COMMERCE BANCSHARES INC /MO/ — Form 8-K
Filed October 20, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
Commerce Bancshares reported Q3 2026 net income of $155.0M ($1.08 diluted EPS) vs. $159.8M in Q2 2026 and $141.5M in Q3 2025. Net interest income declined $6.2M QoQ to $308.9M; net yield compressed 6 bps to 3.71% (excluding prior-quarter TIPS gains, NIM expanded 5 bps). Loan balances grew 7% annualized; deposits declined $361.6M QoQ to $27.2B average. The company repurchased 1.9M shares at $58.84/share; dividend increased 5% YoY to $0.275/share. FineMark acquisition (closed Jan 2026, added $2.7B loans) is on track for Feb 2027 systems conversion.
Why this rating
Q3 results routine: modest earnings decline from mix headwinds (NII down, deposits soft) offset by fee growth (+1% QoQ) and cost control. Integration execution risk from FineMark is real but guided unchanged. Relative to $7.8B market cap and $34.8B asset base, quarter shows steady management but no material trajectory shift.
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