v3.25.2
Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
INTEREST INCOME        
Interest and fees on loans $ 260,444 $ 267,463 $ 514,638 $ 532,140
Interest and fees on loans held for sale 40 46 63 86
Interest on investment securities 79,998 70,776 156,450 136,704
Interest on federal funds sold and short-term securities purchased under agreements to resell 2 27 31 37
Interest on Long-Term Securities Purchased Under Agreements To Resell 8,516 2,421 15,934 4,055
Interest on deposits with banks 22,636 28,630 48,885 55,062
Total interest income 371,636 369,363 736,001 728,084
INTEREST EXPENSE        
Savings, interest checking and money market 51,835 56,829 104,238 112,409
Certificates of deposit of less than $100,000 8,445 10,523 17,377 20,714
Certificates of deposit of $100,000 and over 12,914 16,892 26,233 34,988
Interest Expense, Federal Funds Purchased 1,416 3,569 2,800 7,988
Interest Expense, Securities Sold under Agreements to Repurchase 16,853 19,293 36,077 40,731
Interest on other borrowings 26 8 27 6
Total interest expense 91,489 107,114 186,752 216,836
Net interest income 280,147 262,249 549,249 511,248
Provision for credit losses 5,597 5,468 20,084 10,255
Net interest income after credit losses 274,550 256,781 529,165 500,993
NON-INTEREST INCOME        
Trust fee revenue 55,571 52,291 112,163 103,396
Bank card transaction fees 46,362 47,477 91,955 94,407
Deposit account charges and other fees 26,248 25,325 52,870 49,476
Capital market fees 6,175 4,760 11,287 8,652
Consumer brokerage services 5,383 4,478 10,168 8,886
Loan fees and sales 3,419 3,431 6,823 6,572
Other 22,455 14,482 39,296 29,703
Total non-interest income 165,613 152,244 324,562 301,092
INVESTMENT SECURITIES GAINS (LOSSES), NET        
INVESTMENT SECURITIES GAINS (LOSSES), NET 437 3,233 (7,154) [1] 2,974 [1]
NON-INTEREST EXPENSE        
Salaries and employee benefits 155,025 149,120 308,103 300,921
Data processing and software 32,904 31,529 65,142 62,682
Net occupancy 13,654 12,544 27,674 26,118
Professional and other services 12,973 8,617 22,999 17,265
Marketing 5,974 5,356 11,817 9,392
Equipment 5,157 5,091 10,405 10,101
Supplies and communication 4,962 4,636 10,008 9,380
Deposit insurance 3,312 2,354 7,056 10,371
Other 10,476 12,967 19,609 31,681
Total non-interest expense 244,437 232,214 482,813 477,911
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 196,163 180,044 363,760 327,148
Less income taxes 42,400 38,602 79,364 70,254
Net income 153,763 141,442 284,396 256,894
Less non-controlling interest expense (income) 1,284 1,889 325 4,678
Net income attributable to Commerce Bancshares, Inc. $ 152,479 $ 139,553 $ 284,071 $ 252,216
Net income per common share — basic $ 1.14 $ 1.03 $ 2.12 $ 1.85
Net income per common share — diluted $ 1.14 $ 1.03 $ 2.12 $ 1.85
[1] Available for sale debt securities, equity securities, and other securities.