COMMERCE BANCSHARES INC /MO/

Listed Company

CBSHCIK 0000022356NasdaqLarge AcceleratedState Commercial BanksMissouriFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$566.25M

Total Assets

$32.92B

Equity

$3.79B

Shares Out

146.88M

Op. Cash Flow

$645.14M

Business

Commerce Bancshares, Inc. is a bank holding company that owns Commerce Bank and provides a broad range of banking and financial services to individuals, businesses, and municipalities. It offers retail and mortgage banking, corporate and commercial lending, payment solutions, investment and securities brokerage, underwriting, trust and estate services, asset management, private equity investments, specialty lending, and leasing. The Company is managed in three operating segments—Commercial, Consumer, and Wealth—each covering corporate lending and payments, retail and mortgage operations, and trust/brokerage and advisory services, respectively. Its principal markets are in Missouri, Kansas, central Illinois, Tulsa and Oklahoma City, Oklahoma, and Denver, with additional offices in several U.S. cities and a commercial payments sales force covering the continental United States.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	1,036	1,063	984	646	571
Interest on loans held for sale	131,000	165,000	583,000	637,000	880,000
Interest on investment securities	310	272	279	314	236
Interest on federal funds sold	31,000	49,000	659,000	412,000	4,000
Interest on securities purchased under agreements to resell	33	13	14	23	37
Interest on deposits with banks	104	121	103	15	3
Total interest income	1,484	1,470	1,381	999	848
Savings, interest checking and money market	210	227	146	25	8
Certificates of deposit of less than $100,000	34	42	39	1	1
Certificates of deposit of $100,000 and over	52	67	61	4	3
Interest on federal funds purchased	6	12	25	2	16,000
Interest on securities sold under agreements to repurchase	70	81	73	24	2
Interest on other borrowings	37,000	20,000	39	470,000	−24,000
Total interest expense	372	429	383	57	—
Net interest income	1,112	1,040	998	942	835
Provision for loan losses	56	33	35	28	—
Net interest income after provision for loan losses	1,056	1,007	963	914	902
Trust fees	233	214	191	185	188
Bank card transaction fees	184	190	191	176	168
Deposit account charges and other fees	108	100	91	94	97
Consumer brokerage services	22	18	17	19	18
Capital market fees	21	20	14	14	16
Loan fees and sales	14	13	11	13	30
Other	70	60	57	45	43
Total non-interest income	652	616	573	547	560
Investment securities gains (losses), net	4	8	15	21	30
Salaries and employee benefits	628	608	584	554	525
Data processing and software	134	127	119	111	102
Net occupancy	54	53	54	49	48
Professional and other services	49	35	36	36	—
Marketing	25	22	25	24	22
Equipment	22	21	20	19	18
Supplies and communication	20	19	19	18	17
Deposit insurance	10	16	33	11	9
Other	38	49	42	27	65
Total non-interest expense	980	951	931	849	806
Income before income taxes	732	679	620	632	686
Less income taxes	161	145	135	132	146
Net income	571	534	485	500	541
Less non-controlling interest expense (income)	4	8	8	12	10
NET INCOME ATTRIBUTABLE TO COMMERCE BANCSHARES, INC.	566	526	477	488	531
Net income per common share - basic (in dollars per share)	4.04	3.69	3.3	3.5	3.92
Net income per common share - diluted (in dollars per share)	4.04	3.69	3.3	3.5	3.91

