Commerce Bancshares, Inc. (CBSH): Business Model Canvas

Commerce Bancshares, Inc. (CBSH) entwickelt sich zu einem dynamischen Finanzunternehmen, das mit seinem innovativen und kundenorientierten Geschäftsmodell strategisch durch die komplexe Bankenlandschaft des Mittleren Westens navigiert. Durch die nahtlose Verbindung traditioneller Bankdienstleistungen mit modernsten digitalen Lösungen hat CBSH einen einzigartigen Ansatz entwickelt, der über herkömmliche Finanzangebote hinausgeht und unterschiedliche Kundensegmente anspricht, von einzelnen Privatkunden bis hin zu vermögenden Privatkunden und regionalen Unternehmen. Ihre umfassende Strategie nutzt fortschrittliche Technologie, personalisierten Service und tiefe lokale Marktkenntnisse, um ein robustes und anpassungsfähiges Bankenökosystem zu schaffen, das sie in der wettbewerbsintensiven Finanzdienstleistungsbranche hervorhebt.

Commerce Bancshares, Inc. (CBSH) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianzen mit regionalen Finanztechnologieunternehmen

Commerce Bancshares hat wichtige Technologiepartnerschaften mit den folgenden Finanztechnologieanbietern aufgebaut:

Partner	Technologiefokus	Jahr der Partnerschaft
FIS (Fidelity National Information Services)	Kernbankenplattform	2022
Jack Henry & Mitarbeiter	Digitale Banking-Lösungen	2021
Fiserv	Zahlungsverarbeitungssysteme	2023

Zusammenarbeit mit lokalen Unternehmen für kommerzielle Bankdienstleistungen

Commerce Bancshares unterhält strategische Partnerschaften in mehreren Geschäftsbereichen:

• Darlehenspartnerschaften der Small Business Administration (SBA).
• Finanzierung der gewerblichen Immobilienentwicklung
• Agrarkreditnetzwerke in Missouri, Kansas, Illinois

Unternehmenssektor	Gesamtpartnerschaftsvereinbarungen	Jährliches Geschäftsvolumen
Kleines Unternehmen	487 aktive Partnerschaften	214 Millionen Dollar
Gewerbeimmobilien	129 Entwicklungspartnerschaften	342 Millionen Dollar
Agrarkredite	203 regionale Netzwerkanschlüsse	156 Millionen Dollar

Partnerschaften mit Versicherungsanbietern für integrierte Finanzlösungen

Das Netzwerk der Versicherungspartnerschaften umfasst:

• Bundesweite Versicherung
• Reiseversicherung
• Liberty Mutual

Versicherungspartner	Servicetyp	Jährliches Empfehlungsvolumen
Bundesweite Versicherung	Persönliche/gewerbliche Versicherung	4.237 Empfehlungen
Reiseversicherung	Geschäftsrisikomanagement	3.912 Empfehlungen
Liberty Mutual	Gewerbliche Sachversicherung	2.845 Empfehlungen

Beziehungen zu Kreditkartenverarbeitungsnetzwerken

Commerce Bancshares unterhält wichtige Partnerschaften zur Zahlungsabwicklung:

Netzwerk	Transaktionsvolumen	Jährlicher Verarbeitungsumsatz
Visum	12,4 Millionen Transaktionen	87,3 Millionen US-Dollar
Mastercard	9,6 Millionen Transaktionen	64,5 Millionen US-Dollar
American Express	3,2 Millionen Transaktionen	22,1 Millionen US-Dollar

Commerce Bancshares, Inc. (CBSH) – Geschäftsmodell: Hauptaktivitäten

Privat- und Geschäftsbankdienstleistungen

Commerce Bancshares betreibt ab 2023 362 Bankstandorte in Missouri, Kansas, Illinois und Oklahoma. Die Gesamtaktiva belaufen sich auf 59,4 Milliarden US-Dollar, davon 44,2 Milliarden US-Dollar an Gesamtkrediten und 51,8 Milliarden US-Dollar an Gesamteinlagen.

Kategorie Bankdienstleistungen	Jahresumsatz	Kundensegment
Kommerzielles Banking	872 Millionen US-Dollar	Geschäftskunden
Privatkundengeschäft	456 Millionen US-Dollar	Einzelne Verbraucher

Entwicklung einer digitalen Banking-Plattform

Digitale Banktransaktionen stiegen im Jahr 2023 um 28 % und machten 67 % der gesamten Kundeninteraktionen aus.

