CBSH

Commerce Bancshares, Inc. Announces Visa Inc.’s Acceptance of Class B-1 Common Stock and Investment Securities Repositioning

Retrieved on: 
Wednesday, May 8, 2024
Banking, Professional Services, Finance, Exchange offer, Commerce Bancshares, Sale, CBSH, Risk, Commerce, Visa Inc., Visa, Financial services

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that Visa Inc. has accepted the company’s tender of its 823,447 shares of Visa Class B-1 common stock in exchange for a combination of Visa Class B-2 common stock and Visa Class C common stock.

Key Points: 
  • Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that Visa Inc. has accepted the company’s tender of its 823,447 shares of Visa Class B-1 common stock in exchange for a combination of Visa Class B-2 common stock and Visa Class C common stock.
  • As a result of the exchange, Commerce marked its Visa Class C common stock to fair value and recorded a gain of $175.5 million based on the conversion privilege of the Visa Class C common stock and the closing price of Visa Class A common stock on May 3, 2024 of $268.49 per share.
  • The company’s Visa Class C shares are expected to continue to be marked to fair value on a recurring basis using the Visa Class A shares as evidence of orderly transactions between market participants for similar securities issued by Visa.
  • The company expects the repositioning to increase net interest income, reduce interest rate risk to lower rates, and improve the quality of the Company's pledgeable investment securities.

Commerce Bancshares, Inc. Stock Repurchase Program

Retrieved on: 
Thursday, April 18, 2024
Banking, Professional Services, Finance, Share repurchase, Commerce Bancshares, CBSH

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced that its Board of Directors approved the repurchase, in combination with the amount remaining from the prior authorization on April 20, 2022, of up to 5,000,000 total shares of the Company’s common stock through its share repurchase program.

Key Points: 
  • Commerce Bancshares, Inc. (NASDAQ: CBSH) announced that its Board of Directors approved the repurchase, in combination with the amount remaining from the prior authorization on April 20, 2022, of up to 5,000,000 total shares of the Company’s common stock through its share repurchase program.
  • Repurchases under this program may be made from time to time through open market purchases, privately negotiated transactions or such other manners as will comply with applicable laws and regulations.
  • The buyback program does not obligate the Company to purchase any particular number of shares and there is no guarantee as to the exact number of shares that will be repurchased by the Company.
  • The program may be suspended, modified or terminated by the Company at any time and for any reason, without prior notice.

Commerce Bancshares, Inc. Declares Cash Dividend on Common Stock

Retrieved on: 
Wednesday, April 17, 2024
Banking, Professional Services, Commerce Bank, Commerce Bancshares, ATM, CBSH, Commerce

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock.

Key Points: 
  • Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock.
  • The dividend is payable on June 18, 2024 to stockholders of record at the close of business on June 5, 2024.
  • One of its subsidiaries, Commerce Bank, leverages nearly 160 years of proven strength and experience to help individuals and businesses solve financial challenges.
  • Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial and wealth offices, ATMs, online, mobile and through a 24/7 customer service line.

Commerce Bancshares, Inc. Declares Cash Dividend on Common Stock

Retrieved on: 
Friday, February 2, 2024
Finance, Banking, Professional Services, Asset Management, Fintech, ATM, Commerce, CBSH, Commerce Bancshares, Commerce Bank

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock, which compares to the prior dividend of $0.257 as adjusted for the 5% stock dividend that was paid on December 19, 2023.

Key Points: 
  • Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock, which compares to the prior dividend of $0.257 as adjusted for the 5% stock dividend that was paid on December 19, 2023.
  • This represents an increase in the quarterly dividend per share of 5% and marks the 56th consecutive year that the Company has increased its regular cash dividend per share.
  • The dividend is payable on March 25, 2024 to stockholders of record at the close of business on March 7, 2024.
  • One of its subsidiaries, Commerce Bank, leverages nearly 160 years of proven strength and experience to help individuals and businesses solve financial challenges.

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

Retrieved on: 
Friday, October 27, 2023
Banking, Professional Services, Finance, Commerce Bancshares, CBSH, Holding company

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock payable December 18, 2023, to stockholders of record at the close of business on December 4, 2023.

Key Points: 
  • Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock payable December 18, 2023, to stockholders of record at the close of business on December 4, 2023.
  • The Board of Directors also approved a 5% common stock dividend payable on December 19, 2023 to shareholders of record at the close of business on December 4, 2023.
  • Statements reflecting the issuance of shares as a result of the stock dividend should be mailed on or about December 19, 2023.
  • The quarterly cash dividend will not be payable on any shares to be issued pursuant to the 5% stock dividend.