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans	17,771	17,220	17,205	—	—
Allowance for credit losses on loans	−179	−163	−162	−150	—
Net Loans	17,592	17,057	17,043	—	—
Loans held for sale	4	3	4	5	9
Debt Securities, Available-for-sale	9,096	9,137	9,685	12,238	14,450
Trading	40	38	29	44	—
Equity Securities, FV-NI and without Readily Determinable Fair Value	57	57	13	12	9
Other Securities	230	230	222	225	—
Total investment securities	9,423	9,462	9,949	12,519	—
Federal funds sold	0	3	5	50	3
Securities Purchased under Agreements to Resell	850	625	450	825	—
Interest-bearing Deposits in Banks and Other Financial Institutions	2,744	2,625	2,239	389	3,971
Cash and due from banks	803	748	443	452	306
Premises and equipment net	486	475	469	419	389
Goodwill	147	147	147	139	139
Other intangible assets net	13	14	14	15	16
Other assets	852	837	938	910	507
Total assets	32,915	31,997	31,701	31,876	36,689
Non-interest bearing	8,206	8,151	7,976	10,066	11,772
Savings, interest checking and money market	15,047	14,755	14,512	15,127	16,598
Time open and C.D.s of less than $100,000	1,023	997	930	387	436
Time open and C.D.'s of $100,000 and over	1,363	1,392	1,945	607	1,007
Total deposits	25,640	25,294	25,364	26,187	29,813
Federal funds purchased and securities sold under agreements to repurchase	2,990	2,927	2,909	2,842	3,023
Other borrowings	13	56,000	1	10	13
Other liabilities	458	444	463	356	392
Total liabilities	29,100	28,664	28,737	29,394	33,241
Common stock, $5 par value	693	676	655	629	611
Capital surplus	3,522	3,396	3,163	2,933	2,690
Retained earnings	132	45	53	32	92
Treasury Stock, Value	−48	−48	−36	−42	−33
Accumulated Other Comprehensive Income (Loss), Net of Tax	−508	−759	−891	−1,087	77
Equity, Attributable to Parent, Total	3,791	3,310	2,944	2,465	3,437
Non-controlling interest	23	23	20	16	11
Total equity	3,815	3,332	2,964	2,482	3,448
Total liabilities and equity	32,915	31,997	31,701	31,876	36,689

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Provision for depreciation and amortization	57	54	50	47	45
Amortization of investment security premiums, net	−18	−839,000	18	19	67
Deferred income tax (benefit) expense	12	−591,000	−7	22	26
Net gains on sales of loans held for sale	−3	−2	−1	−3	−23
Proceeds from sales of loans held for sale	130	107	59	124	577
Origination Of Loans Held For Sale	−129	−105	−57	−119	−525
Net (increase) decrease in trading securities	−15	−18	28	4	−30
Purchase of interest rate floor	0	0	−54	−36	0
Stock-based compensation	17	17	17	17	15
(Increase) decrease in interest receivable	−11	−5	−6	−28	20
Increase (decrease) in interest payable	9	−24	47	3	−3
Increase (decrease) in income taxes payable	−23	12	5	−13	−5
Other changes, net	−3	−16	−113	15	−10
Net cash provided by (used in) operating activities	645	578	489	559	598
Payments to Acquire Businesses, Net of Cash Acquired	0	0	−6	0	0
Proceeds from Equity Method Investment, Distribution, Return of Capital	0	0	1	400,000	14
Proceeds from sales of investment securities	86	1,296	1,142	107	81
Proceeds from maturities/pay downs of investment securities	1,775	2,133	1,936	2,691	3,459
Purchases of investment securities	−1,451	−2,678	−246	−2,148	−5,948
Net (increase) decrease in loans	−594	−55	−934	−1,146	1,135
Securities purchased under agreements to resell	−350	−500	0	−200	−900
Repayments of securities purchased under agreements to resell	125	325	375	1,000	125
Purchases of land, buildings and equipment	−53	−46	−88	−65	−57
Sales of land, buildings and equipment	100,000	9	4	3	9
Net cash provided by (used in) investing activities	−462	484	2,184	242	−2,083
Net increase (decrease) in non-interest bearing, savings, interest checking and money market deposits	273	413	−2,612	−3,254	3,291
Net increase (decrease) in time open and C.D.s	−2	−487	1,882	−449	−402
Net increase (decrease) in short-term federal funds purchased and securities sold under agreements to repurchase	63	18	67	−181	925
FHLB short-term borrowings	0	0	2,250	0	0
Repayments of FHLB borrowings	0	0	−2,250	0	0
Net increase (decrease) in other borrowings	13	−1	−8	−3	12
Purchases of treasury stock	−208	−170	−76	−187	−129
Cash dividends paid on common stock and distributions to non-controlling interest	−150	−145	−135	−127	—
Other, net	−4,000	−12,000	−3,000	−8,000	−15,000
Net cash provided by (used in) financing activities	−11	−373	−883	−4,201	3,574
Increase (decrease) in cash and cash equivalents	172	689	1,789	−3,399	2,089
Interest paid on deposits and borrowings	363	453	337	54	16
Loans transferred to foreclosed real estate	2	1	322,000	457,000	182,000

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro