merce Bancshares(US:CBSH)2026-01-22 14:15Financial Performance - Earnings per share for Q4 2025 were $1.01, up from $0.96 in Q4 2024, with net income of $140.7 million compared to $136.1 million in the same quarter last year [1][2]. - For the full year 2025, earnings per share totaled $4.04, an increase of 9.5% from $3.69 in 2024, with net income amounting to $566.3 million, up from $526.3 million [2]. - Net income attributable to Commerce Bancshares, Inc. for Q4 2025 was $140,662,000, compared to $136,108,000 in Q4 2024, reflecting a year-over-year increase of 3.9% [15]. - For the quarter ended December 31, 2025, net income was $140.7 million, a slight decrease from $141.5 million in the previous quarter and an increase from $136.1 million year-over-year [27]. Income and Revenue - Net interest income for Q4 2025 was $283.2 million, a $3.7 million increase from the prior quarter, while non-interest income rose to $166.2 million, a 6.9% increase year-over-year [6]. - Total non-interest income for Q4 2025 reached $166,208,000, up from $155,436,000 in Q4 2024, indicating a growth of 6.9% [15]. - Net interest income for the 4th quarter amounted to $283.2 million, an increase of $3.7 million from the previous quarter [31]. Assets and Loans - Total assets as of December 31, 2025, were $32,915,089,000, an increase from $31,996,627,000 a year earlier, representing a growth of 2.9% [19]. - Total loans stood at $17,771,263,000 as of December 31, 2025, compared to $17,220,103,000 at the end of 2024, marking a year-over-year increase of 3.2% [19]. - Average loan balances increased by 1.0% to $17.7 billion, while total average deposits rose by $816.0 million, or 3.3%, over the prior quarter [9]. - Total loans increased to $17,660,839 thousand, up 0.95% from $17,494,351 thousand in the previous quarter [21]. Expenses and Efficiency - Non-interest expense for Q4 2025 totaled $253.0 million, reflecting a 7.3% increase compared to the same quarter last year [9]. - The efficiency ratio for Q4 2025 was 56.2%, indicating operational efficiency in managing expenses relative to revenue [9]. - The efficiency ratio improved to 56.23% in Q4 2025 from 55.77% in Q4 2024, indicating better cost management [15][16]. Credit Quality - Non-accrual loans remained low at 0.09% of total loans, down two basis points from the same period last year, indicating strong credit quality [4]. - The provision for credit losses was $15,993,000 in Q4 2025, up from $13,508,000 in Q4 2024, indicating a cautious approach to credit risk management [15]. - Net loan charge-offs in the 4th quarter of 2025 amounted to $9.9 million, a decrease from $10.3 million in the prior quarter and $10.7 million in the same period last year, with an annualized net loan charge-off ratio of 0.22% [46]. - Total non-accrual loans amounted to $15.8 million, a decrease of $503 thousand compared to the previous quarter, representing 0.09% of loans outstanding [49]. Dividends and Shareholder Returns - The Company distributed a 5% stock dividend and paid a cash dividend of $0.262 per common share, a 7% increase over the same period last year [51]. Acquisitions - The company completed the acquisition of FineMark Holdings on January 1, 2026, which added $2.7 billion in loans and $3.1 billion in deposits [4]. - The Company closed on its acquisition of FineMark Holdings, Inc., which had loans and deposits of $2.7 billion and $3.1 billion, respectively, as of December 31, 2025 [52]. Forward-Looking Statements - Forward-looking statements indicate that actual results may differ materially from expectations due to significant risks and uncertainties [53].