| (Mark One) | |||||
| ☑ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE | ||||
| SECURITIES EXCHANGE ACT OF 1934 | |||||
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE | ||||
| SECURITIES EXCHANGE ACT OF 1934 | |||||
| COMMERCE BANCSHARES, INC. | ||||||||
| (Exact name of registrant as specified in its charter) | ||||||||
| Missouri | 43-0889454 | ||||||||||
| (State of Incorporation) | (IRS Employer Identification No.) | ||||||||||
| 1000 Walnut | |||||||||||
| Kansas City, | MO | 64106 | |||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||
| Title of class | Trading symbol(s) | Name of exchange on which registered | ||||||
| $5 Par Value Common Stock | CBSH | NASDAQ Global Select Market | ||||||
| Page | |||||||||||
| INDEX | |||||||||||
Consolidated Balance Sheets as of June 30, 2026 (unaudited) and December 31, 2025 | |||||||||||
Consolidated Statements of Income for the Three and Six Months Ended June 30, 2026 and 2025 (unaudited) | |||||||||||
Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2026 and 2025 (unaudited) | |||||||||||
Consolidated Statements of Changes in Equity for the Three and Six Months Ended June 30, 2026 and 2025 (unaudited) | |||||||||||
Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and 2025 (unaudited) | |||||||||||
| June 30, 2026 | December 31, 2025 | ||||||||||
| (Unaudited) | |||||||||||
| (In thousands) | |||||||||||
| ASSETS | |||||||||||
| Loans | $ | 20,833,481 | $ | 17,771,263 | |||||||
| Allowance for credit losses on loans | (195,375) | (179,468) | |||||||||
| Net loans | 20,638,106 | 17,591,795 | |||||||||
Loans held for sale (including $3,376,000 and $4,028,000 of residential mortgage loans carried at fair value at June 30, 2026 and December 31, 2025, respectively) | 3,799 | 4,329 | |||||||||
| Investment securities: | |||||||||||
Available for sale debt, at fair value (amortized cost of $8,941,232,000 and $9,742,278,000 at | |||||||||||
June 30, 2026 and December 31, 2025, respectively, and allowance for credit losses of $— | |||||||||||
at both June 30, 2026 and December 31, 2025) | 8,322,634 | 9,095,513 | |||||||||
| Trading debt | 57,651 | 40,080 | |||||||||
| Equity | 114,724 | 57,354 | |||||||||
| Other | 242,737 | 230,459 | |||||||||
| Total investment securities | 8,737,746 | 9,423,406 | |||||||||
| Federal funds sold | 2,010 | — | |||||||||
| Securities purchased under agreements to resell | 1,150,000 | 850,000 | |||||||||
| Interest earning deposits with banks | 2,260,162 | 2,744,393 | |||||||||
| Cash and due from banks | 645,674 | 803,239 | |||||||||
| Premises and equipment – net | 527,679 | 485,700 | |||||||||
| Goodwill | 253,805 | 146,539 | |||||||||
| Other intangible assets – net | 140,482 | 13,311 | |||||||||
| Other assets | 909,704 | 852,377 | |||||||||
| Total assets | $ | 35,269,167 | $ | 32,915,089 | |||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||
| Deposits: | |||||||||||
| Non-interest bearing | $ | 8,172,552 | $ | 8,205,711 | |||||||
| Savings, interest checking and money market | 17,320,654 | 15,047,406 | |||||||||
| Certificates of deposit of less than $100,000 | 1,017,503 | 1,023,406 | |||||||||
| Certificates of deposit of $100,000 and over | 1,364,993 | 1,363,053 | |||||||||
| Total deposits | 27,875,702 | 25,639,576 | |||||||||
| Federal funds purchased and securities sold under agreements to repurchase | 2,428,291 | 2,989,641 | |||||||||
| Other borrowings | 26,291 | 12,798 | |||||||||
| Other liabilities | 557,078 | 458,302 | |||||||||
| Total liabilities | 30,887,362 | 29,100,317 | |||||||||
| Commerce Bancshares, Inc. shareholders’ equity: | |||||||||||
Common stock, $5 par value | |||||||||||
Authorized 190,000,000; issued 148,521,165 and 138,588,701 shares at June 30, 2026 and December 31, 2025, respectively | 742,606 | 692,944 | |||||||||
| Capital surplus | 3,993,098 | 3,522,292 | |||||||||
| Retained earnings | 353,023 | 131,826 | |||||||||
Treasury stock of 4,369,979 shares at June 30, 2026 | |||||||||||
and 876,521 shares at December 31, 2025, at cost | (232,318) | (48,001) | |||||||||
| Accumulated other comprehensive income (loss) | (498,731) | (507,690) | |||||||||
| Total Commerce Bancshares, Inc. shareholders' equity | 4,357,678 | 3,791,371 | |||||||||
| Non-controlling interest | 24,127 | 23,401 | |||||||||
| Total equity | 4,381,805 | 3,814,772 | |||||||||
| Total liabilities and equity | $ | 35,269,167 | $ | 32,915,089 | |||||||
| For the Three Months Ended June 30 | For the Six Months Ended June 30 | ||||||||||||||||
| (In thousands, except per share data) | 2026 | 2025 | 2026 | 2025 | |||||||||||||
| (Unaudited) | |||||||||||||||||
| INTEREST INCOME | |||||||||||||||||
| Interest and fees on loans | $ | 291,439 | $ | 260,444 | $ | 579,823 | $ | 514,638 | |||||||||
| Interest and fees on loans held for sale | 23 | 40 | 52 | 63 | |||||||||||||
| Interest on investment securities | 82,707 | 79,998 | 154,994 | 156,450 | |||||||||||||
| Interest on federal funds sold | 6 | 2 | 13 | 31 | |||||||||||||
| Interest on securities purchased under agreements to resell | 9,392 | 8,516 | 17,847 | 15,934 | |||||||||||||
| Interest on deposits with banks | 23,764 | 22,636 | 51,109 | 48,885 | |||||||||||||
| Total interest income | 407,331 | 371,636 | 803,838 | 736,001 | |||||||||||||
| INTEREST EXPENSE | |||||||||||||||||
| Interest on deposits: | |||||||||||||||||
| Savings, interest checking and money market | 57,196 | 51,835 | 115,753 | 104,238 | |||||||||||||
| Certificates of deposit of less than $100,000 | 7,865 | 8,445 | 15,948 | 17,377 | |||||||||||||
| Certificates of deposit of $100,000 and over | 11,402 | 12,914 | 23,500 | 26,233 | |||||||||||||
| Interest on federal funds purchased | 2,290 | 1,416 | 3,570 | 2,800 | |||||||||||||
| Interest on securities sold under agreements to repurchase | 13,490 | 16,853 | 29,270 | 36,077 | |||||||||||||
| Interest on other borrowings | 3 | 26 | 872 | 27 | |||||||||||||
| Total interest expense | 92,246 | 91,489 | 188,913 | 186,752 | |||||||||||||
| Net interest income | 315,085 | 280,147 | 614,925 | 549,249 | |||||||||||||
| Provision for credit losses | 8,731 | 5,597 | 19,691 | 20,084 | |||||||||||||
| Net interest income after credit losses | 306,354 | 274,550 | 595,234 | 529,165 | |||||||||||||
| NON-INTEREST INCOME | |||||||||||||||||
| Trust fees | 71,512 | 55,571 | 142,561 | 112,163 | |||||||||||||
| Bank card transaction fees | 48,121 | 46,362 | 93,706 | 91,955 | |||||||||||||
| Deposit account charges and other fees | 29,259 | 26,248 | 57,837 | 52,870 | |||||||||||||
| Consumer brokerage services | 5,862 | 5,383 | 11,306 | 10,168 | |||||||||||||
| Capital market fees | 5,667 | 6,175 | 11,005 | 11,287 | |||||||||||||
| Loan fees and sales | 3,274 | 3,419 | 6,517 | 6,823 | |||||||||||||
| Other | 20,133 | 22,455 | 36,747 | 39,296 | |||||||||||||
| Total non-interest income | 183,828 | 165,613 | 359,679 | 324,562 | |||||||||||||
| INVESTMENT SECURITIES GAINS (LOSSES), NET | 12,830 | 437 | 24,477 | (7,154) | |||||||||||||
| NON-INTEREST EXPENSE | |||||||||||||||||
| Salaries and employee benefits | 179,954 | 155,025 | 360,741 | 308,103 | |||||||||||||
| Data processing and software | 38,241 | 32,904 | 76,569 | 65,142 | |||||||||||||
| Professional and other services | 16,506 | 12,973 | 35,298 | 22,999 | |||||||||||||
| Net occupancy | 14,638 | 13,654 | 29,946 | 27,674 | |||||||||||||
| Marketing | 6,413 | 5,974 | 13,370 | 11,817 | |||||||||||||
| Equipment | 5,870 | 5,157 | 11,541 | 10,405 | |||||||||||||
| Supplies and communication | 5,484 | 4,962 | 10,722 | 10,008 | |||||||||||||
| Deposit insurance | 3,841 | 3,312 | 7,755 | 7,056 | |||||||||||||
| Other | 26,121 | 10,476 | 42,252 | 19,609 | |||||||||||||
| Total non-interest expense | 297,068 | 244,437 | 588,194 | 482,813 | |||||||||||||
| Income before income taxes | 205,944 | 196,163 | 391,196 | 363,760 | |||||||||||||
| Less income taxes | 45,775 | 42,400 | 86,656 | 79,364 | |||||||||||||
| Net income | 160,169 | 153,763 | 304,540 | 284,396 | |||||||||||||
| Less non-controlling interest expense (income) | 379 | 1,284 | 3,127 | 325 | |||||||||||||
| Net income attributable to Commerce Bancshares, Inc. | $ | 159,790 | $ | 152,479 | $ | 301,413 | $ | 284,071 | |||||||||
| Net income per common share — basic | $ | 1.10 | $ | 1.09 | $ | 2.06 | $ | 2.02 | |||||||||
| Net income per common share — diluted | $ | 1.10 | $ | 1.09 | $ | 2.06 | $ | 2.02 | |||||||||
| For the Three Months Ended June 30 | For the Six Months Ended June 30 | ||||||||||||||||
| (In thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||
| (Unaudited) | |||||||||||||||||
| Net income | $ | 160,169 | $ | 153,763 | $ | 304,540 | $ | 284,396 | |||||||||
| Other comprehensive income (loss), net of tax: | |||||||||||||||||
| Net unrealized gains (losses) on available for sale debt securities | 51,675 | 51,374 | 21,125 | 169,662 | |||||||||||||
| Change in pension loss | 105 | 171 | 208 | 343 | |||||||||||||
| Unrealized gains (losses) on cash flow hedge derivatives | (10,919) | 1,982 | (12,374) | 7,857 | |||||||||||||
| Other comprehensive income (loss), net of tax | 40,861 | 53,527 | 8,959 | 177,862 | |||||||||||||
| Comprehensive income (loss) | 201,030 | 207,290 | 313,499 | 462,258 | |||||||||||||
| Less non-controlling interest (income) expense | 379 | 1,284 | 3,127 | 325 | |||||||||||||
| Comprehensive income (loss) attributable to Commerce Bancshares, Inc. | $ | 200,651 | $ | 206,006 | $ | 310,372 | $ | 461,933 | |||||||||
| Commerce Bancshares, Inc. Shareholders | |||||||||||||||||||||||
(In thousands, except per share data) | Common Stock | Capital Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Non-Controlling Interest | Total | ||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||
Balance March 31, 2026 | $ | 742,606 | $ | 3,986,353 | $ | 233,094 | $ | (120,692) | $ | (539,592) | $ | 24,629 | $ | 4,326,398 | |||||||||
| Net income | 159,790 | 379 | 160,169 | ||||||||||||||||||||
| Other comprehensive income (loss) | 40,861 | 40,861 | |||||||||||||||||||||
| Distributions to non-controlling interest | (881) | (881) | |||||||||||||||||||||
| Purchases of treasury stock | (111,324) | (111,324) | |||||||||||||||||||||
| Issuance under stock purchase and equity compensation plans | 302 | (302) | — | ||||||||||||||||||||
| Stock-based compensation | 6,443 | 6,443 | |||||||||||||||||||||
Cash dividends paid on common stock ($0.275 per share) | (39,861) | (39,861) | |||||||||||||||||||||
Balance June 30, 2026 | $ | 742,606 | $ | 3,993,098 | $ | 353,023 | $ | (232,318) | $ | (498,731) | $ | 24,127 | $ | 4,381,805 | |||||||||
Balance March 31, 2025 | $ | 676,054 | $ | 3,381,960 | $ | 140,220 | $ | (85,871) | $ | (634,576) | $ | 20,615 | $ | 3,498,402 | |||||||||
| Net Income | 152,479 | 1,284 | 153,763 | ||||||||||||||||||||
| Other comprehensive income (loss) | 53,527 | 53,527 | |||||||||||||||||||||
| Distributions to non-controlling interest | (2,357) | (2,357) | |||||||||||||||||||||
| Purchases of treasury stock | (10,497) | (10,497) | |||||||||||||||||||||
| Issuance under stock purchase and equity compensation plans | 219 | (221) | (2) | ||||||||||||||||||||
| Stock-based compensation | 4,039 | 4,039 | |||||||||||||||||||||
Cash dividends paid on common stock ($.262 per share) | (36,761) | (36,761) | |||||||||||||||||||||
Balance June 30, 2025 | $ | 676,054 | $ | 3,386,218 | $ | 255,938 | $ | (96,589) | $ | (581,049) | $ | 19,542 | $ | 3,660,114 | |||||||||
| Commerce Bancshares, Inc. Shareholders | |||||||||||||||||||||||
(In thousands, except per share data) | Common Stock | Capital Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Non-Controlling Interest | Total | ||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||
Balance December 31, 2025 | $ | 692,944 | $ | 3,522,292 | $ | 131,826 | $ | (48,001) | $ | (507,690) | $ | 23,401 | $ | 3,814,772 | |||||||||
| Net income | 301,413 | 3,127 | 304,540 | ||||||||||||||||||||
| Other comprehensive income (loss) | 8,959 | 8,959 | |||||||||||||||||||||
| Distributions to non-controlling interest | (2,401) | (2,401) | |||||||||||||||||||||
| Acquisition of FineMark Holdings, Inc | 49,662 | 470,203 | 519,865 | ||||||||||||||||||||
| Purchases of treasury stock | (196,298) | (196,298) | |||||||||||||||||||||
| Issuance under stock purchase and equity compensation plans | (11,982) | 11,981 | (1) | ||||||||||||||||||||
| Stock-based compensation | 12,585 | 12,585 | |||||||||||||||||||||
Cash dividends paid on common stock ($.550 per share) | (80,216) | (80,216) | |||||||||||||||||||||
Balance June 30, 2026 | $ | 742,606 | $ | 3,993,098 | $ | 353,023 | $ | (232,318) | $ | (498,731) | $ | 24,127 | $ | 4,381,805 | |||||||||
Balance December 31, 2024 | $ | 676,054 | $ | 3,395,645 | $ | 45,494 | $ | (48,401) | $ | (758,911) | $ | 22,594 | $ | 3,332,475 | |||||||||
| Net income | 284,071 | 325 | 284,396 | ||||||||||||||||||||
| Other comprehensive income (loss) | 177,862 | 177,862 | |||||||||||||||||||||
| Distributions to non-controlling interest | (3,377) | (3,377) | |||||||||||||||||||||
| Purchases of treasury stock | (66,076) | (66,076) | |||||||||||||||||||||
| Issuance under stock purchase and equity compensation plans | (17,892) | 17,888 | (4) | ||||||||||||||||||||
| Stock-based compensation | 8,465 | 8,465 | |||||||||||||||||||||
Cash dividends paid on common stock ($.524 per share) | (73,627) | (73,627) | |||||||||||||||||||||
Balance June 30, 2025 | $ | 676,054 | $ | 3,386,218 | $ | 255,938 | $ | (96,589) | $ | (581,049) | $ | 19,542 | $ | 3,660,114 | |||||||||
| For the Six Months Ended June 30 | |||||||||||
| (In thousands) | 2026 | 2025 | |||||||||
| (Unaudited) | |||||||||||
| OPERATING ACTIVITIES: | |||||||||||
| Net income | $ | 304,540 | $ | 284,396 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Provision for credit losses | 19,691 | 20,084 | |||||||||
| Provision for depreciation and amortization | 41,763 | 27,702 | |||||||||
| Accretion of discount related to acquired loans | (13,080) | — | |||||||||
| Amortization (accretion) of investment security premiums (discounts), net | (13,108) | (9,393) | |||||||||
| Investment securities (gains) losses, net (A) | (24,477) | 7,154 | |||||||||
| Net (gains) losses on sales of loans held for sale | (1,441) | (1,053) | |||||||||
| Originations of loans held for sale | (62,677) | (51,798) | |||||||||
| Proceeds from sales of loans held for sale | 64,205 | 52,203 | |||||||||
| Net (increase) decrease in trading debt securities, excluding unsettled transactions | 525,630 | (2,023) | |||||||||
| Stock-based compensation | 12,585 | 8,465 | |||||||||
| (Increase) decrease in interest receivable | 7,156 | 117 | |||||||||
| Increase (decrease) in interest payable | (5,104) | 6,540 | |||||||||
| Increase (decrease) in income taxes payable | 17,930 | (23,039) | |||||||||
| Other changes, net | (6,958) | (69,559) | |||||||||
| Net cash provided by (used in) operating activities | 866,655 | 249,796 | |||||||||
| INVESTING ACTIVITIES: | |||||||||||
| Cash received in acquisition | 501,360 | — | |||||||||
| Proceeds from sales of investment securities (A) | 859,599 | 46,094 | |||||||||
| Proceeds from maturities/pay downs of investment securities (A) | 782,348 | 958,189 | |||||||||
| Purchases of investment securities (A) | (850,743) | (540,370) | |||||||||
| Net (increase) decrease in loans | (443,737) | (466,478) | |||||||||
| Securities purchased under agreements to resell | (300,000) | (350,000) | |||||||||
| Repayments of securities purchased under agreements to resell | — | 125,000 | |||||||||
| Purchases of premises and equipment | (19,136) | (23,267) | |||||||||
| Sales of premises and equipment | 2,567 | 100 | |||||||||
| Net cash provided by (used in) investing activities | 532,258 | (250,732) | |||||||||
| FINANCING ACTIVITIES: | |||||||||||
| Net increase (decrease) in non-interest bearing, savings, interest checking and money market deposits | (640,993) | 246,122 | |||||||||
| Net increase (decrease) in certificates of deposit | (153,987) | (15,484) | |||||||||
| Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase | (624,368) | (330,297) | |||||||||
| FHLB short-term borrowings | 250,000 | — | |||||||||
| Repayments of FHLB borrowings | (603,929) | — | |||||||||
| Net increase (decrease) in other borrowings | 13,493 | 14,993 | |||||||||
| Purchases of treasury stock | (196,347) | (67,047) | |||||||||
| Cash dividends paid on common stock and distributions to non-controlling interest | (82,617) | (77,004) | |||||||||
| Other, net | (1) | (4) | |||||||||
| Net cash provided by (used in) financing activities | (2,038,749) | (228,721) | |||||||||
| Increase (decrease) in cash, cash equivalents and restricted cash | (639,836) | (229,657) | |||||||||
| Cash, cash equivalents and restricted cash at beginning of year | 3,547,715 | 3,375,992 | |||||||||
Cash, cash equivalents and restricted cash at June 30 | $ | 2,907,879 | $ | 3,146,335 | |||||||
| For the Six Months Ended June 30 | |||||||||||
| (In thousands) | 2026 | 2025 | |||||||||
| (Unaudited) | |||||||||||
| Supplemental disclosures: | |||||||||||
| Income tax payments, net | $ | 63,143 | $ | 97,116 | |||||||
| Interest paid on deposits and borrowings | 194,017 | 180,212 | |||||||||
| Non-cash activities: | |||||||||||
| Loans transferred to foreclosed real estate | 778 | 617 | |||||||||
| Business combination: | |||||||||||
| Fair value of tangible assets acquired | 3,327,074 | — | |||||||||
| Goodwill and other intangible assets | 246,068 | — | |||||||||
| Fair value of liabilities assumed | 3,549,295 | — | |||||||||
| Common stock issued | 519,865 | — | |||||||||
| Fair value of equity interest in FineMark prior to acquisition | 4,614 | — | |||||||||
(In thousands) | Fair Value | ||||
| Purchase consideration | |||||
| Fair value of common stock issued | $ | 519,865 | |||
| Fair value of equity interest in FineMark held by the Company prior to acquisition | 4,614 | ||||
| Cash for fractional shares | 8 | ||||
| Fair value of total consideration | $ | 524,487 | |||
| Assets | |||||
| Loans, net of allowance for credit losses on loans | $ | 2,607,866 | |||
| Trading securities | 541,967 | ||||
| Other investments | 27,180 | ||||
| Interest earning deposits with banks | 483,821 | ||||
| Cash and due from banks | 17,547 | ||||
| Premises and equipment | 47,074 | ||||
| Identifiable intangible assets | 138,082 | ||||
| Other assets | 102,979 | ||||
| Total assets acquired | $ | 3,966,516 | |||
| Liabilities | |||||
| Non-interest bearing deposits | $ | 425,140 | |||
| Interest-bearing deposits | 2,684,381 | ||||
| Repurchase agreements | 63,018 | ||||
| Other borrowings | 351,458 | ||||
| Other liabilities | 25,298 | ||||
| Total liabilities assumed | $ | 3,549,295 | |||
| Preliminary fair value of net assets acquired | $ | 417,221 | |||
| Preliminary goodwill | 107,266 | ||||
| (In thousands) | Unpaid principal balance | Premium / (discount) | Loans | Allowance for credit losses | Net loans | ||||||||||||
| Purchased seasoned loans | $ | 2,351,772 | $ | (76,873) | $ | 2,274,899 | $ | (19,870) | $ | 2,255,029 | |||||||
| PCD loans | 368,533 | (12,738) | 355,795 | (2,958) | 352,837 | ||||||||||||
| Total | $ | 2,720,305 | $ | (89,611) | $ | 2,630,694 | $ | (22,828) | $ | 2,607,866 | |||||||
| Pro Forma Combined Results | |||||||||||||||||
| For the Three Months Ended | For the Six Months Ended | ||||||||||||||||
| (In thousands) | June 30, 2026 | June 30, 2025 | June 30, 2026 | June 30, 2025 | |||||||||||||
| Total revenue * | $ | 494,200 | $ | 474,251 | $ | 964,444 | $ | 929,949 | |||||||||
| Net Income | 163,961 | 156,479 | 314,656 | 292,169 | |||||||||||||
(In thousands) | June 30, 2026 | December 31, 2025 | |||||||||
| Commercial: | |||||||||||
| Business | $ | 7,115,984 | $ | 6,439,380 | |||||||
| Real estate – construction and land | 1,493,455 | 1,438,012 | |||||||||
| Real estate – business | 4,064,253 | 3,674,567 | |||||||||
| Personal Banking: | |||||||||||
| Real estate – personal | 4,369,077 | 3,053,435 | |||||||||
| Consumer | 2,527,448 | 2,196,822 | |||||||||
| Revolving home equity | 649,332 | 375,159 | |||||||||
| Consumer credit card | 561,277 | 589,694 | |||||||||
| Overdrafts | 52,655 | 4,194 | |||||||||
| Total loans | $ | 20,833,481 | $ | 17,771,263 | |||||||
For the Three Months Ended June 30, 2026 | For the Six Months Ended June 30, 2026 | ||||||||||||||||||||||
| (In thousands) | Commercial | Personal Banking | Total | Commercial | Personal Banking | Total | |||||||||||||||||
| ALLOWANCE FOR CREDIT LOSSES ON LOANS | |||||||||||||||||||||||
| Balance at end of prior period | $ | 125,237 | $ | 73,368 | $ | 198,605 | $ | 116,865 | $ | 62,603 | $ | 179,468 | |||||||||||
| Initial allowance for credit losses on purchased credit deteriorated loans at acquisition | — | — | — | 1,534 | 1,424 | 2,958 | |||||||||||||||||
| Initial allowance for credit losses on purchased seasoned loans at acquisition | — | — | — | 7,721 | 12,149 | 19,870 | |||||||||||||||||
| Provision for credit losses on loans | (1,390) | 7,701 | 6,311 | 3,373 | 14,221 | 17,594 | |||||||||||||||||
| Deductions: | |||||||||||||||||||||||
| Loans charged off | 376 | 11,682 | 12,058 | 6,175 | 23,100 | 29,275 | |||||||||||||||||
| Less recoveries on loans | 159 | 2,358 | 2,517 | 312 | 4,448 | 4,760 | |||||||||||||||||
| Net loan charge-offs (recoveries) | 217 | 9,324 | 9,541 | 5,863 | 18,652 | 24,515 | |||||||||||||||||
| Balance June 30, 2026 | $ | 123,630 | $ | 71,745 | $ | 195,375 | $ | 123,630 | $ | 71,745 | $ | 195,375 | |||||||||||
| LIABILITY FOR UNFUNDED LENDING COMMITMENTS | |||||||||||||||||||||||
| Balance at end of prior period | $ | 16,566 | $ | 1,133 | $ | 17,699 | $ | 16,539 | $ | 1,121 | $ | 17,660 | |||||||||||
| Initial allowance for credit loss at acquisition | — | — | — | 362 | — | 362 | |||||||||||||||||
| Provision for credit losses on unfunded lending commitments | 2,442 | (22) | 2,420 | 2,107 | (10) | 2,097 | |||||||||||||||||
| Balance June 30, 2026 | $ | 19,008 | $ | 1,111 | $ | 20,119 | $ | 19,008 | $ | 1,111 | $ | 20,119 | |||||||||||
| ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LIABILITY FOR UNFUNDED LENDING COMMITMENTS | $ | 142,638 | $ | 72,856 | $ | 215,494 | $ | 142,638 | $ | 72,856 | $ | 215,494 | |||||||||||
For the Three Months Ended June 30, 2025 | For the Six Months Ended June 30, 2025 | ||||||||||||||||||||||
| (In thousands) | Commercial | Personal Banking | Total | Commercial | Personal Banking | Total | |||||||||||||||||
| ALLOWANCE FOR CREDIT LOSSES ON LOANS | |||||||||||||||||||||||
| Balance at beginning of period | $ | 106,700 | $ | 60,331 | $ | 167,031 | $ | 106,769 | $ | 55,973 | $ | 162,742 | |||||||||||
| Provision for credit losses on loans | 185 | 7,734 | 7,919 | 539 | 22,475 | 23,014 | |||||||||||||||||
| Deductions: | |||||||||||||||||||||||
| Loans charged off | 495 | 11,530 | 12,025 | 1,221 | 24,097 | 25,318 | |||||||||||||||||
| Less recoveries on loans | 464 | 1,871 | 2,335 | 767 | 4,055 | 4,822 | |||||||||||||||||
| Net loan charge-offs (recoveries) | 31 | 9,659 | 9,690 | 454 | 20,042 | 20,496 | |||||||||||||||||
| Balance June 30, 2025 | $ | 106,854 | $ | 58,406 | $ | 165,260 | $ | 106,854 | $ | 58,406 | $ | 165,260 | |||||||||||
| LIABILITY FOR UNFUNDED LENDING COMMITMENTS | |||||||||||||||||||||||
| Balance at beginning of period | $ | 17,047 | $ | 1,280 | $ | 18,327 | $ | 17,887 | $ | 1,048 | $ | 18,935 | |||||||||||
| Provision for credit losses on unfunded lending commitments | (2,276) | (46) | (2,322) | (3,116) | 186 | (2,930) | |||||||||||||||||
| Balance June 30, 2025 | $ | 14,771 | $ | 1,234 | $ | 16,005 | $ | 14,771 | $ | 1,234 | $ | 16,005 | |||||||||||
| ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LIABILITY FOR UNFUNDED LENDING COMMITMENTS | $ | 121,625 | $ | 59,640 | $ | 181,265 | $ | 121,625 | $ | 59,640 | $ | 181,265 | |||||||||||
(In thousands) | Current or Less Than 30 Days Past Due | 30 – 89 Days Past Due | 90 Days Past Due and Still Accruing | Non-accrual | Total | ||||||||||||
| June 30, 2026 | |||||||||||||||||
| Commercial: | |||||||||||||||||
| Business | $ | 7,110,497 | $ | 4,437 | $ | 958 | $ | 92 | $ | 7,115,984 | |||||||
| Real estate – construction and land | 1,493,277 | — | 178 | — | 1,493,455 | ||||||||||||
| Real estate – business | 4,039,565 | 14,905 | 418 | 9,365 | 4,064,253 | ||||||||||||
| Personal Banking: | |||||||||||||||||
| Real estate – personal | 4,350,290 | 6,417 | 10,242 | 2,128 | 4,369,077 | ||||||||||||
| Consumer | 2,498,563 | 25,678 | 3,207 | — | 2,527,448 | ||||||||||||
| Revolving home equity | 647,275 | 983 | 1,041 | 33 | 649,332 | ||||||||||||
| Consumer credit card | 546,617 | 7,001 | 7,659 | — | 561,277 | ||||||||||||
| Overdrafts | 52,371 | 284 | — | — | 52,655 | ||||||||||||
| Total | $ | 20,738,455 | $ | 59,705 | $ | 23,703 | $ | 11,618 | $ | 20,833,481 | |||||||
| December 31, 2025 | |||||||||||||||||
| Commercial: | |||||||||||||||||
| Business | $ | 6,437,476 | $ | 1,241 | $ | 540 | $ | 123 | $ | 6,439,380 | |||||||
| Real estate – construction and land | 1,437,727 | 285 | — | — | 1,438,012 | ||||||||||||
| Real estate – business | 3,636,517 | 23,265 | — | 14,785 | 3,674,567 | ||||||||||||
| Personal Banking: | |||||||||||||||||
| Real estate – personal | 3,021,212 | 19,450 | 11,931 | 842 | 3,053,435 | ||||||||||||
| Consumer | 2,165,109 | 28,269 | 3,444 | — | 2,196,822 | ||||||||||||
| Revolving home equity | 373,245 | 1,493 | 421 | — | 375,159 | ||||||||||||
| Consumer credit card | 573,698 | 7,673 | 8,323 | — | 589,694 | ||||||||||||
| Overdrafts | 3,787 | 407 | — | — | 4,194 | ||||||||||||
| Total | $ | 17,648,771 | $ | 82,083 | $ | 24,659 | $ | 15,750 | $ | 17,771,263 | |||||||
| Term Loans Amortized Cost Basis by Origination Year | ||||||||||||||||||||||||||
| (In thousands) | 2026 | 2025 | 2024 | 2023 | 2022 | Prior | Revolving Loans Amortized Cost Basis | Total | ||||||||||||||||||
| June 30, 2026 | ||||||||||||||||||||||||||
| Business | ||||||||||||||||||||||||||
| Risk Rating: | ||||||||||||||||||||||||||
| Pass | $ | 1,132,958 | $ | 1,420,625 | $ | 643,927 | $ | 437,560 | $ | 354,488 | $ | 480,520 | $ | 2,435,834 | $ | 6,905,912 | ||||||||||
| Special mention | 49 | 9,394 | 11,638 | 535 | 385 | 400 | 21,211 | 43,612 | ||||||||||||||||||
| Substandard | 377 | 35,897 | 6,445 | 2,942 | 6,024 | 2,357 | 112,326 | 166,368 | ||||||||||||||||||
| Non-accrual | — | — | 44 | 47 | — | 1 | — | 92 | ||||||||||||||||||
| Total Business: | $ | 1,133,384 | $ | 1,465,916 | $ | 662,054 | $ | 441,084 | $ | 360,897 | $ | 483,278 | $ | 2,569,371 | $ | 7,115,984 | ||||||||||
Gross write-offs for the six months ended June 30, 2026 | $ | — | $ | — | $ | — | $ | 74 | $ | 54 | $ | 24 | $ | 607 | $ | 759 | ||||||||||
| Real estate-construction | ||||||||||||||||||||||||||
| Risk Rating: | ||||||||||||||||||||||||||
| Pass | $ | 193,072 | $ | 469,016 | $ | 316,468 | $ | 252,234 | $ | 118,015 | $ | 5,868 | $ | 24,150 | $ | 1,378,823 | ||||||||||
| Special mention | 551 | 435 | 16,607 | 55,838 | — | — | — | 73,431 | ||||||||||||||||||
| Substandard | — | 13,068 | — | 2,216 | 25,917 | — | — | 41,201 | ||||||||||||||||||
| Total Real estate-construction: | $ | 193,623 | $ | 482,519 | $ | 333,075 | $ | 310,288 | $ | 143,932 | $ | 5,868 | $ | 24,150 | $ | 1,493,455 | ||||||||||
Gross write-offs for the six months ended June 30, 2026 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
| Real estate-business | ||||||||||||||||||||||||||
| Risk Rating: | ||||||||||||||||||||||||||
| Pass | $ | 746,761 | $ | 1,124,110 | $ | 381,657 | $ | 303,113 | $ | 507,724 | $ | 662,912 | $ | 163,379 | $ | 3,889,656 | ||||||||||
| Special mention | — | 19,999 | 9,857 | 1,386 | 25,379 | 236 | 1,563 | 58,420 | ||||||||||||||||||
| Substandard | — | 2,520 | 969 | 8,550 | 36,079 | 52,151 | 6,543 | 106,812 | ||||||||||||||||||
| Non-accrual | — | — | — | — | 124 | 9,241 | — | 9,365 | ||||||||||||||||||
| Total Real estate-business: | $ | 746,761 | $ | 1,146,629 | $ | 392,483 | $ | 313,049 | $ | 569,306 | $ | 724,540 | $ | 171,485 | $ | 4,064,253 | ||||||||||
Gross write-offs for the six months ended June 30, 2026 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 5,416 | $ | — | $ | 5,416 | ||||||||||
| Commercial loans | ||||||||||||||||||||||||||
| Risk Rating: | ||||||||||||||||||||||||||
| Pass | $ | 2,072,791 | $ | 3,013,751 | $ | 1,342,052 | $ | 992,907 | $ | 980,227 | $ | 1,149,300 | $ | 2,623,363 | $ | 12,174,391 | ||||||||||
| Special mention | 600 | 29,828 | 38,102 | 57,759 | 25,764 | 636 | 22,774 | 175,463 | ||||||||||||||||||
| Substandard | 377 | 51,485 | 7,414 | 13,708 | 68,020 | 54,508 | 118,869 | 314,381 | ||||||||||||||||||
| Non-accrual | — | — | 44 | 47 | 124 | 9,242 | — | 9,457 | ||||||||||||||||||
| Total Commercial loans: | $ | 2,073,768 | $ | 3,095,064 | $ | 1,387,612 | $ | 1,064,421 | $ | 1,074,135 | $ | 1,213,686 | $ | 2,765,006 | $ | 12,673,692 | ||||||||||
Gross write-offs for the six months ended June 30, 2026 | $ | — | $ | — | $ | — | $ | 74 | $ | 54 | $ | 5,440 | $ | 607 | $ | 6,175 | ||||||||||
| Term Loans Amortized Cost Basis by Origination Year | ||||||||||||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans Amortized Cost Basis | Total | ||||||||||||||||||
| December 31, 2025 | ||||||||||||||||||||||||||
| Business | ||||||||||||||||||||||||||
| Risk Rating: | ||||||||||||||||||||||||||
| Pass | $ | 1,704,299 | $ | 847,973 | $ | 568,361 | $ | 416,732 | $ | 252,398 | $ | 336,662 | $ | 2,129,247 | $ | 6,255,672 | ||||||||||
| Special mention | 13,410 | 4,149 | 2,661 | 1,536 | 893 | 1,375 | 47,568 | 71,592 | ||||||||||||||||||
| Substandard | 96 | 619 | 4,713 | 15,957 | 4,016 | 519 | 86,073 | 111,993 | ||||||||||||||||||
| Non-accrual | — | 49 | 32 | 42 | — | — | — | 123 | ||||||||||||||||||
| Total Business: | $ | 1,717,805 | $ | 852,790 | $ | 575,767 | $ | 434,267 | $ | 257,307 | $ | 338,556 | $ | 2,262,888 | $ | 6,439,380 | ||||||||||
| Gross write-offs for the year ended December 31, 2025 | $ | — | $ | 389 | $ | 116 | $ | 165 | $ | 2 | $ | 10 | $ | 1,423 | $ | 2,105 | ||||||||||
| Real estate-construction | ||||||||||||||||||||||||||
| Risk Rating: | ||||||||||||||||||||||||||
| Pass | $ | 450,046 | $ | 283,778 | $ | 379,456 | $ | 239,314 | $ | 3,857 | $ | 2,860 | $ | 18,109 | $ | 1,377,420 | ||||||||||
| Special mention | 14,104 | — | — | — | — | — | — | 14,104 | ||||||||||||||||||
| Substandard | — | — | 2,365 | 25,875 | 18,248 | — | — | 46,488 | ||||||||||||||||||
| Total Real estate-construction: | $ | 464,150 | $ | 283,778 | $ | 381,821 | $ | 265,189 | $ | 22,105 | $ | 2,860 | $ | 18,109 | $ | 1,438,012 | ||||||||||
| Gross write-offs for the year ended December 31, 2025 | $ | — | $ | 40 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 40 | ||||||||||
| Real estate- business | ||||||||||||||||||||||||||
| Risk Rating: | ||||||||||||||||||||||||||
| Pass | $ | 1,334,661 | $ | 426,130 | $ | 309,409 | $ | 462,953 | $ | 359,933 | $ | 389,275 | $ | 166,209 | $ | 3,448,570 | ||||||||||
| Special mention | 58,905 | 27,423 | 3,572 | 12,221 | 965 | 1,965 | 31 | 105,082 | ||||||||||||||||||
| Substandard | — | 1,884 | 6,646 | 26,960 | 13,423 | 50,821 | 6,396 | 106,130 | ||||||||||||||||||
| Non-accrual | — | — | — | 124 | 153 | 14,508 | — | 14,785 | ||||||||||||||||||
| Total Real-estate business: | $ | 1,393,566 | $ | 455,437 | $ | 319,627 | $ | 502,258 | $ | 374,474 | $ | 456,569 | $ | 172,636 | $ | 3,674,567 | ||||||||||
| Gross write-offs for the year ended December 31, 2025 | $ | — | $ | — | $ | 400 | $ | — | $ | — | $ | — | $ | — | $ | 400 | ||||||||||
| Commercial loans | ||||||||||||||||||||||||||
| Risk Rating: | ||||||||||||||||||||||||||
| Pass | $ | 3,489,006 | $ | 1,557,881 | $ | 1,257,226 | $ | 1,118,999 | $ | 616,188 | $ | 728,797 | $ | 2,313,565 | $ | 11,081,662 | ||||||||||
| Special mention | 86,419 | 31,572 | 6,233 | 13,757 | 1,858 | 3,340 | 47,599 | 190,778 | ||||||||||||||||||
| Substandard | 96 | 2,503 | 13,724 | 68,792 | 35,687 | 51,340 | 92,469 | 264,611 | ||||||||||||||||||
| Non-accrual | — | 49 | 32 | 166 | 153 | 14,508 | — | 14,908 | ||||||||||||||||||
| Total Commercial loans: | $ | 3,575,521 | $ | 1,592,005 | $ | 1,277,215 | $ | 1,201,714 | $ | 653,886 | $ | 797,985 | $ | 2,453,633 | $ | 11,551,959 | ||||||||||
| Gross write-offs for the year ended December 31, 2025 | $ | — | $ | 429 | $ | 516 | $ | 165 | $ | 2 | $ | 10 | $ | 1,423 | $ | 2,545 | ||||||||||
| Term Loans Amortized Cost Basis by Origination Year | ||||||||||||||||||||||||||
| (In thousands) | 2026 | 2025 | 2024 | 2023 | 2022 | Prior | Revolving Loans Amortized Cost Basis | Total | ||||||||||||||||||
| June 30, 2026 | ||||||||||||||||||||||||||
| Real estate-personal | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | 292,599 | $ | 602,356 | $ | 404,876 | $ | 436,604 | $ | 588,656 | $ | 2,020,798 | $ | 10,818 | $ | 4,356,707 | ||||||||||
| Over 90 days past due | — | 226 | 1,136 | 1,598 | 2,439 | 4,843 | — | 10,242 | ||||||||||||||||||
| Non-accrual | — | — | 2 | — | — | 2,126 | — | 2,128 | ||||||||||||||||||
| Total Real estate-personal: | $ | 292,599 | $ | 602,582 | $ | 406,014 | $ | 438,202 | $ | 591,095 | $ | 2,027,767 | $ | 10,818 | $ | 4,369,077 | ||||||||||
Gross write-offs for the six months ended June 30, 2026 | $ | — | $ | — | $ | 40 | $ | 73 | $ | 101 | $ | 7 | $ | — | $ | 221 | ||||||||||
| Consumer | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | 294,230 | $ | 446,441 | $ | 186,078 | $ | 186,377 | $ | 108,257 | $ | 123,087 | $ | 1,179,771 | $ | 2,524,241 | ||||||||||
| Over 90 days past due | — | 192 | 291 | 258 | 93 | 183 | 2,190 | 3,207 | ||||||||||||||||||
| Total Consumer: | $ | 294,230 | $ | 446,633 | $ | 186,369 | $ | 186,635 | $ | 108,350 | $ | 123,270 | $ | 1,181,961 | $ | 2,527,448 | ||||||||||
Gross write-offs for the six months ended June 30, 2026 | $ | 15 | $ | 825 | $ | 1,344 | $ | 1,049 | $ | 457 | $ | 254 | $ | 1,051 | $ | 4,995 | ||||||||||
| Revolving home equity | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 648,258 | $ | 648,258 | ||||||||||
| Over 90 days past due | — | — | — | — | — | — | 1,041 | 1,041 | ||||||||||||||||||
| Non-accrual | — | — | — | — | — | — | 33 | $ | 33 | |||||||||||||||||
| Total Revolving home equity: | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 649,332 | $ | 649,332 | ||||||||||
Gross write-offs for the six months ended June 30, 2026 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 90 | $ | 90 | ||||||||||
| Consumer credit card | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 553,618 | $ | 553,618 | ||||||||||
| Over 90 days past due | — | — | — | — | — | — | 7,659 | 7,659 | ||||||||||||||||||
| Total Consumer credit card: | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 561,277 | $ | 561,277 | ||||||||||
Gross write-offs for the six months ended June 30, 2026 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 16,564 | $ | 16,564 | ||||||||||
| Overdrafts | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | 52,655 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 52,655 | ||||||||||
| Total Overdrafts: | $ | 52,655 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 52,655 | ||||||||||
Gross write-offs for the six months ended June 30, 2026 | $ | 1,230 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 1,230 | ||||||||||
| Personal banking loans | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | 639,484 | $ | 1,048,797 | $ | 590,954 | $ | 622,981 | $ | 696,913 | $ | 2,143,885 | $ | 2,392,465 | $ | 8,135,479 | ||||||||||
| Over 90 days past due | — | 418 | 1,427 | 1,856 | 2,532 | 5,026 | 10,890 | 22,149 | ||||||||||||||||||
| Non-accrual | — | — | 2 | — | — | 2,126 | 33 | 2,161 | ||||||||||||||||||
| Total Personal banking loans: | $ | 639,484 | $ | 1,049,215 | $ | 592,383 | $ | 624,837 | $ | 699,445 | $ | 2,151,037 | $ | 2,403,388 | $ | 8,159,789 | ||||||||||
Gross write-offs for the six months ended June 30, 2026 | $ | 1,245 | $ | 825 | $ | 1,384 | $ | 1,122 | $ | 558 | $ | 261 | $ | 17,705 | $ | 23,100 | ||||||||||
| Term Loans Amortized Cost Basis by Origination Year | ||||||||||||||||||||||||||
| (In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans Amortized Cost Basis | Total | ||||||||||||||||||
| December 31, 2025 | ||||||||||||||||||||||||||
| Real estate-personal | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | 386,816 | $ | 312,902 | $ | 335,950 | $ | 360,793 | $ | 438,586 | $ | 1,196,850 | $ | 8,765 | $ | 3,040,662 | ||||||||||
| Over 90 days past due | — | 570 | 1,581 | 3,581 | 1,820 | 4,379 | — | 11,931 | ||||||||||||||||||
| Non-accrual | — | — | — | — | 102 | 740 | — | 842 | ||||||||||||||||||
| Total Real estate-personal: | $ | 386,816 | $ | 313,472 | $ | 337,531 | $ | 364,374 | $ | 440,508 | $ | 1,201,969 | $ | 8,765 | $ | 3,053,435 | ||||||||||
| Gross write-offs for the year ended December 31, 2025 | $ | — | $ | 47 | $ | 65 | $ | 416 | $ | 48 | $ | 29 | $ | — | $ | 605 | ||||||||||
| Consumer | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | 520,170 | $ | 242,791 | $ | 237,779 | $ | 132,942 | $ | 93,343 | $ | 62,726 | $ | 903,627 | $ | 2,193,378 | ||||||||||
| Over 90 days past due | 187 | 387 | 406 | 276 | 117 | 195 | 1,876 | 3,444 | ||||||||||||||||||
| Total Consumer: | $ | 520,357 | $ | 243,178 | $ | 238,185 | $ | 133,218 | $ | 93,460 | $ | 62,921 | $ | 905,503 | $ | 2,196,822 | ||||||||||
| Gross write-offs for the year ended December 31, 2025 | $ | 894 | $ | 3,862 | $ | 2,948 | $ | 1,705 | $ | 720 | $ | 359 | $ | 2,032 | $ | 12,520 | ||||||||||
| Revolving home equity | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 374,738 | $ | 374,738 | ||||||||||
| Over 90 days past due | — | — | — | — | — | — | 421 | 421 | ||||||||||||||||||
| Total Revolving home equity: | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 375,159 | $ | 375,159 | ||||||||||
| Gross write-offs for the year ended December 31, 2025 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 15 | $ | 15 | ||||||||||
| Consumer credit card | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 581,371 | $ | 581,371 | ||||||||||
| Over 90 days past due | — | — | — | — | — | — | 8,323 | 8,323 | ||||||||||||||||||
| Total Consumer credit card: | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 589,694 | $ | 589,694 | ||||||||||
| Gross write-offs for the year ended December 31, 2025 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 31,833 | $ | 31,833 | ||||||||||
| Overdrafts | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | 4,194 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,194 | ||||||||||
| Total Overdrafts: | $ | 4,194 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 4,194 | ||||||||||
| Gross write-offs for the year ended December 31, 2025 | $ | 2,522 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2,522 | ||||||||||
| Personal banking loans | ||||||||||||||||||||||||||
| Current to 90 days past due | $ | 911,180 | $ | 555,693 | $ | 573,729 | $ | 493,735 | $ | 531,929 | $ | 1,259,576 | $ | 1,868,501 | $ | 6,194,343 | ||||||||||
| Over 90 days past due | 187 | 957 | 1,987 | 3,857 | 1,937 | 4,574 | 10,620 | 24,119 | ||||||||||||||||||
| Non-accrual | — | — | — | — | 102 | 740 | — | 842 | ||||||||||||||||||
| Total Personal banking loans: | $ | 911,367 | $ | 556,650 | $ | 575,716 | $ | 497,592 | $ | 533,968 | $ | 1,264,890 | $ | 1,879,121 | $ | 6,219,304 | ||||||||||
| Gross write-offs for the year ended December 31, 2025 | $ | 3,416 | $ | 3,909 | $ | 3,013 | $ | 2,121 | $ | 768 | $ | 388 | $ | 33,880 | $ | 47,495 | ||||||||||
| (In thousands) | Real Estate | Total | ||||||
| June 30, 2026 | ||||||||
| Commercial: | ||||||||
| Real estate - business | $ | 9,092 | $ | 9,092 | ||||
| Total | $ | 9,092 | $ | 9,092 | ||||
| December 31, 2025 | ||||||||
| Commercial: | ||||||||
| Real estate - business | $ | 14,508 | $ | 14,508 | ||||
| Total | $ | 14,508 | $ | 14,508 | ||||
| For the Three Months Ended June 30, 2026 | |||||||||||||||||
(Dollars in thousands) | Term Extension | Payment Delay | Interest Rate Reduction | Total | % of Total Loan Category | ||||||||||||
| June 30, 2026 | |||||||||||||||||
| Commercial: | |||||||||||||||||
| Business | $ | 34,914 | $ | — | $ | — | $ | 34,914 | 0.5 | % | |||||||
| Real estate – construction and land | 13,068 | — | — | 13,068 | 0.9 | ||||||||||||
| Real estate – business | 5,781 | — | — | 5,781 | 0.1 | ||||||||||||
| Personal Banking: | |||||||||||||||||
| Real estate – personal | — | 502 | — | 502 | — | ||||||||||||
| Consumer | — | 16 | 33 | 49 | — | ||||||||||||
| Consumer credit card | — | — | 795 | 795 | 0.1 | ||||||||||||
| Total | $ | 53,763 | $ | 518 | $ | 828 | $ | 55,109 | 0.3 | % | |||||||
| For the Six Months Ended June 30, 2026 | |||||||||||||||||
| June 30, 2026 | |||||||||||||||||
| Commercial: | |||||||||||||||||
| Business | $ | 86,348 | $ | — | $ | — | $ | 86,348 | 1.2 | % | |||||||
| Real estate – construction and land | 15,284 | — | — | 15,284 | 1.0 | ||||||||||||
| Real estate – business | 6,310 | — | — | 6,310 | 0.2 | ||||||||||||
| Personal Banking: | |||||||||||||||||
| Real estate – personal | — | 1,300 | — | 1,300 | — | ||||||||||||
| Consumer | — | 16 | 48 | 64 | — | ||||||||||||
| Consumer credit card | — | — | 1,565 | 1,565 | 0.3 | ||||||||||||
| Total | $ | 107,942 | $ | 1,316 | $ | 1,613 | $ | 110,871 | 0.5 | % | |||||||
| For the Three Months Ended June 30, 2025 | |||||||||||||||||
(Dollars in thousands) | Term Extension | Payment Delay | Interest Rate Reduction | Total | % of Total Loan Category | ||||||||||||
| June 30, 2025 | |||||||||||||||||
| Commercial: | |||||||||||||||||
| Business | $ | 35,461 | $ | — | $ | — | $ | 35,461 | 0.6 | % | |||||||
| Real estate – business | 1,122 | — | — | 1,122 | — | ||||||||||||
| Personal Banking: | |||||||||||||||||
| Real estate – personal | — | 3,633 | — | 3,633 | 0.1 | ||||||||||||
| Consumer | — | 37 | 8 | 45 | — | ||||||||||||
| Consumer credit card | — | — | 932 | 932 | 0.2 | ||||||||||||
| Total | $ | 36,583 | $ | 3,670 | $ | 940 | $ | 41,193 | 0.2 | % | |||||||
| For the Six Months Ended June 30, 2025 | |||||||||||||||||
| June 30, 2025 | |||||||||||||||||
| Commercial: | |||||||||||||||||
| Business | $ | 52,075 | $ | — | $ | — | $ | 52,075 | 0.8 | % | |||||||
| Real estate – business | 77,440 | — | — | 77,440 | 2.1 | ||||||||||||
| Personal Banking: | |||||||||||||||||
| Real estate – personal | — | 6,810 | — | 6,810 | 0.2 | ||||||||||||
| Consumer | — | 37 | 68 | 105 | — | ||||||||||||
| Consumer credit card | — | — | 1,696 | 1,696 | 0.3 | ||||||||||||
| Total | $ | 129,515 | $ | 6,847 | $ | 1,764 | $ | 138,126 | 0.8 | % | |||||||
| Term Extension | ||||||||
| Three Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | |||||||
| Commercial: | ||||||||
| Business | Extended maturity by a weighted average of 8 months. | Extended maturity by a weighted average of 2 months. | ||||||
| Real estate – construction and land | Extended maturity by 6 months. | --- | ||||||
| Real estate – business | Extended maturity by a weighted average of 25 months. | Extended maturity by a weighted average of 12 months. | ||||||
| Six Months Ended June 30, 2026 | Six Months Ended June 30, 2025 | |||||||
| Commercial: | ||||||||
| Business | Extended maturity by a weighted average of 10 months. | Extended maturity by a weighted average of 7 months. | ||||||
| Real estate – construction and land | Extended maturity by a weighted average of 7 months. | --- | ||||||
| Real estate – business | Extended maturity by a weighted average of 24 months. | Extended maturity by a weighted average of 18 months. | ||||||
| Payment Delay | ||||||||
| Three Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | |||||||
| Personal Banking: | ||||||||
| Real estate – personal | Deferred certain payments by a weighted average of 26 years. | Deferred certain payments by a weighted average of 22 years. | ||||||
| Consumer | Deferred certain payments by a weighted average of 5 years. | Deferred certain payments by a weighted average of 8 years. | ||||||
| Six Months Ended June 30, 2026 | Six Months Ended June 30, 2025 | |||||||
| Personal Banking: | ||||||||
| Real estate – personal | Deferred certain payments by a weighted average of 26 years. | Deferred certain payments by a weighted average of 23 years. | ||||||
| Consumer | Deferred certain payments by a weighted average of 5 years. | Deferred certain payments by a weighted average of 8 years. | ||||||
| Interest Rate Reduction | ||||||||
| Three Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | |||||||
| Personal Banking: | ||||||||
| Consumer | Reduced contractual interest rate from average 21% to 6%. | Reduced contractual interest rate from average 22% to 6%. | ||||||
| Consumer credit card | Reduced contractual interest rate from average 21% to 6%. | Reduced contractual interest rate from average 22% to 6%. | ||||||
| Six Months Ended June 30, 2026 | Six Months Ended June 30, 2025 | |||||||
| Personal Banking: | ||||||||
| Consumer | Reduced contractual interest rate from average 21% to 6%. | Reduced contractual interest rate from average 22% to 6%. | ||||||
| Consumer credit card | Reduced contractual interest rate from average 21% to 6%. | Reduced contractual interest rate from average 22% to 6%. | ||||||
| For the Three Months Ended June 30, 2026 | For the Six Months Ended June 30, 2026 | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Term Extension | Payment Delay | Interest Rate Reduction | Interest/Fees Forgiven | Total | Term Extension | Payment Delay | Interest Rate Reduction | Interest/Fees Forgiven | Total | |||||||||||||||||||||||||
| June 30, 2026 | |||||||||||||||||||||||||||||||||||
| Commercial: | |||||||||||||||||||||||||||||||||||
| Real estate – business | 9,092 | — | — | — | 9,092 | $ | 9,092 | $ | — | $ | — | $ | — | $ | 9,092 | ||||||||||||||||||||
| Personal Banking: | |||||||||||||||||||||||||||||||||||
| Real estate – personal | — | 316 | — | — | 316 | — | 316 | — | — | 316 | |||||||||||||||||||||||||
| Consumer | — | — | 23 | — | 23 | — | — | 26 | — | 26 | |||||||||||||||||||||||||
| Consumer credit card | — | — | 236 | — | 236 | — | — | 419 | — | 419 | |||||||||||||||||||||||||
| Total | $ | 9,092 | $ | 316 | $ | 259 | $ | — | $ | 9,667 | $ | 9,092 | $ | 316 | $ | 445 | $ | — | $ | 9,853 | |||||||||||||||
| For the Three Months Ended June 30, 2025 | For the Six Months Ended June 30, 2025 | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Term Extension | Payment Delay | Interest Rate Reduction | Interest/Fees Forgiven | Total | Term Extension | Payment Delay | Interest Rate Reduction | Interest/Fees Forgiven | Total | |||||||||||||||||||||||||
| June 30, 2025 | |||||||||||||||||||||||||||||||||||
| Commercial: | |||||||||||||||||||||||||||||||||||
| Business | $ | 44 | $ | — | $ | — | $ | — | $ | 44 | $ | 44 | $ | — | $ | — | $ | — | $ | 44 | |||||||||||||||
| Real estate – business | 14,792 | — | — | — | 14,792 | $ | 14,792 | $ | — | $ | — | $ | — | $ | 14,792 | ||||||||||||||||||||
| Personal Banking: | |||||||||||||||||||||||||||||||||||
| Real estate – personal | $ | — | $ | 1,822 | $ | — | $ | — | $ | 1,822 | — | 2,836 | — | — | 2,836 | ||||||||||||||||||||
| Consumer | — | — | 7 | — | 7 | — | — | 32 | — | 32 | |||||||||||||||||||||||||
| Consumer credit card | — | — | 248 | — | 248 | — | — | 322 | — | 322 | |||||||||||||||||||||||||
| Total | $ | 14,836 | $ | 1,822 | $ | 255 | $ | — | $ | 16,913 | $ | 14,836 | $ | 2,836 | $ | 354 | $ | — | $ | 18,026 | |||||||||||||||
(In thousands) | Current | 30-89 Days Past Due | 90 Days Past Due | Total | ||||||||||
| June 30, 2026 | ||||||||||||||
| Commercial: | ||||||||||||||
| Business | $ | 86,950 | $ | — | $ | — | $ | 86,950 | ||||||
| Real estate – construction and land | 15,284 | — | — | 15,284 | ||||||||||
| Real estate – business | 6,310 | — | 9,092 | 15,402 | ||||||||||
| Personal Banking: | ||||||||||||||
| Real estate – personal | 4,093 | 338 | 316 | 4,747 | ||||||||||
| Consumer | 116 | — | 23 | 139 | ||||||||||
| Consumer credit card | 2,350 | 362 | 236 | 2,948 | ||||||||||
| Total | $ | 115,103 | $ | 700 | $ | 9,667 | $ | 125,470 | ||||||
(In thousands) | Current | 30-89 Days Past Due | 90 Days Past Due | Total | ||||||||||
| June 30, 2025 | ||||||||||||||
| Commercial: | ||||||||||||||
| Business | $ | 81,600 | $ | — | $ | 45 | $ | 81,645 | ||||||
| Real estate – business | 108,690 | — | 14,632 | 123,322 | ||||||||||
| Personal Banking: | ||||||||||||||
| Real estate – personal | 9,498 | 1,117 | 1,822 | 12,437 | ||||||||||
| Consumer | 138 | 723 | 7 | 868 | ||||||||||
| Consumer credit card | 2,447 | 233 | 248 | 2,928 | ||||||||||
| Total | $ | 202,373 | $ | 2,073 | $ | 16,754 | $ | 221,200 | ||||||
| (In thousands) | June 30, 2026 | December 31, 2025 | ||||||
| Available for sale debt securities | $ | 8,322,634 | $ | 9,095,513 | ||||
| Trading debt securities | 57,651 | 40,080 | ||||||
| Equity securities: | ||||||||
| Readily determinable fair value | 33,195 | 47,551 | ||||||
| No readily determinable fair value | 81,529 | 9,803 | ||||||
| Other: | ||||||||
| Federal Reserve Bank stock | 51,605 | 35,918 | ||||||
| Federal Home Loan Bank stock | 10,099 | 10,198 | ||||||
| Private equity investments | 181,033 | 184,343 | ||||||
Total investment securities (1) | $ | 8,737,746 | $ | 9,423,406 | ||||
| Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||
| (In thousands) | 2026 | 2026 | |||||||||
| Balance at beginning of period | $ | 10,000 | $ | 9,803 | |||||||
| Additions | 1,350 | 1,350 | |||||||||
| Observable upward price adjustments | 114,063 | 114,260 | |||||||||
| Observable downward price adjustments | — | — | |||||||||
| Impairment charges | — | — | |||||||||
| Sales of securities and other activity | (43,884) | (43,884) | |||||||||
| Balance at end of period | $ | 81,529 | $ | 81,529 | |||||||
| (In thousands) | Amortized Cost | Fair Value | ||||||
| U.S. government and federal agency obligations: | ||||||||
| Within 1 year | $ | 397,508 | $ | 397,509 | ||||
| After 1 but within 5 years | 1,987,940 | 1,976,364 | ||||||
| After 5 but within 10 years | 913,318 | 908,439 | ||||||
| After 10 years | 204,905 | 204,497 | ||||||
| Total U.S. government and federal agency obligations | 3,503,671 | 3,486,809 | ||||||
| Government-sponsored enterprise obligations: | ||||||||
| After 1 but within 5 years | 3,962 | 3,727 | ||||||
| After 5 but within 10 years | 30,808 | 26,193 | ||||||
| After 10 years | 19,821 | 13,929 | ||||||
| Total government-sponsored enterprise obligations | 54,591 | 43,849 | ||||||
| State and municipal obligations: | ||||||||
| Within 1 year | 62,642 | 62,054 | ||||||
| After 1 but within 5 years | 424,901 | 404,977 | ||||||
| After 5 but within 10 years | 99,665 | 87,676 | ||||||
| After 10 years | 102,758 | 85,517 | ||||||
| Total state and municipal obligations | 689,966 | 640,224 | ||||||
| Mortgage and asset-backed securities: | ||||||||
| Agency mortgage-backed securities | 3,095,101 | 2,602,290 | ||||||
| Non-agency mortgage-backed securities | 416,247 | 385,318 | ||||||
| Asset-backed securities | 1,013,942 | 1,002,658 | ||||||
| Total mortgage and asset-backed securities | 4,525,290 | 3,990,266 | ||||||
| Other debt securities: | ||||||||
| Within 1 year | 11,438 | 11,294 | ||||||
| After 1 but within 5 years | 51,494 | 47,691 | ||||||
| After 5 but within 10 years | 81,368 | 79,238 | ||||||
| After 10 years | 23,414 | 23,263 | ||||||
| Total other debt securities | 167,714 | 161,486 | ||||||
| Total available for sale debt securities | $ | 8,941,232 | $ | 8,322,634 | ||||
| Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||||
(In thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||
| June 30, 2026 | ||||||||||||||||||||||||||
| U.S. government and federal agency obligations | $ | 2,177,177 | $ | 20,642 | $ | 72,263 | $ | 2,188 | $ | 2,249,440 | $ | 22,830 | ||||||||||||||
| Government-sponsored enterprise obligations | — | — | 43,849 | 10,742 | 43,849 | 10,742 | ||||||||||||||||||||
| State and municipal obligations | 9,609 | 54 | 599,340 | 49,729 | 608,949 | 49,783 | ||||||||||||||||||||
| Mortgage and asset-backed securities: | ||||||||||||||||||||||||||
| Agency mortgage-backed securities | 3,271 | 59 | 2,530,076 | 494,281 | 2,533,347 | 494,340 | ||||||||||||||||||||
| Non-agency mortgage-backed securities | — | — | 371,851 | 31,121 | 371,851 | 31,121 | ||||||||||||||||||||
| Asset-backed securities | 140,296 | 274 | 439,328 | 13,998 | 579,624 | 14,272 | ||||||||||||||||||||
| Total mortgage and asset-backed securities | 143,567 | 333 | 3,341,255 | 539,400 | 3,484,822 | 539,733 | ||||||||||||||||||||
| Other debt securities | 25,254 | 169 | 88,121 | 6,257 | 113,375 | 6,426 | ||||||||||||||||||||
| Total | $ | 2,355,607 | $ | 21,198 | $ | 4,144,828 | $ | 608,316 | $ | 6,500,435 | $ | 629,514 | ||||||||||||||
| December 31, 2025 | ||||||||||||||||||||||||||
| U.S. government and federal agency obligations | $ | 612,167 | $ | 2,620 | $ | 314,006 | $ | 8,244 | $ | 926,173 | $ | 10,864 | ||||||||||||||
| Government-sponsored enterprise obligations | — | — | 44,712 | 10,239 | 44,712 | 10,239 | ||||||||||||||||||||
| State and municipal obligations | 12,157 | 18 | 636,492 | 50,323 | 648,649 | 50,341 | ||||||||||||||||||||
| Mortgage and asset-backed securities: | ||||||||||||||||||||||||||
| Agency mortgage-backed securities | 2,437 | 30 | 3,148,627 | 565,056 | 3,151,064 | 565,086 | ||||||||||||||||||||
| Non-agency mortgage-backed securities | — | — | 421,508 | 31,942 | 421,508 | 31,942 | ||||||||||||||||||||
| Asset-backed securities | 32,875 | 36 | 546,984 | 16,925 | 579,859 | 16,961 | ||||||||||||||||||||
| Total mortgage and asset-backed securities | 35,312 | 66 | 4,117,119 | 613,923 | 4,152,431 | 613,989 | ||||||||||||||||||||
| Other debt securities | — | — | 110,038 | 6,661 | 110,038 | 6,661 | ||||||||||||||||||||
| Total | $ | 659,636 | $ | 2,704 | $ | 5,222,367 | $ | 689,390 | $ | 5,882,003 | $ | 692,094 | ||||||||||||||
(In thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Allowance for Credit Losses | Fair Value | ||||||||||||
| June 30, 2026 | |||||||||||||||||
| U.S. government and federal agency obligations | $ | 3,503,671 | $ | 5,968 | $ | (22,830) | $ | — | $ | 3,486,809 | |||||||
| Government-sponsored enterprise obligations | 54,591 | — | (10,742) | — | 43,849 | ||||||||||||
| State and municipal obligations | 689,966 | 41 | (49,783) | — | 640,224 | ||||||||||||
| Mortgage and asset-backed securities: | |||||||||||||||||
| Agency mortgage-backed securities | 3,095,101 | 1,529 | (494,340) | — | 2,602,290 | ||||||||||||
| Non-agency mortgage-backed securities | 416,247 | 192 | (31,121) | — | 385,318 | ||||||||||||
| Asset-backed securities | 1,013,942 | 2,988 | (14,272) | — | 1,002,658 | ||||||||||||
| Total mortgage and asset-backed securities | 4,525,290 | 4,709 | (539,733) | — | 3,990,266 | ||||||||||||
| Other debt securities | 167,714 | 198 | (6,426) | — | 161,486 | ||||||||||||
| Total | $ | 8,941,232 | $ | 10,916 | $ | (629,514) | $ | — | $ | 8,322,634 | |||||||
| December 31, 2025 | |||||||||||||||||
| U.S. government and federal agency obligations | $ | 3,257,561 | $ | 32,403 | $ | (10,864) | $ | — | $ | 3,279,100 | |||||||
| Government-sponsored enterprise obligations | 54,951 | — | (10,239) | — | 44,712 | ||||||||||||
| State and municipal obligations | 715,037 | 37 | (50,341) | — | 664,733 | ||||||||||||
| Mortgage and asset-backed securities: | |||||||||||||||||
