Attached files
| file | filename |
|---|---|
| 8-K/A - FORM 8K/A - COMMERCE BANCSHARES INC /MO/ | cbsh063020128ka.htm |
| EX-99.2 - EXHIBIT 99.2 - COMMERCE BANCSHARES INC /MO/ | cbsh06302012aex992.htm |
Exhibit 99.1
COMMERCE BANCSHARES, INC. and SUBSIDIARIES
FINANCIAL HIGHLIGHTS
For the Three Months Ended | For the Six Months Ended | |||||||||||||||
(Unaudited) | March 31, 2012 | June 30, 2012 | June 30, 2011 | June 30, 2012 | June 30, 2011 | |||||||||||
FINANCIAL SUMMARY (In thousands, except per share data) | ||||||||||||||||
Net interest income | $159,737 | $165,105 | $164,710 | $324,842 | $325,683 | |||||||||||
Taxable equivalent net interest income | 165,666 | 171,186 | 170,779 | 336,852 | 337,258 | |||||||||||
Non-interest income | 94,583 | 100,816 | 101,344 | 195,399 | 197,250 | |||||||||||
Investment securities gains, net | 4,040 | 1,336 | 1,956 | 5,376 | 3,283 | |||||||||||
Provision for loan losses | 8,165 | 5,215 | 12,188 | 13,380 | 27,977 | |||||||||||
Non-interest expense | 150,461 | 156,340 | 153,513 | 306,801 | 307,473 | |||||||||||
Net income attributable to Commerce Bancshares, Inc. | 65,799 | 70,733 | 69,034 | 136,532 | 129,487 | |||||||||||
Cash dividends | 20,438 | 20,216 | 20,056 | 40,654 | 40,110 | |||||||||||
Net total loan charge-offs (recoveries) | 11,165 | 8,214 | 15,188 | 19,379 | 33,977 | |||||||||||
Business | 110 | (3,600 | ) | 1,439 | (3,490 | ) | 3,449 | |||||||||
Real estate — construction and land | 220 | 116 | 1,125 | 336 | 3,111 | |||||||||||
Real estate — business | 1,495 | 1,839 | 339 | 3,334 | 1,403 | |||||||||||
Consumer credit card | 6,173 | 5,930 | 8,490 | 12,103 | 17,528 | |||||||||||
Consumer | 2,631 | 1,974 | 2,229 | 4,605 | 6,242 | |||||||||||
Revolving home equity | 360 | 943 | 344 | 1,303 | 711 | |||||||||||
Real estate — personal | 69 | 679 | 1,027 | 748 | 1,301 | |||||||||||
Overdraft | 107 | 333 | 195 | 440 | 232 | |||||||||||
Per common share: | ||||||||||||||||
Net income — basic | $.74 | $.80 | $.76 | $1.54 | $1.42 | |||||||||||
Net income — diluted | $.74 | $.80 | $.75 | $1.54 | $1.41 | |||||||||||
Cash dividends | $.230 | $.230 | $.219 | $.460 | $.438 | |||||||||||
Diluted wtd. average shares o/s | 88,556 | 87,672 | 91,274 | 88,114 | 91,226 | |||||||||||
RATIOS | ||||||||||||||||
Average loans to deposits (1) | 55.53 | % | 55.26 | % | 60.17 | % | 55.39 | % | 61.30 | % | ||||||
Return on total average assets | 1.29 | % | 1.38 | % | 1.47 | % | 1.34 | % | 1.40 | % | ||||||
Return on total average equity | 12.04 | % | 12.80 | % | 13.12 | % | 12.42 | % | 12.54 | % | ||||||
Non-interest income to revenue (2) | 37.19 | % | 37.91 | % | 38.09 | % | 37.56 | % | 37.72 | % | ||||||
Efficiency ratio (3) | 58.91 | % | 58.53 | % | 57.40 | % | 58.72 | % | 58.50 | % | ||||||
AT PERIOD END | ||||||||||||||||
Book value per share based on total equity | $24.83 | $25.47 | $23.38 | |||||||||||||
Market value per share | $40.52 | $37.90 | $40.95 | |||||||||||||
Allowance for loan losses as a percentage of loans | 1.96 | % | 1.90 | % | 2.07 | % | ||||||||||
Tier I leverage ratio | 9.70 | % | 9.73 | % | 10.32 | % | ||||||||||
Tangible common equity to assets ratio (4) | 10.12 | % | 10.16 | % | 10.27 | % | ||||||||||
Common shares outstanding | 88,583,809 | 87,588,533 | 91,182,081 | |||||||||||||
Shareholders of record | 4,213 | 4,184 | 4,253 | |||||||||||||
Number of bank/ATM locations | 360 | 361 | 364 | |||||||||||||
Full-time equivalent employees | 4,713 | 4,702 | 4,786 | |||||||||||||
OTHER QTD INFORMATION | ||||||||||||||||
High market value per share | $41.28 | $41.00 | $41.81 | |||||||||||||
Low market value per share | $37.57 | $36.17 | $38.14 | |||||||||||||
(1) | Includes loans held for sale. |
(2) | Revenue includes net interest income and non-interest income. |
(3) | The efficiency ratio is calculated as non-interest expense (excluding intangibles amortization) as a percent of revenue. |
(4) | The tangible common equity ratio is calculated as stockholders’ equity reduced by goodwill and other intangible assets (excluding mortgage servicing rights) divided by total assets reduced by goodwill and other intangible assets (excluding mortgage servicing rights). |