Boone National Savings and Loan Association and Commerce Bank, N.A., Announce AgreementAcquisition Agreement • April 7th, 2006 • Commerce Bancshares Inc /Mo/ • State commercial banks
(Columbia, MO, April 5, 2006) – Rick Kruse, president and CEO of Boone National Savings and Loan Association, and Teresa Maledy, president and market manager, Commerce Bank, N.A., Central Missouri Region, jointly announce today the signing of an agreement whereby Commerce Bank, N.A., will acquire the banking business of Boone National Savings and Loan Association. Nominal consideration recognizes Boone National Savings and Loan Association’s equity as of December 31, 2006 of $15,389,000 plus a premium for the banking business of $16,250,000. Pending regulatory approval, the transaction is expected to close in July 2006.
