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Consolidated Statements Of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME        
Interest and fees on loans $ 113,467 $ 111,496 $ 224,753 $ 222,198
Interest and fees on loans held for sale 39 0 60 0
Interest on investment securities 53,264 53,016 91,700 98,035
Interest on federal funds sold and short-term securities purchased under agreements to resell 15 24 24 50
Interest on long-term securities purchased under agreements to resell 3,670 2,943 6,721 7,094
Interest on deposits with banks 122 88 301 188
Total interest income 170,577 167,567 323,559 327,565
INTEREST EXPENSE        
Savings, interest checking and money market 3,287 3,358 6,595 6,664
Time open and C.D.'s of less than $100,000 818 1,063 1,698 2,183
Time open and C.D.'s of $100,000 and over 1,504 1,515 2,914 2,967
Interest on federal funds purchased and securities sold under agreements to repurchase 421 263 788 466
Interest on other borrowings 890 875 1,769 1,726
Total interest expense 6,920 7,074 13,764 14,006
Net interest income 163,657 160,493 309,795 313,559
Provision for loan losses 6,757 7,555 11,177 17,215
Net interest income after provision for loan losses 156,900 152,938 298,618 296,344
NON-INTEREST INCOME        
Bank card transaction fees 45,672 44,444 87,971 86,161
Trust fees 30,531 27,765 60,117 54,338
Deposit account charges and other fees 19,637 19,709 38,136 38,299
Capital market fees 2,738 3,246 5,740 7,116
Consumer brokerage services 3,364 2,972 6,552 5,719
Loan fees and sales 2,183 1,211 4,272 2,420
Other 9,967 9,416 17,730 17,337
Total non-interest income 114,092 108,763 220,518 211,390
INVESTMENT SECURITIES GAINS (LOSSES), NET        
Change in fair value of other-than-temporary impaired securities (88) (785) (315) (848)
Portion recognized in other comprehensive income (378) 154 (168) (129)
Net impairment gains (losses) recognized in earnings (466) (631) (483) (977)
Realized gains (losses) on sales and fair value adjustments 2,609 (1,927) 8,661 8,456
Investment securities gains (losses), net 2,143 (2,558) 8,178 [1] 7,479 [1]
NON-INTEREST EXPENSE        
Salaries and employee benefits 99,655 94,849 197,729 189,112
Net occupancy 10,999 11,151 22,560 22,767
Equipment 4,679 4,525 9,382 9,029
Supplies and communication 5,226 5,486 10,807 11,185
Data processing and software 21,045 19,578 40,551 38,665
Marketing 4,307 3,949 8,225 7,630
Deposit insurance 3,019 2,892 6,020 5,786
Other 16,390 20,123 33,743 40,341
Total non-interest expense 165,320 162,553 329,017 324,515
Income before income taxes 107,815 96,590 198,297 190,698
Less income taxes 32,492 30,690 60,960 60,677
Net income 75,323 65,900 137,337 130,021
Less non-controlling interest expense 970 (631) 1,929 (823)
Net income attributable to Commerce Bancshares, Inc. 74,353 66,531 135,408 130,844
Preferred Stock Dividends 2,250 0 4,500 0
Net Income (Loss) Available to Common Stockholders $ 72,103 $ 66,531 $ 130,908 $ 130,844
Net income per common share - basic $ 0.75 $ 0.67 $ 1.36 $ 1.31
Net income per common share - diluted $ 0.75 $ 0.66 $ 1.36 $ 1.30
[1] Available for sale and non-marketable securities