COMMERCE BANCSHARES INC MO
Q4 2025 Form 13F-NT

Description and Activity

Commerce Bancshares, Inc. provides a variety of banking services through its ownership of Commerce Bank. These services include retail banking, mortgage banking, corporate banking, investment services, trust services, and asset management. Additionally, Commerce Bancshares has non-banking subsidiaries that engage in private equity, securities brokerage, underwriting, specialty lending, and leasing. The company operates primarily in Missouri, Kansas, and central Illinois, with branches also in Oklahoma and Colorado.

Commerce Bancshares operates in the financial services industry, focusing on three main segments: Commercial, Consumer, and Wealth. Revenue is generated through corporate lending, payment solutions, cash management, retail banking, consumer lending, mortgage banking, trust services, brokerage services, and investment management. The primary customers include individuals, corporations, and institutions seeking banking and financial services.

The operational structure of Commerce Bancshares is divided into three segments: Commercial, Consumer, and Wealth, which contribute to its pre-tax income. The company holds significant market shares in St. Louis and Kansas City, with 10% and 7% of the deposit market share, respectively. Key factors impacting the company's business performance include its ability to manage loans and deposits, market share in key regions, and the performance of its banking and non-banking subsidiaries.