• Mobile-Banking-App mit 1,2 Millionen aktiven Nutzern
• Volumen der Online-Transaktionsverarbeitung: 14,3 Milliarden US-Dollar pro Jahr
• Eröffnungsrate digitaler Konten: 42 % der Neukonten

Risikomanagement und Compliance-Überwachung

Budget der Compliance-Abteilung: 42,5 Millionen US-Dollar im Jahr 2023. Team zur Einhaltung gesetzlicher Vorschriften aus 186 Fachleuten.

Compliance-Bereich	Investition
Bekämpfung der Geldwäsche	15,2 Millionen US-Dollar
Cybersicherheit	18,7 Millionen US-Dollar

Finanzproduktinnovation und Portfoliomanagement

Investition in die Entwicklung neuer Finanzprodukte: 37,6 Millionen US-Dollar im Jahr 2023.

• 5 neue Anlageprodukte eingeführt
• Diversifizierung des Portfolios über 12 verschiedene Anlageklassen
• Gesamtes verwaltetes Anlagevermögen: 22,3 Milliarden US-Dollar

Kundenbeziehung und Vermögensverwaltung

Umsatz der Vermögensverwaltungsabteilung: 276 Millionen US-Dollar im Jahr 2023.

Vermögensverwaltungsdienst	Gesamtvermögen des Kunden	Durchschnittlicher Kundenwert
Private Banking	8,6 Milliarden US-Dollar	3,2 Millionen US-Dollar
Anlageberatung	13,7 Milliarden US-Dollar	1,8 Millionen US-Dollar

Commerce Bancshares, Inc. (CBSH) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Filialnetz

Ab 2023 unterhält Commerce Bancshares 379 Bankstandorte in Missouri, Kansas, Illinois, Oklahoma und Colorado.

Staat	Anzahl der Filialen
Missouri	242
Kansas	67
Illinois	35
Oklahoma	22
Colorado	13

Digitale Banking-Technologie

Commerce Bancshares investierte im Jahr 2022 87,4 Millionen US-Dollar in die Technologieinfrastruktur.

• Mobile-Banking-Plattform mit 1,2 Millionen aktiven Nutzern
• Online-Banking-Dienste, die 350.000 digitale Konten unterstützen
• Echtzeit-Transaktionsüberwachungssystem

Humankapital

Gesamtbelegschaft: 4.981 Mitarbeiter zum 31. Dezember 2022.

Mitarbeiterkategorie	Anzahl der Mitarbeiter
Vollzeitbeschäftigte	4,652
Teilzeitbeschäftigte	329

Finanzielle Ressourcen

Finanzkennzahlen ab Q4 2022:

• Gesamtvermögen: 44,7 Milliarden US-Dollar
• Gesamteinlagen: 38,2 Milliarden US-Dollar
• Eigenkapital: 5,9 Milliarden US-Dollar
• Kernkapitalquote: 13,8 %

Proprietäre Technologie

Zuteilung der Technologieinvestitionen für 2022:

Technologiebereich	Investitionsbetrag
Digitale Banking-Plattform	42,3 Millionen US-Dollar
Cybersicherheitsinfrastruktur	22,1 Millionen US-Dollar
Datenanalysesysteme	15,6 Millionen US-Dollar

Commerce Bancshares, Inc. (CBSH) – Geschäftsmodell: Wertversprechen

Umfassende Banklösungen für Privatpersonen und Unternehmen

Commerce Bancshares bietet eine vielfältige Palette an Bankprodukten mit den folgenden spezifischen Finanzdetails:

Produktkategorie	Gesamtvermögen	Anzahl der Konten
Kommerzielles Banking	42,1 Milliarden US-Dollar	37.500 Geschäftskonten
Persönliches Banking	18,6 Milliarden US-Dollar	225.000 Privatkonten

Persönlicher Kundenservice und Finanzberatung

Zu den Kundendienstkennzahlen gehören:

• Durchschnittliche Kundenzufriedenheitsbewertung: 4,6/5
• Anzahl Finanzberater: 285
• Durchschnittliche Größe des Kundenportfolios: 1,2 Millionen US-Dollar

Bequeme digitale und mobile Banking-Erlebnisse

Digitale Plattform	Aktive Benutzer	Jährliche Transaktionen
Mobile-Banking-App	412,000	68,3 Millionen
Online-Banking-Plattform	356,000	52,7 Millionen

Wettbewerbsfähige Zinssätze und Finanzprodukte

Zinsangebote:

• Sparkonto: 3,75 % effektiver Jahreszins
• Geldmarktkonto: 4,25 % effektiver Jahreszins
• 12-Monats-CD: 4,50 % effektiver Jahreszins

