2007 Economic Impact Awards Banking Honoree: Commerce Bank

Commerce Bank traces its Springfield roots back to 1902, when Citizens Bank was founded on Commercial Street.

That institution became affiliated with Commerce in 1967, but it continued under the Citizens name until 1972, when Commerce Bank was born.

Though the bank has undergone numerous changes since then, Commerce Bank Chairman John Himmel likes to talk first about employees when it comes to community impact.

“We employ more than 300 people here in the Springfield region,” Himmel said. “It is a significant payroll.”

Regional Marketing Manager Jenny Stanley said that the publicly traded Commerce Bankshares Inc. (Nasdaq: CBSH) has more than 25 banking centers in the southwest Missouri region, reaching from Cassville to Lebanon and from Bolivar to Branson.

The bank strives to bring positive change to each of the communities it serves.

“All of our employees are encouraged to become highly engaged in their respective communities, neighborhoods and churches,” Himmel said. “We have a substantial involvement with the United Way of the Ozarks and with philanthropy toward nonprofit and community-service organizations, both at the employee-giving level and the corporate-giving level.”

In 2007, Commerce Bank received the 2007 Corporate Humanitarian Award from United Way of the Ozarks, based on several criteria, including commitment to posterity, corporate responsibility to the community and leadership in corporate and charitable giving.

Himmel said Commerce Bank also reaches beyond its branches with the impact it has through commercial, retail and private banking as well as asset management activities.

Check and payment processing also have been booming, Himmel added, noting that those services comprise the fastest-growing segment of corporate banking for Commerce.

“It is what our industry now calls treasury services – electronic banking,” Himmel said.

“Paper is taking less and less of a role in completing transactions. People in companies are just writing fewer checks. It is more efficient and less costly to most consumers and most companies.”

Himmel recognizes many opportunities in the Springfield region, with an abundance of students key among them.

“We are fortunate to have a lot of colleges and educational opportunities here,” Himmel said. “A lot of the college graduates that come out of this market want to stay here, and that's different from a lot of other markets like St. Louis or Columbia … where students are going to be moving out of those markets.”

Himmel also sees opportunity in community growth, and he envisions a day when Branson West and Springfield will grow together. When that growth comes, Commerce will be ready.

“We are continuing to invest a lot of capital and human resources into technology,” Himmel said. “We are continuing to expand in Springfield as well as the surrounding markets. Two years ago, we established a branch in Branson, and now we are looking to open our third location in that market. Later this year, we’ll be breaking ground on a new Springfield banking center on South National Avenue. We are looking forward to getting that out of the ground, moving into it and operating it early next year.”

Commerce Bank

Address: 1345 E. Battlefield Road, Springfield, MO 65804

Phone: (417) 869-5411

Web site: www.commercebank.com

Employees: 264

2006 Assets: Would not disclose

2006 Deposits: $742.6 million[[In-content Ad]]