Commerce Bancshares, Inc. (CBSH): Modelo de Negócios Canvas [Jan-2025 Atualizado]

O Commerce Bancshares, Inc. (CBSH) surge como uma potência financeira dinâmica, navegando estrategicamente no cenário complexo do Bancário do Centro-Oeste com seu modelo de negócios inovador e centrado no cliente. Ao misturar perfeitamente os serviços bancários tradicionais com soluções digitais de ponta, o CBSH criou uma abordagem única que transcende as ofertas financeiras convencionais, direcionando diversos segmentos de clientes de clientes de varejo individuais a indivíduos e empresas regionais de alta rede. Sua estratégia abrangente aproveita a tecnologia avançada, o serviço personalizado e o profundo entendimento do mercado local para criar um ecossistema bancário robusto e adaptável que os diferencia no setor de serviços financeiros competitivos.

Commerce Bancshares, Inc. (CBSH) - Modelo de negócios: Parcerias -chave

Alianças estratégicas com empresas regionais de tecnologia financeira

O Commerce Bancshares estabeleceu as principais parcerias tecnológicas com os seguintes provedores de tecnologia financeira:

Parceiro	Foco em tecnologia	Ano de parceria
FIS (Fidelity National Information Services)	Plataforma bancária principal	2022
Jack Henry & Associados	Soluções bancárias digitais	2021
Fiserv	Sistemas de processamento de pagamento	2023

Colaboração com empresas locais para serviços bancários comerciais

O Commerce Bancshares mantém parcerias estratégicas em vários setores de negócios:

• Parcerias de empréstimos para Administração de Pequenas Empresas (SBA)
• Financiamento comercial de desenvolvimento imobiliário
• Redes de empréstimos agrícolas no Missouri, Kansas, Illinois

Setor de negócios	Acordos totais de parceria	Volume comercial anual
Pequenas empresas	487 parcerias ativas	US $ 214 milhões
Imóveis comerciais	129 Parcerias de Desenvolvimento	US $ 342 milhões
Empréstimos agrícolas	203 conexões de rede regional	US $ 156 milhões

Parcerias com provedores de seguros para soluções financeiras integradas

A Rede de Parceria de Seguro inclui:

• Seguro nacional
• Seguro de viajantes
• Liberty Mutual

Parceiro de seguro	Tipo de serviço	Volume anual de referência
Seguro nacional	Seguro pessoal/comercial	4.237 referências
Seguro de viajantes	Gerenciamento de riscos de negócios	3.912 referências
Liberty Mutual	Seguro de propriedade comercial	2.845 referências

Relacionamentos com redes de processamento de cartão de crédito

Commerce Bancshares mantém parcerias críticas de processamento de pagamento:

Rede	Volume de transação	Receita anual de processamento
Visa	12,4 milhões de transações	US $ 87,3 milhões
MasterCard	9,6 milhões de transações	US $ 64,5 milhões
American Express	3,2 milhões de transações	US $ 22,1 milhões

Commerce Bancshares, Inc. (CBSH) - Modelo de negócios: Atividades -chave

Serviços bancários comerciais e de varejo

O Commerce Bancshares opera 362 locais bancários em Missouri, Kansas, Illinois e Oklahoma, a partir de 2023. O total de ativos reportados em US $ 59,4 bilhões, com US $ 44,2 bilhões em empréstimos totais e US $ 51,8 bilhões em depósitos totais.

Categoria de serviço bancário	Receita anual	Segmento de clientes
Bancos comerciais	US $ 872 milhões	Clientes comerciais
Banco de varejo	US $ 456 milhões	Consumidores individuais

Desenvolvimento da plataforma bancária digital

As transações bancárias digitais aumentaram 28% em 2023, representando 67% do total de interações com os clientes.

• Aplicativo bancário móvel com 1,2 milhão de usuários ativos
• Volume de processamento de transações on -line: US $ 14,3 bilhões anualmente
• Taxa de abertura da conta digital: 42% das novas contas

Gerenciamento de riscos e monitoramento de conformidade

Orçamento do Departamento de Conformidade: US $ 42,5 milhões em 2023. Equipe de conformidade regulatória de 186 profissionais.