Commerce Financial Advisors Joins LPL Financial’s Institution Services Platform

Retrieved on: 
Wednesday, August 23, 2023
Commerce Bancshares, Partnership, LPL Financial, CBSH, Tertiary Institutions Service Centre, LPL, Commerce Bank, Commerce, Financial adviser

CHARLOTTE, N.C., Aug. 23, 2023 (GLOBE NEWSWIRE) -- LPL Financial LLC (“LPL Financial” or “LPL”), today announced that Commerce Financial Advisors, the retail brokerage and advisory division of Commerce Brokerage Services, Inc., a subsidiary of Commerce Bank, has joined LPL’s Institution Services platform.

Key Points: 
  • CHARLOTTE, N.C., Aug. 23, 2023 (GLOBE NEWSWIRE) -- LPL Financial LLC (“LPL Financial” or “LPL”), today announced that Commerce Financial Advisors, the retail brokerage and advisory division of Commerce Brokerage Services, Inc., a subsidiary of Commerce Bank, has joined LPL’s Institution Services platform.
  • Commerce Financial Advisors is made up of nearly 30 financial advisors who collectively serve approximately $4.7 billion of brokerage and advisory assets.
  • “For more than 35 years, Commerce Financial Advisors has helped clients and their families reach their financial goals by providing sound financial advice,” said Mark Potter, President of Commerce Financial Advisors.
  • We look forward to our continued partnership with the leadership team at Commerce and supporting them in growing their wealth management business.”
    Commerce Bank and LPL Financial signed an agreement in November 2022 to transition support of Commerce Financial Advisors to LPL’s Institution Services platform.

Commerce Bancshares, Inc. Declares Cash Dividend on Common Stock

Retrieved on: 
Friday, July 28, 2023
Banking, Asset Management, Professional Services, Finance, CBSH, Commerce Bancshares, Holding company

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock. The dividend is payable on September 25, 2023 to stockholders of record at the close of business on September 6, 2023.

Key Points: 

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock. The dividend is payable on September 25, 2023 to stockholders of record at the close of business on September 6, 2023.

Commerce Bancshares, Inc. Declares Cash Dividend on Common Stock

Retrieved on: 
Wednesday, April 19, 2023
Banking, Professional Services, Finance, CBSH, Commerce Bancshares, Holding company

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock. The dividend is payable on June 20, 2023 to stockholders of record at the close of business on June 5, 2023.

Key Points: 

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock. The dividend is payable on June 20, 2023 to stockholders of record at the close of business on June 5, 2023.

Commerce Bancshares, Inc. Declares Cash Dividend on Common Stock

Retrieved on: 
Friday, February 3, 2023
Banking, Professional Services, Finance, Commerce Bancshares, CBSH, Holding company

Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock, which compares to the prior dividend of $0.252 as adjusted for the 5% stock dividend that was paid on December 19, 2022.

Key Points: 
  • Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.27 per share on the Company's common stock, which compares to the prior dividend of $0.252 as adjusted for the 5% stock dividend that was paid on December 19, 2022.
  • This represents an increase in the quarterly dividend per share of 7% and marks the 55th consecutive year that the Company has increased its regular cash dividend per share.
  • The dividend is payable on March 27, 2023 to stockholders of record at the close of business on March 7, 2023.

LPL Financial Welcomes Commerce Financial Advisors to its Institution Services Platform

Retrieved on: 
Tuesday, November 22, 2022
Growth, Advisory, SAN, Commerce Bank, RIA, LPLA, AUM, Commerce Bancshares, CBSH, ATM, Financial institution, Annual report, File, LPL Financial, Financial plan, Defence and Security Media Advisory Committee, Commerce, Tertiary Institutions Service Centre, LPL, Investment, Commerce Trust Building, Financial services, Financial adviser, Central Illinois, University of Central Missouri, St. Louis

SAN DIEGO, Nov. 22, 2022 (GLOBE NEWSWIRE) -- LPL Financial LLC (LPL) today announced an agreement with Commerce Bank to transition support of Commerce Financial Advisors to LPLs Institution Services platform.

Key Points: 
  • SAN DIEGO, Nov. 22, 2022 (GLOBE NEWSWIRE) -- LPL Financial LLC (LPL) today announced an agreement with Commerce Bank to transition support of Commerce Financial Advisors to LPLs Institution Services platform.
  • Commerce Financial Advisors, the retail brokerage and advisory division of Commerce Brokerage Services, Inc., a subsidiary of Commerce Bank, comprises nearly 30 financial advisors who collectively serve approximately $4.4 billion of brokerage and advisory assets as of November 15, 2022.
  • We are looking forward to Commerce Financial Advisors joining the LPL Institution Services platform, said Ken Hullings, senior vice president, Enterprise Business Development, LPL Financial.
  • Commerce Financial Advisors is a division of Commerce Brokerage Services, Inc., which is a subsidiary of Commerce Bank.