Commerce Bancshares, Inc. (NASDAQ:CBSH) has announced that its fourth quarter earnings per share were $0.60 per share for the period ended December 31, 2009. The year ago period had an earnings per share of $0.63, and $0.55 for the comparable period of 2008. Net income for the quarter was $49.6 million, up from the previously earned $43.8 million during the year ago period, but down from the $51.6 million reported for the year before.
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The full year results showed an earnings per share total of $2.07, down from 2008’s $2.36. Full year net income was $169.1 million, versus the $188.7 earned during the previous year. The full financial results may be obtained online at http://www.commercebank.com/.
Commerce Bancshares, Inc. is a bank holding company. The Company owns all of the outstanding capital stock of one national banking association (the Bank). During the year ended December 31, 2008, the two former banking subsidiaries, located in Kansas and Nebraska, were merged into the Bank. The Bank engages in general banking business, providing a range of retail, corporate, investment, trust, and asset management products and services to individuals and businesses. The Company also owns, directly or through the Bank, various non-banking subsidiaries. Their activities include underwriting credit life and credit accident and health insurance, selling property and casualty insurance (relating to consumer loans made by the Bank), venture capital investment, securities brokerage and leasing activities. During the year ended December 31, 2008, the Company had consolidated assets of $17.5 billion, loans of $11.6 billion, deposits of $12.9 billion, and stockholders’ equity of $1.6 billion.
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