Commerce Bancshares, Inc. is a regional bank holding company headquartered in Kansas City, Missouri, offering a wide range of banking services, including payment solutions, investment management, and wealth management through its subsidiary, Commerce Bank. The company has established a notable presence across the Midwest and also maintains commercial offices in several major cities across the U.S.

In the first quarter of 2025, Commerce Bancshares reported earnings per share of $0.98, which is a rise from $0.82 in the same period a year ago but a decline from $1.01 in the previous quarter. Net income for the period amounted to $131.6 million, compared to $112.7 million in Q1 2024 and $136.1 million in Q4 2024.

Net interest income hit a record $269.1 million during the quarter, representing an increase of $2.5 million, or 0.9%, compared to the previous quarter. The net yield on interest-earning assets rose seven basis points to 3.56%. Non-interest income totaled $158.9 million, up $10.1 million, or 6.8%, from Q1 2024 and an increase of $3.5 million from the prior quarter.

Total average deposits decreased by $83.7 million, or 0.3%, from the previous quarter, while total average available for sale debt securities rose by $66.1 million to $9.2 billion, at fair value. The average loans increased by 1.0%, totaling $17.2 billion compared to the prior quarter. The efficiency ratio improved to 55.6%, down from 61.7% a year ago and slightly better than the previous quarter’s 55.8%.

Non-interest expense decreased by $7.3 million, or 3.0%, compared to the same period last year, totaling $238.4 million. The allowance for credit losses on loans rose to $167.0 million, accounting for 0.96% of total loans, up from $162.7 million in the previous quarter.

At March 31, 2025, total assets increased by $368.3 million, or 1.2%, to $32.4 billion, while average interest-earning assets rose to $30.9 billion. The company’s return on average assets stood at 1.69%, and the return on average equity was 15.82%.

The bank declared a cash dividend of $0.275 per share, marking a 7.0% increase over the same period last year. Commerce Bancshares also repurchased approximately $55 million in common stock during the first quarter of 2025.

In addition to these financial indicators, the company reported non-accrual loans at approximately 0.13% of total loans and net loan charge-offs of 0.25%, which remained stable compared to the previous quarter.