Commerce Bancshares Q1 Profit Misses Estimates - Quick Facts

(RTTNews) - Commerce Bancshares, Inc. (CBSH) reported first-quarter earnings of $0.85 per common share, compared to $0.88 per share, last year. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.91 for the quarter. Analysts' estimates typically exclude special items.

First-quarter total revenue improved year-over-year to $324.73 million from $312.58 million. Analysts expected revenue of $336.2 million for the quarter.

John Kemper, CEO, said, "While the U.S. economy remained solid and profits this quarter were strong at our Bank, we experienced only modest growth in average loans, driven mainly by the commercial category. Consumer lending was seasonally lower, especially in auto and consumer credit card loans."

Total assets at March 31, 2019 were $25.0 billion, total loans were $14.1 billion, and total deposits were $20.0 billion.