COMMERCE BANCSHARES, INC. CBSH Income Statement

Commerce bancshares, inc. (CBSH)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
INTEREST INCOME
Loans
159,147	161,238	167,959	167,709	166,432	164,751	159,182	154,135	147,015	142,402	138,827	134,273	128,323	125,722	123,750	121,151	119,333	116,957	114,954	113,467	111,286	112,271	112,688	111,496	110,702	112,691	110,587	108,018	107,786	110,704	111,619	112,252	111,756	113,634	114,731	116,769	118,377	121,690	126,273	128,781	130,922	138,614	141,423
Interest and fees on loans held for sale
197	206	308	361	334	307	315	372	304	254	287	263	196	156	334	692	135	83	48	39	21	0	0	0	0	0	0	91	85	83	85	88	105	238	270	309	298	558	1,368	2,261	1,904	1,445	1,963
Interest on investment securities
53,385	58,800	58,607	64,658	55,422	61,589	59,792	65,564	53,242	53,864	50,585	54,975	55,265	51,934	51,661	54,698	48,891	49,385	50,716	53,264	38,436	43,633	46,338	53,016	45,019	44,867	46,356	53,233	44,959	53,850	46,513	57,561	53,758	55,050	51,697	57,712	54,889	53,438	50,295	53,801	55,163	61,416	55,517
Interest on federal funds sold and short-term securities purchased under agreements to resell
2	4	7	11	33	93	69	177	180	92	78	37	23	15	20	19	24	15	21	15	9	21	30	24	26	34	35	28	9	12	24	29	17	10	13	22	10	8	12	13	15	52	36
Interest on long-term securities purchased under agreements to resell
7,462	4,832	3,621	3,687	3,758	4,067	3,915	3,785	4,114	4,158	3,805	3,684	3,793	3,387	3,328	3,354	3,475	3,178	3,273	3,670	3,051	2,695	2,684	2,943	4,151	4,385	5,095	5,810	5,829	5,404	4,913	4,582	4,275	4,215	3,913	3,165	2,162	-	862	-	0	0	-
Interest on deposits with banks
1,292	1,585	1,241	1,986	1,886	2,025	1,478	1,590	1,140	802	662	362	397	284	268	151	270	124	103	122	179	296	71	88	100	164	71	75	77	132	40	112	55	76	211	110	90	55	106	201	65	120	53
Total interest income
221,485	226,665	231,743	238,412	227,865	232,832	224,751	225,623	205,995	201,572	194,244	193,594	187,997	181,498	179,361	180,065	172,128	169,742	169,115	170,577	152,982	158,916	161,811	167,567	159,998	162,141	162,144	167,255	158,745	170,185	163,194	174,624	169,966	173,223	170,835	178,087	175,826	177,436	178,916	185,057	188,069	201,647	198,992
INTEREST EXPENSE
Savings, interest checking and money market
8,309	9,631	10,225	10,254	9,602	8,465	7,230	6,519	5,589	4,636	4,441	4,342	3,890	3,715	3,619	3,548	3,484	3,423	3,356	3,287	3,308	3,458	3,400	3,358	3,306	3,554	3,502	3,375	3,924	4,344	4,623	4,634	5,081	6,139	6,445	6,372	6,900	7,230	7,261	7,711	7,096	7,695	7,978
Certificates of deposit of less than $100,000
1,775	1,838	1,740	1,531	1,259	1,025	834	694	662	651	676	674	644	675	683	709	742	752	786	818	880	944	1,010	1,063	1,120	1,217	1,380	1,656	1,749	1,863	1,945	2,004	2,106	2,231	2,413	2,965	3,743	4,553	5,444	6,059	6,815	13,485	14,545
Certificates of deposit of $100,000 and over
