XML 22 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements Of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INTEREST INCOME      
Interest and fees on loans $ 984,397 $ 646,293 $ 570,549
Interest on loans held for sale 583 637 880
Interest on investment securities 278,755 313,892 236,278
Interest on federal funds sold 659 412 4
Interest on securities purchased under agreements to resell 13,649 22,647 37,377
Interest on deposits with banks 103,248 15,098 3,202
Total interest income 1,381,291 998,979 848,290
INTEREST EXPENSE      
Savings, interest checking and money market 146,392 25,099 7,509
Certificates of deposit of less than $100,000 38,690 1,469 1,158
Certificates of deposit of $100,000 and over 61,057 3,898 2,577
Interest on federal funds purchased 25,265 1,836 16
Interest on securities sold under agreements to repurchase 73,164 24,022 1,630
Interest on other borrowings 38,594 470 (24)
Total interest expense 383,162 56,794 12,866
Net interest income 998,129 942,185 835,424
Provision for loan losses 35,451 28,071 (66,326)
Net interest income after provision for loan losses 962,678 914,114 901,750
NON-INTEREST INCOME      
Bank card transaction fees 191,156 176,144 167,891
Trust fees 190,954 184,719 188,227
Deposit account charges and other fees 90,992 94,381 97,217
Consumer brokerage services 17,223 19,117 18,362
Capital market fees 14,100 14,231 15,943
Loan fees and sales 11,165 13,141 29,720
Other 57,455 44,802 43,033
Total non-interest income 573,045 546,535 560,393
INVESTMENT SECURITIES GAINS (LOSSES), NET      
Investment securities gains (losses), net [1] 14,985 20,506 30,059
NON-INTEREST EXPENSE      
Salaries and employee benefits 584,063 554,047 525,248
Data processing and software 118,758 110,692 101,792
Net occupancy 53,629 49,117 48,185
Deposit insurance 33,163 10,583 9,094
Marketing 24,511 23,827 21,856
Equipment 19,548 19,359 18,089
Supplies and communication 19,420 18,101 17,118
Other 77,890 63,051 64,519
Total non-interest expense 930,982 848,777 805,901
Income before income taxes 619,726 632,378 686,301
Less income taxes 134,549 132,358 145,711
Net income 485,177 500,020 540,590
Less non-controlling interest expense (income) 8,117 11,621 9,825
NET INCOME ATTRIBUTABLE TO COMMERCE BANCSHARES, INC. $ 477,060 $ 488,399 $ 530,765
Net income per common share - basic (in dollars per share) $ 3.64 $ 3.68 $ 3.92
Net income per common share - diluted (in dollars per share) $ 3.64 $ 3.67 $ 3.91
[1] Available for sale debt securities, equity securities, and other securities.