CBSH earnings analysis
What we found in CBSH's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Commerce Bancshares reported a strong Q1 2026 with revenue of $475.7 million, surpassing estimates by 0.2%. The earnings per share was $0.96, exceeding expectations. However, non-interest expenses saw a notable increase due to acquisition-related costs, leading to a significant rise in operating expenses compared to the previous year.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Exceeds Estimates
- Q1 2026 revenue was $475.7M, surpassing the estimate of $474.7M by 0.2%.
- EPS Beat Estimates
- Reported EPS for Q1 2026 was $0.96 versus an estimate of $0.93.
- Increase in Net Interest Income
- Net interest income rose by $30.7 million, or 11.4%, to $299.8 million year-over-year.
- Strong Non-Interest Income Growth
- Non-interest income grew by 10.6% to $175.9 million, driven by higher trust and deposit account fees.
- Reduced Provision for Credit Losses
- Provision for credit losses decreased by 24.3% to $(10.96M), indicating improved asset quality.
- Successful FineMark Acquisition
- Acquisition added approximately $3.9B in assets, with $2.7B in loans contributing to growth.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Rising Non-Interest Expense
- Non-interest expenses increased by 22.1%, totaling $291.1 million, primarily due to acquisition-related costs.
- Higher Loan Charge-Offs
- Net loan charge-offs increased to $15.0 million, impacting overall profitability.
- Integration Risks Post-Acquisition
- The FineMark acquisition may lead to potential difficulties in integration and customer retention.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.96
- Segment
- Retail Banking: $122.6M
- Segment
- Commercial: $133.6M
- Segment
- Wealth Management: $46.1M
What they said about what is next.
Forward guidance deferred to earnings press release / call.
The filing reads better than the one before it.
What came before.
- 10-K · February 24, 2026
- Commerce Bancshares completed the FineMark acquisition (effective Jan 1, 2026) and enters 2026 with larger scale and a stronger wealth footprint. The company reported stable margin and EPS trends through 2025 (2025Q4…
- 10-Q · August 6, 2025
- Commerce Bancshares, Inc. reported a strong Q2 2025, with revenue rising to $538 million, an increase of 2.9% from the prior quarter and 2.5% year-over-year. EPS reached $1.14, exceeding estimates of $1.03 and…
- 10-Q · August 4, 2023
- Commerce Bancshares delivered a quarter with revenue (net interest income + non-interest income) of $397.143M and diluted EPS of $1.02, both ahead of prior-year quarter. Net income attributable to Commerce rose to…
- 10-Q · May 4, 2023
- Commerce Bancshares reported total revenue of $389,235,000 for the quarter ended March 31, 2023, up from $340,555,000 in Q1 2022, driven by higher interest income. Net income attributable to Commerce Bancshares, Inc.…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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