since January 2014 and a prior role as Senior Vice President. | ||
David L. Roller Executive | Senior Vice President | David L. Roller has been a Senior Vice President of Commerce Bancshares, Inc. (CBSH) since July 2016 and serves as Senior Vice President of Commerce Bank since September 2010. | ||
Derrick R. Brooks Executive | Senior Vice President of Commerce Bancshares, Inc. | Derrick R. Brooks serves as Senior Vice President of Commerce Bancshares, Inc. and as Executive Vice President of Commerce Bank since January 2021. He previously held the role of Senior Vice President of Commerce Bank. | ||
Douglas D. Neff Executive | Senior Vice President of Commerce Bancshares, Inc. | Douglas D. Neff has been the Senior Vice President of Commerce Bancshares, Inc. since January 2019. He also serves as the Chairman and Chief Executive Officer of Commerce Bank Southwest Region since 2013. | ||
John K. Handy Executive | Executive Vice President of CBSH | John K. Handy has served as Executive Vice President of CBSH since January 2018 and as Community President and CEO of Commerce Bank since January 2018. | ||
Kevin G. Barth Executive | Executive Vice President | Kevin G. Barth has served as Executive Vice President at CBSH since April 2005 and as Community President and CEO of Commerce Bank since October 1998, playing a key role in the company's strategy and growth. He previously held roles as Senior Vice President and Officer at Commerce Bank, contributing significantly to its community banking operations. | ||
Kim L. Jakovich Executive | Senior Vice President of the Company | Kim L. Jakovich has been serving as Senior Vice President of Commerce Bancshares, Inc. since April 2022. Previously, she served as Senior Vice President of Commerce Bank since July 2015 and as an Officer of the Company. | ||
Margaret M. Rowe Executive | Vice President & Secretary | Margaret M. Rowe is Vice President & Secretary at Commerce Bancshares, Inc. and is authorized as an Attorney-in-Fact to sign reports on behalf of the company’s directors. The documents do not provide further details about her background, previous roles, or her start date. | ||
Patricia R. Kellerhals Executive | Senior Vice President of Commerce Bancshares, Inc. | Patricia R. Kellerhals has been the Senior Vice President at CBSH since February 2016 and the Executive Vice President of Commerce Bank since 2005, having previously served as Vice President at CBSH. | ||
Paul A. Steiner Executive | Controller (Chief Accounting Officer) | Paul A. Steiner serves as the Controller (Chief Accounting Officer) at CBSH and also co-chairs the Retirement Committee for the Commerce Bancshares Participating Investment Plan. | ||
Paula S. Petersen Executive | Executive Vice President of the Company | Paula S. Petersen has been serving as Executive Vice President of Commerce Bancshares, Inc. since January 2022. She also serves as Executive Vice President of Commerce Bank since March 2012, and previously held the role of Senior Vice President at CBSH. | ||
Richard W. Heise Executive | Senior Vice President of the Company | Richard W. Heise is currently Senior Vice President of the Company at CBSH since April 2022. He also serves as Executive Vice President of Commerce Bank since July 2021. Prior to these roles, he worked in a healthcare tech services company, joining Commerce Bank in February 2017. | ||
Robert S. Holmes Executive | Executive Vice President of Commerce Bancshares, Inc. | Robert S. Holmes has been serving as Executive Vice President at CBSH since April 2015. He is also the Community President and Chief Executive Officer of Commerce Bank since January 2016 , bringing extensive experience from his previous role as Managing Director at a Midwest regional bank. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
L.J. Hart & Company | 2023 | Commerce Bancshares, Inc. completed the acquisition in Q2 2023 to expand its municipal bond underwriting and advisory services; the deal recognized goodwill of $7.5 million as of June 30, 2023 (updated to $7.6 million as of September 30, 2023), aligning with the bank's strategic expansion goals. |
Recent press releases and 8-K filings for CBSH.
- Commerce Bancshares, Inc. reported earnings of $1.14 per share and net income of $152.5 million for the second quarter ended June 30, 2025. This compares to $1.03 per share and $139.6 million in the same quarter last year.
- For Q2 2025, the company achieved a return on average assets of 1.95% and a return on average equity of 17.40%. Net interest income was a record $280.1 million.
- The company announced plans to acquire FineMark Holdings, Inc., which is expected to be approximately 6% accretive to 2026 consensus GAAP earnings and has a 1.6 years tangible book value per share earn back.
- Commerce Bancshares enters a definitive merger agreement (dated June 16, 2025) to acquire FineMark National Bank & Trust in a 100% stock transaction valued at $585M with a fixed exchange ratio of 0.69 shares per FineMark share (equivalent to $41.87 per share) .
- The deal is structured as a tax-free reorganization qualifying under Section 368(a) of the Internal Revenue Code .
- Transaction closing is targeted for January 1, 2026, pending FineMark shareholder approval, required regulatory approvals (Federal Reserve, Missouri Division of Finance), and non-objection from Nasdaq .
- Commerce will file a Form S-4 registration statement (including the FineMark proxy/prospectus) to register common stock issuance, with proxy solicitation involving directors and executive officers from both companies .
- FineMark will retain its name and CEO Joseph Catti, adding 13 offices across Florida, Arizona, and South Carolina and contributing approximately $7.7B–$8B in assets under administration and $4B in banking assets .
- The merger expands Commerce’s wealth management footprint with expected synergies including $15M in annual pretax cost savings, $57M in one-time merger expenses, and fair-value adjustments of $146M (loans), $35M (available-for-sale securities), and $8M (HTM securities) .
- Post-closing, the combined entity is set to manage $84B in wealth assets under administration, $52B under management, and $36B in bank assets, projected to be ~6% accretive to 2026 GAAP EPS with a 1.6-year tangible book value earn-back and a pro forma CET1 ratio of ~17% .
- The meeting included a proxy vote outcome approving the advisory executive compensation proposal and featured introductions of board members and key attendees, including representatives from KPMG.
- CEO John Kemper presented a strategic review emphasizing strong 2024 performance with record net income of $526 million and balanced gains in fee and interest income.
- The discussion reviewed the bank’s diversified business model—spanning consumer, commercial, and wealth management segments—and highlighted significant investments in digital platforms and technology to support growth.
- EPS of $0.98 and net income of $132MM in Q1 2025, marking improvement over last year
- Achieved record net interest income of $269M and strong non-interest income performance ($158.9M and a 7% increase)
- Reported a diversified revenue mix with fee income comprising 37% of total revenue and a robust deposit franchise of $24.5B
- CEO John Kemper highlighted strong execution with a robust credit profile, solid capital and liquidity, and a long-term history of dividend increases
- Trust fees grew by 10.7% in Q1 2025
- Commerce Bancshares Inc. reported Q4 2024 earnings with an EPS of $1.01 and a net income of $136.1 million, reflecting stable quarterly performance compared to prior periods.
- The company highlighted a resilient balance sheet and diversified operating model, noting growth in deposits and investment securities, as well as a 14.6% increase in trust fees year-over-year and a 14.5% rise in book value per share.