5,235	6,472	7,540	6,931	6,002	4,437	3,899	3,483	2,839	2,490	2,784	2,822	2,763	2,026	2,186	2,347	1,986	1,583	1,554	1,504	1,410	1,441	1,518	1,515	1,452	1,482	1,535	1,667	1,699	1,692	1,743	1,828	1,911	2,035	2,130	2,434	2,673	2,901	3,461	3,562	3,923	8,431	9,915
Interest on federal funds purchased and securities sold under agreements to repurchase
4,770	5,576	8,273	8,057	7,509	6,676	5,022	3,956	4,001	3,406	2,846	2,038	1,539	978	724	725	888	590	483	421	367	266	287	263	203	155	166	270	218	185	221	177	225	140	292	687	622	354	584	826	820	816	849
Interest on other borrowings
331	489	453	5	5	9	12	12	12	381	906	911	888	902	906	907	1,253	907	898	890	879	878	880	875	851	868	855	829	812	848	851	876	906	4,589	925	-919	-915	28,171	-2,729	-3,791	-6,705	-7,681	-8,260
Total interest expense
20,420	24,006	28,231	26,778	24,377	20,612	16,997	14,664	13,103	11,564	11,653	10,787	9,724	8,296	8,118	8,236	8,353	7,255	7,077	6,920	6,844	6,987	7,095	7,074	6,932	7,276	7,438	7,797	8,402	8,932	9,383	9,519	10,229	11,466	12,205	13,377	14,853	16,759	19,479	21,949	25,359	38,108	41,547
Net interest income
201,065	202,659	203,512	211,634	203,488	212,220	207,754	210,959	192,892	190,008	182,591	182,807	178,273	173,202	171,243	171,829	163,775	162,487	162,038	163,657	146,138	151,929	154,716	160,493	153,066	154,865	154,706	159,458	150,343	161,253	153,811	165,105	159,737	161,757	158,630	164,710	160,973	160,677	159,437	163,108	162,710	163,539	157,445
Provision for loan losses
57,953	15,206	10,963	11,806	12,463	12,256	9,999	10,043	10,396	12,654	10,704	10,758	11,128	10,400	7,263	9,216	9,439	9,186	8,364	6,757	4,420	4,664	7,652	7,555	9,660	5,543	4,146	7,379	3,285	8,326	5,581	5,215	8,165	12,143	11,395	12,188	15,789	21,647	21,844	22,187	34,322	35,361	41,166
Net interest income after provision for loan losses
143,112	187,453	192,549	199,828	191,025	199,964	197,755	200,916	182,496	177,354	171,887	172,049	167,145	162,802	163,980	162,613	154,336	153,301	153,674	156,900	141,718	147,265	147,064	152,938	143,406	149,322	150,560	152,079	147,058	152,927	148,230	159,890	151,572	149,614	147,235	152,522	145,184	139,030	137,593	140,921	128,388	128,178	116,279
NON-INTEREST INCOME
Bank card transaction fees
40,200	41,079	44,510	42,646	39,644	44,481	42,427	43,215	41,453	42,888	39,166	37,295	35,751	17,502	47,006	45,065	44,470	46,320	44,635	45,672	42,299	44,843	44,802	44,444	41,717	43,486	43,891	40,700	38,550	41,542	39,488	38,434	34,733	36,162	42,149	41,304	37,462	41,016	37,723	37,659	32,490	31,279	30,105
Trust fee revenue
39,965	40,405	39,592	38,375	37,256	37,466	37,400	37,036	36,062	35,405	34,620	33,120	32,014	31,360	30,951	30,241	29,243	29,018	29,302	30,531	29,586	28,356	28,560	27,765	26,573	26,308	25,318	25,734	25,169	24,351	23,681	23,833	22,814	22,095	22,102	22,544	21,572	21,117	20,170	20,358	19,318	19,258	19,355
Deposit fee revenue
