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 $0.26 per share on the Company's common stock, which compares to the prior dividend of $0.224 as adjusted for the 5 percent stock dividend that was paid on December 17, 2018. This represents an increase in the quarterly dividend per share of 16% and marks the 51^st consecutive year that the Company has increased its regular cash dividend per share. The dividend is payable on March 25, 2019 to stockholders of record at the close of business on March 8, 2019.

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, 2019, to stockholders of record at the close of business on February 13, 2019.

About Commerce Bancshares, Inc.

With $25.5 billion in assets as of December 31, 2018, Commerce Bancshares, Inc. CBSH is a regional bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 150 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., the Company currently operates banking facilities in nine key markets including St. Louis, Kansas City, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City and Denver. Commerce Bank also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online and through a 24/7 customer service line. Learn more at www.commercebank.com.

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