Commerce Bancshares, Inc. · NASDAQ:CBSH
Commerce Bancshares — Shareholder Meeting (April 2026)
46 slides from Commerce Bancshares's shareholder meeting presentation, Apr 24, 2026
Slide 1: Annual Shareholders' Meeting
FROM INSIGHT TO ACTION COMMERCE BANCSHARES, INC. ANNUAL SHAREHOLDERS’ MEETING April 24, 2026
Slide 2: CBI Annual Shareholders' Meeting: Agenda
CBI ANNUAL SHAREHOLDERS’ MEETING: AGENDA 1 Call to Order and Welcome 2 Rules of Conduct 3 Secretary’s Report 4 Business Matters 5 Introduction of Public Accountants 6 CEO’s Presentation 7 Adjournment 2
Slide 3: CBI Annual Shareholders' Meeting: Agenda
CBI ANNUAL SHAREHOLDERS’ MEETING: AGENDA 1 Call to Order and Welcome 2 Rules of Conduct 3 Secretary’s Report 4 Business Matters 5 Introduction of Public Accountants 6 CEO’s Presentation 7 Adjournment 3
Slide 4: CBI Annual Shareholders' Meeting: Agenda
CBI ANNUAL SHAREHOLDERS’ MEETING: AGENDA 1 Call to Order and Welcome 2 Rules of Conduct 3 Secretary’s Report 4 Business Matters 5 Introduction of Public Accountants 6 CEO’s Presentation 7 Adjournment 4
Slide 5: CBI Annual Shareholders' Meeting: Agenda
CBI ANNUAL SHAREHOLDERS’ MEETING: AGENDA 1 Call to Order and Welcome 2 Rules of Conduct 3 Secretary’s Report 4 Business Matters 5 Introduction of Public Accountants 6 CEO’s Presentation 7 Adjournment 5
Slide 6: CBI Annual Shareholders' Meeting: Agenda
CBI ANNUAL SHAREHOLDERS’ MEETING: AGENDA 1 Call to Order and Welcome 2 Rules of Conduct 3 Secretary’s Report 4 Business Matters 5 Introduction of Public Accountants 6 CEO’s Presentation 7 Adjournment 6
Slide 7: CBI Annual Shareholders' Meeting: Agenda
CBI ANNUAL SHAREHOLDERS’ MEETING: AGENDA 1 Call to Order and Welcome 2 Rules of Conduct 3 Secretary’s Report 4 Business Matters 5 Introduction of Public Accountants 6 CEO’s Presentation 7 Adjournment 7
Slide 8: CEO Presentation: John Kemper
FROM INSIGHT TO ACTION COMMERCE BANCSHARES, INC. ANNUAL SHAREHOLDERS’ MEETING John Kemper President and Chief Executive Officer April 24, 2026
Slide 9: 2025 Annual Report
FROM INSIGHT TO ACTION Investor.commercebank.com 2025 Annual Report 9
Slide 10: Forward-Looking Statements
CAUTIONARY STATEMENT Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended,
Slide 11: Today's Discussion
TODAY’S DISCUSSION About Economic Our From Commerce and Industry Strategic Insight to Bancshares Themes Position Action 11
Slide 12: Today's Discussion
TODAY’S DISCUSSION About Economic Our From Commerce and Industry Strategic Insight to Bancshares Themes Position Action 12
Slide 13: Over 160 Years of Strength & Stability
OVER 160 YEARS OF STRENGTH & STABILITY Commerce Bank is One of the Strongest Financial Institutions in the U.S. CORE BANKING FOOTPRINT #2 With a Tier 1 risk-based capital COMMERCIAL, RETAIL, WEALTH MANAGEMENT ratio of 17.34%, Commerce • St. Louis • Central Missouri • Tulsa • Kansas City • Central Il
Slide 14: Super-Community Bank Platform
SUPER-COMMUNITY BANK PLATFORM A consistent strategy with a long-term view Customer relationship-based: COMMUNITY BANK Challenge Accepted.® SUPER-REGIONAL BANK Award-winning High-performing teams Sophisticated payment customer service and engaged workforce system capabilities Broad consumer Focus on
Slide 15: A Strong Culture Is the Foundation of Our Success