Área de conformidade	Investimento
Lavagem anti-dinheiro	US $ 15,2 milhões
Segurança cibernética	US $ 18,7 milhões

Inovação de produtos financeiros e gerenciamento de portfólio

Novo investimento em desenvolvimento de produtos financeiros: US $ 37,6 milhões em 2023.

• 5 novos produtos de investimento lançados
• Diversificação de portfólio em 12 diferentes classes de ativos
• Total de ativos de investimento gerenciado: US $ 22,3 bilhões

Relacionamento do cliente e gerenciamento de patrimônio

Receita da Divisão de Gerenciamento de Redação: US $ 276 milhões em 2023.

Serviço de gerenciamento de patrimônio	Total de ativos do cliente	Valor médio do cliente
Private Banking	US $ 8,6 bilhões	US $ 3,2 milhões
Aviso de investimento	US $ 13,7 bilhões	US $ 1,8 milhão

Commerce Bancshares, Inc. (CBSH) - Modelo de negócios: Recursos -chave

Extensa rede de filiais

A partir de 2023, o Commerce Bancshares mantém 379 locais bancários em Missouri, Kansas, Illinois, Oklahoma e Colorado.

Estado	Número de ramificações
Missouri	242
Kansas	67
Illinois	35
Oklahoma	22
Colorado	13

Tecnologia bancária digital

O Commerce Bancshares investiu US $ 87,4 milhões em infraestrutura de tecnologia em 2022.

• Plataforma bancária móvel com 1,2 milhão de usuários ativos
• Serviços bancários online que suportam 350.000 contas digitais
• Sistema de monitoramento de transações em tempo real

Capital humano

Força de trabalho total: 4.981 funcionários em 31 de dezembro de 2022.

Categoria de funcionários	Número de funcionários
Funcionários em tempo integral	4,652
Funcionários de meio período	329

Recursos financeiros

Métricas financeiras a partir do quarto trimestre 2022:

• Total de ativos: US $ 44,7 bilhões
• Total de depósitos: US $ 38,2 bilhões
• Equidade dos acionistas: US $ 5,9 bilhões
• Tier 1 Capital Ratio: 13,8%

Tecnologia proprietária

Alocação de investimento em tecnologia para 2022:

Área de tecnologia	Valor do investimento
Plataforma bancária digital	US $ 42,3 milhões
Infraestrutura de segurança cibernética	US $ 22,1 milhões
Sistemas de análise de dados	US $ 15,6 milhões

Commerce Bancshares, Inc. (CBSH) - Modelo de Negócios: Proposições de Valor

Soluções bancárias abrangentes para indivíduos e empresas

O Commerce Bancshares oferece uma gama diversificada de produtos bancários com os seguintes detalhes financeiros específicos:

Categoria de produto	Total de ativos	Número de contas
Bancos comerciais	US $ 42,1 bilhões	37.500 contas comerciais
Bancos pessoais	US $ 18,6 bilhões	225.000 contas pessoais

Atendimento ao cliente personalizado e conselhos financeiros

As métricas de atendimento ao cliente incluem:

• Classificação média de satisfação do cliente: 4.6/5
• Número de consultores financeiros: 285
• Tamanho médio do portfólio de clientes: US $ 1,2 milhão

Experiências bancárias digitais e móveis convenientes

Plataforma digital	Usuários ativos	Transações anuais
Aplicativo bancário móvel	412,000	68,3 milhões
Plataforma bancária online	356,000	52,7 milhões

Taxas de juros competitivas e produtos financeiros

Ofertas de taxa de juros:

• Conta de poupança: 3,75% APY
• Conta do mercado monetário: 4,25% APY
• CD de 12 meses: 4,50% APY

Experiência no mercado local e abordagem focada na comunidade

Presença geográfica	Número de ramificações	Investimento comunitário
Missouri	179	US $ 12,4 milhões
Kansas	86	US $ 5,7 milhões
Illinois	42	US $ 3,2 milhões

Commerce Bancshares, Inc. (CBSH) - Modelo de Negócios: Relacionamentos do Cliente

Consultoria financeira personalizada

O Commerce Bancshares oferece serviços personalizados de consultoria financeira com os seguintes detalhes específicos:

