Commerce Bancshares, Inc. Declares Cash Dividends on Common and Preferred Stock

Commerce Bancshares, Inc. CBSH announced today that its Board of Directors declared a quarterly dividend of $0.235 per share on the Company's common stock, which compares to the prior dividend of $0.214 as adjusted for the 5 percent stock dividend that was paid on December 18, 2017. This represents an increase in the quarterly dividend per share of 10% and marks the 50^th consecutive year that the Company has increased its regular cash dividend per share. The dividend is payable on March 26, 2018 to stockholders of record at the close of business on March 9, 2018.

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 CBSHP payable March 1, 2018, to stockholders of record at the close of business on February 12, 2018.

About Commerce Bancshares, Inc.

Commerce Bancshares, Inc. CBSH is a regional bank holding company with $24.8 billion in assets, as of December 31, 2017. 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 330 locations in the central United States and has a nationwide presence in the commercial payments industry.

For additional information, please visit www.commercebank.com.

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