Commerce Bancshares (NASDAQ:CBSH) reported record quarterly revenue for the period ended Dec. 31, 2025, capping a year of significant expansion and robust capital growth.
The Kansas City-based lender posted fourth-quarter net income of $140.7 million, or $1.01 per diluted share, consistent with the previous quarter and up from $0.96 per share a year ago.
For the full year 2025, Commerce earned $566.3 million, or $4.04 per share, a nearly 10% increase over 2024.
The bank’s performance was driven by a dual-engine growth strategy in both net interest income and fee-based non-interest income.
Efficiency and profitability remained industry-leading, with a full-year return on average assets of 1.79% and a return on average equity of 15.76%.
The quarter also served as the final chapter before the bank’s major strategic pivot: the January 1, 2026, closing of the FineMark Holdings acquisition.
The merger significantly bolsters Commerce’s high-net-worth platform, adding $8.7 billion in wealth assets under administration and expanding its footprint into Arizona and South Carolina.
CEO John Kemper noted that the bank enters 2026 with "robust levels of liquidity," highlighted by a 119-basis-point jump in the tangible common equity ratio to 11.11% and a 17% increase in book value per share to $27.75.