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Commerce Bancshares
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LOS ANGELES, CA, (NAMC) - Commerce Bancshares, Inc. (NASDAQ:CBSH) has acquiredSouth Tulsa Financial Corporation, the parent company of Bank South. The merger of these two financial institutions is the latest in a trend of consolidation in the industry creating a Deja Vu situation of the early 1990's.
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KANSAS CITY, Mo.--(Business Wire)--Commerce Bancshares, Inc. (NASDAQ: CBSH) announced earnings of $.79 per share for the three months ended June 30, 2007, an increase of 1.3% compared to $.78 per share in the second quarter of 2006. Net income for the second quarter amounted to $55.6 million compared with $55.3 million in the same period last year. The return on average assets for the three months ended June 30, 2007 was 1.46%, and the return on average equity was 15.1%.
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LAKE SUCCESS, N.Y., Oct 29, 2007 /PRNewswire-FirstCall via COMTEX/ -- DealerTrack Holdings, Inc. (TRAK) today announced that Commerce Bank, N.A., a subsidiary of Commerce Bancshares, Inc. (CBSH), has signed an agreement to participate on DealerTrack's online specialty financing platform. DealerTrack is a leading provider of on-demand software and data solutions for the automotive and specialty retail industries. Once implemented, recreational vehicle (RV) and marine dealers nationwide will use the DealerTrack Specialty Solutions platform to electronically submit consumer loan applications as well as complete the loan contracts with Commerce Bank.
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Commerce Bancshares, Inc. (CBSH) announced today that its Board of Directors approved a 5 percent stock dividend payable on December 13, 2007 to shareholders of record at the close of business on November 29, 2007. For the first time, the Company will be issuing the shares in a non-certificated form. Shares issued as a result of the stock dividend will be entered by Direct Registration System on the records of the Company
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One of the outstanding regional bank holding companies, First Commerce Bancshares had an excellent reputation in Nebraska and the surrounding states. Management of the company was committed to providing its customers with high-quality, efficient banking services. And with the company's NBC/Computer Software Services riding the crest of banking technology, First Commerce Bancshares was well situated to grow larger and larger in the coming years.
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Commerce Bancshares, Inc. and South Tulsa Financial Corporation jointly announced on December 4 the execution of a merger agreement in which South Tulsa will merge with Commerce in a transaction valued at approximately $26.2 million in Commerce stock. Blackwell Sanders acted as counsel to Commerce in preparing the merger agreement. The Blackwell Sanders team included Dennis Wilbert, Mark Welker, Burt Smoliar and Greg Steinberg.
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