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Sep 30, 2020
Commerce Bank Q3 2020 Earnings Report
Commerce Bancshares Inc. reported earnings for the third quarter of 2020.
Key Takeaways
Commerce Bancshares, Inc. reported a strong rebound in earnings for Q3 2020, with earnings per share of $1.11 and net income of $132.4 million. The results were driven by low provision expense and increases in net interest income, fee income, and investment securities gains.
Earnings per share reached $1.11, up from $0.93 in the same quarter last year.
Net income was $132.4 million, compared to $109.2 million in the third quarter of 2019.
Return on average assets was 1.71%, return on average common equity was 15.21%, and the efficiency ratio was 55.0%.
Net interest income grew by $12.9 million, supported by a larger balance sheet and low funding costs.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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