Commerce is a regional bank based in Kansas City that can trace its roots to the Kansas City Savings Association founded in 1865 (the year the American Civil War ended). By 1903, the bank was named Commerce and headed by William Thornton Kemper. It has been in the Kemper family for at least the last 113 years.
Commerce is still run by the Kemper family. The current President and Chief Operating Officer John Kemper succeeded his father in 2013 to create an unbroken line of Kemper sons running about 110 years and five generations. This is a family run bank.
Commerce gets the vast majority (91 percent) of its deposits from Missouri (about 72 percent) and Kansas (19 percent).
Commerce is not a growth stock. But, it’s a good value stock. The combined level of growth in deposits per share – this number is boosted by the annual stock buybacks – and the dividend yield is high enough to outperform the S&P 500.
Commerce is a safe and boring bank. When it’s priced to outperform the S&P 500, it should be bought.