23,677	24,974	24,032	23,959	23,018	23,887	23,755	23,893	22,982	22,598	22,659	22,861	21,942	22,134	22,241	21,328	20,691	21,606	20,674	19,637	18,499	20,220	20,161	19,709	18,590	20,506	20,197	19,602	18,712	20,301	19,873	19,975	19,336	20,623	21,939	20,789	19,300	21,491	21,693	25,472	23,981	27,750	26,935
Capital market fees
3,790	2,536	1,787	1,944	1,879	1,843	1,595	1,992	2,291	1,743	1,755	2,156	2,342	2,679	2,751	2,500	2,725	3,116	2,620	2,738	3,002	2,768	2,783	3,246	3,870	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Consumer brokerage services
4,077	4,139	4,030	3,888	3,747	4,184	3,884	3,971	3,768	3,576	3,679	3,726	3,649	3,409	3,375	3,491	3,509	3,254	3,687	3,507	3,336	3,717	3,098	2,972	2,747	68	3,242	3,305	4,391	4,075	5,110	5,010	6,871	4,591	5,556	4,979	4,720	-	-	-	-	-	-
Bond trading income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,133	5,387	5,004	4,834	6,538
Consumer brokerage services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,871	2,853	2,686	2,619	2,441	2,576	2,526	2,142	2,333	2,880	2,663	2,311	2,390	2,372	2,117	3,045	2,826
Loan fees and sales
3,235	3,465	4,755	4,238	3,309	3,053	3,579	3,229	2,862	3,099	3,590	4,091	3,168	2,583	3,123	3,196	2,510	2,101	1,855	2,183	2,089	1,321	1,367	1,211	1,209	1,525	1,553	1,314	1,473	1,412	1,358	1,706	1,561	1,647	2,034	2,075	1,824	11,975	5,830	3,472	1,839	6,851	3,733
Other
8,719	26,863	14,037	12,209	12,387	18,173	11,074	11,514	10,272	10,074	11,418	12,131	10,747	11,976	9,872	10,749	15,876	10,627	8,515	9,967	7,763	11,605	11,515	9,416	7,921	11,906	9,239	9,168	8,896	9,009	8,971	9,282	6,742	6,775	5,519	6,773	8,365	6,970	7,071	6,738	8,440	9,118	9,070
Total non-interest income
123,663	143,461	132,743	127,259	121,240	133,087	123,714	124,850	119,690	119,383	116,887	115,380	109,613	91,643	119,319	116,570	119,024	116,042	111,288	114,235	106,574	112,830	112,286	108,763	102,627	109,522	106,311	102,676	99,877	103,309	100,922	100,816	94,583	94,035	101,632	101,344	95,906	110,454	100,010	101,458	93,189	102,135	98,562
INVESTMENT SECURITIES GAINS (LOSSES), NET
Change in fair value of other-than-temporary impairment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	770	785	63	230	588	293	-1,389	356	-5,989	-3	-5,587	796	1,200	2,119	-6,305	-1,703	-5,645	-4,415	-1,295	3,457	10,080
Portion recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-399	-154	283	-206	-258	195	1,831	-93	6,546	353	5,907	-14	-369	-1,469	6,579	2,594	7,690	5,091	2,752	-1,993	-9,286
Net impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	371	631	346	-24	-330	-488	-442	-263	-557	-350	-320	-782	-831	-650	-274	-891	-2,045	-676	-1,457	-1,464	-794
Realized gains on sales and fair value adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,366	-1,927	10,383	-1,318	980	-1,080	-1,723	-3,465	3,737	1,686	4,360	5,724	3,418	2,606	1,601	2,095	2,061	1,336	-2,208	519	-1,959
Investment securities gains (losses), net
