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Commerce Bank as well as a small group of banks have been downgraded by Moody's.
Posted August 10, 2023
Kansas City-based Commerce Bank, which has nearly 50 branch locations in the Kansas City, Lawrence, and St. Joseph area, is among 10 small-to-mid-sized banks whose credit ratings were downgraded by Moody’s.
In a recent report from Moody’s 10 small-to-mid-sized banks have been downgraded due to financial risks and strains. Kansas City-based Commerce Bank is among that group. These actions to downgrade certain banks come after the banking crisis in March with the collapse of Silicon Valley Bank followed by Signature Bank and First Republic Bank.
Commerce Bank has established branch locations in Kansas City, Lawrence and St. Joseph.
The bank released this statement following the news of the downgrade:
“Commerce Bank is very proud to be among the highest-rated banks in the country. As Moody’s notes, ‘The stable outlook reflects Moody’s view that over the next 12-18 months, Commerce’s strong financial performance will continue despite the current challenging operating environment.’ At a baseline credit assessment (BCA) of a2, we remain two ratings above the baa1 median US bank and share this rating with only 10 other banks in the US.”
List of the 10 small-to-mid-sized banks downgraded:
