01/22/2025 | Press release | Distributed by Public on 01/22/2025 08:30
For the Three Months Ended | For the Year Ended | |||||||||
(Unaudited) (Dollars in thousands, except per share data) |
Dec. 31, 2024 | Sep. 30, 2024 | Dec. 31, 2023 | Dec. 31, 2024 | Dec. 31, 2023 | |||||
FINANCIAL SUMMARY | ||||||||||
Net interest income | $266,647 | $262,351 | $248,421 | $1,040,246 | $998,129 | |||||
Non-interest income | 155,436 | 159,025 | 144,879 | 615,553 | 573,045 | |||||
Total revenue | 422,083 | 421,376 | 393,300 | 1,655,799 | 1,571,174 | |||||
Investment securities gains (losses) | 977 | 3,872 | 7,601 | 7,823 | 14,985 | |||||
Provision for credit losses | 13,508 | 9,140 | 5,879 | 32,903 | 35,451 | |||||
Non-interest expense | 235,718 | 237,600 | 251,254 | 951,229 | 930,982 | |||||
Income before taxes | 173,834 | 178,508 | 143,768 | 679,490 | 619,726 | |||||
Income taxes | 36,590 | 38,245 | 32,307 | 145,089 | 134,549 | |||||
Non-controlling interest expense (income) | 1,136 | 2,256 | 2,238 | 8,070 | 8,117 | |||||
Net income attributable to Commerce Bancshares, Inc. | $136,108 | $138,007 | $109,223 | $526,331 | $477,060 | |||||
Earnings per common share: | ||||||||||
Net income - basic | $1.01 | $1.02 | $0.80 | $3.88 | $3.47 | |||||
Net income - diluted | $1.01 | $1.01 | $0.79 | $3.87 | $3.46 | |||||
Effective tax rate | 21.19 | % | 21.70 | % | 22.83 | % | 21.61 | % | 22.00 | % |
Fully-taxable equivalent net interest income | $268,935 | $264,638 | $250,547 | $1,049,463 | $1,006,677 | |||||
Average total interest earning assets (1)
|
$30,628,722 | $30,051,845 | $31,340,958 | $30,266,008 | $31,823,935 | |||||
Diluted wtd. average shares outstanding | 133,686,588 | 134,394,825 | 136,088,738 | 134,688,401 | 136,575,226 | |||||
RATIOS | ||||||||||
Average loans to deposits (2)
|
68.45 | % | 69.93 | % | 67.69 | % | 69.73 | % | 66.31 | % |
Return on total average assets | 1.73 | 1.80 | 1.38 | 1.72 | 1.49 | |||||
Return on average equity (3)
|
15.97 | 16.81 | 16.48 | 16.66 | 17.94 | |||||
Non-interest income to total revenue | 36.83 | 37.74 | 36.84 | 37.18 | 36.47 | |||||
Efficiency ratio (4)
|
55.77 | 56.31 | 63.80 | 57.37 | 59.17 | |||||
Net yield on interest earning assets | 3.49 | 3.50 | 3.17 | 3.47 | 3.16 | |||||
EQUITY SUMMARY | ||||||||||
Cash dividends per share | $.257 | $.257 | $.245 | $1.029 | $.980 | |||||
Cash dividends on common stock | $34,609 | $34,794 | $33,574 | $139,503 | $134,734 | |||||
Book value per share (5)
|
$24.84 | $25.62 | $21.69 | |||||||
Market value per share (5)
|
$62.31 | $56.57 | $50.87 | |||||||
High market value per share | $72.75 | $62.72 | $54.05 | |||||||
Low market value per share | $54.01 | $52.27 | $38.96 | |||||||
Common shares outstanding (5)
|
134,152,172 | 134,797,835 | 136,684,850 | |||||||
Tangible common equity to tangible assets (6)
|
9.92 | % | 10.47 | % | 8.85 | % | ||||
Tier I leverage ratio | 12.26 | % | 12.31 | % | 11.25 | % | ||||
OTHER QTD INFORMATION | ||||||||||
