Commerce Bancshares Q1 EPS $0.86, down from $0.91 YoY; net interest margin expands 16 bps

COMMERCE BANCSHARES INC /MO/

2024-Q1 EPS reported $0.86

Diluted EPS of $0.86 vs $0.91 YoY and $0.84 QoQ; net income $112.7M.
Net interest margin expanded 16 bps to 3.33%; net interest income up $578k QoQ.
Non-interest expense rose $21.6M YoY, including $10M litigation settlement and $4M FDIC assessment.
Credit quality strong: non-accrual loans at 0.03% of loans, net charge-offs 0.21%.
Trust fees grew 12.7% YoY to $51.1M.

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 0.9

COMMERCE BANCSHARES INC /MO/ reported financial results for first quarter 2024.

Period: first quarter 2024
Result: reported results

Exact text from the filing

A copy of the press release issued April 16, 2024 by Commerce Bancshares, Inc. announcing First Quarter 2024 earnings is furnished under Item 2.02 of this Current Report on Form 8-K as Exhibit 99.1.

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COMMERCE BANCSHARES INC /MO/ filing history →

Source: SEC EDGAR

accession 0000022356-24-000026

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