Commerce Bancshares (CBSH) Investor presentation summary

Company overview and strategic positioning

• Operates as the 36th largest U.S. bank by assets ($35.3B) and 29th by market cap ($8.3B), with a diversified footprint across commercial, consumer, and wealth management segments.

• Maintains a super-community bank platform, blending high-touch customer service with sophisticated product offerings and disciplined risk management.

• Focuses on long-term outperformance, with 58 consecutive years of dividend increases and a 20-year annualized shareholder return over 8%.

• Core values emphasize integrity, collaboration, customer focus, and innovation, supporting a strong, engaged workforce.

• Recognized for excellence, including top rankings among U.S. banks and leadership in disability inclusion.

Financial performance and shareholder returns

• Net income for YTD 2026 was $301M ($2.06/share), with Q2 2026 earnings of $1.10/share and ROAA of 1.84%.

• Return on average common equity for YTD 2026 was 14.0%, with a 15-year average of 13.91%, outperforming peers.

• 10-year EPS CAGR of 10% and 58 years of regular dividend growth highlight durable earnings and shareholder commitment.

• Total shareholder returns have consistently outperformed the KBW Bank and S&P 500 indices over 20 years.

Revenue, loan, and deposit trends

• Fee income represents 37% of total revenue, significantly higher than peer average of 22%.

• Period-end loans reached $20.8B and deposits $27.9B as of June 30, 2026, with 2% loan growth over Q1.

• Commercial loans and deposits remain strong, with commercial revenue at $814M in 2025.

• Expansion markets have driven 46% loan growth and 78% fee income growth since 2020.