Commerce and UMB recognized by Forbes in top 10 bank list

Forbes.com has named Kansas-City based Commerce Bancshares (Nasdaq: CBSH) and UMB Financial Corp. (Nasdaq: UMBF) No. 8 and No. 10, respectively, in its top 10 list on its "America's Best and Worst Banks" feature. Forbes used data from SNL Financial to rank banks based on asset quality, capital adequacy and profitability.

Forbes noted both bank holding companies for their ability to keep nonperforming assets in check.

Commerce Bancshares, holding company for seven Springfield bank branches and 370 branches across Missouri, Kansas, Illinois, Oklahoma and Colorado, has approximately $18.8 billion in assets. It was founded in 1865.

As of Sept. 30, the company reported $10 billion in loans and $14.4 billion in total deposits, according to its third quarter earnings report.

At that time, its nonperforming assets totaled $102.1 million, compared to $103.2 million in the previous quarter and $121.7 million in the same quarter last year.

Net income for the nine months ended Sept. 30 amounted to $159.8 million, compared to $119.5 million earned in the first nine months of the previous year.

Commerce shares were trading at $40.14 as of 11 a.m., compared to a 52-week range of $33.43 to $41.16.

UMB Financial Corp., holding company for three Springfield bank branches and 133 branches in Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona, has approximately $11.3 billion in assets.

As of Sept. 30, the company reported $4.6 billion in loans and $8.6 billion in total deposits, according to its third quarter earnings report.

In the report, the company also reported nonperforming loans at $25 million, compared to $22.4 million as of Sept. 30, 2009.

Net income for the nine months ended Sept. 30 was recorded as $72 million, compared to $65.6 million earned in the first nine months of the previous year.

UMB shares were trading at 42.12 as of 11 a.m., compared to a 52-week range of $31.77 to $44.68.[[In-content Ad]]