Commerce Bank to replace southwest Springfield location with new branch

Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH) is replacing one of its Commerce Bank buildings in Springfield.

The company announced in a news release yesterday that a new banking center would be constructed on West Republic Road. Commerce Bank has an existing branch at the 2770 W. Republic Road site.

“We have proudly served Springfield for decades and we are excited about our plans in the southwest Springfield area,” said Nichole Goddard, executive vice president and regional banking director for Commerce Bank, in the release. "Our new space will offer the same great services as our current location with a more modern and efficiently designed space."

The phased project is currently in Phase 1, which calls on the relocation of the ATM at the site behind the existing building. The existing branch is slated to remain open until the new location is complete.

Jenny Stanley, senior marketing strategist for Commerce Bank, said via email that Crossland Construction Co. Inc. is serving as general contractor for the project, with Esterly Schneider & Associates Inc. on board as the architect of record. The company is targeting a late 2025 completion for the 2,500-square-foot branch, Stanley said, declining to disclose the projected construction cost.

The existing building on the site will be demolished after the completion of the new branch, said Stanley, noting the new construction would be in front of the current facility.

In the third quarter, Commerce Bancshares reported net income of $138 million, up from $120.6 million a year earlier, according to a separate news release. The company has four Commerce Bank branches in Springfield.

CBSH shares were trading at $72 as of 11:37 a.m., compared with a 52-week range of $47.28 to $73.31 per share.