This report does not constitute a rating action. ALAC--Additional loss-absorbing capacity. CRA--Comparable ratings analysis. GRE--Government-related entity. ICR--Issuer credit rating. SACP--Stand-alone credit profile. Overview Key strengths Key risks Strong capital ratios and consistent profitability. Substantial geographic concentration in the Midwest, most notably in Kansas and Missouri. Historically strong credit quality. Fairly modest domestic market share, especially when compared with the market shares at similarly rated peers. High noninterest income contribution, helping revenue stability and diversification throughout interest rate and credit cycles. Strong funding metrics and a low-cost deposit franchise, aided by its large proportion of non-interest-bearing deposits. FineMark will be Commerce's first bank acquisition in over a decade, and we do not expect it to materially alter Commerce's strategy. The $585