Serviço de consultoria	Disponibilidade	Segmentos de clientes
Consulta bancária pessoal	No ramo e online	Clientes de varejo e negócios
Advogado de gerenciamento de patrimônio	Com hora marcada	Indivíduos de alto patrimônio líquido
Planejamento financeiro de pequenas empresas	Slots semanais	Segmento de PME

Suporte ao cliente multicanal

Os canais de suporte ao cliente incluem:

• Suporte telefônico: disponível das 7h às 20h CST
• Chat online: suporte digital 24/7
• Suporte ao aplicativo móvel
• Assistência por e -mail
• Atendimento ao cliente no ramo

Programas de fidelidade para clientes de longo prazo

Programa	Benefícios	Critérios de qualificação
Programa de clientes Premier	Taxas reduzidas, taxas de juros mais altas	Balanço de conta de US $ 25.000+
Recompensas bancárias de negócios	Descontos de transação	Volume mensal de transação

Serviços regulares de educação financeira e consultoria

As ofertas de educação financeira incluem:

• Quartos on -line trimestrais
• Recursos online de alfabetização financeira
• Workshops de planejamento de aposentadoria
• Seminários de estratégia de investimento

Comunicação proativa e gerenciamento de contas

As estratégias de comunicação abrangem:

Método de comunicação	Freqüência	Propósito
Alertas da declaração da conta	Mensal	Atualizações de equilíbrio e transação
Notificações de proteção contra fraudes	Em tempo real	Monitoramento de segurança
E -mails de recomendação do produto	Trimestral	Serviços financeiros personalizados

Commerce Bancshares, Inc. (CBSH) - Modelo de Negócios: Canais

Rede de ramificação física

A partir de 2024, o Commerce Bancshares mantém 379 locais bancários de serviço completo em Missouri, Kansas, Illinois e Oklahoma.

Estado	Número de ramificações
Missouri	268
Kansas	62
Illinois	29
Oklahoma	20

Plataforma bancária online

Commerce Bancshares fornece uma plataforma de banco digital abrangente com 247.000 usuários bancários online ativos A partir do quarto trimestre 2023.

• Plataforma baseada na Web acessível 24/7
• Gerenciamento de conta seguro
• Serviços de pagamento da conta
• Rastreamento do histórico de transações

Aplicativo bancário móvel

O aplicativo móvel do banco tem 193.500 usuários ativos mensais em 2024.

Recurso de aplicativo móvel	Disponibilidade
Depósito de cheque móvel	Disponível
Controles de cartão	Disponível
Pagamentos ponto a ponto	Disponível

Rede ATM

Comércio Bancshares opera 512 ATM Localizações em suas regiões de serviço.

• Não há taxas de transação em caixas eletrônicos estrangeiros para titulares de contas
• Serviços de retirada em dinheiro 24/7
• Máquinas habilitadas para depósito em locais selecionados

Centros de atendimento ao cliente

O banco mantém 3 centros de atendimento ao cliente dedicados com a capacidade operacional de lidar com 78.000 interações com os clientes mensalmente.

Canal de serviço	Tempo médio de resposta
Suporte telefônico	2,7 minutos
Chat online	1,9 minutos
Suporte por e -mail	4,3 horas

Commerce Bancshares, Inc. (CBSH) - Modelo de negócios: segmentos de clientes

Clientes bancários de varejo individuais

A partir do quarto trimestre de 2023, o Commerce Bancshares atende 1,3 milhão de clientes bancários de varejo individuais em Missouri, Kansas, Illinois e Oklahoma.

Demografia demográfica do cliente	Percentagem
Idade 18-34	32%
Idade 35-54	41%
Idade 55 ou mais	27%

Pequenas e médias empresas

O CBSH suporta 78.500 clientes comerciais pequenos e médios, com receita anual entre US $ 500.000 e US $ 50 milhões.

• Tamanho médio de empréstimo comercial: US $ 375.000
• Contas de corrente de negócios: 42.300
• Serviços de comerciante clientes: 26.700

Clientes bancários corporativos e comerciais

O segmento bancário corporativo inclui 1.850 clientes corporativos com receitas anuais superiores a US $ 50 milhões.