Number of bank/ATM locations | 243 | 244 | 257 | |||||||
Full-time equivalent employees | 4,693 | 4,711 | 4,718 |
(Unaudited) (In thousands, except per share data) |
For the Three Months Ended | For the Year Ended | ||||||||||||
Dec. 31, 2024 | Sep. 30, 2024 | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2024 | Dec. 31, 2023 | ||||||||
Interest income | $369,405 | $372,068 | $369,363 | $358,721 | $362,609 | $1,469,557 | $1,381,291 | |||||||
Interest expense | 102,758 | 109,717 | 107,114 | 109,722 | 114,188 | 429,311 | 383,162 | |||||||
Net interest income | 266,647 | 262,351 | 262,249 | 248,999 | 248,421 | 1,040,246 | 998,129 | |||||||
Provision for credit losses | 13,508 | 9,140 | 5,468 | 4,787 | 5,879 | 32,903 | 35,451 | |||||||
Net interest income after credit losses | 253,139 | 253,211 | 256,781 | 244,212 | 242,542 | 1,007,343 | 962,678 | |||||||
NON-INTEREST INCOME | ||||||||||||||
Trust fees | 56,345 | 54,689 | 52,291 | 51,105 | 49,154 | 214,430 | 190,954 | |||||||
Bank card transaction fees | 47,807 | 47,570 | 47,477 | 46,930 | 47,878 | 189,784 | 191,156 | |||||||
Deposit account charges and other fees | 25,480 | 25,380 | 25,325 | 24,151 | 23,517 | 100,336 | 90,992 | |||||||
Capital market fees | 5,129 | 5,995 | 4,760 | 3,892 | 4,269 | 19,776 | 14,100 | |||||||
Consumer brokerage services | 4,636 | 4,619 | 4,478 | 4,408 | 3,641 | 18,141 | 17,223 | |||||||
Loan fees and sales | 2,874 | 3,444 | 3,431 | 3,141 | 2,875 | 12,890 | 11,165 | |||||||
Other | 13,165 | 17,328 | 14,482 | 15,221 | 13,545 | 60,196 | 57,455 | |||||||
Total non-interest income | 155,436 | 159,025 | 152,244 | 148,848 | 144,879 | 615,553 | 573,045 | |||||||
INVESTMENT SECURITIES GAINS (LOSSES), NET | 977 | 3,872 | 3,233 | (259) | 7,601 | 7,823 | 14,985 | |||||||
NON-INTEREST EXPENSE | ||||||||||||||
Salaries and employee benefits | 153,819 | 153,122 | 149,120 | 151,801 | 147,456 | 607,862 | 584,063 | |||||||
Data processing and software | 32,514 | 32,194 | 31,529 | 31,153 | 31,141 | 127,390 | 118,758 | |||||||
Net occupancy | 13,694 | 13,411 | 12,544 | 13,574 | 13,927 | 53,223 | 53,629 | |||||||
Professional and other services | 8,982 | 8,830 | 8,617 | 8,648 | 9,219 | 35,077 | 36,198 | |||||||
Marketing | 5,683 | 7,278 | 5,356 | 4,036 | 6,505 | 22,353 | 24,511 | |||||||
Equipment | 5,232 | 5,286 | 5,091 | 5,010 | 5,137 | 20,619 | 19,548 | |||||||
Supplies and communication | 4,948 | 4,963 | 4,636 | 4,744 | 5,242 | 19,291 | 19,420 | |||||||
Deposit Insurance | 3,181 | 2,930 | 2,354 | 8,017 | 20,304 | 16,482 | 33,163 | |||||||
Other | 7,665 | 9,586 | 12,967 | 18,714 | 12,323 | 48,932 | 41,692 | |||||||
Total non-interest expense | 235,718 | 237,600 | 232,214 | 245,697 | 251,254 | 951,229 | 930,982 | |||||||
Income before income taxes | 173,834 | 178,508 | 180,044 | 147,104 | 143,768 | 679,490 | 619,726 | |||||||
Less income taxes | 36,590 | 38,245 | 38,602 | 31,652 | 32,307 | 145,089 | 134,549 | |||||||
