Commerce Bancshares, Inc. (CBSH)

Commerce Bancshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	1,065	984.98	646.93	571.43	612.93	664.55
Interest Income on Investments	397.26	396.31	352.05	276.86	259.72	260.14
Total Interest Income	1,463	1,381	998.98	848.29	872.65	924.69
Interest Paid on Deposits	339.08	246.14	30.47	11.24	35.7	73.03
Interest Paid on Borrowings	101.66	137.02	26.33	1.62	7.11	30.37
Total Interest Expense	440.74	383.16	56.79	12.87	42.8	103.39
Net Interest Income	1,022	998.13	942.19	835.42	829.85	821.29
Net Interest Income Growth (YoY)	1.76%	5.94%	12.78%	0.67%	1.04%	-0.31%
Trust Income	207.24	190.95	184.72	188.23	160.64	155.63
Gain (Loss) on Sale of Assets	2.1	2.1	-	-	-	11.47
Gain (Loss) on Sale of Investments	14.45	14.99	20.51	30.06	11.03	3.63
Gain (Loss) on Sale of Equity Investments	-	-	-	-2.6	-	-
Other Non-Interest Income	297.28	289	265.24	277.55	252	261.62
Total Non-Interest Income	619.44	588.03	564.84	590.45	516.9	528.33
Non-Interest Income Growth (YoY)	6.79%	4.11%	-4.34%	14.23%	-2.16%	5.49%
Revenues Before Loan Losses	1,641	1,586	1,507	1,426	1,347	1,350
Provision for Loan Losses	25.27	35.45	28.07	-66.33	137.19	50.44
Revenue	1,616	1,551	1,479	1,492	1,210	1,299
Revenue Growth (YoY)	4.99%	4.85%	-0.89%	23.37%	-6.90%	1.34%
Salaries and Employee Benefits	552.8	535.5	507.47	481.75	470.41	452.11
Occupancy Expenses	53.46	53.63	49.12	48.19	46.65	47.16
Federal Deposit Insurance	32.72	33.16	10.58	9.09	-	-
Selling, General & Administrative	206.49	199.29	188.97	174.27	166.23	168.12
Other Non-Interest Expense	111.3	109.4	92.94	84.4	85.09	100.01
Total Non-Interest Expense	956.77	930.98	849.08	797.7	768.38	767.4
EBT Excluding Unusual Items	659.42	619.73	629.87	694.5	441.18	531.79
Asset Writedown	-	-	0.3	-	-	-
Legal Settlements	-10	-	-	-8.2	-	-
Pretax Income	649.42	619.73	632.38	686.3	441.18	531.79
Income Tax Expense	140.81	134.55	132.36	145.71	87.29	109.07
Earnings From Continuing Operations	508.62	485.18	500.02	540.59	353.89	422.71
Minority Interest in Earnings	-9.17	-8.12	-11.62	-9.83	0.17	-1.48
Net Income	499.45	477.06	488.4	530.77	354.06	421.23
Preferred Dividends & Other Adjustments	4.63	4.24	4.45	4.85	15.18	13.02
Net Income to Common	494.82	472.82	483.95	525.92	338.88	408.21
Net Income Growth	-0.00%	-2.32%	-7.98%	49.91%	-15.95%	-2.84%
Basic Shares Outstanding	129	130	132	134	135	138
Diluted Shares Outstanding	129	130	132	134	135	139
Shares Change (YoY)	-1.17%	-1.34%	-1.94%	-0.39%	-2.66%	-2.27%
EPS (Basic)	3.84	3.64	3.68	3.92	2.52	2.95
EPS (Diluted)	3.84	3.64	3.67	3.91	2.51	2.94
EPS Growth	1.15%	-0.97%	-6.16%	55.80%	-14.72%	-0.55%
Dividend Per Share	1.067	1.028	0.961	0.907	0.889	0.815
Dividend Growth	5.54%	6.97%	5.95%	2.07%	9.10%	16.12%
Effective Tax Rate	21.68%	21.71%	20.93%	21.23%	19.79%	20.51%

Source: S&P Capital IQ. Banks template. Financial Sources.