-13,301	-248	4,909	-110	-925	-7,129	4,306	-3,075	5,410	27,209	-3,037	1,651	-772	3,651	-1,965	-744	-995	-1,480	-378	2,143	6,035	3,650	2,995	-2,558	10,037	-1,342	650	-1,568	-2,165	-3,728	3,180	1,336	4,040	4,942	2,587	1,956	1,327	1,204	16	660	-3,665	-945	-2,753
NON-INTEREST EXPENSE
Salaries and employee benefits
128,937	126,901	123,836	120,062	122,128	120,517	116,194	115,589	115,894	115,741	111,382	108,829	112,369	108,639	107,004	104,808	106,859	102,098	100,874	99,655	98,074	99,526	95,462	94,849	94,263	95,012	91,405	89,569	90,881	94,553	89,292	87,511	89,543	88,010	85,700	84,223	87,392	86,562	85,442	87,108	87,438	87,267	86,279
Net occupancy
11,748	12,218	12,293	11,145	11,501	11,711	11,631	11,118	11,584	11,280	11,459	11,430	11,443	11,529	12,366	11,092	11,303	10,981	11,247	10,999	11,561	11,473	11,585	11,151	11,616	11,838	11,332	11,234	11,235	11,581	11,588	11,105	11,260	11,674	11,510	11,213	12,037	11,290	12,086	11,513	12,098	11,752	11,088
Equipment
4,821	4,859	4,941	4,790	4,471	4,508	4,592	4,594	4,431	4,692	4,491	4,776	4,609	4,884	4,842	4,781	4,634	4,915	4,789	4,679	4,703	4,753	4,593	4,525	4,504	4,597	4,465	4,680	4,683	4,983	4,976	4,999	5,189	5,583	5,390	5,702	5,577	5,776	5,709	5,938	5,901	6,306	6,255
Supplies and communication
4,658	4,851	5,106	5,275	5,162	5,095	5,103	5,126	5,313	6,118	5,517	5,446	5,709	5,645	5,968	5,693	6,829	6,554	5,609	5,226	5,581	5,945	5,302	5,486	5,699	5,676	5,449	5,797	5,589	5,641	5,400	5,667	5,613	5,550	5,674	5,692	5,532	6,222	6,724	6,829	7,338	8,061	8,249
Data processing and software
23,555	23,934	23,457	23,248	22,260	22,216	22,056	21,016	20,690	21,090	19,968	20,035	19,905	10,257	23,663	22,770	22,899	22,274	21,119	21,045	19,506	20,347	19,968	19,578	19,087	19,723	19,987	19,584	18,951	18,768	19,279	18,282	17,469	17,873	16,232	17,531	16,467	16,999	16,833	17,497	16,606	15,500	15,007
Marketing
5,979	3,951	6,048	6,015	5,900	5,602	4,999	5,142	4,805	3,937	4,676	4,488	3,224	3,431	4,399	4,389	3,813	3,539	4,343	4,307	3,918	3,972	4,074	3,949	3,681	2,921	3,848	4,048	3,359	2,715	4,100	4,469	3,822	3,469	4,545	4,495	4,258	3,377	5,064	5,002	4,718	4,846	4,906
Deposit insurance
-	-	1,621	1,693	-	1,796	3,167	3,126	3,457	3,444	3,479	3,592	3,471	3,443	3,576	3,143	3,165	3,145	2,981	3,019	3,001	2,937	2,899	2,892	2,894	2,814	2,796	2,790	2,767	2,692	2,608	2,618	2,520	2,680	2,772	2,780	4,891	4,801	4,756	4,939	4,750	4,833	12,969
Community Service
-	-	564	641	-	480	580	656	729	25,511	3,006	2,916	2,944	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Visa litigation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-1,359	-	0	-1,683	0	-	-
Indemnification obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,496	-
Other
14,000	13,857	13,154	16,910	20,003	16,700	16,737	15,493	15,374	17,046	15,239	15,378	15,703	1,691	19,424	20,413	17,971	19,091	20,440	16,533	17,501	21,562	17,957	20,123	20,218	17,772	17,030	19,264	17,572	17,344	16,148	21,689	15,045	1,532	21,923	21,877	19,165	15,537	18,972	18,650	16,875	18,420	15,258
Total non-interest expense