Net income | 137,244 | 140,263 | 141,442 | 115,452 | 111,461 | 534,401 | 485,177 | |||||||
Less non-controlling interest expense (income) | 1,136 | 2,256 | 1,889 | 2,789 | 2,238 | 8,070 | 8,117 | |||||||
Net income attributable to Commerce Bancshares, Inc. | $136,108 | $138,007 | $139,553 | $112,663 | $109,223 | $526,331 | $477,060 | |||||||
Net income per common share - basic | $1.01 | $1.02 | $1.03 | $0.82 | $0.80 | $3.88 | $3.47 | |||||||
Net income per common share - diluted | $1.01 | $1.01 | $1.03 | $0.82 | $0.79 | $3.87 | $3.46 | |||||||
OTHER INFORMATION | ||||||||||||||
Return on total average assets | 1.73 | % | 1.80 | % | 1.86 | % | 1.48 | % | 1.38 | % | 1.72 | % | 1.49 | % |
Return on average equity (1)
|
15.97 | 16.81 | 18.52 | 15.39 | 16.48 | 16.66 | 17.94 | |||||||
Efficiency ratio (2)
|
55.77 | 56.31 | 55.95 | 61.67 | 63.80 | 57.37 | 59.17 | |||||||
Effective tax rate | 21.19 | 21.70 | 21.67 | 21.93 | 22.83 | 21.61 | 22.00 | |||||||
Net yield on interest earning assets | 3.49 | 3.50 | 3.55 | 3.33 | 3.17 | 3.47 | 3.16 | |||||||
Fully-taxable equivalent net interest income | $268,935 | $264,638 | $264,578 | $251,312 | $250,547 | $1,049,463 | $1,006,677 |
(Unaudited) (In thousands) |
Dec. 31, 2024 | Sep. 30, 2024 | Dec. 31, 2023 | |||
ASSETS | ||||||
Loans | ||||||
Business | $ | 6,053,820 | $ | 6,048,328 | $ | 6,019,036 |
Real estate - construction and land | 1,409,901 | 1,381,607 | 1,446,764 | |||
Real estate - business | 3,661,218 | 3,586,999 | 3,719,306 | |||
Real estate - personal | 3,058,195 | 3,043,391 | 3,026,041 | |||
Consumer | 2,073,123 | 2,108,281 | 2,077,723 | |||
Revolving home equity | 356,650 | 342,376 | 319,894 | |||
Consumer credit card | 595,930 | 574,746 | 589,913 | |||
Overdrafts | 11,266 | 4,272 | 6,802 | |||
Total loans | 17,220,103 | 17,090,000 | 17,205,479 | |||
Allowance for credit losses on loans | (162,742) | (160,839) | (162,395) | |||
Net loans | 17,057,361 | 16,929,161 | 17,043,084 | |||
Loans held for sale | 3,242 | 1,707 | 4,177 | |||
Investment securities: | ||||||
Available for sale debt securities | 9,136,853 | 9,167,681 | 9,684,760 | |||
Trading debt securities | 38,034 | 42,645 | 28,830 | |||
Equity securities | 57,442 | 57,115 | 12,701 | |||
Other securities | 230,051 | 216,543 | 222,473 | |||
Total investment securities | 9,462,380 | 9,483,984 | 9,948,764 | |||
Federal funds sold | 3,000 | 10 | 5,025 | |||
Securities purchased under agreements to resell | 625,000 | 475,000 | 450,000 | |||
Interest earning deposits with banks | 2,624,553 | 2,642,048 | 2,239,010 | |||
Cash and due from banks | 748,357 | 507,941 | 443,147 | |||
Premises and equipment - net | 475,275 | 469,986 | 469,059 | |||
Goodwill | 146,539 | 146,539 | 146,539 | |||
Other intangible assets - net | 13,632 | 13,722 | 14,179 | |||
Other assets | 837,288 | 823,494 | 938,077 | |||
Total assets | $ | 31,996,627 | $ | 31,493,592 | $ | 31,701,061 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
