Commerce Bancshares

Commerce was founded by Francis Reid Long with $10,000 in capital in 1865, just as communities were rebuilding after the Civil War. Originally known as the Kansas City Savings Association, it was acquired in 1881 by Dr. William Stone Woods and renamed the National Bank of Commerce, claiming at the time to be the largest bank west of Chicago. Harry Truman, the 33rd President of the United States, worked as a clerk and cashier at the bank in the early 1900s. When describing Dr. Woods, Truman once said, "There are dozens of stories about his close accounting of the nickels and pennies, but if he chose to back a man, he stayed with him through thick and thin if that man had energy and character. Dr. Woods would go on to transform the Kansas City bank into a modern financial institution.

Truman's housemate at the time was fellow Commerce employee Arthur Eisenhower, brother of future war hero and President Dwight D. Eisenhower. Arthur went on to work at Commerce for more than 50 years.The bank became Commerce Bank in 1903 with William Thornton Kemper Sr. as its first president. Kemper set up one of his sons, James M. Kemper, at Commerce and his other son, Rufus Crosby Kemper Sr., at the competing City Center Bank, which later became UMB Financial Corporation. Members of the Kemper family still play a dominant role at both banks. They also are a major force in Missouri philanthropies, with their names attached to numerous buildings throughout the state, including Kemper Arena.

In 1928, Commerce opened the nation's first 24-hour banking transit department where checks or transit items drawn from out-of-town banks could be cleared and collected. The bank was an early adopter in other ways as well. In 1955, it installed the latest moving "electric stairs" in the Walnut Lobby of its Kansas City headquarters. In that same lobby, President Bill Clinton announced his 1994 plan for welfare reform, using the occasion to recognize the bank's participation in "welfare-to-work" programs.

After World War II, Commerce Bank continued to play an important role in the Midwest's growth. It funded business growth, working with H&R Block, Sprint , and Trans World Airlines, which had its main overhaul base at Kansas City International Airport. In 1954, the Commerce Trust Company allowed Walt Disney and his wife, Lillian, to take out a $60,000 loan against Disney's life insurance policy to help fund the development of a new theme park Disney envisioned. Disneyland opened in California a year later, and by the end of its first year in operation, the park had already attracted 3.6 million guests.From the 1960s to the 1990s, Commerce grew alongside the American economy, expanding throughout Missouri, Kansas, and Illinois. In 1968, Commerce became the first bank in Missouri to enter the credit card business. In 1969, Commerce helped Ewing Kauffman, the owner of Marion Laboratories buy the Kansas City Royals. Commerce remains the Royals' bank. After a young Johnny Morris opened a bait and tackle shop in the bank of his father's liquor store in Springfield, Missouri, Commerce provided the line of credit he needed in 1974 to open a second store in a chain known today throughout North America as Bass Pro Shops. When the financial crisis caused a recession in 2008, Commerce was the country's sixth largest bank to decline financial assistance from the U.S. Treasury Department's Troubled Asset Relief Program, or TARP.Appearing regularly on Forbes' list of America's Best Banks, Commerce later added Colorado and Oklahoma to its banking footprint, with additional commercial offices throughout the Midwest and commercial payments services available in 48 states.