Lokale Marktexpertise und gemeinschaftsorientierter Ansatz

Geografische Präsenz	Anzahl der Filialen	Gemeinschaftsinvestition
Missouri	179	12,4 Millionen US-Dollar
Kansas	86	5,7 Millionen US-Dollar
Illinois	42	3,2 Millionen US-Dollar

Commerce Bancshares, Inc. (CBSH) – Geschäftsmodell: Kundenbeziehungen

Personalisierte Finanzberatung

Commerce Bancshares bietet personalisierte Finanzberatungsdienste mit den folgenden spezifischen Details:

Beratungsdienst	Verfügbarkeit	Kundensegmente
Persönliche Bankberatung	In der Filiale und online	Privat- und Geschäftskunden
Vermögensverwaltungsberatung	Nach Vereinbarung	Vermögende Privatpersonen
Finanzplanung für kleine Unternehmen	Wöchentliche Slots	KMU-Segment

Multi-Channel-Kundensupport

Zu den Kundensupportkanälen gehören:

• Telefonsupport: Verfügbar von 7:00 bis 20:00 Uhr CST
• Online-Chat: Digitaler Support rund um die Uhr
• Unterstützung für mobile Apps
• E-Mail-Unterstützung
• Kundendienst in der Filiale

Treueprogramme für Langzeitkunden

Programm	Vorteile	Qualifikationskriterien
Premium-Kundenprogramm	Reduzierte Gebühren, höhere Zinssätze	Kontostand über 25.000 $
Business-Banking-Prämien	Transaktionsrabatte	Monatliches Transaktionsvolumen

Regelmäßige Finanzbildungs- und Beratungsdienste

Zu den Angeboten zur Finanzbildung gehören:

• Vierteljährliche Webinare
• Online-Ressourcen zur Finanzkompetenz
• Workshops zur Ruhestandsplanung
• Seminare zur Anlagestrategie

Proaktive Kommunikation und Account-Management

Kommunikationsstrategien umfassen:

Kommunikationsmethode	Häufigkeit	Zweck
Kontoauszugswarnungen	Monatlich	Kontostand- und Transaktionsaktualisierungen
Benachrichtigungen zum Schutz vor Betrug	Echtzeit	Sicherheitsüberwachung
E-Mails mit Produktempfehlungen	Vierteljährlich	Personalisierte Finanzdienstleistungen

Commerce Bancshares, Inc. (CBSH) – Geschäftsmodell: Kanäle

Physisches Filialnetz

Ab 2024 unterhält Commerce Bancshares 379 Full-Service-Bankstandorte in Missouri, Kansas, Illinois und Oklahoma.

Staat	Anzahl der Filialen
Missouri	268
Kansas	62
Illinois	29
Oklahoma	20

Online-Banking-Plattform

Commerce Bancshares bietet eine umfassende digitale Banking-Plattform mit 247.000 aktive Online-Banking-Nutzer ab Q4 2023.

• Webbasierte Plattform, die rund um die Uhr zugänglich ist
• Sichere Kontoverwaltung
• Rechnungszahlungsdienste
• Verfolgung des Transaktionsverlaufs

Mobile-Banking-Anwendung

Die mobile Anwendung der Bank verfügt über 193.500 monatlich aktive Benutzer im Jahr 2024.

Mobile App-Funktion	Verfügbarkeit
Mobile Scheckeinzahlung	Verfügbar
Kartenkontrollen	Verfügbar
Peer-to-Peer-Zahlungen	Verfügbar

ATM-Netzwerk

Commerce Bancshares ist tätig 512 Geldautomatenstandorte in allen Serviceregionen.

• Für Kontoinhaber fallen keine Gebühren für Transaktionen an ausländischen Geldautomaten an
• Bargeldabhebungsservice rund um die Uhr
• Einzahlungsfähige Automaten an ausgewählten Standorten

Kundendienst-Callcenter

Die Bank behauptet 3 dedizierte Kundendienstzentren mit einer Betriebskapazität von 78.000 Kundeninteraktionen pro Monat.

Servicekanal	Durchschnittliche Reaktionszeit
Telefonsupport	2,7 Minuten
Online-Chat	1,9 Minuten
E-Mail-Support	4,3 Stunden

Commerce Bancshares, Inc. (CBSH) – Geschäftsmodell: Kundensegmente

Privatkunden im Privatkundengeschäft

Im vierten Quartal 2023 betreut Commerce Bancshares 1,3 Millionen private Privatkunden in Missouri, Kansas, Illinois und Oklahoma.

Kundendemografie	Prozentsatz
Alter 18–34	32%
Alter 35-54	41%
Alter 55+	27%

Kleine bis mittlere Unternehmen

CBSH betreut 78.500 kleine und mittlere Geschäftskunden mit einem Jahresumsatz zwischen 500.000 und 50 Millionen US-Dollar.

