---
schema_version: "secwatch.filing_event.v1"
accession: "0000022356-26-000137"
form_type: "8-K"
ticker: "CBSH"
cik: "0000022356"
company_name: "COMMERCE BANCSHARES INC /MO/"
filed_at: "2026-05-12T20:36:45+00:00"
generated_at: "2026-05-12T20:38:37.686386+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.88
calibrated_materiality_score: 0.88
confidence: "high"
source: SEC EDGAR
---

# Commerce Bancshares gains $99M on Visa exchange; plans $911M bond repositioning with ~$95M loss

## Summary
- Visa accepted Commerce Bancshares' tender of 411,723 Visa Class B-2 shares; company records $99M pre-tax gain on Visa Class C mark-to-market.
- Company to sell ~$911M of low-yield (2.5%) available-for-sale debt securities, expecting ~$95M pre-tax loss.
- Proceeds from sale to be reinvested into assets yielding ~4.0%, targeting increased net interest income and reduced volatility.
- Cumulative impact of Visa gain and securities repositioning expected to be approximately neutral to Common Equity Tier 1 ratio.

## SEC filing metadata
- accession: 0000022356-26-000137
- form_type: 8-K
- ticker: CBSH
- cik: 0000022356
- company_name: COMMERCE BANCSHARES INC /MO/
- filed_at: 2026-05-12T20:36:45+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.88
- calibrated_materiality_score: 0.88
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/22356/000002235626000137/0000022356-26-000137-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/22356/000002235626000137/cbsh-20260512.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000022356-26-000137
- JSON: https://secwatch.observer/filing/0000022356-26-000137.json
- Plain text: https://secwatch.observer/filing/0000022356-26-000137.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.