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Commerce Bancshares, Inc. Declares Stock Dividend and Quarterly Cash Dividend on Common Stock

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KANSAS CITY, Mo.--()--Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors approved a 5 percent common stock dividend payable on December 18, 2020 to shareholders of record at the close of business on December 2, 2020. Statements reflecting the issuance of shares as a result of the stock dividend should be mailed on or about December 18, 2020. 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.

The Board of Directors also declared a quarterly dividend of $0.27 per share on the Company's common stock payable December 18, 2020, to stockholders of record at the close of business on December 2, 2020 (the dividend will not be payable on any shares to be issued pursuant to the 5% stock dividend).

About Commerce Bancshares, Inc.

With $31.5 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 150 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. It also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.

1. As of September 30, 2020

Contacts

Matthew Burkemper, (314) 746-7485
Matthew.Burkemper@CommerceBank.com

Commerce Bancshares, Inc.

NASDAQ:CBSH

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Commercial Banking
Finance and Insurance
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Finance, Regional Banks, Finance and Insurance, Commercial Banking

About CBSH

commerce bank, a missouri-based company, operates as a super-community bank offering an array of sophisticated financial products delivered with high-quality, personal customer service including: • lending; • payment systems and processing; • trust and brokerage services; • capital markets; • full-feature online banking; • a central contact center; and • an expansive atm network. commerce serves its customers in more than 200 branches in missouri, kansas, illinois, oklahoma and colorado, as well as commercial offices in cincinnati, nashville, and dallas. we believe in conducting business with the highest standards of governance and ethics. we provide products and services that meet the rising expectations of our customers; attract and retain quality employees; support our communities; and work to lessen our environmental impact. we have headquarters in kansas city and st. louis with a fifth-generation of family management and empowered local managers in our community banks.