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Commerce Bank changed owners Tuesday, but its name will stay virtually the same.

Commerce Bank, the 31-year-old Aurora-based entity, has been acquired by Commerce Bancshares Inc. of Kansas City, Mo. The deal marks the latest Colorado-based bank to be purchased by a larger, out-of-state entity in recent years.

The $29.5 million cash deal is expected to close this year, pending what is the purpose of a savings account by regulators and shareholders of Commerce Bancshares.

Commerce Bank, which has one retail location in Aurora, has about $100 million in assets, $75.5 million in total deposits and $70 million in gross loans. The bank, which caters mostly to small to midsize businesses, employs 37 people.

“We happen to think it is a very strong name,” said Jim Lewien, president of Commerce Bank. “Our existing customers aren’t going to see a lot commerce bank locations denver co changes.” But, he added, “The logo will change.”

Lewien, 61, said the company will expand its range of products and increase the maximum size of its loans as a result of the merger. The deal also will set groundwork for the opening of retail branches, he said.

Lewien will be the president and chief executive of the merged company’s Denver operations.

Publicly traded Commerce Bancshares is a $15.2 billion bank holding company with 360 locations mostly across the Midwest. The company does not have any branches in Colorado, although it does count a handful of commercial customers in the state, said Kevin Barth, president and chief operating officer for the Kansas City region.

Barth said Commerce Bancshares first approached Commerce Bank about a possible deal more than three years ago. He said it “took awhile for commerce bank locations denver co to feel comfortable with us.”

“The fact they don’t have to change their name is a plus,” Barth said.

Commerce Bank has fiercely guarded its name in recent years. The company has a pending lawsuit against Fort Collins Commerce Bank, arguing the name is too similar. Lewien said the lawsuit is scheduled to go to trial this fall.

“We believe it has infringed upon our name,” said Lewien, who has been with Commerce Bank since the late 1970s.

Staff writer Will Shanley can be reached at 303-954-1260 or [email protected]

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Business operations may be affected due to COVID-19. Please contact the business directly to verify commerce bank locations denver co Recent Comments

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  April 2017

  I was looking for a BANK, there is a office inside but they don't do any banking. Someone should take this down. The women that works for the building at this addressshe has never heard of COMMERCE BANK and what a hassle to find parking downtown.

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From Commerce Bank - Commercial Banking Office (Not a Retail Branch)

Nearest Commerce Bank Stores

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