What Is the History of Commerce Bank?


Quick Answer

Commerce Bank was founded in Kansas City, Missouri, in 1865 by Francis Reid. Originally, it was called the Kansas City Savings Association, then it became the National Bank of Commerce and finally Commerce Bank. It is a diversified financial services provider for business and personal banking, offering online banking, lending, payment processing and capital markets services, among other services, notes Commerce Bank.

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What Is the History of Commerce Bank?
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Full Answer

In 1928, the bank created the first 24-hour transit department in the United States. This innovation helped speed up the transit of checks between banks, according to the company. In 1984, it introduced another innovation: Special Connections, which is somewhat of a hybrid card, a credit card-type of card merged with the features of an ATM card. In 2015, Commerce Bank Special Connections Visa and MasterCard in various flavors are being issued to qualified consumers who apply for them, states Commerce Bank.

Through the years, the bank has made various lists. It is a subsidiary of Commerce Bancshares, and that holding company was ranked fourth in the $5 billion to $50 billion asset category of the 2012 "Bank Director" magazine's Bank Performance Scorecard. The bank itself made the 2011 KBW Bank Honor Roll for achieving positive earnings per share growth from 2000 to 2010, despite the economy.

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