Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that its Board of Directors declared a quarterly dividend of $0.225 per share on the Company's common stock, which compares to the regular prior dividend of $0.214 as adjusted for the 5 percent stock dividend that was paid on December 19, 2016. This represents an increase in the quarterly dividend per share of 5% and marks the 49 th consecutive year that the Company has increased its regular cash dividend per share. The dividend is payable on March 27, 2017 to stockholders of record at the close of business on March 10, 2017.

The Board of Directors also declared a quarterly dividend of $0.375 per depositary share on the Company's Series B non-cumulative perpetual preferred stock (NASDAQ: CBSHP) payable March 1, 2017, to stockholders of record at the close of business on February 10, 2017.

About Commerce Bancshares, Inc.

Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional bank holding company with $25.6 billion in assets, as of December 31, 2016. For more than 150 years, Commerce Bank, a subsidiary of Commerce Bancshares, Inc., has been meeting the financial services needs of individuals and businesses. Commerce provides a full range of financial products to consumer and commercial customers, including personal banking, lending, mortgage banking, wealth management, brokerage and capital markets services. Commerce operates in approximately 340 locations in the central United States and has a nationwide presence in the commercial payments industry. Commerce Bancshares also has operating subsidiaries involved in leasing, credit-related insurance and private equity activities.

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