<SEC-DOCUMENT>0001140361-23-023117.txt : 20230505
<SEC-HEADER>0001140361-23-023117.hdr.sgml : 20230505
<ACCEPTANCE-DATETIME>20230505115916
ACCESSION NUMBER:		0001140361-23-023117
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20230505
DATE AS OF CHANGE:		20230505
EFFECTIVENESS DATE:		20230505

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMMERCE BANCSHARES INC /MO/
		CENTRAL INDEX KEY:			0000022356
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				430889454
		STATE OF INCORPORATION:			MO
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-271679
		FILM NUMBER:		23892269

	BUSINESS ADDRESS:	
		STREET 1:		1000 WALNUT
		CITY:			KANSAS CITY
		STATE:			MO
		ZIP:			64106
		BUSINESS PHONE:		8162342000

	MAIL ADDRESS:	
		STREET 1:		P O BOX 419248
		CITY:			KANSAS CITY
		STATE:			MO
		ZIP:			64141-6248
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>brhc20052130_s8.htm
<DESCRIPTION>S-8
<TEXT>
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    <div style="text-align: right; font-weight: bold;">As filed with the Securities and Exchange Commission on May 5, 2023</div>
    <div style="text-align: right; font-weight: bold;">Registration No. 333-______</div>
    <div style="text-align: right; font-weight: bold;"> <br>
    </div>
    <div style="text-align: right; font-weight: bold;">
      <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
      <div style="text-align: left;">
        <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
        <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
        <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center;">
          <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; width: 40%; color: #000000;"> </div>
        <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM S-8</div>
        <div style="text-align: center; font-weight: bold;">REGISTRATION STATEMENT</div>
        <div style="text-align: center; font-style: italic; font-weight: bold;">UNDER</div>
        <div style="text-align: center; font-style: italic; font-weight: bold;">THE SECURITIES ACT OF 1933</div>
        <div style="text-align: center; font-style: italic; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center; font-style: italic; font-weight: bold;">
          <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; width: 40%; color: #000000;"> </div>
        <div>&#160;</div>
        <div style="text-align: center; font-size: 24pt; font-weight: bold;">COMMERCE BANCSHARES, INC.</div>
        <div style="text-align: center; font-weight: bold;">(Exact name of registrant as specified in its charter)</div>
        <div> <br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="za739c42dee69426da4798d766c60d02d" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Missouri</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">43-0889454</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">(State or other jurisdiction of incorporation or</div>
                <div style="text-align: center; font-weight: bold;">organization)</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">(I.R.S. Employer</div>
                <div style="text-align: center; font-weight: bold;">Identification No.)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49%; vertical-align: middle;">&#160;</td>
              <td style="vertical-align: middle;" colspan="2">&#160;</td>
            </tr>
            <tr>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">1000 Walnut</div>
                <div style="text-align: center; font-weight: bold;">Kansas City, Missouri</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 49%; vertical-align: bottom;">
                <div style="text-align: center; font-weight: bold;">64106</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">(Address of Principal Executive Offices)</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;">&#160;</td>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">(Zip Code)</div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">Commerce Bancshares, Inc. Equity Incentive Plan</div>
        <div style="text-align: center; font-weight: bold;">(Full title of the plan)</div>
        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">
          <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; width: 40%; color: #000000;"> </div>
        <div>&#160;</div>
        <div style="text-align: center; font-weight: bold;">Paul A. Steiner</div>
        <div style="text-align: center; font-weight: bold;">Controller</div>
        <div style="text-align: center; font-weight: bold;">1000 Walnut</div>
        <div style="text-align: center; font-weight: bold;">Kansas City, Missouri 64106</div>
        <div style="text-align: center; font-weight: bold;">(Name and address of agent for service)</div>
        <div> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">(816) 234-2000</div>
        <div style="text-align: center; font-weight: bold;">(Telephone number, including area code, of agent for service)</div>
        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">
          <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; width: 40%; color: #000000;"> </div>
        <div><br>
        </div>
        <div style="text-align: center;"><font style="color: rgb(0, 0, 0); font-weight: normal;">Copies</font><font style="font-weight: normal;"> to:</font></div>
        <div>
          <div style="text-align: center; color: rgb(0, 0, 0); font-weight: normal;">Margaret Rowe</div>
          <div style="text-align: center; color: rgb(0, 0, 0); font-weight: normal;">Commerce Bancshares, Inc.</div>
          <div style="text-align: center; color: rgb(0, 0, 0); font-weight: normal;">1000 Walnut</div>
          <div style="text-align: center; color: rgb(0, 0, 0); font-weight: normal;">Kansas City, Missouri 64106</div>
        </div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: normal;">(816) 234-2000</div>
        <div style="font-weight: normal;"><br>
        </div>
        <div style="font-weight: normal;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of &#8220;large
          accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act. </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" border="0" id="zfe91bf3fee784ed9a812dd9b4c99e706" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 5%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 45%; vertical-align: top;">
                <div>Large accelerated filer&#160; &#9746;</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div>Accelerated filer&#160; &#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 45%; vertical-align: top;">
                <div>Non-accelerated filer&#160; &#9744;</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div>Smaller reporting company&#160; &#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 5%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 45%; vertical-align: top;">&#160;</td>
              <td style="width: 50%; vertical-align: top;">
                <div>Emerging growth company&#160; &#9744;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="font-weight: normal;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
          to Section 7(a)(2)(B) of the Securities Act.&#160; &#9744;</div>
        <br>
        <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: center; font-weight: bold;">EXPLANATORY NOTE</div>
        <div><br>
        </div>
        <div style="text-align: justify; text-indent: 27pt;"><font style="font-weight: normal;"><u>Incorporation by Reference</u>.&#160; This Registration Statement is filed pursuant to General Instruction E to Form S-8.&#160; The contents of the Registration
            Statements on Form S-8 (File No. 333-186867 and 333-188374) are incorporated herein by reference and made a part hereof.</font></div>
        <div style="font-weight: normal;"><br>
        </div>
        <div style="text-align: justify; text-indent: 27pt;"><font style="font-weight: normal;"><u>Registration of Additional Shares of Common Stock Under the Plans</u>.&#160; This Registration Statement on Form S-8 is filed by the Commerce Bancshares, Inc., a
            Missouri corporation (the &#8220;Company&#8221; or &#8220;Registrant&#8221;), to register an additional 4,686,671 shares of Common Stock, par value $5.00 per share, of the Company.&#160; These additional registered shares of Common Stock may be awarded under the Equity
            Incentive Plan pursuant to the amendment and restatement of such plan authorized by the Board of Directors of the Company and approved by shareholders on April 19, 2023.</font></div>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">PART II</div>
        <div> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z270e5c60971c45c496266d8b1217e112" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 45pt; vertical-align: top; font-weight: bold;">ITEM 3.</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-weight: bold;">INCORPORATION OF DOCUMENTS BY REFERENCE.</div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
        <div style="text-align: justify; font-weight: normal; text-indent: 27pt;">The Company incorporates by reference in this Registration Statement the following:</div>
        <div style="text-align: justify;"> <br>
        </div>
        <div>
          <div>
            <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;" id="z7404b403a8a04241839935c5c76400ce" class="DSPFListTable">

