Commerce Bancshares, Inc. (CBSH): Business Model Canvas [Jan-2025 Mis à jour]

Commerce Bancshares, Inc. (CBSH) apparaît comme une puissance financière dynamique, naviguant stratégiquement dans le paysage complexe de la banque du Midwest avec son modèle commercial innovant et centré sur le client. En mélangeant de manière transparente les services bancaires traditionnels avec des solutions numériques de pointe, CBSH a conçu une approche unique qui transcende les offres financières conventionnelles, ciblant divers segments de clients de clients de détail individuels aux particuliers et aux entreprises régionales élevées. Leur stratégie complète tire parti des technologies avancées, des services personnalisés et une compréhension approfondie du marché local pour créer un écosystème bancaire robuste et adaptable qui les distingue dans le secteur des services financiers concurrentiels.

Commerce Bancshares, Inc. (CBSH) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec les sociétés de technologie financière régionale

Commerce Bancshares a établi des partenariats technologiques clés avec les fournisseurs de technologies financières suivantes:

Partenaire	Focus technologique	Année de partenariat
FIS (Fidelity National Information Services)	Plateforme bancaire de base	2022
Jack Henry & Associés	Solutions bancaires numériques	2021
Finerv	Systèmes de traitement des paiements	2023

Collaboration avec les entreprises locales pour les services bancaires commerciaux

Commerce Bancshares maintient des partenariats stratégiques dans plusieurs secteurs commerciaux:

• Partenariats de prêt de la Small Business Administration (SBA)
• Financement commercial du développement immobilier
• Réseaux de prêts agricoles au Missouri, Kansas, Illinois

Secteur des affaires	Accords de partenariat total	Volume commercial annuel
Petite entreprise	487 partenariats actifs	214 millions de dollars
Immobilier commercial	129 partenariats de développement	342 millions de dollars
Prêts agricoles	203 Connexions de réseau régional	156 millions de dollars

Partenariats avec les fournisseurs d'assurance pour des solutions financières intégrées

Le réseau de partenariat d'assurance comprend:

• Assurance à l'échelle nationale
• Assurance voyageurs
• Liberty Mutual

Partenaire d'assurance	Type de service	Volume de référence annuel
Assurance à l'échelle nationale	Assurance personnelle / commerciale	4 237 références
Assurance voyageurs	Gestion des risques d'entreprise	3 912 références
Liberty Mutual	Assurance des biens commerciaux	2 845 références

Relations avec les réseaux de traitement des cartes de crédit

Commerce Bancshares conserve des partenariats de traitement des paiements critiques:

Réseau	Volume de transaction	Revenus de traitement annuels
Visa	12,4 millions de transactions	87,3 millions de dollars
MasterCard	9,6 millions de transactions	64,5 millions de dollars
American Express	3,2 millions de transactions	22,1 millions de dollars

Commerce Bancshares, Inc. (CBSH) - Modèle d'entreprise: activités clés

Services de vente au détail et commerciaux

Commerce Bancshares exploite 362 sites bancaires à travers le Missouri, le Kansas, l'Illinois et l'Oklahoma en 2023. Les actifs totaux ont déclaré 59,4 milliards de dollars avec 44,2 milliards de dollars de prêts totaux et 51,8 milliards de dollars de dépôts.

Catégorie de service bancaire	Revenus annuels	Segment de clientèle
Banque commerciale	872 millions de dollars	Clients commerciaux
Banque de détail	456 millions de dollars	Consommateurs individuels

Développement de la plate-forme bancaire numérique

Les transactions bancaires numériques ont augmenté de 28% en 2023, ce qui représente 67% des interactions totales du client.

• Application bancaire mobile avec 1,2 million d'utilisateurs actifs
• Volume de traitement des transactions en ligne: 14,3 milliards de dollars par an
• Taux d'ouverture du compte numérique: 42% des nouveaux comptes

Gestion des risques et surveillance de la conformité

Budget du Département de la conformité: 42,5 millions de dollars en 2023. Équipe de conformité réglementaire de 186 professionnels.

