Commerce Bancshares reported strong second-quarter results, with EPS of $1.14 beating estimates by 9.3% and revenue reaching $445.8 million. The company saw growth in net interest income and balance sheet metrics, despite rising expenses. The acquisition of FineMark was announced, expanding the company’s reach. Loan and deposit growth continued, with average total loans at $17.5 billion and average deposits at $24.9 billion. Cost management remained a focus, with the efficiency ratio improving to 54.8%. The company raised its quarterly dividend and repurchased shares. Management emphasized disciplined expense management, loan growth, and customer service as priorities moving forward.

Read more at Nasdaq: Commerce Bancshares Beats Q2 EPS by 9%