Commerce Bancshares, Inc. Reports First Quarter Earnings Per Share of $1.11

Commerce Bancshares, Inc. announced earnings of $1.11 per share for the three months ended March 31, 2021, compared to $.42 per common share in the same quarter last year and $1.11 per common share in the fourth quarter of 2020. Net income attributable to Commerce Bancshares, Inc. (net income) for the first quarter of 2021 amounted to $131.0 million, compared to $51.9 million in the first quarter of 2020 and $129.9 million in the prior quarter. For the quarter, the return on average assets was 1.63%, the return on average equity was 15.69% and the efficiency ratio was 56.4%.

In announcing these results, John Kemper, Chief Executive Officer, said, “This quarter we continued to see strong performance from our fee-based businesses, which are healthy and accounted for 40% of total revenue. Growth in non-interest income resulted from higher trust, mortgage banking and capital markets fees. Non-interest expense declined compared to the same quarter last year, as salaries and benefits expense was flat, while most other expense categories declined. Net income was also aided by the release of reserves for credit losses on loans. Continued economic recovery coupled with a more optimistic outlook resulted in a lower estimate of the allowance for credit losses and reduced our provision for credit losses this quarter. Net securities gains of $9.9 million were driven by an increase in the value of our portfolio of private equity investments. Compared to the previous quarter, average deposits grew $898.6 million, or 3.5%, while loan demand was mixed. Average loan balances in construction and personal real estate increased, but lower business, consumer, and consumer credit card balances kept total average loan balances relatively flat. While average business loan balances decreased $47.4 million this quarter, this includes a net decline of $102.3 million of PPP loan balances.”

Mr. Kemper continued, “This quarter, net loan charge-offs totaled $10.0 million, compared to $8.0 million in the prior quarter and $10.9 million in the first quarter of 2020. The ratio of annualized net loan charge-offs to average loans was .25% in the current quarter, .19% in the prior quarter and .30% in the first quarter of last year. Net loan charge-offs on commercial loans totaled $17 thousand this quarter compared to $572 thousand in the prior quarter. Non-performing assets decreased this quarter from $26.6 million to $23.7 million. At March 31, 2021, the allowance for credit losses on loans decreased to $200.5 million.”

Total assets at March 31, 2021 were $33.3 billion, total loans were $16.4 billion, and total deposits were $27.4 billion. During the quarter, the Company paid a cash dividend of $.263 per share, representing a 2.1% increase over the rate paid in the fourth quarter of 2020. The Company purchased 354,181 shares of its common stock this quarter.

Commerce Bancshares, Inc. is a regional bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 150 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. It also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line.

This financial news release, including management's discussion of first quarter results, is posted to the Company's web site at www.commercebank.com.

COMMERCE BANCSHARES, INC. and SUBSIDIARIES FINANCIAL HIGHLIGHTS
	For the Three Months Ended
(Unaudited) (Dollars in thousands, except per share data)	March 31, 2021			December 31, 2020			March 31, 2020
FINANCIAL SUMMARY
Net interest income	Commerce Bancs NASDAQ:CBSH CBSH Rankings #1099 Ranked by Market Cap N/A Ranked by Dividends CBSH Latest News Jan 1, 2026 Commerce Bancshares, Inc. Completes FineMark Holdings, Inc. Acquisition Dec 3, 2025 Exchange Ratio Adjusted for Commerce Bancshares, Inc.’s Pending Acquisition of FineMark Holdings, Inc. Nov 3, 2025 Commerce Bancshares, Inc. Stock Repurchase Program Oct 31, 2025 Commerce Bancshares, Inc. Declares Stock Dividend and Quarterly Cash Dividend on Common Stock Oct 16, 2025 Commerce Bancshares, Inc. Reports Third Quarter Earnings Per Share of $1.06 CBSH Latest SEC Filings Dec 17, 2025 [Form 4] COMMERCE BANCSHARES INC /MO/ Insider Trading Activity Dec 17, 2025 [Form 4] COMMERCE BANCSHARES INC /MO/ Insider Trading Activity Nov 12, 2025 [13F-NT] COMMERCE BANCSHARES INC /MO/ SEC Filing Nov 10, 2025 [Form 3] COMMERCE BANCSHARES INC /MO/ Initial Statement of Beneficial Ownership Nov 10, 2025 [10-Q] COMMERCE BANCSHARES INC /MO/ Quarterly Earnings Report CBSH Stock Data Market Cap 7.97B Float 128.68M Insiders Ownership 2.56% Institutions Ownership 72.54% Short Percent 3.34% Industry Banks - Regional Sector State Commercial Banks Website Link Country United States City KANSAS CITY Related Articles Continue reading with these related stories $ROLR Top Gainer High Roller Technologies, Inc. Announces Closing of $25 Million Registered Direct Offering Jan 21, 2026 +39.59% offering $CCI Related Crown Castle Announces Tax Reporting Information for 2025 Distributions Jan 21, 2026 $BFS Related Saul Centers, Inc. Announces Tax Treatment of 2025 Dividends Jan 21, 2026 dividends $GSBC Related Great Southern Bancorp, Inc. Reports Preliminary Fourth Quarter Earnings of $1.45 Per Diluted Common Share Jan 21, 2026 $COLB Related Clint Stein Elected Chair of Columbia Banking System Board of Directors Jan 21, 2026 management $BIOA Trending BioAge Announces Pricing of Upsized $115.0 Million Public Offering Jan 21, 2026 offering $MSLVF Trending First Andes Silver Announces $2 Million Private Placement Financing Jan 21, 2026 private placement $WTKWY Related Share Buyback Transaction Details January 15 – January 21, 2026 Jan 22, 2026 buybacks $III Related Nordic Firms Seek Sovereign Clouds for Compliant Modernization Jan 22, 2026 $HLUCF Related Homeland Expands Drilling to Central Area of Coyote Basin Uranium System Jan 22, 2026 View All Latest News Explore About Editorial Policy FAQ Rhea-AI Sitemap Legal Terms of Use Cookie Notice Privacy Policy Market Data Articles Top Gainers Market Cap Momentum Scanner Stock Themes Live News Links RSS feed Facebook Reddit Add to Google News A leading AI‑powered platform for real‑time stock market news, press releases, SEC filings, earnings, and tools for trading and investing. © 2020-2026 StockTitan.net - Your Edge is Information Information only — not investment advice.