Commerce Bank History

The founder of the bank, Morris Weil, arrived in the United States from France at the tender age of 17 in 1875.

Originally known as the Kansas City Savings Association, it was acquired in 1881 by William Stone Woods and renamed the National Bank of Commerce, claiming at the time to be the largest bank west of Chicago.

An ambitious man working in the mercantile business, Weil opened his own store, the Lincoln Paint and Color Company in 1892.

The Bank of Commerce was opened in 1902 with a state charter and $50,000 in capital.

The bank became Commerce Bank in 1903 with William Thornton Kemper Sr. as its first president.

Dunn had started working in the bank in 1905 at the age of 17 and had gained invaluable experience first watching and later working closely with Morris Weil.

The panic of 1907 drove many banks out of business throughout the United States, and severe drought in the plains states led to a series of agricultural crises.

In 1911, National Bank of Commerce opened a savings department, one of the first in the entire state.

In 1924, the bank moved to a new location on the corner of 13th and O streets, and built a modern six-story building to house its administrative offices.

In May 1961, Glenn Max Yaussi replaced Dunn as president of the bank.

In 1964, Yaussi and his chief executives had the foresight to see a credit problem on the horizon and arranged for the bank to offer expanded savings deposits.

Under the direction of Amen and Yaussi, in 1968 the bank combined with other banks from surrounding states in order to issue a Master Charge card under the auspices of the MidAmerica Bankcard Association.

Commerce leads financing for TWA overhaul base. (By 1972, TWA is Kansas City’s largest employer.) James Kemper, Jr. becomes president of the bank.

In 1973, the bank acquired Nebraska Savings Company, located in Scottsbluff, Nebraska.

By 1977, Mutual Savings Company had increased its assets to over $23 million, vindicating the acquisition.