EXHIBIT 23(c)
CONSENT OF FINANCIAL ADVISOR
CONSENT OF HOVDE FINANCIAL, INC.
We hereby consent to the inclusion of our opinion letter, dated December 4, 2006, to the Board of Directors of South Tulsa Financial Corporation as an Appendix to the Joint Proxy Statement/Prospectus, which forms a part of the Registration Statement on Form S-4 of Commerce Bancshares, Inc., and to the references to our name and to the description of such opinion in the Joint Proxy Statement/Prospectus. In giving such consent, we do not admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended (the “Act”), or the rules and regulations of the Securities and Exchange Commission thereunder (the “Regulations”), nor do we admit that we are experts with respect to any part of such Registration Statement within the meaning of the term “experts” as used in the Act or the Regulations.
/s/ Hovde Financial, Inc. As of February 6, 2007 | ||||
www.hovde.com
1824 Jefferson Place, NW | 1629 Colonial Parkway | 222 N. Sepulveda Boulevard #1306 | 3908 S. Ocean Boulevard, Suite M122 | |||||
Washington, DC 20036 | Inverness, IL 60067 | El Segundo, CA 90245 | Highland Beach, FL 33487 | |||||
Telephone 202.775.8109 | Telephone 847.991.6622 | Telephone 310-535-0030 | Telephone 561.279.7199 | |||||
Facsimile 202.293.5287 | Facsimile 847.991.5928 | Facsimile 310-535-9203 | Facsimile 561.278.5856 |