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

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors approved a 5 percent common stock dividend payable on December 18, 2019 to shareholders of record at the close of business on December 3, 2019. Statements reflecting the issuance of shares as a result of the stock dividend should be mailed on or about December 18, 2019. 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 $0.26 per share on the Company's common stock payable December 18, 2019, to stockholders of record at the close of business on December 3, 2019 (the dividend will not be payable on any shares to be issued pursuant to the 5% stock dividend), and a quarterly dividend of $0.375 per depositary share on the Company’s Series B non-cumulative perpetual preferred stock (NASDAQ: CBSHP) payable December 2, 2019, to stockholders of record at the close of business on November 15, 2019.

About Commerce Bancshares, Inc.

With $25.9 billion in assets as of September 30, 2019, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional 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., the Company 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. Commerce Bank 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.

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