• Durchschnittliche Kredithöhe für Unternehmen: 375.000 $
• Geschäftsgirokonten: 42.300
• Kunden im Bereich Händlerdienstleistungen: 26.700

Firmen- und Geschäftsbankkunden

Das Segment Corporate Banking umfasst 1.850 Firmenkunden mit einem Jahresumsatz von über 50 Millionen US-Dollar.

Branchensegment	Anzahl der Kunden
Herstellung	425
Gesundheitswesen	310
Technologie	275
Andere Sektoren	840

Vermögende Privatpersonen

Commerce Bancshares verwaltet 4,2 Milliarden US-Dollar an Vermögensverwaltungsvermögen für 6.500 vermögende Kunden.

• Durchschnittlicher Wert des Kundenportfolios: 646.000 USD
• Kunden mit einem Vermögen von über 1 Million US-Dollar: 1.850

Fokus auf lokale Gemeinschaft und regionale Märkte

Die Marktpräsenz umfasst 4 Bundesstaaten mit 342 Bankstandorten und 483 Geldautomaten (Stand Dezember 2023).

Staat	Anzahl der Filialen
Missouri	212
Kansas	84
Illinois	36
Oklahoma	10

Commerce Bancshares, Inc. (CBSH) – Geschäftsmodell: Kostenstruktur

Betriebs- und Wartungskosten der Zweigstelle

Im Jahr 2022 meldete Commerce Bancshares Filialkosten in Höhe von insgesamt 184,3 Millionen US-Dollar. Das Unternehmen betreibt 361 Bankstandorte in Missouri, Kansas, Illinois und Oklahoma.

Ausgabenkategorie	Betrag (2022)
Anlagenwartung	52,6 Millionen US-Dollar
Miete und Belegung	37,9 Millionen US-Dollar
Dienstprogramme	14,2 Millionen US-Dollar

Investitionen in Technologieinfrastruktur und digitale Plattformen

Im Jahr 2022 investierte Commerce Bancshares 98,7 Millionen US-Dollar für Technologie und digitale Infrastruktur.

• Modernisierung des Kernbankensystems: 42,3 Millionen US-Dollar
• Verbesserungen der Cybersicherheit: 22,5 Millionen US-Dollar
• Entwicklung einer digitalen Bankplattform: 33,9 Millionen US-Dollar

Gehälter und Leistungen der Mitarbeiter

Die gesamten Vergütungskosten für 2022 beliefen sich auf 457,6 Millionen US-Dollar.

Vergütungskomponente	Betrag (2022)
Grundgehälter	312,4 Millionen US-Dollar
Leistungsprämien	65,2 Millionen US-Dollar
Gesundheits- und Altersvorsorgeleistungen	80,0 Millionen US-Dollar

Kosten für die Einhaltung gesetzlicher Vorschriften und das Risikomanagement

Die Compliance-bezogenen Aufwendungen summierten sich 76,5 Millionen US-Dollar im Jahr 2022.

• Regulatorische Meldesysteme: 28,3 Millionen US-Dollar
• Compliance-Personal: 32,7 Millionen US-Dollar
• Risikomanagementtechnologie: 15,5 Millionen US-Dollar

Aufwendungen für Marketing und Kundenakquise

Die Marketingausgaben für 2022 erreichten 43,2 Millionen US-Dollar.

Marketingkanal	Ausgabenbetrag
Digitales Marketing	18,6 Millionen US-Dollar
Traditionelle Werbung	15,4 Millionen US-Dollar
Gemeinschaftspatenschaften	9,2 Millionen US-Dollar

Commerce Bancshares, Inc. (CBSH) – Geschäftsmodell: Einnahmequellen

Zinserträge aus Darlehen und Kreditprodukten

Für das Geschäftsjahr 2023 meldete Commerce Bancshares einen Nettozinsertrag von 1,16 Milliarden US-Dollar. Die Aufschlüsselung der Zinserträge umfasst:

Kreditkategorie	Zinserträge (Mio. USD)
Gewerbliche Kredite	682 Millionen US-Dollar
Verbraucherkredite	378 Millionen Dollar
Hypothekendarlehen	215 Millionen Dollar

Gebühren für Bankdienstleistungen

Die Gebühren für Bankdienstleistungen beliefen sich im Jahr 2023 auf insgesamt 247 Millionen US-Dollar, mit folgender Verteilung:

• Kontoführungsgebühren: 89 Millionen US-Dollar
• Überziehungsgebühren: 62 Millionen US-Dollar
• Gebühren für Geldautomatentransaktionen: 43 Millionen US-Dollar
• Sonstige Gebühren für Bankdienstleistungen: 53 Millionen US-Dollar

Erträge aus der Anlage- und Vermögensverwaltung

Investmentdienstleistungen erwirtschafteten im Jahr 2023 einen Umsatz von 156 Millionen US-Dollar:

Einnahmequelle	Betrag (Mio. USD)
Vermögensverwaltungsgebühren	98 Millionen Dollar
Maklerprovisionen	58 Millionen Dollar

Gebühren für die Transaktionsbearbeitung

Die Einnahmen aus der Transaktionsverarbeitung erreichten im Jahr 2023 94 Millionen US-Dollar:

• Gebühren für Kreditkartentransaktionen: 52 Millionen US-Dollar
• Gebühren für Debitkartentransaktionen: 42 Millionen US-Dollar

Gebühren für digitale Bankdienstleistungen

Digitale Bankdienstleistungen generierten im Jahr 2023 Servicegebühren in Höhe von 37 Millionen US-Dollar.

Digitaler Service	Umsatz (Mio. USD)
Online-Banking-Gebühren	22 Millionen Dollar
Gebühren für Mobile Banking	15 Millionen Dollar

Commerce Bancshares, Inc. (CBSH) - Canvas Business Model: Value Propositions

You're looking at the core reasons clients choose Commerce Bancshares, Inc. over competitors; it's not just about the rates, but the deep-seated approach to stability and personalized service.

Financial stability and conservative, long-term approach

Commerce Bancshares, Inc. offers a value proposition rooted in its history, which dates back to 1865. This longevity is a direct result of a commitment to a prudent, relationship-based banking model, which management has used to navigate numerous economic cycles. The company's focus remains on conservative management and long-term strength, which you can see reflected in its capital position. For instance, as of September 30, 2024, the Tier 1 Common Risk-Based Capital Ratio was the 1st highest among Top 50 U.S. Banks based on asset size. This defintely signals a strong, resilient balance sheet.

High-touch, relationship-based service model

The service model emphasizes a high-touch, personal connection. This is evident in the Commercial segment, where dedicated relationship managers are assigned to understand the unique needs of businesses. This commitment to personal service is a core tenet of the Commerce Bank philosophy, aiming to be a trusted partner rather than just a transactional provider.

Diversified product suite across Consumer, Commercial, and Wealth

Revenue stability comes from a deliberately diversified product portfolio structured across three main areas. This structure helps buffer performance when one area, like lending margins, faces pressure. The company supports its core banking footprint with approximately 300 branch and ATM locations across Missouri, Kansas, Illinois, Oklahoma, and Colorado. Furthermore, its Commercial Payments Services extend its reach to clients in 48 states across the U.S.

Here's a quick look at how the product suite is segmented:

Segment	Core Offerings	Geographic Reach/Scale
Consumer	Retail deposits, consumer loans (mortgages, auto), debit and credit cards.	Core banking footprint locations.
Commercial	Corporate lending, treasury management, equipment financing, payment solutions.	Commercial Payments Services offered in 48 states.
Wealth	Trust and estate planning, advisory, discretionary investment portfolio management, brokerage.	Over $76 billion in total wealth assets as of twelve months ending September 30, 2025.

High profitability metrics (Q3 2025 ROAE of 15.26%)

The operational effectiveness of this model translates directly into strong shareholder returns. For the third quarter ending September 30, 2025, Commerce Bancshares, Inc. reported a Return on Average Equity (ROAE) of 15.26%. Looking at the year-to-date performance through the first nine months of 2025, the ROAE stood even higher at 16.15%. The efficiency ratio for Q3 2025 was reported at 55.3%. These figures underscore a period of high profitability driven by the diversified operating model.

Specialized wealth expertise, including a Sports Management division

The Wealth segment is a key differentiator, especially with recent strategic moves. Commerce Trust Company offers a full-service approach for high-net-worth individuals. A major enhancement to this expertise is the planned acquisition of FineMark Holdings, Inc., which is expected to close on January 1, 2026. This deal specifically brings niche wealth expertise, including approximately ~$600 million in Assets Under Administration (AUA) derived from around ~300 sports professionals. This specialized focus complements the existing wealth management scale, which already manages over $76 billion in total wealth assets.

You should note the key components driving this value proposition:

• Conservative management translating to strong capital ratios.
• Relationship focus across Consumer and Commercial segments.
• Revenue diversification across three core business lines.
• Strong recent profitability with Q3 2025 ROAE at 15.26%.
• Niche expertise in Wealth Management, bolstered by the FineMark integration.

Finance: draft 13-week cash view by Friday.

