Commerce Bank reports $141.5M in Q3 profits

Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH) reported an earnings uptick during the third quarter.

The operator of four Commerce Bank branches in Springfield posted net income of $141.5 million, a 2.5% increase from $138 million in the same quarter last year, according to a news release. Diluted share earnings moved up to $1.06 from $1.01 in third quarter 2024.

"Commerce delivered another strong quarter, underscoring the resilience of our diversified operating model and the dedication of our talented team," CEO John Kemper said in the release. "Our third-quarter results reflect steady loan balances, robust fee income and disciplined expense management, all of which contributed to another period of high profitability."

Commerce Bank's assets were $32.3 billion and deposits were $25.5 billion as of Sept. 30. In the Springfield metropolitan statistical area, Commerce Bank ranked No. 5 for deposits held as of June 30, according to recently released Federal Deposit Insurance Corp. data. The company had $1.29 billion in MSA deposits, or 7.54% of the market share. 

CBSH shares were trading at $53.08 as of 10:03 a.m., compared with a 52-week range of $52.11 to $72.75 per share.