Deposits: | ||||||
Non-interest bearing | $ | 8,150,669 | $ | 7,396,153 | $ | 7,975,935 |
Savings, interest checking and money market | 14,754,571 | 15,216,557 | 14,512,273 | |||
Certificates of deposit of less than $100,000 | 996,721 | 1,113,962 | 930,432 | |||
Certificates of deposit of $100,000 and over | 1,391,683 | 1,511,120 | 1,945,258 | |||
Total deposits | 25,293,644 | 25,237,792 | 25,363,898 | |||
Federal funds purchased and securities sold under agreements to repurchase | 2,926,758 | 2,182,229 | 2,908,815 | |||
Other borrowings | 56 | 10,201 | 1,404 | |||
Other liabilities | 443,694 | 609,831 | 462,714 | |||
Total liabilities | 28,664,152 | 28,040,053 | 28,736,831 | |||
Stockholders' equity: | ||||||
Common stock | 676,054 | 655,322 | 655,322 | |||
Capital surplus | 3,380,370 | 3,154,300 | 3,162,622 | |||
Retained earnings | 60,769 | 338,512 | 53,183 | |||
Treasury stock | (48,401) | (139,149) | (35,599) | |||
Accumulated other comprehensive income (loss) | (758,911) | (576,904) | (891,412) | |||
Total stockholders' equity | 3,309,881 | 3,432,081 | 2,944,116 | |||
Non-controlling interest | 22,594 | 21,458 | 20,114 | |||
Total equity | 3,332,475 | 3,453,539 | 2,964,230 | |||
Total liabilities and equity | $ | 31,996,627 | $ | 31,493,592 | $ | 31,701,061 |
(Unaudited) (In thousands) |
For the Three Months Ended | |||||||||
Dec. 31, 2024 | Sep. 30, 2024 | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | ||||||
ASSETS: | ||||||||||
Loans: | ||||||||||
Business | $ | 5,963,217 | $ | 5,966,797 | $ | 5,980,364 | $ | 5,873,525 | $ | 5,861,229 |
Real estate - construction and land | 1,411,437 | 1,400,563 | 1,471,504 | 1,472,554 | 1,523,682 | |||||
Real estate - business | 3,636,026 | 3,580,772 | 3,666,057 | 3,727,643 | 3,644,589 | |||||
Real estate - personal | 3,047,494 | 3,047,563 | 3,044,943 | 3,031,193 | 3,027,664 | |||||
Consumer | 2,087,237 | 2,129,483 | 2,127,650 | 2,082,490 | 2,117,268 | |||||
Revolving home equity | 350,541 | 335,817 | 326,204 | 322,074 | 310,282 | |||||
Consumer credit card | 568,138 | 559,410 | 552,896 | 562,892 | 568,112 | |||||
Overdrafts | 5,628 | 5,460 | 4,856 | 7,696 | 5,258 | |||||
Total loans
|
17,069,718 | 17,025,865 | 17,174,474 | 17,080,067 | 17,058,084 | |||||
Allowance for credit losses on loans | (160,286) | (158,003) | (159,791) | (161,891) | (161,932) | |||||
Net loans | 16,909,432 | 16,867,862 | 17,014,683 | 16,918,176 | 16,896,152 | |||||
Loans held for sale | 2,080 | 2,448 | 2,455 | 2,149 | 5,392 | |||||
Investment securities: | ||||||||||
U.S. government and federal agency obligations | 2,459,485 | 1,888,985 | 1,201,954 | 851,656 | 889,390 | |||||
Government-sponsored enterprise obligations | 55,428 | 55,583 | 55,634 | 55,652 | 55,661 | |||||
State and municipal obligations | 831,695 | 856,620 | 1,069,934 | 1,330,808 | 1,363,649 | |||||
Mortgage-backed securities | 4,905,187 | 5,082,091 | 5,553,656 | 5,902,328 | 6,022,502 | |||||
