COMMERCE BANK Profile
Commerce Bank is a group of financial services businesses operating within the United States. The various companies operating within this group company includes Commerce Bancshares, Commerce Bank & Trust Company, and the subsequent Commerce Bank & Trust Holding Company, Commerce National Bank, and Michigan Commerce Bank, among others. The company can trace its history back to 1865 when the Kansas City Savings Association was established by Francis Reid Long. The company would grow quickly from its inception and become the largest bank west of Chicago by 1890. The bank was then known as the National Bank of Commerce and was known as an innovator in the industry, establishing the first 24-hour transit department within the U.S. to speed up check transits in between banks. The company would also introduce the first full scale International Department in the 1960s and Special Connections, the first hybrid card on the market to be able to offer both credit card and ATM card functions, in 1984. The company would then be known as Commerce Bank, National Association until it decided to shorten its name to simply Commerce Bank in 2011. The company has continued to grow through both organic means and acquisitions since then and has been a widely recognized success. Commerce Bank has been one of the top 10 banks on the Forbes list of America’s Best Banks for the past four years and is currently number six on ABA Banking Journal magazine's list of Top Performing Big Banks with total assets of $10 billion or more. The bank currently has locations in Missouri, Kansas, Illinois, Oklahoma, and Colorado and operates as a subsidiary of CBI-Kansas Inc. Commerce Bank invests most heavily in the finance sector, which alone makes up over 40% of its total asset allocations, and also invests in a variety of other sectors including technology, services, health care, consumer noncyclical, and energy, among others to a lesser degree, in order of decreasing allocation.