Commerce Bancshares Q3 profit rallies to $155 million

• Commerce Bancshares reported third-quarter 2026 net income of $155 million, up 9.5% year over year, while diluted earnings rose to $1.08 per share from the restated $1.01 comparison.
• Total revenue reached $494.4 million, including $308.9 million in net interest income and $185.5 million in noninterest income, while average loans increased to $20.7 billion.
• Commerce repurchased approximately 1.9 million shares during the quarter, while maintaining a quarterly return on average assets of 1.79% and return on average equity of 14.17%.

Commerce Bancshares (NASDAQ:CBSH) reported third-quarter 2026 net income of $155 million, up 9.5% year over year, with diluted earnings increasing to $1.08 per share.

However, net income declined from $159.8 million in the second quarter, while diluted EPS fell from $1.10, despite stronger annual profitability.

Net interest income totaled $308.9 million, noninterest income reached $185.5 million, and noninterest expenses declined 3.7% sequentially to $285.9 million.

Commerce repurchased approximately 1.9 million shares at an average price of $58.84 during the quarter, while reporting a 56.69% efficiency ratio.

Average loans increased $172.3 million to $20.7 billion, while average deposits declined 1.3% to $27.2 billion and net interest yield fell to 3.71%.

For the first nine months of 2026, net income rose to $456.4 million from $425.6 million, while diluted earnings increased to $3.14 per share.