Commerce Bank Q2 2020 Earnings Report
Key Takeaways
Commerce Bancshares, Inc. announced earnings of $.34 per common share for the three months ended June 30, 2020, compared to $.91 per share in the same quarter last year. Net income attributable to Commerce Bancshares, Inc. for the second quarter of 2020 amounted to $39.9 million, compared to $108.0 million in the second quarter of 2019.
Earnings per share were $.34, down from $.91 in the same quarter last year.
Net income amounted to $39.9 million, a decrease from $108.0 million in the prior year quarter.
Return on average assets was .54%, and return on average common equity was 4.77%.
Net interest margin declined 39 basis points due to declining interest rates and rapid deposit growth.
Commerce Bank
Commerce Bank
Commerce Bank Revenue by Segment
Forward Guidance
This information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include future financial and operating results, expectations, intentions and other statements that are not historical facts. Such statements are based on current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements.