Commerce Bancshares, Inc. (OQ:CBSH)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1000 Walnut, P.O. Box 419248 KANSAS CITY MO 64141-6248 |
| Tel: | 1-314-7467485 |
| Website: | https://www.commercebank.com |
| IR: | See website |
| Key People | ||
| David W. Kemper Executive Chairman of the Board | Richard W. Heise Senior Vice President | John W. Kemper President, Chief Executive Officer, Director |
| Charles G. Kim Chief Financial Officer, Executive Vice President | Kevin G. Barth Executive Vice President | John K. Handy Executive Vice President |
| Robert S. Holmes Executive Vice President | David L. Orf Chief Credit Officer, Executive Vice President | Paula S. Petersen Executive Vice President | Derrick R. Brooks Senior Vice President |
| Business Overview |
| Commerce Bancshares, Inc. is a bank holding company of Commerce Bank (the Bank). The Bank is engaged in the general banking business, providing a range of retail, mortgage banking, corporate, investment, trust, and asset management products and services. It operates over 257 locations in Missouri, Kansas, Illinois, Oklahoma and Colorado. The Company's segments include Commercial, Consumer and Wealth. The Commercial segment offers corporate lending, merchant and commercial bank card products, payment solutions, leasing, and international services, as well as business and government deposit, investment, institutional brokerage and others. The Consumer segment includes the retail branch network, consumer installment lending, personal mortgage banking, and consumer debit and credit bank card activities. The Wealth segment provides traditional trust and estate planning services, consumer brokerage services, and advisory and discretionary investment portfolio management services. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Commerce Bancshares, Inc. interest income increased 38% to $1.38B. Net interest income after loan loss provision increased 5% to $962.7M. Net income applicable to common stockholders decreased 2% to $472.8M. Net interest income after loan loss provision reflects Consumer segment increase of 24% to $441.3M, Net Interest Margin, Total -% increase of 11% to 3.16%. Net income was offset by Savings. |
| Employees: | 4,592 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $9,360M as of Dec 31, 2023 |
| Annual revenue (TTM): | $1,381M as of Dec 31, 2023 |
| EBITDA (TTM): | $707.83M as of Dec 31, 2023 |
| Net annual income (TTM): | $472.82M as of Dec 31, 2023 |
| Free cash flow (TTM): | $265.96M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $2,467M as of Dec 31, 2023 |
| Shares outstanding: | 129,694,606 as of Mar 31, 2024 |
| Index Membership: | S&P 400 Mid Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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