A STRONG CULTURE IS THE FOUNDATION OF OUR SUCCESS At Commerce, our core values shape the way we live and work: We have a We collaborate We act with We are We strive for long-term as one team integrity customer- excellence view focused How we put our culture into practice: What defines us, ultimately
Slide 16: Commerce's Focus Extends Beyond Banking
COMMERCE’S FOCUS EXTENDS BEYOND BANKING We seek opportunities to help make our communities and our company a better place to live and work 2025 Engagement & Enablement1 Consistently scoring above the U.S. 500+ OUTSTANDING Financial Services norms for engagement, Nonprofit organizations RATING enable
Slide 17: Recent Recognition
RECENT RECOGNITION 2025 2025 Bank Director U.S. News & World Report Best Companies to Work For Top 25 U.S. Banks1 in Finance & Insurance Midwest2 2 consecutive years 3 consecutive years 2024 2025 S&P Global Center for Disability Inclusion Market Intelligence Leader in Top 50 Public Banks3 Disability
Slide 18: Today's Discussion
TODAY’S DISCUSSION About Economic Our From Commerce and Industry Strategic Insight to Bancshares Themes Position Action 18
Slide 19: Macroeconomic Environment: 2025 in Review
MACROECONOMIC ENVIRONMENT: 2025 IN REVIEW Evolving economic landscape presents challenges and opportunities GROWTH JOBS INTEREST RATES MARKETS • U.S. GDP slowed to • Job growth slowed • After a 1% reduction in • The S&P 500 2.1% in 2025 amid dramatically in 2025, 2024, Fed “paused” in delivered a ne
Slide 20: Key Themes Driving 2025 Bank Industry Performance
KEY THEMES DRIVING 2025 BANK INDUSTRY PERFORMANCE Improving Fundamentals Macro over Micro • Material growth in EPS • Fed’s path, inflation stickiness, and political / • Positive operating leverage regulatory noise overshadow micro-level execution • Improving loan growth • Challenging rate environmen
Slide 21: Today's Discussion
TODAY’S DISCUSSION About Economic Our From Commerce and Industry Strategic Insight to Bancshares Themes Position Action 21
Slide 22: Strategic Posture: Maintaining the Balance
STRATEGIC POSTURE: MAINTAINING THE BALANCE STRONG PERFORMANCE with Disciplined focus on ongoing refinement of the PRIORITY BLUE CHIP “Core Bank” investments • Super-Community Bank platform • Accelerate API Strategy • Relationship-based banking • Consumer Digital Deposit • High-touch customer service
Slide 23: Strategic Acquisition of FineMark Holdings, Inc.
STRATEGIC ACQUISITION OF TOTAL FineMark metrics as of June 16, 2025 FINEMARK HOLDINGS, INC. deal announcement ASSETS Expands our presence in high-growth $4.0 FEE INCOME markets & leverages our wealth platform BILLION AS % OF REVENUE1 TOTAL TRUST 43% ASSETS UNDER ADMINISTRATION 10-YEAR $7.7 NCOs2 BIL
Slide 24: Strategic Growth: Commerce & FineMark
STRATEGIC GROWTH: COMMERCE & FINEMARK A combination that creates a leading wealth management platform among full-service banks FineMark Acquisition Highlights • Merger completed on January 1, 2026 • Approximate value at close: $529 million1 • Consideration mix: 100% stock • Fixed Exchange Ratio: .72
Slide 25: Wealth Segment
Wealth Segment For more than 100 years, Commerce Trust has helped clients navigate through life 16th $82 $51 events, delivering personalized Largest Among Bank-Managed BILLION BILLION service to achieve long-term Trust Total Client Assets2 Assets Under Management Companies1 financial goals through o
Slide 26: Wealth Key Growth Initiatives
Wealth Segment Wealth Key Growth Initiatives Strengthening our Wealth Brands • Strengthening Wealth Capabilities: Integrating FineMark and enhancing the capabilities of our holistic multi-disciplinary model. • Geographic Growth: Support expansion into select, high-growth markets to broaden reach and
Slide 27: Retail Banking Snapshot
RETAIL BANKING SNAPSHOT Retail Segment 140 BRANCHES 247 ATMs $12.3 $3.7 754 BILLION BILLION THOUSAND Retail Retail Retail Deposits1 Loans1 Households1 Mobile App rating: 4.7 Focus on Relationships & Customer Experience Customer Primacy Relationship Score 75% 91% 8% 50% 7th consecutive year 6th conse
Slide 28: Commercial Banking: Solutions That Matter
COMMERCIAL BANKING: SOLUTIONS THAT MATTER Commercial Segment Revenue growth opportunities Financing solutions & deposit capabilities customized for your business • Working Capital Line of Credit • Commercial Real Estate • Full suite of Cash Management Solutions • Term Loans • ESOP Loans • Robust Car
Slide 29: Industry-Leading Commercial Payments
INDUSTRY-LEADING COMMERCIAL PAYMENTS Commercial Segment CAPABILITIES Innovative payments solutions to manage payables and receivables that enhance cash flow, streamline processing and increase efficiencies Treasury Commercial Payments Merchant Management Card Revenue Volume Revenue Volume $226 $74 $
Slide 30: Healthcare Banking Specialty
Commercial Segment We don’t just serve the healthcare industry. It’s our specialty. CommerceHealthcare® Relationship Patient Receivables Engagement Management Solutions Solutions • Patient Lending • Receivables Optimization • Online Bill Pay • Reconciliation Automation • Patient Refunds • Healthcare
Slide 31: Expansion Markets Offer Growth Opportunities
EXPANSION MARKETS OFFER GROWTH OPPORTUNITIES Expansion Market Loan Growth1 Core Banking and Expansion $ in billions $3.5 $3.6 Expansion Market Market Loan $3.3 Growth $2.9 Footprint $2.5 $2.6 +46% since 2020 2020 2021 2022 2023 2024 2025 Expansion Market Fee Income Growth2 $ in millions Fee Income $
Slide 32: Digital Technology: Application Modernization
DIGITAL TECHNOLOGY: APPLICATION MODERNIZATION Application Modernization is the focused effort to re-platform, replace, or significantly improve application platforms for the express purpose of modernizing features and capabilities, improving total cost of ownership, and / or reducing operating risk.
Slide 33: Today's Discussion
TODAY’S DISCUSSION About Economic Our From Commerce and Industry Strategic Insight to Bancshares Themes Position Action 33
Slide 34: 2025 Financial Performance vs. Prior Year
2025 FINANCIAL PERFORMANCE VS. PRIOR YEAR Record year for top line, bottom line, EPS and ROA $566M ROA ROE EARNINGS NET INCOME PER SHARE 8% 9% Attributable to CBI 1.79% 15.8% $4.04 DIVIDEND NET DEPOSITS Period end 1% GROWTH INTEREST 7% 7% INCOME LOANS Period end 3% LONG-TERM OUTPERFORMANCE RELATIVE
Slide 35: 2025 Year End Earnings
2025 YEAR END EARNINGS % $ in millions 2024 2025 change RETURN ON AVERAGE ASSETS CASH Net interest income $ 1,040 $ 1,112 7% 1.72% 1.79% DIVIDENDS Non-interest income 616 652 6% 2024 2025 $.98 Total revenue 1,656 1,764 7% 2024 Securities gains 8 4 -53% $1.05 Non-interest expense (951) (980) 3% RETUR
Slide 36: A Full-Service, Diversified Operating Model
A FULL-SERVICE, DIVERSIFIED OPERATING MODEL Card, Wealth & Deposit fees provide stable, growing revenue source Revenue Source Diversification Non-Interest Income $ in millions $616 $652 Compared to Peers $560 $573 $547 Card Income Other 37% Fee Fees & 5% Income mix vs Commissions 3% Deposit Service
Slide 37: Well-Diversified Loan Portfolio
WELL-DIVERSIFIED LOAN PORTFOLIO YTD Average Loans2 Loan Portfolio Diversification $ in millions $17,476 $17,090 Compared to Peers1 $16,783 $15,686 $15,570 Consumer/ Credit HELOCs Card 3% Business Residential RE 3% Loans 22% 11% 30% 2021 2022 2023 2024 2025 37% 2025 Loan Growth by Category COMMERCE P
Slide 38: Sound Capital and Liquidity Position
SOUND CAPITAL AND LIQUIDITY POSITION Tier 1 Risk-Based Capital Ratio1 Loan to Deposit Ratio PB Peer Median: 12.9% Large, stable deposit base 17.6% 69% Average CBSH 17.3% Core Deposits Loan to HOMB 16.3% Deposit Ratio 3 CFR 14.5% $23.3 Commerce 82% FIBK 14.4% Average Loan to WSFS 13.9% Billion2 Depos
Slide 39: Credit Performance Over Time
CREDIT PERFORMANCE OVER TIME Non-Accrual Loans to Total Assets (%) 2.5% CBSH Peer Average Recession 2.0 1.5 1.0 0.5 0.0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Peer Banks include: ABCB, ASB, OZK, BOKF, CADE, CFR, FNB, FIBK, FULT, HWC, HOMB,
Slide 40: Outperformance Relative to Peers Through Economic Cycles
OUTPERFORMANCE RELATIVE TO PEERS, THROUGH ECONOMIC CYCLES ROAA 25-year average Return on Average Assets CBSH: Peers: 2.0% 1.40% 1.05% 1.5% 1.0% 0.5% 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025 CBSH Peer Median Recession Peer Banks include: ABCB, ASB, BOKF, CADE, CFR, FIBK, FNB,
Slide 41: Comparisons vs. Peers
COMPARISONS VS. PEERS YTD Dec 2025 Return on Return on Troubled Loans / Average Assets Average Equity Capital Total Loans Commerce 15.76% Commerce 0.09% Commerce 1.79% Commerce 17.34% 2ND HIGHEST HIGHEST RETURN 2ND HIGHEST LOWEST LEVEL OF RETURN ON ASSETS ON EQUITY CAPITAL RATIO TROUBLED LOANS Metri
Slide 42: Financial Highlights QTD: March 31, 2026
FINANCIAL HIGHLIGHTS QTD: MARCH 31, 2026 • Earnings of $.96 per share, compared to $.93 per share in the same quarter last year • ROAA of 1.62% and ROAE of 13.22% Performance • Efficiency ratio of 60.0% • Financial results reflect the first full quarter of the FineMark acquisition 1Q 2026 earnings r
Slide 43: Long-Term View: Net Income and Earnings Per Share
LONG-TERM VIEW: NET INCOME AND EARNINGS PER SHARE $600 Earnings Per Share Net Income $4.50 4.00 Earnings per Share 500 3.50 Net Income 400 $ 000s 3.00 2.50 300 2.00 200 1.50 100 1.00 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Dividends $0.53 $0.55 $0.58 $0.64 $0.74 $0.81 $0.82 $0.87 $0.9
Slide 44: An "All-Weather" Operating Model
AN “ALL-WEATHER” OPERATING MODEL Revenue Diversification Deposit Franchise Balanced earnings profile, fee revenue $24.3 billion in low-cost, diverse at 37%1 of total revenue, bolstered by deposits2 with peer-leading growing wealth and national payments historical deposit betas businesses Credit Qual
Slide 45: Annual Shareholders' Meeting
FROM INSIGHT TO ACTION COMMERCE BANCSHARES, INC. ANNUAL SHAREHOLDERS’ MEETING
Slide 46: CBI Annual Shareholders' Meeting: Agenda
CBI ANNUAL SHAREHOLDERS’ MEETING: AGENDA 1 Call to Order and Welcome 2 Rules of Conduct 3 Secretary’s Report 4 Business Matters 5 Introduction of Public Accountants 6 CEO’s Presentation 7 Adjournment 46
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