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Hold (2.00 out of 4)
100th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wednesday, December 10, 2:45 AM
Slide #476. Commerce Bancshares, Inc. — Preferred Stock Offering
| Company: |
Commerce Bancshares, Inc. (NASDAQ:CBSH) |
| Date announced: |
6/12/2014 |
| Shares Offered: |
6,000,000 |
| Price Per Share: |
$25 |
| Preferred Stock Offering Details: |
Commerce Bancshares, Inc. (NASDAQ:CBSH) ("Commerce") today announced the pricing of a public offering of 6,000,000 depositary shares, each representing a 1/1000th interest in its 6.00% Series B non-cumulative perpetual preferred stock, which qualifies as Tier 1 capital. Purchasers of depositary shares will be entitled to all proportional rights and preferences of the Preferred Stock (including dividend, voting, redemption and liquidation rights). The Series B preferred stock has a liquidation preference of $25,000 per share (equivalent to $25.00 per depositary share), or $150 million in the aggregate. The offering is expected to close on June 19, 2014, subject to customary closing conditions. |
Commerce Bancshares, Inc. is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in the general banking business, providing a range of retail, mortgage banking, corporate, investment, trust, and asset management products and services. It operates over 257 locations in Missouri, Kansas, Illinois, Oklahoma and Colorado. Co.'s segments include Commercial, Consumer and Wealth. The Commercial segment offers corporate lending, merchant and commercial bank card products, payment solutions, leasing, and international services, as well as business and government deposit, investment, institutional brokerage and others. Preferred: CBSHP
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