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Springfield, MO

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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.

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