Commerce Bank boosts quarterly profits by over 9%

Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH) posted a 9.3% increase in profits during the second quarter

The operator of four Commerce Bank branches in Springfield reported net income of $152.5 million, or $1.14 per diluted share, up from $139.6 million, or $1.03 per diluted share, a year earlier, according to a news release.

“Commerce delivered a strong financial performance in the second quarter, one that reflected our diversified operating model and the talented team behind it," CEO John Kemper said in the release. "Our financial results were supported by loan growth, strong fee income, low credit costs and continued disciplined expense management, all key ingredients in our steady profit growth over time."

As of June 30, Commerce Bank's assets were $32.3 billion and deposits were $25.5 billion. During the quarter, Commerce announced the planned acquisition of Fort Myers, Florida-based FineMark Holdings Inc. (OTCQX: FNBT) in a deal valued at roughly $585 million that's expected to close in January 2026. 

CBSH shares were trading at $65.19 as of 11:41 a.m., compared with a 52-week range of $52.69 to $72.75 per share.