Commerce Bancshares Q4 Results Top Estimates

(RTTNews) - Commerce Bancshares, Inc. (CBSH) reported Thursday net income attributable to Commerce Bancshares for the fourth quarter of $140.66 million or $1.01 per share, up from $136.11 million or $0.96 per share in the prior-year quarter.

On average, eight analysts polled by Thomson-Reuters expected the company to report earnings of $1.00 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income grew to $283.15 million from $266.65 million last year and noninterest income was $166.21 million, up from $155.44 million a year ago.

Total revenue for the quarter increased to $449.36 million from $422.08 million in the same quarter last year. The consensus estimate was for $442.62 million.

Provision for credit losses was $15.99 million, compared to $13.51 million in the year-ago period.

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