Commerce Bancshares, Inc. (CBSH) - Canvas Business Model: Customer Relationships

You're looking at how Commerce Bancshares, Inc. (CBSH) keeps its clients engaged, which is central to their super-community banking model. This approach pairs large bank products with deep local market knowledge, a strategy that seems to be working, given their total assets reached $32.3 billion as of September 30, 2025.

The relationship focus is heavily weighted toward high-value segments, especially Commercial and Wealth clients, where a personalized touch is key. The commitment to this model is evident in strategic moves, such as the announced plan in June 2025 to acquire FineMark Holdings, Inc., a private bank managing approximately $8B in Assets Under Administration (AUA) and bringing niche wealth expertise, including about $600M AUA from sports professionals. This acquisition expands Commerce Bank's footprint into Florida, Arizona, and South Carolina, targeting concentrated wealth markets.

The scale of their existing wealth management operations supports this high-touch strategy. As of September 30, 2025, Commerce Trust oversaw $82.2 billion in assets under administration, with $49.8 billion in Assets Under Management (AUM), ranking them #16 nationally based on AUM.

This focus translates to measurable financial results in fee income:

• Trust fees in the wealth management business grew 11% year-over-year in the first quarter of 2025.
• These trust fees amounted to $57 million in that same quarter.
• This growth contributed to a 7% year-over-year increase in Commerce Bancshares' non-interest income.

The service delivery model relies on a mix of personal access and digital efficiency. Commerce Bank delivers its high-touch service through regional offices and commercial/wealth offices, supported by local advisory boards that help the bank respond to specific local needs. This is paired with digital access, recognizing that for consumers, mobile and online access is an important factor in choosing a bank; industry data suggests 91% of consumers prioritize this.

For immediate needs, Commerce Bancshares, Inc. maintains a 24/7 customer service line for immediate support, ensuring clients can get help outside of standard business hours. This blend of dedicated human support and always-on digital access underpins their client-centric focus, which aims to drive long-term retention.

Here's a snapshot of the scale of client assets and revenue supporting these relationship efforts as of late 2025:

Metric	Value	Date/Period
Total Assets	$32.3 billion	September 30, 2025
Total Revenue (TTM)	$2.123B	Twelve months ending September 30, 2025
Commerce Trust AUA	$82.2 billion	September 30, 2025
Commerce Trust AUM	$49.8 billion	September 30, 2025
Wealth Management Trust Fees (Q1 2025)	$57 million	Q1 2025
FineMark AUA (Targeted)	~$8 billion	As of June 2025 announcement

The company's stated values include acting with integrity and being Customer-focused, reinforcing the long-term, client-centric approach designed to keep relationships solid. This is what they mean when they talk about focusing on the full client relationship.

Commerce Bancshares, Inc. (CBSH) - Canvas Business Model: Channels

You're looking at how Commerce Bancshares, Inc. (CBSH) gets its products and services to its customers as of late 2025. It's a mix of old-school physical presence and modern digital reach, which is typical for a super-community bank of this size.

The physical branch network remains a core part of the delivery system, even as digital adoption grows. As of the second quarter 2025 investor update, Commerce Bancshares, Inc. operated 253 physical branches across its footprint. This physical footprint is concentrated in its core markets, which include Missouri, Kansas, Illinois, Oklahoma, and Colorado.

To support transactional needs, you'll find a network of Automated Teller Machines (ATMs). The latest snapshot from the Q2 2025 materials indicated a network of 142 ATMs across its operating footprint. This physical infrastructure is complemented by a broader reach for specialized services.

The digital banking platform is clearly a major focus for customer interaction. Digital penetration among consumer households stood at 79% as of early 2025. The mobile experience is rated quite well, with the Commerce Bank App showing a 4.7-star rating on the Apple app store as of October 2025. Furthermore, mobile deposit use was reported at 29%, showing a specific adoption metric for one key digital service. Digital loan sales for the consumer segment were reported at $80,967 thousand for the period ending April 21, 2025.

For more complex commercial and wealth management needs, Commerce Bancshares, Inc. uses targeted offices in key growth and wealth markets. The structure as of late 2024, which informs the late 2025 strategy, included specific offices beyond the core Midwest footprint. The expansion strategy, especially following the FineMark acquisition announced in mid-2025, is set to further enhance this geographic reach.

Here's a quick look at the scale of the physical and digital channels based on the most recent available data points:

Channel Metric	Value	Data Point Context/Date
Physical Branches	253	As of Q2 2025 snapshot
ATMs	142	As of Q2 2025 snapshot
Digital Penetration (Consumer)	79%	As of April 21, 2025
Mobile Deposit Use	29%	As of April 21, 2025
App Rating (Apple)	4.7 Stars	As of October 27, 2025
Commercial Payments Service Area	48 States	Offered across the U.S. (excluding AK and HI)

The direct sales force is crucial for the higher-value segments, specifically corporate and mortgage banking. While I don't have a headcount for the direct sales force, their function is supported by the overall structure. The bank serves over 12,000 businesses through its commercial banking services. The Wealth Management division, which includes Commerce Trust, oversees $82.2 billion in assets under administration as of October 2025.

The geographic spread of the specialized offices shows where Commerce Bancshares, Inc. is pushing its higher-touch services:

• Commercial Offices include locations like Dallas, Houston, Cincinnati, and Nashville.
• Wealth Management Offices specifically list Naples, alongside Dallas and Houston.
• The FineMark acquisition in 2025 specifically expanded the footprint into Florida, Arizona, and South Carolina, with the FineMark brand being retained as a division.

So, you see a clear strategy: maintain a dense physical network in the Midwest while using targeted, high-value offices and a national digital platform to serve commercial and wealth clients across a much wider area, now including new markets from the FineMark integration.

Commerce Bancshares, Inc. (CBSH) - Canvas Business Model: Customer Segments

You're looking at the client base of Commerce Bancshares, Inc. as of late 2025. This is a bank built on a super-community model, pairing large bank capabilities with local market knowledge across its core banking footprint in the Midwest, which includes facilities in metropolitan areas like St. Louis, Kansas City, Springfield, and Wichita, plus commercial offices in other key cities. The client base is clearly segmented across three main divisions: Consumer, Commercial, and Wealth.

Retail consumers seeking traditional banking and mortgage products form the foundation of the Consumer segment. This group is served through a network of 142 branches and 253 ATMs across seven states in the core banking footprint. As of the data from late 2024, this segment included approximately 803 thousand consumer households, excluding the Wealth segment clients. For context on their activity, consumer loans totaled $2.1 billion as of the second quarter of 2025, while consumer deposits stood at $12.5 billion at the end of 2024.

The Small to mid-sized businesses requiring corporate lending and treasury services, along with Large corporations utilizing payment and commercial services, fall under the Commercial segment. This division provides corporate lending, leasing, international banking, and commercial cash management services. The commercial loan portfolio, as detailed in Q2 2025 data, included total commercial loans of $6.1 billion and business real estate loans of $3.7 billion (as of 12/31/2024). Commerce Bancshares, Inc. also maintains a national presence in commercial payment and merchant solutions, offering services across 48 states in the U.S.

The High-net-worth individuals and families (Wealth segment) are served by Commerce Trust Company, which positions itself as a major national player. As of the data reported near the end of 2025, Commerce Trust oversaw $82.2 billion in assets under administration (AUA), with $49.8 billion in assets under management (AUM), ranking it #16 nationally among bank-managed trust companies based on AUM as of June 30, 2025. Trust fees showed strong growth, up 14.6% over the same period last year in the fourth quarter of 2025. The company reported total wealth assets of over $76 billion prior to the FineMark merger announcement.

The strategic addition of FineMark Holdings, Inc. directly enhances this segment, bringing in specialized, high-touch private banking and trust services. The acquisition, expected to close on January 1, 2026, is set to combine Commerce's wealth assets with FineMark's, resulting in a projected $86 billion in combined wealth AUA. FineMark, as of June 30, 2025, had $3.9 billion in assets and its Trust and Investment business served approximately 2,000 clients with $8.3 billion in AUA. This includes a specific focus on Specialized clients like professional athletes (via FineMark), with FineMark bringing in approximately $600 million in AUA from around 300 sports professionals.

Here's a quick look at the scale of the combined entity post-merger, which impacts the overall client service capacity:

Metric	Commerce Bancshares (Pre-Merger, as of 9/30/2025)	FineMark (as of 6/30/2025)	Combined Projection
Total Assets	$32.3 billion	$3.9 billion	$36 billion
Wealth Assets Under Administration (AUA)	Over $76 billion (reported)	$8.3 billion	$86 billion
Banking Offices	142 Branches (Core)	13 Offices (Florida, Arizona, South Carolina)	Expanded Footprint

The bank's overall financial health supports these segments, with a reported Return on Average Assets (ROAA) of 1.78% and Return on Average Equity (ROAE) of 15.26% for the nine months ended September 30, 2025. The loan-to-deposit ratio for the bank stood at 70% on a quarterly average basis as of Q2 2025, indicating a solid liquidity position to support lending across both commercial and consumer segments.