193,698	195,174	191,020	189,779	191,425	188,625	185,059	181,860	182,277	208,859	179,217	176,890	179,377	153,425	181,242	177,089	177,473	175,777	171,402	165,463	163,845	170,515	161,840	162,553	161,962	160,353	156,312	156,966	155,037	158,277	153,391	156,340	150,461	156,030	153,746	153,513	153,960	164,031	155,586	155,793	155,724	154,489	160,011
Income before income taxes
59,776	135,492	139,181	137,198	119,915	137,297	140,716	140,831	125,319	115,087	106,520	112,190	96,609	104,671	100,092	101,350	94,892	92,086	93,182	107,815	90,482	93,230	100,505	96,590	94,108	97,149	101,209	96,221	89,733	94,231	98,941	105,702	99,734	92,561	97,708	102,309	88,457	86,657	82,033	87,246	62,188	74,879	52,077
Less income taxes
10,173	28,214	29,101	28,899	22,860	26,537	26,647	29,507	23,258	20,104	32,294	33,201	24,907	32,297	30,942	31,542	29,370	27,661	27,969	32,492	28,468	29,488	31,484	30,690	29,987	31,324	32,764	30,182	28,925	27,628	32,155	34,466	32,920	29,514	31,699	32,692	27,507	24,432	26,012	27,428	18,377	23,415	15,257
Net income
49,603	107,278	110,080	108,299	97,055	110,760	114,069	111,324	102,061	94,983	74,226	78,989	71,702	72,374	69,150	69,808	65,522	64,425	65,213	75,323	62,014	63,742	69,021	65,900	64,121	65,825	68,445	66,039	60,808	66,603	66,786	71,236	66,814	63,047	66,009	69,617	60,950	62,225	56,021	59,818	43,811	51,464	36,820
Less non-controlling interest expense (income)
-2,254	398	838	328	-83	1,108	1,493	994	1,077	628	-338	29	198	795	605	-85	148	715	601	970	959	1,017	836	-631	-192	-90	221	234	-209	-188	780	503	1,015	1,543	657	583	497	304	136	84	-359	-185	-148
Net income attributable to Commerce Bancshares, Inc.
51,857	106,880	109,242	107,971	97,138	109,652	112,576	110,330	100,984	94,355	74,564	78,960	71,504	71,579	68,545	69,893	65,374	63,710	64,612	74,353	61,055	62,725	68,185	66,531	64,313	65,915	68,224	65,805	61,017	66,791	66,006	70,733	65,799	61,504	65,352	69,034	60,453	61,921	55,885	59,734	44,170	51,649	36,968
Preferred Stock Dividends
2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	2,250	1,800	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Available to Common Stockholders
49,607	104,630	106,992	105,721	94,888	107,402	110,326	108,080	98,734	92,105	72,314	76,710	69,254	69,329	66,295	67,643	63,124	61,460	62,362	72,103	58,805	60,475	66,385	66,531	64,313	-	68,224	65,805	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income per common share — basic
0.44	0.84	0.98	0.96	0.81	0.78	0.99	0.96	0.88	0.59	0.68	0.71	0.65	0.44	0.65	0.67	0.62	0.40	0.63	0.72	0.58	0.38	0.69	0.67	0.64	0.43	0.71	0.69	0.64	0.46	0.71	0.77	0.70	0.43	0.72	0.76	0.66	0.48	0.63	0.69	0.50	0.63	0.46
Net income per common share — diluted
0.44	0.83	0.98	0.96	0.81	0.78	0.98	0.96	0.88	0.59	0.67	0.71	0.65	0.44	0.65	0.66	0.62	0.39	0.63	0.72	0.58	0.38	0.69	0.66	0.64	0.43	0.71	0.69	0.63	0.45	0.72	0.76	0.70	0.43	0.72	0.75	0.66	0.47	0.64	0.68	0.50	0.63	0.46