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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 5:54 AM

Slide #232. 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 is a bank holding company. Through Commerce Bank (the Bank), Co. is engages in general banking business, providing a range of retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses. Co. also owns, directly or through the Bank, various non-banking subsidiaries. Their activities include private equity investment, securities brokerage, insurance agency, and leasing activities. Co. is managed in three operating segments: Consumer, Commercial, and Wealth. As of Dec 31 2016, Co. had total assets of $25.64 billion and total deposits of $21.10 billion.

Preferred: CBSHP

Open the CBSH Page at Ru Back Packer »

Name: Commerce Bancshares Inc
Sector: Banking & Savings
Number of ETFs Holding CBSH: 66 (see which ones)
Total Market Value Held by ETFs: $977,598,922
Total Market Capitalization: $6,280,000,000
% of Market Cap. Held by ETFs: 15.57%

Open the CBSH Page at Ru Back Packer (in a new window) »

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