Commerce Bank Completes Purchase of Boone National Savings and Loan Association Banking Assets.COLUMBIA, Mo. -- Teresa Maledy, president and market manager, Commerce Bank, N.A., Central Missouri Region, announced today the completion of Commerce Bank's purchase of the banking business and assets of Boone National Savings This article is about the economic term. For the United Kingdom government-run savings institution previously known as National Savings, see National Savings and Investments. and Loan Association. The purchase, first announced April 5, expands Commerce Bank's presence in the Central Missouri Region with Commerce now offering 16 Columbia banking locations (branches and ATMs), plus additional Loan Production Offices in Ashland and Lake of the Ozarks The Lake of the Ozarks is a large man-made reservoir created by impounding the Osage River in central Missouri in the northern part of the Ozarks. In addition, three smaller tributaries of the Osage which were also impounded include the Niangua River, the Grandglaize Creek, and . "This is an exciting day for our company, our customers, and the communities we serve," said Maledy. "We take great pride in welcoming so many new customers and team members to the Commerce Bank family. Our expanded locations, depth and breadth of product offerings, and commitment and passion to serve our customers combine to significantly enhance our position in Central Missouri." Commerce Bank signage is being unveiled today at former Boone National Savings locations, most notably the historic Main Bank at 9th and Broadway. The location will serve as the Main Banking Center for Commerce Bank's offices in Columbia and Central Missouri Region. Maledy will continue to lead Commerce Bank as president and market manager of the Central Missouri Region. Rick Kruse, former 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 Boone National Savings, will join Commerce Bank's Regional Advisory Board of Directors. "Our success today in combining the banking business of Boone and Commerce is due in great part to the hard work and commitment of all employees who remained focused and provided superior service to customers throughout this entire process," stated Maledy. "The talent and expertise of our collective banking team is unmatched. I am confident our customers will greatly benefit from our expanded service and convenience." David W. Kemper, chairman, president and CEO, 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. commented: "We are pleased to have closed on the purchase of the Boone National Savings banking business. This purchase fits well with the strategic focus for developing our footprint in Central Missouri." With the completion of the purchase agreement, Commerce Bank's total deposits for Central Missouri Region include approximately $525 million. Commerce plans an additional expansion in the Columbia market by year-end, with a full-service banking center currently under construction at Brown School Road and Highway 763. About Commerce Bank Commerce Bank is the principal subsidiary of Commerce Bancshares, 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), a $14.3 billion regional bank holding company. 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 340 locations 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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