                <tr style="vertical-align: top;">
                  <td style="width: 18pt;">&#160;</td>
                  <td style="vertical-align: top; width: 27pt;">
                    <div><font style="font-weight: normal;">(i)</font></div>
                  </td>
                  <td style="align: left; vertical-align: top; width: auto;">
                    <div style="text-align: justify;"><font style="font-weight: normal;">the Company&#8217;s Annual Report on Form <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/22356/000002235623000017/cbsh-20221231.htm">10-K</a> for the fiscal year
                        ended December 31, 2022&#160;filed with the Securities and Exchange ("SEC") Commission on February 22, 2023, and the Company's Quarterly Report on Form <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/22356/000002235623000037/cbsh-20230331.htm">10-Q</a> for the quarter ended March 31, 2023, filed with the SEC on May 4, 2023;<br>
                      </font></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div> <font style="font-weight: normal;"><br>
          </font></div>
        <div style="font-weight: normal;">
          <div>
            <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;" id="z51a0d3a6243949d090f90a37bc536be2" class="DSPFListTable">

                <tr style="vertical-align: top;">
                  <td style="width: 18pt;">&#160;</td>
                  <td style="vertical-align: top; width: 27pt;">
                    <div>(ii)</div>
                  </td>
                  <td style="align: left; vertical-align: top; width: auto;">
                    <div style="text-align: justify;">the Company&#8217;s Current Reports on Form 8-K filed on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/22356/000002235623000004/cbsh-20230201.htm">February 7, 2023</a> and <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/22356/000002235623000034/cbsh-20230419.htm">April 25, 2023</a> (in each case, excluding any portions of the current reports, exhibits thereto or information therein that are
                      &#8220;furnished&#8221; to the SEC);</div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div> <font style="font-weight: normal;"><br>
          </font></div>
        <div>
          <div>
            <table cellspacing="0" cellpadding="0" style="width: 100%; font-family: 'Times New Roman'; font-size: 10pt;" id="z6ebea2fe64dd4aeab25080e42cacf599" class="DSPFListTable">

                <tr style="vertical-align: top;">
                  <td style="width: 18pt;">&#160;</td>
                  <td style="vertical-align: top; width: 27pt;">
                    <div><font style="font-weight: normal;">(iii)</font></div>
                  </td>
                  <td style="align: left; vertical-align: top; width: auto;">
                    <div style="text-align: justify;"><font style="font-weight: normal;">the description of the Company&#8217;s common stock, $5.00 par value per share, contained in the Company&#8217;s Registration Statement filed pursuant to Section 12 of the
                        Exchange Act and any amendments or reports filed for the purpose of updating that description.</font></div>
                  </td>
                </tr>

            </table>
          </div>
        </div>
        <div style="text-align: justify;"> <br>
        </div>
        <div style="text-align: justify;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: normal;">All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the date of the filing hereof and prior to the
            filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold <font style="color: rgb(0, 0, 0);">(other than, in each case, documents or information
              deemed to have been furnished and not filed in accordance with SEC rules)</font>, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.</font></div>
        <div style="font-weight: normal;"><br>
        </div>
        <div style="text-align: justify; font-weight: normal; text-indent: 27pt;">Any statement contained in a document incorporated, or deemed to be incorporated, by reference herein shall be deemed to be modified or superseded for purposes of this
          Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement.&#160; Any statement so modified
          or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" id="z23cc46137f9443e6bc3784d1b6047c88" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 45pt; vertical-align: top; font-weight: bold;">ITEM 8.</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-weight: bold;">EXHIBITS.</div>
              </td>
            </tr>

        </table>
        &#160;
        <div>
          <table cellspacing="0" cellpadding="0" border="0" id="za88bc3567b474d44b7c972d1e66efd02" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
                <td style="width: 10%; vertical-align: top;">
                  <div style="font-weight: bold;"><u>Exhibit No.</u></div>
                </td>
                <td style="width: 85%; vertical-align: top;">
                  <div style="font-weight: bold;"><u>Description</u></div>
                </td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 10%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 85%; vertical-align: top;" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;"><a href="brhc20052130_ex5-1.htm">5.1*</a></div>
                </td>
                <td style="width: 85%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div style="text-align: justify;">Opinion of Husch Blackwell LLP, regarding the legality of the securities to be offered hereby.</div>
                </td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 10%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 85%; vertical-align: top;" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div><a href="brhc20052130_ex23-1.htm">23.1*</a></div>
                </td>
                <td style="width: 85%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Consent of Independent Registered Public Accounting Firm.</div>
                </td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 10%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 85%; vertical-align: top;" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div><a href="brhc20052130_ex5-1.htm">23.2*</a></div>
                </td>
                <td style="width: 85%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Consent of Husch Blackwell LLP (included in Exhibit 5.1).</div>
                </td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 10%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 85%; vertical-align: top;" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div><a href="#POWEROFATTORNEY">24.1*</a></div>
                </td>
                <td style="width: 85%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Power of Attorney (included in signature page of Registration Statement).</div>
                </td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 10%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 85%; vertical-align: top;" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div><a href="https://www.sec.gov/Archives/edgar/data/22356/000002235623000034/commercebancsharesincequit.htm">99.1</a></div>
                </td>
                <td style="width: 85%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Commerce Bancshares, Inc. Equity Incentive Plan amended and restated as of April 19, 2023. (Incorporated by reference from the Company&#8217;s Current Report on Form 8-K, filed on April 25, 2023.)</div>
                </td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 10%; vertical-align: top;" rowspan="1">&#160;</td>
                <td style="width: 85%; vertical-align: top;" rowspan="1">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" style="width: 5%; vertical-align: top; background-color: rgb(204, 238, 255);">&#160;</td>
                <td style="width: 10%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div><a href="brhc20052130_ex107.htm">107*</a></div>
                </td>
                <td style="width: 85%; vertical-align: top; background-color: rgb(204, 238, 255);">
                  <div>Filing Fee Table.</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
        </div>
        <div>
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                  <div style="font-weight: normal;">*</div>
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                  <div style="font-weight: normal;">Filed herewith.</div>
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            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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        <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
        <div> <br>
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        <div style="text-align: justify; text-indent: 27pt; font-weight: normal;">Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on
          Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Kansas City, State of Missouri, on May 5, 2023.</div>
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            <tr>
              <td style="width: 50.4%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="vertical-align: top;" colspan="2">
                <div style="font-weight: bold;">Commerce Bancshares, Inc.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50.4%; vertical-align: middle;" colspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: middle;">&#160;</td>
              <td style="vertical-align: middle; width: 47%;">&#160;</td>
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            <tr>
              <td style="width: 50.4%; vertical-align: top;" colspan="1">&#160;</td>
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                <div>By:</div>
              </td>
              <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="margin-left: 9pt;">/s/ Margaret M. Rowe</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50.4%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
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                <div style="margin-left: 9pt;">Margaret M. Rowe</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50.4%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: top;">&#160;</td>
              <td style="width: 47%; vertical-align: bottom;">
                <div style="margin-left: 9pt;">Vice President &amp; Secretary</div>
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        &#160;
        <div style="text-align: center; font-weight: bold;"><a name="POWEROFATTORNEY"><!--Anchor--></a>POWER OF ATTORNEY</div>
        <div>&#160;</div>
        <div style="text-align: justify;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: normal;">&#160;KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Margaret M. Rowe and Paul A. Steiner&#160;or any of them, severally,
            as his or her attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place, and stead, in any and all capacities, to sign any and all amendments (including post-effective
            amendments) to this registration statement, and to file the same with all exhibits hereto, and all other documents in connection herewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent, and any of
            them, full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and
            confirming all that said attorneys-in-fact and agents, or any of them, or their or his or her substitutes, may lawfully do or cause to be done by virtue hereof.</font></div>
        <div><font style="font-weight: normal;"> <br>
          </font></div>
        <div style="text-align: justify; font-weight: normal; text-indent: 27pt;">Pursuant to the requirements of the Securities Act, this registration statement has been signed by the following persons in the capacities indicated on May 5, 2023.</div>
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              <td style="width: 50%; vertical-align: top;">
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            <tr>
              <td style="width: 50%; vertical-align: middle;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ John W. Kemper</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">President,</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">John W. Kemper</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Chief Executive Officer and Director</div>
                <div style="text-align: center;">(Principal Executive Officer)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ Charles G. Kim</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Charles G. Kim</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Chief Financial Officer</div>
                <div style="text-align: center;">(Principal Financial Officer)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ Paul A. Steiner</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Paul A. Steiner</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Controller</div>
                <div style="text-align: center;">(Principal Accounting Officer)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ David W. Kemper</div>
              </td>
              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">David W. Kemper</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ Terry D. Bassham</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Terry D. Bassham</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ Blackford F. Brauer</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Blackford F. Brauer</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ Earl H. Devanny, III</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Earl H. Devanny, III</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ W. Kyle Chapman</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">W. Kyle Chapman</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>/s/ Karen L. Daniel</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Karen L. Daniel</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Director</div>
              </td>
            </tr>

