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CBSH

Commerce Bancshares, Inc.

CBSH

Commerce Bancshares, Inc. • NASDAQ
$53.91 ▲ 0.28% (+0.15)
Market Cap $7.16 B
52w High $70.39
52w Low $51.12
Dividend Yield 1.08%
P/E 12.87
Volume 593.57K
Outstanding Shares 132.81M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $543.501M ▲ $244.018M ▼ $141.518M ▼ 26.038% ▼ $1.07 ▼ $198.828M ▼
Q2-2025 $537.249M ▲ $244.437M ▲ $153.763M ▲ 28.62% ▲ $1.14 ▲ $210.144M ▲
Q1-2025 $515.723M ▼ $238.376M ▲ $131.592M ▼ 25.516% ▼ $0.98 ▼ $181.318M ▼
Q4-2024 $525.818M ▼ $235.718M ▼ $136.108M ▼ 25.885% ▲ $1.01 ▼ $187.397M ▼
Q3-2024 $534.965M $237.6M $138.007M 25.797% $1.02 $192.221M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.253B ▼ $32.289B ▲ $28.496B ▼ $3.772B ▲
Q2-2025 $12.062B ▲ $32.284B ▼ $28.624B ▼ $3.641B ▲
Q1-2025 $6.239B ▼ $32.365B ▲ $28.867B ▲ $3.478B ▲
Q4-2024 $12.51B ▲ $31.997B ▲ $28.664B ▲ $3.31B ▼
Q3-2024 $12.318B $31.494B $28.04B $3.432B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $143.622M ▼ $129.02M ▲ $-149.547M ▼ $-171.587M ▲ $-192.114M ▼ $113.276M ▲
Q2-2025 $153.763M ▲ $111.192M ▼ $122.693M ▲ $-361.455M ▼ $-127.57M ▼ $100.511M ▼
Q1-2025 $130.633M ▼ $138.604M ▲ $-373.425M ▲ $132.734M ▼ $-102.087M ▼ $126.018M ▲
Q4-2024 $137.244M ▼ $-136.655M ▼ $-484.893M ▼ $847.43M ▲ $225.882M ▼ $-150.674M ▼
Q3-2024 $140.263M $431.679M $-236.967M $410.608M $605.32M $419.069M

Revenue by Products

Product Q1-2018Q2-2018Q3-2018Q4-2018
Commission Income
Commission Income
 $0 ▲$0 ▲$0 ▲$0 ▲
Managed Account Services
Managed Account Services
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Commerce Bancshares shows a pattern of steady, measured growth rather than rapid swings. Revenue has trended upward over the past five years, and profit levels have generally kept pace, indicating that the bank has been able to grow without sacrificing overall profitability. Margins remain healthy for a regional bank, with operating and net income holding up even through shifting interest rate environments. Earnings per share have moved higher compared with a few years ago, though they have been more or less flat over the past couple of years, which suggests that most of the easy efficiency gains are already captured. The bank appears to be managing credit costs and expenses well, but future profit growth will likely depend more on loan growth, fee income, and continued success in payments and wealth management than on cost-cutting alone.

Balance Sheet

Balance Sheet The balance sheet looks conservative and generally well-balanced. Total assets have stayed in a relatively tight range, which points to disciplined growth instead of aggressive expansion. Cash and liquid assets dipped earlier in the period but have since been rebuilt, giving the bank more flexibility and a stronger liquidity cushion. Debt levels appear manageable relative to the size of the balance sheet, and shareholder equity has recovered after a prior soft patch, which suggests that capital strength has been rebuilt. Overall, the bank seems to be prioritizing stability and resilience, though, as with all regional banks, it remains exposed to broader credit and interest rate cycles and to the health of its core geographies.

Cash Flow

Cash Flow Cash generation from the core business has been consistently positive, which is important for a bank that aims to self-fund growth, dividends, and investments. Operating cash flow has held up well over multiple years, including through more volatile periods in the banking sector. Free cash flow has also remained solid after modest investment spending, with capital expenditures relatively low and predictable. This pattern indicates a business model that does not require heavy ongoing reinvestment to maintain operations, freeing up cash for technology upgrades, strategic deals, and ongoing shareholder returns. The main cash-flow risks are macro-driven: loan demand, credit quality, and interest rate shifts can all affect future cash generation.

Competitive Edge

Competitive Edge Commerce Bancshares positions itself as a “super community bank,” combining the relationship focus of a smaller community bank with the product range and technology of a larger regional player. This model, along with its very long operating history and reputation for prudence, creates a meaningful competitive edge in its core Midwestern footprint. The bank’s diversification across consumer banking, commercial banking, payments, and wealth management adds resilience, as it is not overly reliant on a single line of business. Longstanding dividend growth and stable credit performance also support its image as a conservative, well-managed institution. Risks on the competitive front include intense pressure from national banks, digital-only competitors, and fintechs in areas like payments and small-business services. Maintaining its relationship-driven edge while scaling digital offerings will be critical to sustaining its moat.

Innovation and R&D

Innovation and R&D Innovation at Commerce Bancshares is focused and practical rather than flashy. The CommercePayments suite, embedded banking integrations with systems like QuickBooks and Sage, and the use of partners such as FISPAN show a clear strategy: make it easier for business customers to move money, reconcile accounts, and manage risk directly within the tools they already use. The multi-year core system modernization with Temenos is a major undertaking aimed at improving flexibility, speeding up product launches, and gaining a fuller view of each customer. This kind of core upgrade can be a powerful long-term advantage but also carries execution and transition risks. Partnerships with venture platforms like SixThirty, early moves into instant payments (including FedNow), and plans to link Visa+ with its PreferPay platform point to a bank intent on staying at the forefront of digital and real-time payments. The pending FineMark acquisition also extends its wealth and family office capabilities into attractive markets, though integration quality will determine how much value is ultimately realized.

Summary

Commerce Bancshares comes across as a steady, conservatively run regional bank that has layered a clear technology and payments strategy on top of a relationship-centric banking model. The income statement and cash flows reflect consistent, disciplined performance rather than boom-and-bust growth, while the balance sheet emphasizes capital strength and liquidity. Its competitive position benefits from a well-established brand, diversified revenue streams, and a “super community bank” approach that prioritizes long-term customer relationships. At the same time, the bank is investing meaningfully in modern core systems, embedded banking, real-time payments, and expanded wealth management – all of which could support future growth if executed well. Key uncertainties center on the usual banking risks – credit quality, interest rate shifts, and regional economic health – along with the complexity of technology transformations and acquisitions. Overall, the story is one of measured growth, operational discipline, and targeted innovation rather than aggressive expansion.

NEWS

November 3, 2025 · 4:40 PM UTC

Commerce Bancshares, Inc. Stock Repurchase Program

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October 31, 2025 · 1:07 PM UTC

Commerce Bancshares, Inc. Declares Stock Dividend and Quarterly Cash Dividend on Common Stock

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October 16, 2025 · 6:00 AM UTC

Commerce Bancshares, Inc. Reports Third Quarter Earnings Per Share of $1.06

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October 15, 2025 · 4:00 PM UTC

FineMark Shareholders Approve Commerce Bancshares Merger

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