This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

John W. Kemper, President And COO Of Commerce Bancshares, Inc. (Photo: Business Wire)

Stocks in this article: CBSH

Commerce Bancshares, Inc. (NASDAQ:CBSH) announced today that the shareholders of Summit Bancshares Inc., parent company of Summit Bank, have approved the merger of Summit Bancshares Inc. (Summit) into a wholly owned subsidiary of Commerce Bancshares, Inc., effective September 1. Summit has total loans of $206 million and total deposits of $230 million and the transaction will be valued at approximately $44 million in Commerce Bancshares stock. With the merger of Summit Bank into Commerce Bank, combined, Commerce Bank will have approximately $454 million in loans, $363 million in total deposits, and more than 1,300 business banking relationships in the state of Oklahoma.

John W. Kemper, president and COO of Commerce Bancshares, Inc. (Photo: Business Wire)

John W. Kemper, president and COO of Commerce Bancshares, Inc. (Photo: Business Wire)

Commerce Bancshares, Inc. is a $21.9 billion bank holding company headquartered in Missouri. Commerce Bank, the principal subsidiary of Commerce Bancshares, Inc., has approximately 360 locations in the Midwest, primarily in Missouri, Illinois, and Kansas, but also in Colorado and Oklahoma.

“Now that the merger is complete, we are looking forward to welcoming Summit Bank customers to Commerce Bank,” said John W. Kemper, president and COO of Commerce Bancshares, Inc. “The merger will allow us to provide additional lending capacity, and products and services, including treasury services, leasing, international and money management to a new customer base in Oklahoma City and Tulsa.”

“We are eager to join Commerce. The former Summit Bank management team and Commerce both understand the importance of community and relationships,” said Wade Edmundson, CEO of Summit Bank who will become CEO of Commerce Bank’s Oklahoma market. “This partnership will benefit the business communities in Tulsa, Oklahoma City and throughout the state.”

“The talented staffs of Commerce and Summit have been working together for several months to prepare to make this transition as seamless as possible for our customers,” said Carl Hudgins, chairman, Commerce Bank’s Oklahoma market. “We are also pleased that our respective boards are excited about the transaction and we look forward to their continued involvement.”

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs