Commerce Bank Q4 2021 Earnings Report
Key Takeaways
Commerce Bancshares, Inc. reported Q4 earnings of $0.94 per share, with a net income of $114.9 million. The results reflect a strong quarter with growth in trust fees and bank card transaction fees, but were impacted by net investment securities losses and a decrease in net interest income.
Earnings per share were reported at $0.94, compared to $1.05 in the same quarter last year.
Net income amounted to $114.9 million, a decrease from $129.9 million in the fourth quarter of 2020.
Trust fees increased by 16.5% over the fourth quarter of 2020, driven by rising market values and customer attraction.
Bank card transaction fees grew by 12% compared to the same period last year, reflecting increased corporate and retail spending.
Commerce Bank
Commerce Bank
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.