Commerce Bancshares, Inc. Reports Third Quarter Earnings Per Share of $1.08

John Kemper, Chief Executive Officer of Commerce Bancshares, Inc.

“Commerce delivered another solid quarter, with strong profitability, broad-based loan growth, continued momentum across our fee businesses and excellent credit quality. Ending loan balances grew at an annualized rate of more than 7% during the quarter, led by continued strength in our commercial and wealth segments. These results reflect the durability of our diversified business model and our team’s continued focus on serving our customers.”

John Kemper, Chief Executive Officer of Commerce Bancshares, Inc.

“Our underlying net interest margin expanded after excluding the TIPS inflation income recognized in the prior quarter. Fee income also increased, led by continued strength in our trust, bank card, and deposit fees. This balanced revenue mix remains an important source of strength for Commerce and supports consistent performance over time.”

John Kemper, Chief Executive Officer of Commerce Bancshares, Inc.

“Deposit balances performed in line with our expectations during the quarter. Our longstanding customer relationships, diverse deposit base and strong liquidity position continue to provide a solid foundation for growth. We also remained focused on disciplined capital management, repurchasing approximately 1.9 million shares while maintaining strong capital levels and supporting balance sheet growth. This balanced approach allows us to support customer growth, return capital to shareholders and maintain the strong balance sheet that has been a source of strength through economic cycles.”