Asset-backed securities | 1,570,878 | 1,525,593 | 1,785,598 | 2,085,050 | 2,325,089 | |||||
Other debt securities
|
221,076 | 224,528 | 364,828 | 503,204 | 510,721 | |||||
Unrealized gain (loss) on debt securities | (896,346) | (961,695) | (1,272,127) | (1,274,125) | (1,595,845) | |||||
Total available for sale debt securities | 9,147,403 | 8,671,705 | 8,759,477 | 9,454,573 | 9,571,167 | |||||
Trading debt securities
|
56,440 | 47,440 | 46,565 | 40,483 | 37,234 | |||||
Equity securities | 56,758 | 85,118 | 127,584 | 12,768 | 12,249 | |||||
Other securities | 222,529 | 217,377 | 228,403 | 221,695 | 222,378 | |||||
Total investment securities | 9,483,130 | 9,021,640 | 9,162,029 | 9,729,519 | 9,843,028 | |||||
Federal funds sold | 826 | 12 | 1,612 | 599 | 1,194 | |||||
Securities purchased under agreements to resell | 566,307 | 474,997 | 303,586 | 340,934 | 450,000 | |||||
Interest earning deposits with banks | 2,610,315 | 2,565,188 | 2,099,777 | 1,938,381 | 2,387,415 | |||||
Other assets | 1,701,822 | 1,648,321 | 1,651,808 | 1,715,716 | 1,797,849 | |||||
Total assets | $ | 31,273,912 | $ | 30,580,468 | $ | 30,235,950 | $ | 30,645,474 | $ | 31,381,030 |
LIABILITIES AND EQUITY: | ||||||||||
Non-interest bearing deposits | $ | 7,464,255 | $ | 7,284,834 | $ | 7,297,955 | $ | 7,328,603 | $ | 7,748,654 |
Savings | 1,281,291 | 1,303,675 | 1,328,989 | 1,333,983 | 1,357,733 | |||||
Interest checking and money market | 13,679,666 | 13,242,398 | 13,162,118 | 13,215,270 | 13,166,783 | |||||
Certificates of deposit of less than $100,000 | 1,061,783 | 1,055,683 | 1,003,798 | 976,804 | 1,097,224 | |||||
Certificates of deposit of $100,000 and over | 1,451,851 | 1,464,143 | 1,492,592 | 1,595,310 | 1,839,057 | |||||
Total deposits | 24,938,846 | 24,350,733 | 24,285,452 | 24,449,970 | 25,209,451 | |||||
Borrowings: | ||||||||||
Federal funds purchased | 121,781 | 206,644 | 265,042 | 328,216 | 473,534 | |||||
Securities sold under agreements to repurchase | 2,445,956 | 2,351,870 | 2,254,849 | 2,511,959 | 2,467,118 | |||||
Other borrowings | 1,067 | 496 | 838 | 76 | 179,587 | |||||
Total borrowings | 2,568,804 | 2,559,010 | 2,520,729 | 2,840,251 | 3,120,239 | |||||
Other liabilities | 375,463 | 405,490 | 399,080 | 410,310 | 421,402 | |||||
Total liabilities | 27,883,113 | 27,315,233 | 27,205,261 | 27,700,531 | 28,751,092 | |||||
Equity | 3,390,799 | 3,265,235 | 3,030,689 | 2,944,943 | 2,629,938 | |||||
Total liabilities and equity | $ | 31,273,912 | $ | 30,580,468 | $ | 30,235,950 | $ | 30,645,474 | $ | 31,381,030 |
(Unaudited) | For the Three Months Ended | |||||||||
Dec. 31, 2024 | Sep. 30, 2024 | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | ||||||
ASSETS: | ||||||||||
Loans: | ||||||||||
Business (1)
|
5.86 | % | 6.17 | % | 6.11 | % | 6.07 | % | 5.91 | % |
Real estate - construction and land | 7.75 | 8.44 | 8.36 | 8.40 | 8.34 | |||||
Real estate - business | 6.01 | 6.28 | 6.26 | 6.26 | 6.18 | |||||
