Commerce Bancshares, Inc. Announces Completion of Merger with South Tulsa Financial Corp.KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo. & TULSA, Okla. -- Commerce Bancshares This article is about the bank headquartered in Kansas City, Missouri. For other uses, see Commerce Bank. Commerce Bancshares (NASDAQ: CBSH) is a Kansas City, Missouri based bank with branches in Kansas, Missouri, Illinois, and Oklahoma. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CBSH) announced today that the shareholders of South Tulsa Financial Corporation, parent company of Bank South, have approved the merger of South Tulsa with Commerce. The transaction is valued at approximately $27.3 million in Commerce Bancshares stock. Commerce's acquisition of Bank South adds approximately $129 million in assets, $114 million in gross loans and $105 million in total deposits. The transaction also adds two full-service banking centers to Commerce Bank's growing network, its first banking locations in the state of Oklahoma. Commerce Bancshares, Inc. is a $15.2 billion bank holding company headquartered in Missouri. Commerce Bank, the principal subsidiary of Commerce Bancshares, Inc., has approximately 360 locations in the Midwest, primarily in Missouri, Illinois, and Kansas. David W. Kemper, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Commerce Bancshares, Inc., commented, "We are excited about the opportunities offered as a result of this merger. Soon customers of Bank South will benefit by having access to a full range of products and services, including Online Banking, Money Management, International, Trust, Brokerage, and Mortgage." It will be business and banking as usual for Bank South customers until the systems are converted in early May. "Bank South and Commerce understand the importance of community and relationships," said R. Carl Hudgins, president and chief executive officer of Bank South. "By joining the Commerce family, our current management team will be able to offer our customers more products, more banking solutions and more convenience than ever before." Commerce and Bank South announced their intention to merge in December 2006. About Commerce Bancshares, Inc. Commerce Bancshares, Inc. (NASDAQ:CBSH) is a $15.2 billion regional bank holding company headquartered in Missouri. For more than 140 years, Commerce has been meeting the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. needs of individuals and businesses. Commerce provides a diversified line of financial services, including business and personal banking, wealth management and estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the and investments through its affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. . Commerce currently operates in approximately 360 locations in the Midwest, primarily in Missouri, Illinois and Kansas. Commerce also has operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. involved in mortgage banking, credit related insurance, venture capital and real estate activities. For additional information, please visit www.commercebank.com or email mymoney@commercebank.com. |
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