YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe
Commerce Bank’s 2019 net income lands at roughly $412 million.
SBJ file photo
Commerce Bank’s 2019 net income lands at roughly $412 million.

Commerce Bank’s earnings drop

Posted online

Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH), the operator of six Commerce Bank branches in Springfield, disclosed drops in fourth quarter and full-year earnings.

For the fourth quarter, earnings dipped 2.6% to $104.6 million, or 93 cents per diluted share. The full year saw the bank’s profits drop by roughly 3% to $412.2 million, or $3.58 per diluted share, according to a news release.

2019 financial notes:
• Revenue rose 1.6% to $1.35 billion.
• Noninterest expenses climbed 4% to $767.4 million.
• Salaries and employee benefits moved up 5% to $493 million.

Commerce Bank’s assets were $26.1 million, deposits were $20.5 billion and loans were $14.8 billion as of Dec. 31, according to the release.

CBSH shares were trading at $68.04 as of 10:10 a.m., compared with a 52-week range of $54.65 to $69.48.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Coronavirus Coverage

SBJ compiles news on the respiratory virus outbreak.

Most Read
SBJ.net Poll
How soon do you plan to return to your employer’s office?

View results