Real estate - personal | 4.17 | 4.10 | 4.04 | 3.95 | 3.85 | |||||
Consumer | 6.52 | 6.64 | 6.56 | 6.40 | 6.21 | |||||
Revolving home equity | 7.28 | 7.69 | 7.68 | 7.70 | 7.70 | |||||
Consumer credit card | 13.60 | 14.01 | 13.96 | 14.11 | 13.83 | |||||
Overdrafts | - | - | - | - | - | |||||
Total loans | 6.11 | 6.35 | 6.30 | 6.27 | 6.15 | |||||
Loans held for sale | 7.65 | 6.34 | 7.54 | 7.49 | 9.93 | |||||
Investment securities: | ||||||||||
U.S. government and federal agency obligations | 3.86 | 3.68 | 5.04 | 2.08 | 2.32 | |||||
Government-sponsored enterprise obligations | 2.36 | 2.37 | 2.39 | 2.39 | 2.36 | |||||
State and municipal obligations (1)
|
2.01 | 2.00 | 2.00 | 1.97 | 1.94 | |||||
Mortgage-backed securities | 2.17 | 1.95 | 2.09 | 2.19 | 2.05 | |||||
Asset-backed securities | 2.99 | 2.66 | 2.50 | 2.39 | 2.30 | |||||
Other debt securities | 2.11 | 2.07 | 2.01 | 1.93 | 1.85 | |||||
Total available for sale debt securities | 2.70 | 2.41 | 2.50 | 2.18 | 2.10 | |||||
Trading debt securities (1)
|
4.26 | 4.52 | 4.95 | 5.30 | 5.05 | |||||
Equity securities (1)
|
6.58 | 4.44 | 2.82 | 25.64 | 27.47 | |||||
Other securities (1)
|
5.75 | 6.09 | 13.20 | 13.04 | 8.60 | |||||
Total investment securities | 2.80 | 2.52 | 2.75 | 2.44 | 2.27 | |||||
Federal funds sold | 5.78 | - | 6.74 | 6.71 | 6.65 | |||||
Securities purchased under agreements to resell | 3.57 | 3.53 | 3.21 | 1.93 | 1.64 | |||||
Interest earning deposits with banks | 4.78 | 5.43 | 5.48 | 5.48 | 5.47 | |||||
Total interest earning assets | 4.83 | 4.96 | 4.98 | 4.78 | 4.62 | |||||
LIABILITIES AND EQUITY: | ||||||||||
Interest bearing deposits: | ||||||||||
Savings | .05 | .07 | .06 | .06 | .05 | |||||
Interest checking and money market | 1.63 | 1.74 | 1.73 | 1.69 | 1.57 | |||||
Certificates of deposit of less than $100,000 | 3.91 | 4.17 | 4.22 | 4.20 | 4.21 | |||||
Certificates of deposit of $100,000 and over | 4.24 | 4.51 | 4.55 | 4.56 | 4.55 | |||||
Total interest bearing deposits | 1.87 | 2.00 | 1.99 | 1.97 | 1.93 | |||||
Borrowings: | ||||||||||
Federal funds purchased | 4.71 | 5.38 | 5.42 | 5.42 | 5.40 | |||||
Securities sold under agreements to repurchase | 3.11 | 3.56 | 3.44 | 3.43 | 3.25 | |||||
Other borrowings | 3.36 | 4.81 | 3.84 | - | 5.45 | |||||
Total borrowings | 3.18 | 3.71 | 3.65 | 3.66 | 3.71 | |||||
Total interest bearing liabilities | 2.04 | % | 2.22 | % | 2.21 | % | 2.21 | % | 2.20 | % |
Net yield on interest earning assets | 3.49 | % | 3.50 | % | 3.55 | % | 3.33 | % | 3.17 | % |
For the Three Months Ended | For the Year Ended | |||||||||||||
(Unaudited) (In thousands, except ratios) |
Dec. 31, 2024 | Sep. 30, 2024 | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2024 | Dec. 31, 2023 | |||||||
ALLOWANCE FOR CREDIT LOSSES ON LOANS | ||||||||||||||
Balance at beginning of period | $160,839 | $158,557 | $160,465 | $162,395 | $162,244 | $162,395 | $150,136 | |||||||
