Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors approved a 5 percent stock dividend payable on December 19, 2011 to shareholders of record at the close of business on November 30, 2011. Shares issued as a result of the stock dividend will be entered by Direct Registration System on the records of the Company’s transfer agent, Computershare, and statements reflecting the issuance will be mailed on November 30, 2011. No fractional shares will be issued and shareholders will receive cash for such fractional interests based on the market value of the stock on the record date. The Board of Directors also declared a regular quarterly dividend of $0.23 per share on the Company's common stock payable December 19, 2011 to stockholders of record at the close of business on November 30, 2011. The dividend will not be payable on any shares to be issued pursuant to the 5% stock dividend which was also declared this date. About Commerce Bancshares, Inc. Commerce Bancshares Inc. (NASDAQ: CBSH) is a $20.6 billion regional bank holding company. For more than 140 years, Commerce has been meeting the financial services needs of individuals and businesses. Commerce provides a diversified line of financial services, including business and personal banking, wealth management, financial planning, and investments through its affiliated companies. Commerce operates in the Midwest, primarily in Missouri, Kansas, Illinois, Oklahoma and Colorado with more than 360 locations and also has operating subsidiaries involved in mortgage banking, credit related insurance, venture capital and real estate activities.