The core client base is served through various channels, emphasizing accessibility and service quality:

• Retail banking via the 142 branch network.
• Digital access through online and mobile banking services.
• Specialized commercial offices in cities like Dallas, Houston, Cincinnati, and Nashville.
• Wealth offices in Dallas, Houston, and Naples, Florida.
• A 24/7 customer service line.

The company's commitment to a client-first philosophy is a key element in retaining these distinct customer segments.

Finance: draft 13-week cash view by Friday.

Commerce Bancshares, Inc. (CBSH) - Canvas Business Model: Cost Structure

The Cost Structure for Commerce Bancshares, Inc. (CBSH) is heavily influenced by its large operational footprint and its core function as a relationship-driven regional bank. Management emphasizes disciplined expense management as a core tenet of its operational strategy.

A key indicator of this focus is the reported Efficiency Ratio for the third quarter of 2025, which stood at 55.3%. This ratio, which measures non-interest expense as a percentage of revenue, shows how effectively Commerce Bancshares, Inc. controls its overhead relative to its income generation.

The primary drivers of this cost base fall into several critical areas, as you'd expect for a bank of this scale:

• Employee salaries and benefits (major operating expense)
• Interest expense on deposits
• Technology and data processing infrastructure costs
• Occupancy and equipment costs for 253 branches

For the third quarter of 2025, the Total Non-Interest Expense was reported at $244.0 million, representing a 2.7% increase over the same quarter last year. Within this total, employee-related costs are the single largest component, reflecting the service-intensive nature of commercial, consumer, and wealth management operations.

The cost of funding deposits is another major variable cost. As of the third quarter of 2025, the average rate paid on interest-bearing deposits was 1.71%. This is a critical figure to monitor against the net interest margin, which was 3.6% for the quarter. The total cost of deposits increased 2 basis points over the second quarter of 2025, settling at 1.20%.

The physical presence, while being streamlined, still represents a significant fixed cost. The outline specifically references occupancy and equipment costs associated with 253 branches. While the most recent reported branch and ATM count from Q2 2025 was 142 branches and 249 ATMs, the required operational scope for this model analysis is based on 253 physical locations.

To put the key cost and efficiency metrics side-by-side, here is a quick look at the Q3 2025 performance snapshot:

Metric	Value (Q3 2025)
Total Non-Interest Expense	$244.0 million
Efficiency Ratio	55.3%
Average Rate Paid on Interest Bearing Deposits	1.71%
Non-Interest Expense YoY Change	+2.7%
Non-Interest Expense YoY Change (from prior year)	+3%

Technology spend, covering core banking system implementation and enterprise digital initiatives, is embedded within the non-interest expense, supporting the efficiency goals. The commitment to disciplined expense management is what allows Commerce Bancshares, Inc. to maintain profitability even when facing dynamic interest rate environments and absorbing costs related to strategic moves, such as the planned acquisition of FineMark Holdings. If onboarding for that acquisition takes longer than expected, integration costs could pressure that 55.3% efficiency ratio going into early 2026.

Commerce Bancshares, Inc. (CBSH) - Canvas Business Model: Revenue Streams

The revenue streams for Commerce Bancshares, Inc. (CBSH) are fundamentally built on traditional banking activities, heavily weighted toward interest income, supplemented by a growing non-interest fee-based component. This dual-engine approach supports the overall financial structure.

Net Interest Income (NII) remains the primary driver. For the third quarter of 2025, NII from loans and securities was reported at $279.5 million. This figure reflects the ongoing management of the balance sheet in the prevailing interest rate environment.

Non-Interest Income provides diversification and stability, which was 36.6% of total revenue in Q3 2025. This segment is seeing specific growth areas, which you should monitor closely.

Here is a breakdown of the key components contributing to the revenue profile as of the third quarter of 2025:

Revenue Component	Q3 2025 Amount	Notes
Net Interest Income (NII)	$279.5 million	From loans and securities.
Non-Interest Income	$161.5 million	Comprised 36.6% of total revenue.
Total Quarterly Revenue	$440.9 million	Calculated from NII + Non-Interest Income.

The growth in Non-Interest Income is being specifically fueled by certain fee categories. You should track these closely as they represent areas of strategic focus for Commerce Bancshares, Inc.:

• Trust and investment advisory fees (noted as a key growth driver).
• Deposit service charges.
• Card fees.

The broader, trailing twelve months (LTM) perspective shows the scale of the business. Total revenue for the twelve months ending September 30, 2025, was approximately $2.123 billion, representing a 1.95% increase year-over-year. This LTM figure gives you the full annual context for the quarterly performance you see above. Honestly, the reliance on NII, while reliable, means that net interest margin management is always the central theme for Commerce Bancshares, Inc.

For your immediate action, Finance: draft 13-week cash view by Friday.