Zone de conformité	Investissement
Anti-blanchiment	15,2 millions de dollars
Cybersécurité	18,7 millions de dollars

Innovation des produits financiers et gestion du portefeuille

Nouveau investissement en développement de produits financiers: 37,6 millions de dollars en 2023.

• 5 nouveaux produits d'investissement lancés
• Diversification du portefeuille dans 12 classes d'actifs différentes
• Actifs d'investissement gérés totaux: 22,3 milliards de dollars

Relation client et gestion de la patrimoine

Revenus de la division de gestion de patrimoine: 276 millions de dollars en 2023.

Service de gestion de patrimoine	Actifs totaux du client	Valeur moyenne du client
Banque privée	8,6 milliards de dollars	3,2 millions de dollars
Avis d'investissement	13,7 milliards de dollars	1,8 million de dollars

Commerce Bancshares, Inc. (CBSH) - Modèle d'entreprise: Ressources clés

Réseau de succursale étendue

En 2023, le commerce Bancshares maintient 379 emplacements bancaires à travers le Missouri, le Kansas, l'Illinois, l'Oklahoma et le Colorado.

État	Nombre de branches
Missouri	242
Kansas	67
Illinois	35
Oklahoma	22
Colorado	13

Technologie bancaire numérique

Commerce Bancshares a investi 87,4 millions de dollars dans l'infrastructure technologique en 2022.

• Plateforme de banque mobile avec 1,2 million d'utilisateurs actifs
• Services bancaires en ligne soutenant 350 000 comptes numériques
• Système de surveillance des transactions en temps réel

Capital humain

Total de la main-d'œuvre: 4 981 employés au 31 décembre 2022.

Catégorie des employés	Nombre d'employés
Employés à temps plein	4,652
Employés à temps partiel	329

Ressources financières

Mesures financières auprès du quatrième trimestre 2022:

• Actif total: 44,7 milliards de dollars
• Dépôts totaux: 38,2 milliards de dollars
• Présentation des actionnaires: 5,9 milliards de dollars
• Ratio de capital de niveau 1: 13,8%

Technologie propriétaire

Attribution des investissements technologiques pour 2022:

Zone technologique	Montant d'investissement
Plate-forme bancaire numérique	42,3 millions de dollars
Infrastructure de cybersécurité	22,1 millions de dollars
Systèmes d'analyse de données	15,6 millions de dollars

Commerce Bancshares, Inc. (CBSH) - Modèle d'entreprise: propositions de valeur

Solutions bancaires complètes pour les particuliers et les entreprises

Commerce Bancshares propose une gamme diversifiée de produits bancaires avec les détails financiers spécifiques suivants:

Catégorie de produits	Actif total	Nombre de comptes
Banque commerciale	42,1 milliards de dollars	37 500 comptes d'entreprise
Banque personnelle	18,6 milliards de dollars	225 000 comptes personnels

Service client personnalisé et conseils financiers

Les mesures de service client comprennent:

• Évaluation moyenne de satisfaction du client: 4.6 / 5
• Nombre de conseillers financiers: 285
• Taille moyenne du portefeuille des clients: 1,2 million de dollars

Expériences de banque numérique et mobile pratique

Plate-forme numérique	Utilisateurs actifs	Transactions annuelles
Application bancaire mobile	412,000	68,3 millions
Plateforme bancaire en ligne	356,000	52,7 millions

Taux d'intérêt concurrentiels et produits financiers

Offres de taux d'intérêt:

• Compte d'épargne: 3,75% apy
• Compte du marché monétaire: 4,25% apy
• CD à 12 mois: 4,50% APY

Expertise du marché local et approche axée sur la communauté

Présence géographique	Nombre de branches	Investissement communautaire
Missouri	179	12,4 millions de dollars
Kansas	86	5,7 millions de dollars
Illinois	42	3,2 millions de dollars

Commerce Bancshares, Inc. (CBSH) - Modèle d'entreprise: relations avec les clients

Conseil financier personnalisé

Commerce Bancshares offre des services de conseil financier personnalisés avec les détails spécifiques suivants:

