Attached files
| file | filename |
|---|---|
| 8-K/A - FORM 8K/A - COMMERCE BANCSHARES INC /MO/ | cbsh063020128ka.htm |
| EX-99.1 - EXHIBIT 99.1 - COMMERCE BANCSHARES INC /MO/ | cbsh6302012aex991.htm |
Exhibit 99.2
COMMERCE BANCSHARES, INC. and SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
For the Three Months Ended | For the Six Months Ended | |||||||||||||||||||
(Unaudited) (In thousands, except per share data) | March 31, 2012 | June 30, 2012 | June 30, 2011 | June 30, 2012 | June 30, 2011 | |||||||||||||||
Interest income | $169,966 | $174,624 | $178,087 | $344,590 | $353,913 | |||||||||||||||
Interest expense | 10,229 | 9,519 | 13,377 | 19,748 | 28,230 | |||||||||||||||
Net interest income | 159,737 | 165,105 | 164,710 | 324,842 | 325,683 | |||||||||||||||
Provision for loan losses | 8,165 | 5,215 | 12,188 | 13,380 | 27,977 | |||||||||||||||
Net interest income after provision for loan losses | 151,572 | 159,890 | 152,522 | 311,462 | 297,706 | |||||||||||||||
NON-INTEREST INCOME | ||||||||||||||||||||
Bank card transaction fees | 34,733 | 38,434 | 41,304 | 73,167 | 78,766 | |||||||||||||||
Trust fees | 22,814 | 23,833 | 22,544 | 46,647 | 44,116 | |||||||||||||||
Deposit account charges and other fees | 19,336 | 19,975 | 20,789 | 39,311 | 40,089 | |||||||||||||||
Capital market fees | 6,871 | 5,010 | 4,979 | 11,881 | 9,699 | |||||||||||||||
Consumer brokerage services | 2,526 | 2,576 | 2,880 | 5,102 | 5,543 | |||||||||||||||
Loan fees and sales | 1,561 | 1,706 | 2,075 | 3,267 | 3,899 | |||||||||||||||
Other | 6,742 | 9,282 | 6,773 | 16,024 | 15,138 | |||||||||||||||
Total non-interest income | 94,583 | 100,816 | 101,344 | 195,399 | 197,250 | |||||||||||||||
INVESTMENT SECURITIES GAINS (LOSSES), NET | ||||||||||||||||||||
Impairment (losses) reversals on debt securities | 5,587 | 3 | (2,119 | ) | 5,590 | 4,186 | ||||||||||||||
Noncredit-related losses (reversals) on securities not expected to be sold | (5,907 | ) | (353 | ) | 1,469 | (6,260 | ) | (5,110 | ) | |||||||||||
Net impairment losses | (320 | ) | (350 | ) | (650 | ) | (670 | ) | (924 | ) | ||||||||||
Realized gains on sales and fair value adjustments | 4,360 | 1,686 | 2,606 | 6,046 | 4,207 | |||||||||||||||
Investment securities gains, net | 4,040 | 1,336 | 1,956 | 5,376 | 3,283 | |||||||||||||||
NON-INTEREST EXPENSE | ||||||||||||||||||||
Salaries and employee benefits | 89,543 | 87,511 | 84,223 | 177,054 | 171,615 | |||||||||||||||
Net occupancy | 11,260 | 11,105 | 11,213 | 22,365 | 23,250 | |||||||||||||||
Equipment | 5,189 | 4,999 | 5,702 | 10,188 | 11,279 | |||||||||||||||
Supplies and communication | 5,613 | 5,667 | 5,692 | 11,280 | 11,224 | |||||||||||||||
Data processing and software | 17,469 | 18,282 | 17,531 | 35,751 | 33,998 | |||||||||||||||
Marketing | 3,822 | 4,469 | 4,495 | 8,291 | 8,753 | |||||||||||||||
Deposit insurance | 2,520 | 2,618 | 2,780 | 5,138 | 7,671 | |||||||||||||||
Visa litigation | — | 5,690 | — | 5,690 | (1,359 | ) | ||||||||||||||
Other | 15,045 | 15,999 | 21,877 | 31,044 | 41,042 | |||||||||||||||
Total non-interest expense | 150,461 | 156,340 | 153,513 | 306,801 | 307,473 | |||||||||||||||
Income before income taxes | 99,734 | 105,702 | 102,309 | 205,436 | 190,766 | |||||||||||||||
Less income taxes | 32,920 | 34,466 | 32,692 | 67,386 | 60,199 | |||||||||||||||
Net income | 66,814 | 71,236 | 69,617 | 138,050 | 130,567 | |||||||||||||||
Less non-controlling interest expense | 1,015 | 503 | 583 | 1,518 | 1,080 | |||||||||||||||
Net income attributable to Commerce Bancshares, Inc. | $65,799 | $70,733 | $69,034 | $136,532 | $129,487 | |||||||||||||||
Net income per common share — basic | $.74 | $.80 | $.76 | $1.54 | $1.42 | |||||||||||||||
Net income per common share — diluted | $.74 | $.80 | $.75 | $1.54 | $1.41 | |||||||||||||||