Commerce Bancshares (CBSH) remains well-poised for growth driven by a solid balance sheet, decent loan demand and high rates. However, worsening asset quality and a rising expense base are woes.
Commerce Bancshares (CBSH) announces a strategic balance sheet repositioning, which will drive its NII higher. This follows the acceptance of a share exchange deal with Visa.
KANSAS CITY, Mo., May 08, 2024--Commerce Bancshares, Inc. (NASDAQ: CBSH) announced today that Visa Inc. has accepted the company’s tender of its 823,447 shares of Visa Class B-1 common stock in exchange for a combination of Visa Class B-2 common stock and Visa Class C common stock.