Commerce Bank Q4 2022 Earnings Report
Key Takeaways
Commerce Bancshares, Inc. reported strong Q4 2022 results, with earnings per share of $1.04 and net income of $131.6 million. The company benefited from loan growth, margin expansion, and resilient fee-based income, leading to record quarterly revenue. The net yield on interest earning assets increased to 3.18%.
Earnings per share reached $1.04, compared to $0.90 in the same quarter last year.
Net income amounted to $131.6 million, up from $114.9 million in Q4 2021.
Net interest income was $254.6 million, an increase of $8.3 million over the prior quarter.
Non-interest income totaled $136.8 million, a decrease of $1.7 million compared to the prior quarter.
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.