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Community National Bank to Buy Commerce Bank in Independence, KS.

CHANUTE, Kan. -- Community National Bank (CNB), a $480 million banking institution with 22 banking facilities in 18 communities through Southeast and South Central Kansas, announced today that it has entered into an agreement with Commerce Bank N.A. (NASDAQ: CBSH) to acquire the Commerce Bank locations and ATMs in Independence, Kansas. It is anticipated that the transfer of the purchased assets and deposits (subject to regulatory approval) will take place in second quarter 2008.

"Community National is extremely pleased about this opportunity to extend our presence in Southeast Kansas," said Daniel L. Mildfelt, president and CEO of Community National Bank. "Independence is an exceptional community that we look forward to serving, and it's also strategically a great fit for Community National in Montgomery County." Dr. Phil Eastep, chairman of the board of CNB, added, "CNB's present customers and Banking Centers throughout the region will benefit tremendously from the strengths, reputation and success that Commerce Bank and its talented officers and employees have offered the Independence community for many years."

Community National Bank has a long-standing presence in Montgomery County, Kansas, led by Chuck Goad, president of CNB, Montgomery County, and Dr. Phil Eastep, CNB chairman of the board.

About Community National Bank

Community National Bank is a locally owned, $480 million banking institution with 22 banking facilities in 18 communities through Southeast and South Central Kansas. Kansas Banking Centers are located in Chanute, Humboldt, Girard, Frontenac, El Dorado, Pittsburg, Edna, Cherryvale, Neodesha, Parsons, Burns, Fredonia, Iola, Caney Coffeyville, Eureka, Benton and Winfield.

For additional information, please visit

About Commerce Bancshares, Inc.

Commerce Bancshares, Inc. (NASDAQ: CBSH) is a $16 billion regional bank holding company. For more than 140 years, Commerce has been meeting the financial services needs of individuals and businesses throughout the Midwest region. Commerce provides a diversified line of financial services, including business and personal banking, wealth management and estate planning, and investments through its affiliated companies. Commerce maintains nearly 360 locations in the Midwest and also has operating subsidiaries involved in mortgage banking, leasing, credit related insurance, venture capital and real estate activities.

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Publication:Business Wire
Date:Jan 11, 2008
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