Commerce Bancshares Q4 EPS $1.01, net income $136.1M, net interest margin 3.49%

COMMERCE BANCSHARES INC /MO/

2024-FY EPS reported $3.87

Diluted EPS $1.01, up from $0.79 YoY; net income $136.1M vs $109.2M YoY.
Net interest income $266.6M, up $4.3M QoQ; net yield 3.49% (down 1 bp).
Non-interest income $155.4M, +$10.6M YoY; trust fees +14.6% YoY.
Non-interest expense $235.7M, -6.2% YoY; efficiency ratio 55.8%.
Non-accrual loans 0.11% of loans; net charge-offs 0.25% annualized.

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