Commerce replaces Boone National

Sunday, July 23, 2006 | 12:00 a.m. CDT; updated 2:42 a.m. CDT, Monday, July 7, 2008
BY LUCINDA HOUSLEY

Commerce Bank officials announced Friday the completion of their purchase of Boone National Savings and Loan Association.

Commerce Bancshares Inc., a Kansas City-based regional bank holding company, first announced the acquisition of the assets and banking business of Boone National Savings, which was founded in 1896, in early April.

The purchase increases the number of Commerce branches and ATMs in mid-Missouri to 16, according to a news release. This includes its loan production offices in Lake of the Ozarks and Ashland, according to a news release.

Boone National Savings’ 85-year-old main banking center at Ninth Street and Broadway will serve as Commerce Bank’s headquarters in Columbia and central Missouri, said Teresa Maledy, Commerce Bank’s president and market manager.

After the sale, Commerce Bank’s deposits for mid-Missouri total about $525 million, the news release said.

Commerce Bank is currently building a new full-service banking center at Brown School Road and Highway 763, according to a news release. The bank is expected to be completed by the end of this year.

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