Provision for credit losses on loans | 12,557 | 11,861 | 7,849 | 6,947 | 8,170 | 39,214 | 43,325 | |||||||
Net charge-offs (recoveries): | ||||||||||||||
Commercial portfolio: | ||||||||||||||
Business | 335 | 114 | 622 | 23 | 96 | 1,094 | 3,104 | |||||||
Real estate - construction and land | - | - | - | - | - | - | (115) | |||||||
Real estate - business | 50 | (7) | (8) | (141) | 128 | (106) | 104 | |||||||
385 | 107 | 614 | (118) | 224 | 988 | 3,093 | ||||||||
Personal banking portfolio: | ||||||||||||||
Consumer credit card | 6,557 | 6,273 | 6,746 | 6,435 | 5,325 | 26,011 | 19,053 | |||||||
Consumer | 3,237 | 2,759 | 1,804 | 1,983 | 1,903 | 9,783 | 6,248 | |||||||
Overdraft | 470 | 464 | 521 | 557 | 588 | 2,012 | 2,766 | |||||||
Real estate - personal | 8 | 128 | 79 | 24 | (11) | 239 | (37) | |||||||
Revolving home equity | (3) | (152) | (7) | (4) | (10) | (166) | (57) | |||||||
10,269 | 9,472 | 9,143 | 8,995 | 7,795 | 37,879 | 27,973 | ||||||||
Total net loan charge-offs | 10,654 | 9,579 | 9,757 | 8,877 | 8,019 | 38,867 | 31,066 | |||||||
Balance at end of period | $162,742 | $160,839 | $158,557 | $160,465 | $162,395 | $162,742 | $162,395 | |||||||
LIABILITY FOR UNFUNDED LENDING COMMITMENTS | $18,935 | $17,984 | $20,705 | $23,086 | $25,246 | |||||||||
NET CHARGE-OFF RATIOS (1)
|
||||||||||||||
Commercial portfolio: | ||||||||||||||
Business | .02 | % | .01 | % | .04 | % | - | % | .01 | % | .02 | % | .05 | % |
Real estate - construction and land | - | - | - | - | - | - | (.01) | |||||||
Real estate - business | .01 | - | - | (.02) | .01 | - | - | |||||||
.01 | - | .02 | - | .01 | .01 | .03 | ||||||||
Personal banking portfolio: | ||||||||||||||
Consumer credit card | 4.59 | 4.46 | 4.91 | 4.60 | 3.72 | 4.64 | 3.40 | |||||||
Consumer | .62 | .52 | .34 | .38 | .36 | .46 | .30 | |||||||
Overdraft | 33.22 | 33.81 | 43.15 | 29.11 | 44.37 | 34.06 | 56.19 | |||||||
Real estate - personal | - | .02 | .01 | - | - | .01 | - | |||||||
Revolving home equity | - | (.18) | (.01) | - | (.01) | (.05) | (.02) | |||||||
.67 | .62 | .61 | .60 | .51 | .63 | .47 | ||||||||
Total | .25 | % | .22 | % | .23 | % | .21 | % | .19 | % | .23 | % | .19 | % |
CREDIT QUALITY RATIOS | ||||||||||||||
Non-accrual loans to total loans | .11 | % | .11 | % | .11 | % | .03 | % | .04 | % | ||||
Allowance for credit losses on loans to total loans | .95 | .94 | .92 | .93 | .94 | |||||||||
NON-ACCRUAL AND PAST DUE LOANS | ||||||||||||||
Non-accrual loans: | ||||||||||||||
Business | $101 | $354 | $504 | $1,038 | $3,622 | |||||||||
Real estate - construction and land | 220 | - | - | - | - | |||||||||
Real estate - business | 14,954 | 14,944 | 15,050 | 1,246 | 60 | |||||||||
Real estate - personal | 1,026 | 1,144 | 1,772 | 1,523 | 1,653 | |||||||||
Revolving home equity | 1,977 | 1,977 | 1,977 | 1,977 | 1,977 | |||||||||
Total | 18,278 | 18,419 | 19,303 | 5,784 | 7,312 | |||||||||
Loans past due 90 days and still accruing interest | $24,516 | $21,986 | $18,566 | $20,281 | $21,864 |