Commerce Bancshares Q4 EPS $0.84, net income $109.2M; FDIC charge $16M

COMMERCE BANCSHARES INC /MO/

2023-FY EPS reported $3.64

EPS of $0.84 vs $1.00 in Q4 2022 and $0.92 in Q3 2023; net income $109.2M.
Net interest income $248.4M, NIM expanded 6 bps to 3.17%; non-interest income $144.9M.
FDIC special assessment of $16.0M drove non-interest expense to $251.3M.
Deposits grew $674M across segments; final FHLB advances and brokered deposits matured.
Book value per share increased 14.4% to $22.77; non-accrual loans remained low at 0.04%.

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 0.4

COMMERCE BANCSHARES INC /MO/ reported financial results for three months ended December 31, 2023.

Period: three months ended December 31, 2023
Result: reported results

Exact text from the filing

A copy of the press release issued January 18, 2024 by Commerce Bancshares, Inc. announcing Fourth Quarter 2023 earnings is furnished under Item 2.02 of this Current Report on Form 8-K as Exhibit 99.1.

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51 earnings releases filed in the last 30 days. Browse all earnings releases →

COMMERCE BANCSHARES INC /MO/ filing history →

Source: SEC EDGAR

accession 0000022356-24-000004

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