Service de conseil	Disponibilité	Segments de clientèle
Consultation bancaire personnelle	Branch et en ligne	Clients commerciaux et commerciaux
Avis de gestion de la patrimoine	À la nomination	Individus de valeur nette élevée
Planification financière des petites entreprises	Créneaux hebdomadaires	Segment PME

Support client multicanal

Les canaux de support client comprennent:

• Prise en charge du téléphone: Disponible de 7h à 20h CST
• Chat en ligne: support numérique 24/7
• Prise en charge de l'application mobile
• Assistance par e-mail
• Service client en branche

Programmes de fidélité pour les clients à long terme

Programme	Avantages	Critères de qualification
Programme client de premier plan	Frais réduits, taux d'intérêt plus élevés	25 000 $ + solde de compte
Récompenses bancaires d'entreprise	Remises de transaction	Volume de transaction mensuel

Services d'éducation financière et de conseil réguliers

Les offres d'éducation financière comprennent:

• Webinaires trimestriels
• Ressources de littératie financière en ligne
• Ateliers de planification de la retraite
• Séminaires de stratégie d'investissement

Communication proactive et gestion des comptes

Les stratégies de communication englobent:

Méthode de communication	Fréquence	But
Alertes des déclarations de compte	Mensuel	Mises à jour du solde et des transactions
Notifications de protection contre la fraude	En temps réel	Surveillance de la sécurité
Courriels de recommandation de produit	Trimestriel	Services financiers personnalisés

Commerce Bancshares, Inc. (CBSH) - Modèle d'entreprise: canaux

Réseau de succursale physique

En 2024, le commerce Bancshares maintient 379 sites bancaires à service complet à travers le Missouri, le Kansas, l'Illinois et l'Oklahoma.

État	Nombre de branches
Missouri	268
Kansas	62
Illinois	29
Oklahoma	20

Plateforme bancaire en ligne

Commerce Bancshares fournit une plate-forme bancaire numérique complète avec 247 000 utilisateurs bancaires en ligne actifs au Q4 2023.

• Plate-forme Web accessible 24/7
• Gestion de compte sécurisée
• Services de paiement de factures
• Suivi de l'historique des transactions

Application bancaire mobile

L'application mobile de la banque a 193 500 utilisateurs actifs mensuels en 2024.

Fonctionnalité d'application mobile	Disponibilité
Dépôt de chèques mobiles	Disponible
Commandes de carte	Disponible
Paiements de pairs	Disponible

Réseau ATM

Commerce Bancshares fonctionne 512 emplacements ATM à travers ses régions de service.

• Pas de frais de transaction ATM étrangers pour les titulaires de compte
• Services de retrait en espèces 24/7
• Machines à dépôt à des emplacements sélectionnés

Centres d'appels de service client

La banque maintient 3 centres de service à la clientèle dédiés avec la capacité opérationnelle de la gestion des 78 000 interactions clients mensuellement.

Canal de service	Temps de réponse moyen
Support téléphonique	2,7 minutes
Chat en ligne	1,9 minutes
Assistance par e-mail	4,3 heures

Commerce Bancshares, Inc. (CBSH) - Modèle d'entreprise: segments de clientèle

Clients bancaires de détail individuels

Au quatrième trimestre 2023, le commerce Bancshares dessert 1,3 million de clients bancaires de détail individuels à travers le Missouri, le Kansas, l'Illinois et l'Oklahoma.

Client démographique	Pourcentage
18-34 ans	32%
35 à 54 ans	41%
55 ans et plus	27%

Petites et moyennes entreprises

CBSH prend en charge 78 500 clients commerciaux de petite à moyenne taille avec des revenus annuels entre 500 000 et 50 millions de dollars.

• Taille moyenne des prêts commerciaux: 375 000 $
• Comptes de chèques commerciaux: 42 300
• Clients des services marchands: 26 700

Clients bancaires d'entreprise et commerciaux

Le segment des services bancaires d'entreprise comprend 1 850 clients d'entreprise avec des revenus annuels dépassant 50 millions de dollars.

Segment de l'industrie	Nombre de clients
Fabrication	425
Soins de santé	310
Technologie	275
Autres secteurs	840

Individus à haute nette

Commerce Bancshares gère 4,2 milliards de dollars d'actifs de gestion de patrimoine pour 6 500 clients à haute teneur en noue.

• Valeur moyenne du portefeuille des clients: 646 000 $
• Clients avec plus d'un million de dollars d'actifs: 1 850

Focus sur la communauté locale et le marché régional

La présence du marché s'étend sur 4 États avec 342 emplacements bancaires et 483 distributeurs automatiques de billets en décembre 2023.

État	Nombre de branches
Missouri	212
Kansas	84
Illinois	36
Oklahoma	10

Commerce Bancshares, Inc. (CBSH) - Modèle d'entreprise: Structure des coûts

Frais de fonctionnement et de maintenance de la succursale

En 2022, le commerce Bancshares a déclaré des dépenses totales liées à la succursale de 184,3 millions de dollars. La société exploite 361 sites bancaires à travers le Missouri, le Kansas, l'Illinois et l'Oklahoma.

Catégorie de dépenses	Montant (2022)
Entretien d'installation	52,6 millions de dollars
Loyer et occupation	37,9 millions de dollars
Services publics	14,2 millions de dollars

Infrastructure technologique et investissements de plate-forme numérique

En 2022, le commerce Bancshares a investi 98,7 millions de dollars en technologie et infrastructure numérique.

• Mises à niveau du système bancaire de base: 42,3 millions de dollars
• Améliorations de la cybersécurité: 22,5 millions de dollars
• Développement de la plate-forme bancaire numérique: 33,9 millions de dollars

Salaires et avantages sociaux des employés

Les dépenses totales d'indemnisation pour 2022 étaient de 457,6 millions de dollars.

Composant de compensation	Montant (2022)
Salaires de base	312,4 millions de dollars
Bonus de performance	65,2 millions de dollars
Prestations de santé et de retraite	80,0 millions de dollars

Contacments de conformité réglementaire et de gestion des risques

Les dépenses liées à la conformité ont totalisé 76,5 millions de dollars en 2022.

• Systèmes de rapports réglementaires: 28,3 millions de dollars
• Personnel de conformité: 32,7 millions de dollars
• Technologie de gestion des risques: 15,5 millions de dollars

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour 2022 ont atteint 43,2 millions de dollars.

Canal de marketing	Montant des dépenses
Marketing numérique	18,6 millions de dollars
Publicité traditionnelle	15,4 millions de dollars
Parrainages communautaires	9,2 millions de dollars

Commerce Bancshares, Inc. (CBSH) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des prêts et des produits de crédit

Pour l'exercice 2023, le commerce Bancshares a déclaré un revenu net d'intérêts de 1,16 milliard de dollars. La rupture des revenus des intérêts comprend:

Catégorie de prêt	Revenu des intérêts ($ m)
Prêts commerciaux	682 millions de dollars
Prêts à la consommation	378 millions de dollars
Prêts hypothécaires	215 millions de dollars

Frais de service bancaire

Les frais de service bancaire pour 2023 ont totalisé 247 millions de dollars, avec la distribution suivante:

• Frais de maintenance du compte: 89 millions de dollars
• Frais de découvert: 62 millions de dollars
• Frais de transaction ATM: 43 millions de dollars
• Autres frais de service bancaire: 53 millions de dollars

Revenus d'investissement et de gestion de la patrimoine

Les services d'investissement ont généré 156 millions de dollars de revenus pour 2023:

Source de revenus	Montant ($ m)
Frais de gestion des actifs	98 millions de dollars
Commissions de courtage	58 millions de dollars

Frais de traitement des transactions

Les revenus de traitement des transactions ont atteint 94 millions de dollars en 2023:

• Frais de transaction de carte de crédit: 52 millions de dollars
• Frais de transaction par carte de débit: 42 millions de dollars

Frais de service bancaire numérique

Les services bancaires numériques ont généré 37 millions de dollars de frais de service pour 2023.

Service numérique	Revenus ($ m)
Frais bancaires en ligne	22 millions de dollars
Frais de banque mobile	15 millions de dollars

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.