Segmento da indústria	Número de clientes
Fabricação	425
Assistência médica	310
Tecnologia	275
Outros setores	840

Indivíduos de alta rede

O Commerce Bancshares gerencia US $ 4,2 bilhões em ativos de gerenciamento de patrimônio para 6.500 clientes de alta rede.

• Valor médio do portfólio de clientes: $ 646.000
• Clientes com mais de US $ 1 milhão em ativos: 1.850

Comunidade local e foco do mercado regional

A presença do mercado abrange 4 estados com 342 locais bancários e 483 caixas eletrônicos em dezembro de 2023.

Estado	Número de ramificações
Missouri	212
Kansas	84
Illinois	36
Oklahoma	10

Commerce Bancshares, Inc. (CBSH) - Modelo de negócios: estrutura de custos

Operação de ramificação e despesas de manutenção

A partir de 2022, o Commerce Bancshares registrou despesas totais relacionadas à filial de US $ 184,3 milhões. A empresa opera 361 locais bancários em Missouri, Kansas, Illinois e Oklahoma.

Categoria de despesa	Valor (2022)
Manutenção da instalação	US $ 52,6 milhões
Aluguel e ocupação	US $ 37,9 milhões
Utilitários	US $ 14,2 milhões

Infraestrutura de tecnologia e investimentos de plataforma digital

Em 2022, o Commerce Bancshares investiu US $ 98,7 milhões em tecnologia e infraestrutura digital.

• Atualizações do sistema bancário principal: US $ 42,3 milhões
• Aprimoramentos de segurança cibernética: US $ 22,5 milhões
• Desenvolvimento da plataforma bancária digital: US $ 33,9 milhões

Salários e benefícios dos funcionários

As despesas totais de compensação para 2022 foram de US $ 457,6 milhões.

Componente de compensação	Valor (2022)
Salários da base	US $ 312,4 milhões
Bônus de desempenho	US $ 65,2 milhões
Benefícios de saúde e aposentadoria	US $ 80,0 milhões

Custos de conformidade regulatória e gerenciamento de riscos

As despesas relacionadas à conformidade totalizaram US $ 76,5 milhões em 2022.

• Sistemas de relatórios regulatórios: US $ 28,3 milhões
• Pessoal de conformidade: US $ 32,7 milhões
• Tecnologia de gerenciamento de riscos: US $ 15,5 milhões

Despesas de marketing e aquisição de clientes

As despesas de marketing para 2022 atingiram US $ 43,2 milhões.

Canal de marketing	Quantidade de despesa
Marketing digital	US $ 18,6 milhões
Publicidade tradicional	US $ 15,4 milhões
Patrocínio da comunidade	US $ 9,2 milhões

Commerce Bancshares, Inc. (CBSH) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos e produtos de crédito

Para o ano fiscal de 2023, o Commerce Bancshares registrou receita de juros líquidos de US $ 1,16 bilhão. A quebra de renda de juros inclui:

Categoria de empréstimo	Receita de juros ($ m)
Empréstimos comerciais	US $ 682 milhões
Empréstimos ao consumidor	US $ 378 milhões
Empréstimos hipotecários	US $ 215 milhões

Taxas de serviço bancário

As taxas de serviço bancário para 2023 totalizaram US $ 247 milhões, com a seguinte distribuição:

• Taxas de manutenção de conta: US $ 89 milhões
• Taxas de cheque especial: US $ 62 milhões
• Taxas de transação ATM: US $ 43 milhões
• Outras taxas de serviço bancário: US $ 53 milhões

Receitas de investimento e gerenciamento de patrimônio

Os serviços de investimento geraram US $ 156 milhões em receita para 2023:

Fonte de receita	Valor ($ m)
Taxas de gerenciamento de ativos	US $ 98 milhões
Comissões de corretagem	US $ 58 milhões

Taxas de processamento de transações

As receitas de processamento de transações atingiram US $ 94 milhões em 2023:

• Taxas de transação do cartão de crédito: US $ 52 milhões
• Taxas de transação do cartão de débito: US $ 42 milhões

Cobranças de serviço bancário digital

Os serviços bancários digitais geraram US $ 37 milhões em taxas de serviço para 2023.

Serviço digital	Receita ($ m)
Taxas bancárias online	US $ 22 milhões
Cobranças bancárias móveis	US $ 15 milhões

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.