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              <td style="width: 50%; vertical-align: middle;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
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            <tr>
              <td style="width: 50%; vertical-align: middle; border-bottom: 2px solid black;" rowspan="1">/s/ Jonathan M. Kemper</td>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid black;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Jonathan M. Kemper</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ June McAllister Fowler</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">June McAllister Fowler</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ Benjamin F. Rassieur, III</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Benjamin F. Rassieur, III</div>
              </td>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center;">Director</div>
              </td>
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            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
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              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Todd R. Schnuck</div>
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                <div style="text-align: center;">Director</div>
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            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
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            <tr>
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            <tr>
              <td style="width: 50%; vertical-align: top;">
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                <div style="text-align: center;">Director</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 50%; vertical-align: top;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: justify;">/s/ Kimberly G. Walker</div>
              </td>
              <td style="width: 50%; vertical-align: top;">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: top;">
                <div style="text-align: center; font-weight: bold;">Kimberly G. Walker</div>
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                <div style="text-align: center;">Director</div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>brhc20052130_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<html>
  <head>
    <title></title>
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
    <div>
      <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 5.1</font><br>
      </div>
      <div style="text-align: center;"><br>
      </div>
      <div style="text-align: center;"><img src="image00001.jpg"></div>
      <div>&#160;</div>
      <div style="text-align: center;">May 5, 2023</div>
      <div><br>
      </div>
      <div>Commerce Bancshares, Inc.</div>
      <div>1000 Walnut</div>
      <div>Kansas City, MO 64106</div>
      <div> <br>
      </div>
      <div style="margin-left: 18pt;">
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za2e2f7e7ae934dd1ad7a11d9ff8228c6">

            <tr>
              <td style="width: 5.11%; vertical-align: top;">
                <div style="font-weight: bold;">Re:</div>
              </td>
              <td style="width: 94.78%; vertical-align: top;">
                <div style="font-weight: bold;">Commerce Bancshares, Inc. Registration Statement on Form S-8</div>
              </td>
            </tr>

        </table>
      </div>
      <div>&#160;</div>
      <div>Ladies and Gentlemen:</div>
      <div><br>
      </div>
      <div style="text-align: justify;">We have acted as counsel for Commerce Bancshares, Inc., a Missouri corporation (the &#8220;<u>Company</u>&#8221;), in connection with the preparation of the Registration Statement on Form S-8 (the &#8220;<u>Registration Statement</u>&#8221;)






        being filed by the Company concurrently herewith with the Securities and Exchange Commission.&#160; The Registration Statement relates to the registration under the Securities Act of 1933, as amended (the &#8220;<u>Act</u>&#8221;), of 4,686,671 additional shares
        (the &#8220;<u>Shares</u>&#8221;) of the Company&#8217;s common stock, par value $5.00 per share (the &#8220;<u>Common Stock</u>&#8221;), reserved for issuance pursuant to amended and restated Commerce Bancshares, Inc. Equity Incentive Plan (the &#8220;<u>Plan</u>&#8221;).&#160; This opinion is
        being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Act.</div>
      <div>&#160;</div>
      <div style="text-align: justify;">As counsel, we have reviewed a Good Standing Certificate with respect to the Company issued by the Secretary of State of Missouri dated as of a recent date.&#160; We have also reviewed the organizational documents of the
        Company, including (i) the Second Restated Certificate of Incorporation of the Company (the &#8220;<u>Certificate of Incorporation</u>&#8221;), (ii) the By-Laws of the Company, as amended to the date hereof (the &#8220;<u>By-Laws</u>&#8221;).&#160; We have also examined copies
        of (i) resolutions certified by the Secretary of the Company and adopted at a meeting of the Board of Directors of the Company held on February 3, 2023; and (ii) the duly certified results of the vote by the stockholders of the Company approving
        the adoption of the Plan at the Company&#8217;s Annual Meeting of Stockholders held on April 19, 2023.&#160; We have relied, as to these and other factual matters which affect our opinion, on the Certificate of the Secretary of the Company dated as of May 5,
        2023.</div>
      <div>&#160;</div>
      <div style="text-align: justify;">We have assumed the genuineness of all signatures and the authenticity of all items submitted to us as originals and the conformity with the originals of all items submitted to us as copies.&#160; We have further assumed
        that each award agreement setting forth the terms of each award granted pursuant to the Plan has been or will be duly authorized and validly executed and delivered by the parties thereto.</div>
      <div>&#160;</div>
      <div style="text-align: justify;">Based upon the foregoing and subject to the qualifications and limitations stated herein, we are of the opinion that, when the Registration Statement has become effective under the Act and the Shares have been issued
        and delivered upon payment therefor (in an aggregate amount or having an aggregate value equal to or greater than the aggregate par value of such Shares) in accordance with the Plan and any applicable award agreement, the Shares will be duly
        authorized, legally and validly issued, fully paid and non-assessable shares of capital stock of the Company.</div>
      <div>&#160;</div>
      <div style="text-align: justify;">This opinion is limited to matters governed by the General and Business Corporation Law of Missouri.&#160; We express no opinion as to either the applicability or effect of the laws of any other jurisdiction.&#160; This
        opinion letter is limited to the matters expressly stated herein and no opinion is to be inferred or implied beyond the opinion expressly set forth herein.&#160; This opinion letter is rendered as of the date hereof, and we undertake no, and hereby
        disclaim, any obligation to make any inquiry after the date hereof or to advise you of any facts, circumstances, events or developments that hereafter may be brought to our attention and that may alter, affect or modify the opinions expressed
        herein.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: center;"> <img src="image00001.jpg">
        <div><br>
        </div>
        <div>
          <div style="text-align: left;">Commerce Bancshares, Inc.</div>
          <div style="text-align: left;">May 5, 2023</div>
        </div>
      </div>
      <div style="text-align: justify;"> <br>
      </div>
      <div style="text-align: justify;">We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement.&#160; In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required
        under Section 7 of the Act, or under the rules and regulations of the Securities and Exchange Commission relating thereto.</div>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zf851cf9cac324211b3d9e272f31ca2b8">

          <tr>
            <td colspan="1" style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="2" style="vertical-align: top;">
              <div>Very truly yours,</div>
            </td>
          </tr>
          <tr>
            <td colspan="1" style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="2" style="vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td colspan="1" style="width: 50%; vertical-align: top; padding-bottom: 2px;"><br>
            </td>
            <td style="width: 35%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/ Husch Blackwell LLP</div>
            </td>
            <td style="width: 15%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td colspan="1" style="width: 50%; vertical-align: top;"><br>
            </td>
            <td colspan="2" style="vertical-align: top;">
              <div style="font-weight: bold;">HUSCH BLACKWELL LLP</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <br>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>brhc20052130_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solutions, Inc.
         Document created using Broadridge PROfile 23.3.2.5148
         Copyright 1995 - 2023 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 23.1</font><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div>
    <div style="text-align: center; font-weight: bold;">Consent of Independent Registered Public Accounting Firm</div>
    <div>&#160;</div>
    <div>We consent to the use of our report dated February 22, 2023, with respect to the consolidated financial statements of Commerce Bancshares, Inc. and subsidiaries, and the
      effectiveness of internal control over financial reporting, incorporated herein by reference.</div>
    <div>&#160;</div>
    <div>/s/ KPMG LLP</div>
    <div>&#160;</div>
    <div>Kansas City, Missouri</div>
    <div>May 5, 2023</div>
    <div>&#160;</div>
    <div><br>
    </div>
  </div>
  <div>
    <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>4
<FILENAME>brhc20052130_ex107.htm
<DESCRIPTION>EXHIBIT 107
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solutions, Inc.
         Document created using Broadridge PROfile 23.3.2.5148
         Copyright 1995 - 2023 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
    <div>
      <div style="text-align: right; font-weight: bold;">Exhibit 107</div>
      <div>&#160;<br>
      </div>
      <div style="text-align: center; font-weight: bold;">Calculation of Filing Fees Table</div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">FORM S-8</div>
      <div style="text-align: center; margin-right: 0.8pt;">(Form Type)</div>
      <div><br>
      </div>
      <div style="text-align: center; margin-right: 0.8pt; font-weight: bold;">Commerce Bancshares, Inc.</div>
      <div style="text-align: center; margin-right: 0.8pt;">(Exact Name of Registrant as Specified in its Charter)</div>
      <div><br>
      </div>
      <div style="text-align: center; margin-right: 0.8pt;"><u>Table 1: Newly Registered Securities</u></div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="z12ba4694772045bcb07827a3e6f8683d" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 14%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Security Type</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 13%; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px;">
              <div style="text-align: center; font-weight: bold;">Security </div>
              <div style="text-align: center; font-weight: bold;">Class Title</div>
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            <td valign="bottom" style="vertical-align: bottom; width: 13%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Fee </div>
              <div style="text-align: center; font-weight: bold;">Calculation </div>
              <div style="text-align: center; font-weight: bold;">Rule</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Amount </div>
              <div style="text-align: center; font-weight: bold;">Registered<br>
                (1)(2)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Proposed </div>
              <div style="text-align: center; font-weight: bold;">Maximum</div>
              <div style="text-align: center; font-weight: bold;"> Offering</div>
              <div style="text-align: center; font-weight: bold;">Price Per </div>
              <div style="text-align: center; font-weight: bold;">Share</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Maximum </div>
              <div style="text-align: center; font-weight: bold;">Aggregate </div>
              <div style="text-align: center; font-weight: bold;">Offering Price</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Fee Rate</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Amount of Registration<br>
                Fee</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; width: 14%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">Equity</div>
            </td>
            <td valign="bottom" style="vertical-align: top; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
              <div>Common Stock, par value $5.00 per share</div>
            </td>
            <td valign="bottom" style="vertical-align: top; width: 13%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">457(c) and 457(h)(2)</div>
            </td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td class="cftnumcell" colspan="1" style="vertical-align: top; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>4,686,671</div>
            </td>
            <td nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: right; vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td class="cftguttercell" colspan="1" style="vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); text-align: right;">&#160;</td>
            <td class="cftcurrcell" colspan="1" style="text-align: right; vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td class="cftnumcell" colspan="1" style="vertical-align: top; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>55.48</div>
            </td>
            <td nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: right; vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(3)</div>
            </td>
            <td class="cftguttercell" colspan="1" style="vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); text-align: right;">&#160;</td>
            <td class="cftcurrcell" colspan="1" style="text-align: right; vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td class="cftnumcell" colspan="1" style="vertical-align: top; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>
                <div>260,016,507.08</div>
              </div>
            </td>
            <td nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: right; vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td class="cftguttercell" colspan="1" style="vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); text-align: right;">&#160;</td>
            <td class="cftcurrcell" colspan="1" style="text-align: right; vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td class="cftnumcell" colspan="1" style="vertical-align: top; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>0.00011020</div>
            </td>
            <td nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: right; vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td class="cftguttercell" colspan="1" style="vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); text-align: right;">&#160;</td>
            <td class="cftcurrcell" colspan="1" style="text-align: right; vertical-align: top; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td class="cftnumcell" colspan="1" style="vertical-align: top; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>
                <div>28,653.82</div>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="6" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">Total Offering Amounts</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>
                <div>260,016,507.08</div>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>28,653.82</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="6" style="vertical-align: top; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">Total Fees Previously Paid</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; background-color: rgb(204, 238, 255); width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>--</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255); width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="6" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">Total Fee Offsets</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div>$</div>
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              <div>28,653.82</div>
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          <div>1. Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), this Registration Statement shall also be deemed to register and cover any additional shares of Common Stock that may be issued under the
            Commerce Bancshares, Inc. Equity Incentive Plan (the &#8220;Equity Plan&#8221;) pursuant to the anti-dilution provisions of such plan as the result of any stock split, stock dividend or similar transaction, and such lesser amount of shares of Common Stock
            that may be issued under the Equity Plan as a result of any reverse stock split, stock combination or similar transaction.</div>
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          <div>2. Represents shares of the Registrant&#8217;s Common Stock issuable under the Equity Plan that have not previously been registered.</div>
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          <div>3. Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h) and (c) under the Securities Act of 1933 and based upon the average of the high and low sales prices of a share of the Common Stock of Commerce
            Bancshares, Inc. as reported by Nasdaq on May 1, 2023.</div>
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