Commerce Bancshares Q3 EPS $0.96 vs $0.97 YoY; net interest margin down 1bp

COMMERCE BANCSHARES INC /MO/

2023-Q3 EPS reported $2.93

EPS $0.96, net income $120.6M vs $0.97/$122.8M in Q3 2022.
Net interest income $248.5M, down $1M QoQ; net yield 3.11% (down 1bp).
Average loans grew $299M (1.8%) QoQ to $17.0B; deposits up $359M.
Net charge-offs 0.23% annualized vs 0.16% prior; allowance ratio 0.95%.
Total assets down $1.5B (4.4%) from Q2; cash dividends $0.27/share.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

COMMERCE BANCSHARES INC /MO/ reported the three months ended September 30, 2023 results: net income $120.6 million, EPS $.96 per share.

Period: the three months ended September 30, 2023
Net income: $120.6 million
EPS: $.96 per share
Result: reported results

Exact text from the filing

Commerce Bancshares, Inc. announced earnings of $.96 per share for the three months ended September 30, 2023, compared to $.97 per share in the same quarter last year and $1.02 per share in the second quarter of 2023. Net income for the third quarter of 2023 amounted to $120.6 million, compared to $122.8 million in the third quarter of 2022 and $127.8 million in the prior quarter.

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COMMERCE BANCSHARES INC /MO/ filing history →

Source: SEC EDGAR

accession 0000022356-23-000054

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