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Sep 30, 2023
Commerce Bank Q3 2023 Earnings Report
Commerce Bancshares, Inc. reported earnings for the third quarter of 2023.
Key Takeaways
Commerce Bancshares, Inc. reported earnings of $0.96 per share for the three months ended September 30, 2023. Net income for the third quarter of 2023 amounted to $120.6 million. The return on average assets was 1.49%, the return on average equity was 17.73%, and the efficiency ratio was 58.2%.
Net income for the third quarter of 2023 amounted to $120.6 million.
Net interest income was $248.5 million, a $991 thousand decrease from the prior quarter.
Non-interest income totaled $142.9 million, an increase of $4.4 million compared to the same quarter last year.
Average loan balances totaled $17.0 billion, an increase of $299.3 million, or 1.8%, over the prior quarter.
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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