Commerce Bancshares, Inc. has announced its third quarter earnings for 2026, reporting earnings per share of $1.08. This figure represents an increase from $1.01 per share in the same quarter last year, although it is slightly down from $1.10 per share in the previous quarter. The bank's net income for the quarter reached $155 million, compared to $141.5 million in the third quarter of 2025.
The results underscore the bank's strong profitability and continued growth in its loan portfolio, which has been a key focus area. John Kemper, Chief Executive Officer, stated, "Commerce delivered another solid quarter, with strong profitability, broad-based loan growth, continued momentum across our fee businesses and excellent credit quality." He further noted that the ending loan balances grew at an annualized rate of more than 7% during the quarter, driven by strength in the commercial and wealth segments.
Commerce Bancshares, Inc. operates under the SIC classification of State Commercial Banks, which indicates its role in providing a range of banking services to customers in Missouri and beyond. The company, with ticker symbol CBSH, is listed on the Nasdaq exchange. The recent SEC filing, dated October 20, 2026, serves as a formal report of the company's financial condition and operational results.
According to the filing, the bank's net interest income stood at $308.9 million, reflecting a decrease of $6.2 million from the previous quarter. The net yield on interest-earning assets also saw a slight decline, decreasing by six basis points to 3.71%. However, non-interest income increased to $185.5 million, which is a 0.9% rise over the prior quarter and represents 37.5% of total revenue.
In terms of expenses, Commerce Bancshares reported a decrease in non-interest expenses, totaling $285.9 million, down by $11.1 million or 3.7% from the previous quarter. The bank's average loan balances increased by $172.3 million, or 0.8%, to reach $20.7 billion. However, total average deposits decreased by $361.6 million, or 1.3%, to $27.2 billion.
The filing also highlights the bank's ongoing commitment to capital management, with approximately 1.9 million shares repurchased during the quarter. This approach allows Commerce Bancshares to support customer growth while maintaining strong capital levels. Kemper emphasized the importance of their diversified business model, stating, "This balanced revenue mix remains an important source of strength for Commerce and supports consistent performance over time."
Looking forward, the company did not specify any immediate next steps following this filing. However, it remains clear that Commerce Bancshares is focused on maintaining its strong financial position while navigating the competitive landscape of state commercial banking.