Commerce Bancshares, Inc. (CBSH) News & EventsCBSHCommerce Bancshares, Inc.

Q2 Revenue of $498.9M Exceeds Expectations

Reports Q2 revenue $498.9M, consensus $491.34M. John Kemper, Chief Executive Officer, said, "Commerce delivered a strong quarter, with expanding net interest margin, solid loan growth, lower funding costs and excellent credit quality. These results drove a return on average assets of 1.84% and reflect the strength of our business model, our diversified revenue streams and our team's continued focus on long-standing customer relationships."

Commerce Bank Acquires Nolan & Associates Investment Banking Firm

Commerce Bank today announced it has reached an agreement to acquire Nolan & Associates, a St. Louis-based boutique investment banking firm with global reach that delivers specialized advisory services to middle-market clients, expanding the bank's ability to support clients at critical points in their business cycle. Nolan provides sell-side, buy-side, and capital raise advisory services to business owners, private equity firms, and corporations across a range of industries, including building products, transportation, logistics, energy, healthcare, telecom, business services, manufacturing, distribution, and agriculture. Upon closing, Nolan will operate as a wholly owned subsidiary of Commerce Bank. The two firms have built a relationship grounded in mutual trust and a shared commitment to client service, creating strong alignment leading to this transaction. Commerce intends to retain Nolan's employees and office, ensuring continuity for both clients and employees. This acquisition adds differentiated investment banking capabilities to Commerce's existing commercial and wealth platforms, enhancing the bank's ability to support clients at pivotal moments in their business lifecycle. As part of the deal, Commerce Bank will acquire Middle-Market Transactions, a FINRA-regulated entity through which Nolan & Associates delivers advisory services. Terms of the transaction were not disclosed. The acquisition is subject to regulatory approval and customary closing conditions.

Commerce Bancshares Completes Visa Stock Exchange, Gains $99M

Commerce Bancshares (CBSH) announced that Visa (V) has accepted the company's tender of its 411,723 shares of Visa Class B-2 common stock in exchange for a combination of Visa Class B-3 common stock and Visa Class C common stock. The tender was previously announced by the company on a Form 8-K filed on April 27. "As a result of the Exchange Offer, the Company marked its Visa Class C common stock to fair value and recorded a gain of $99M, based on the conversion privilege of the Visa Class C common stock and the closing price of Visa Class A common stock on May 8, 2026, of $318.79 per share. The Company's Visa Class C common stock shares are expected to continue to be marked to fair value on a recurring basis using the Visa Class A common stock shares as evidence of orderly transactions between market participants for similar securities issued by Visa. Subsequent to the successful close of the Exchange Offer, the Company approved a plan to reposition a portion of its available-for-sale debt securities portfolio through the sale of securities with an amortized cost of approximately $911M. The securities that the Company plans to sell have a yield of approximately 2.5%, which is expected to result in a pretax loss of approximately $95 million. The Company expects to reinvest most of the proceeds into investment securities yielding approximately 4.0%. The Company expects the repositioning to increase net interest income, reduce earnings volatility, reduce exposure to changes in interest rates, and enhance the overall quality and flexibility of the balance sheet. The cumulative impact of the gain on Visa stock as a result of the Exchange Offer and the anticipated securities repositioning is expected to be approximately neutral to the Company's Common Equity Tier 1 ratio," Commerce stated.