Commerce Bancshares, Inc. (NASDAQ:CBSH) posted fourth-quarter results on Thursday that came in just ahead of market expectations, helped by record revenue supported by both interest income and fees.
The regional lender reported earnings of $1.01 per share for the quarter, slightly above the $1.00 consensus forecast. Shares were little changed in after-hours trading following the release.
Quarterly revenue climbed to $449.36 million, topping analysts’ estimates of $442.83 million. Net income rose to $140.7 million, up from $136.1 million in the same period a year earlier.
Net interest income increased by $3.7 million from the previous quarter to $283.2 million, although the net yield on interest-earning assets slipped four basis points to 3.60%. Non-interest income grew 6.9% year on year to $166.2 million, driven in part by a 10.3% rise in trust fees.
“Commerce delivered record revenues in the fourth quarter, driven by strong performance across both net interest income and non-interest income,” said John Kemper, President and Chief Executive Officer. “Our overall results for the quarter and the full year are a reflection of the strength and diversity of our businesses.”
Average loans stood at $17.7 billion, up 1.0% from the prior quarter, while average deposits increased by $816 million, or 3.3%. Credit quality remained solid, with non-accrual loans representing just 0.09% of total loans.
For the full year 2025, Commerce Bancshares reported earnings per share of $4.04, compared with $3.69 in 2024, while net income rose to $566.3 million from $526.3 million a year earlier.
The bank also confirmed it completed the acquisition of FineMark Holdings on January 1, 2026, adding $2.7 billion in loans, $3.1 billion in deposits, and $8.7 billion in wealth assets under administration.