| Agency mortgage-backed securities | 3,786,811 | 1,380 | (565,086) | — | 3,223,105 | ||||||||||||
| Non-agency mortgage-backed securities | 467,200 | 430 | (31,942) | — | 435,688 | ||||||||||||
| Asset-backed securities | 1,269,503 | 9,503 | (16,961) | — | 1,262,045 | ||||||||||||
| Total mortgage and asset-backed securities | 5,523,514 | 11,313 | (613,989) | — | 4,920,838 | ||||||||||||
| Other debt securities | 191,215 | 1,576 | (6,661) | — | 186,130 | ||||||||||||
| Total | $ | 9,742,278 | $ | 45,329 | $ | (692,094) | $ | — | $ | 9,095,513 | |||||||
| For the Six Months Ended June 30 | ||||||||
| (In thousands) | 2026 | 2025 | ||||||
Proceeds from sales of securities: | ||||||||
Available for sale debt securities | $ | 806,982 | $ | 36,065 | ||||
Equity securities | 34,460 | — | ||||||
Other investments | 18,157 | 10,029 | ||||||
Total proceeds | $ | 859,599 | $ | 46,094 | ||||
| Investment securities gains (losses), net: | ||||||||
| Available for sale debt securities: | ||||||||
| Gains realized on sales | $ | — | $ | 4 | ||||
| Losses realized on sales | (97,686) | (4,218) | ||||||
Equity securities: | ||||||||
| Gains (losses) on equity securities, net | 114,277 | 1,777 | ||||||
Other: | ||||||||
Gains realized on sales | 1,209 | 1,167 | ||||||
Losses realized on sales | (262) | (1,773) | ||||||
| Fair value adjustments, net | 6,939 | (4,111) | ||||||
| Total investment securities gains (losses), net | $ | 24,477 | $ | (7,154) | ||||
| June 30, 2026 | December 31, 2025 | ||||||||||||||||||||||||||||
(In thousands) | Gross Carrying Amount | Accumulated Amortization | Valuation Allowance | Net Amount | Gross Carrying Amount | Accumulated Amortization | Valuation Allowance | Net Amount | |||||||||||||||||||||
| Amortizable intangible assets: | |||||||||||||||||||||||||||||
| Core deposit premium | $ | 72,581 | $ | (10,635) | $ | — | $ | 61,946 | $ | 5,550 | $ | (5,427) | $ | — | $ | 123 | |||||||||||||
| Trade name | 5,550 | (555) | — | 4,995 | — | — | — | — | |||||||||||||||||||||
| Customer relationships | 65,500 | (5,038) | — | 60,462 | — | — | — | — | |||||||||||||||||||||
| Mortgage servicing rights | 13,842 | (4,363) | — | 9,479 | 13,805 | (4,217) | — | 9,588 | |||||||||||||||||||||
| Total | $ | 157,473 | $ | (20,591) | $ | — | $ | 136,882 | $ | 19,355 | $ | (9,644) | $ | — | $ | 9,711 | |||||||||||||
| (In thousands) | |||||
| 2026 | $ | 22,706 | |||
| 2027 | 20,872 | ||||
| 2028 | 19,035 | ||||
| 2029 | 17,243 | ||||
| 2030 | 15,458 | ||||
| (In thousands) | Goodwill | Easement | Core Deposit Premium | Trade Name | Customer Relationships | Mortgage Servicing Rights | ||||||||||||||
Balance January 1, 2026 | $ | 146,539 | $ | 3,600 | $ | 123 | $ | — | $ | — | $ | 9,588 | ||||||||
| Acquisition | 107,266 | — | 67,032 | 5,550 | 65,500 | — | ||||||||||||||
| Originations, net of disposals | — | — | — | — | — | 460 | ||||||||||||||
| Amortization | — | — | (5,209) | (555) | (5,038) | (569) | ||||||||||||||
| Balance June 30, 2026 | $ | 253,805 | $ | 3,600 | $ | 61,946 | $ | 4,995 | $ | 60,462 | $ | 9,479 | ||||||||
| (In thousands) | June 30, 2026 | December 31, 2025 | ||||||
| Retail banking segment | $ | 70,721 | $ | 70,721 | ||||
| Commercial segment | 75,072 | 75,072 | ||||||
| Wealth segment | 108,012 | 746 | ||||||
| Total goodwill | $ | 253,805 | $ | 146,539 | ||||
| For the Three Months Ended June 30 | For the Six Months Ended June 30 | ||||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Direct financing and sales-type leases | $ | 10,111 | $ | 9,852 | $ | 20,241 | $ | 19,695 | |||||||||
| Operating leases | 4,989 | 4,188 | 10,069 | 8,485 | |||||||||||||
| Total lease income | $ | 15,100 | $ | 14,040 | $ | 30,310 | $ | 28,180 | |||||||||
| For the Three Months Ended June 30 | For the Six Months Ended June 30 | ||||||||||||||||
| (In thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Service cost | $ | 144 | $ | 135 | $ | 289 | $ | 271 | |||||||||
| Interest cost on projected benefit obligation | 971 | 1,074 | 1,942 | 2,147 | |||||||||||||
| Expected return on plan assets | (975) | (980) | (1,950) | (1,960) | |||||||||||||
| Amortization of unrecognized net loss (gain) | 139 | 229 | 277 | 458 | |||||||||||||
| Net periodic pension cost | $ | 279 | $ | 458 | $ | 558 | $ | 916 | |||||||||
| For the Three Months Ended June 30 | For the Six Months Ended June 30 | ||||||||||||||||
| (In thousands, except per share data) | 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Basic income per common share: | |||||||||||||||||
| Net income attributable to Commerce Bancshares, Inc. | $ | 159,790 | $ | 152,479 | $ | 301,413 | $ | 284,071 | |||||||||
| Less income allocated to nonvested restricted stock awards | 1,405 | 1,461 | 2,719 | 2,720 | |||||||||||||
| Net income allocated to common stock | $ | 158,385 | $ | 151,018 | $ | 298,694 | $ | 281,351 | |||||||||
| Weighted average common shares outstanding | 144,215 | 139,077 | 144,996 | 139,319 | |||||||||||||
| Basic income per common share | $ | 1.10 | $ | 1.09 | $ | 2.06 | $ | 2.02 | |||||||||
| Diluted income per common share: | |||||||||||||||||
| Net income attributable to Commerce Bancshares, Inc. | $ | 159,790 | $ | 152,479 | $ | 301,413 | $ | 284,071 | |||||||||
| Less income allocated to nonvested restricted stock awards | 1,405 | 1,460 | 2,718 | 2,718 | |||||||||||||
| Net income allocated to common stock | $ | 158,385 | $ | 151,019 | $ | 298,695 | $ | 281,353 | |||||||||
| Weighted average common shares outstanding | 144,215 | 139,077 | 144,996 | 139,319 | |||||||||||||
| Net effect of assumed exercise of stock appreciation rights and restricted stock units - based on the treasury stock method using the average market price for the respective periods | 94 | 135 | 83 | 148 | |||||||||||||
| Weighted average diluted common shares outstanding | 144,309 | 139,212 | 145,079 | 139,467 | |||||||||||||
| Diluted income per common share | $ | 1.10 | $ | 1.09 | $ | 2.06 | $ | 2.02 | |||||||||
| Unrealized Gains (Losses) on Securities (1) | Pension Loss | Unrealized Gains (Losses) on Cash Flow Hedge Derivatives (2) | Total Accumulated Other Comprehensive Income (Loss) | |||||||||||
| (In thousands) | ||||||||||||||
Balance January 1, 2026 | $ | (485,071) | $ | (9,623) | $ | (12,996) | $ | (507,690) | ||||||
| Other comprehensive income (loss) before reclassifications to current earnings | (69,519) | — | (16,982) | (86,501) | ||||||||||
| Amounts reclassified to current earnings from accumulated other comprehensive income | 97,686 | 277 | 483 | 98,446 | ||||||||||
| Current period other comprehensive income (loss), before tax | 28,167 | 277 | (16,499) | 11,945 | ||||||||||
| Income tax (expense) benefit | (7,042) | (69) | 4,125 | (2,986) | ||||||||||
| Current period other comprehensive income (loss), net of tax | 21,125 | 208 | (12,374) | 8,959 | ||||||||||
Balance June 30, 2026 | $ | (463,946) | $ | (9,415) | $ | (25,370) | $ | (498,731) | ||||||
Balance January 1, 2025 | $ | (742,926) | $ | (12,059) | $ | (3,926) | $ | (758,911) | ||||||
| Other comprehensive income (loss) before reclassifications to current earnings | 222,002 | — | 15,381 | 237,383 | ||||||||||
| Amounts reclassified to current earnings from accumulated other comprehensive income | 4,214 | 458 | (4,905) | (233) | ||||||||||
| Current period other comprehensive income (loss), before tax | 226,216 | 458 | 10,476 | 237,150 | ||||||||||
| Income tax (expense) benefit | (56,554) | (115) | (2,619) | (59,288) | ||||||||||
| Current period other comprehensive income (loss), net of tax | 169,662 | 343 | 7,857 | 177,862 | ||||||||||
Balance June 30, 2025 | $ | (573,264) | $ | (11,716) | $ | 3,931 | $ | (581,049) | ||||||
(In thousands) | Retail Banking | Commercial | Wealth | Other/Elimination | Consolidated Totals | ||||||||||||
| Three Months Ended June 30, 2026 | |||||||||||||||||
| Net interest income | $ | 124,205 | $ | 131,400 | $ | 50,273 | $ | 9,207 | $ | 315,085 | |||||||
| Provision for credit losses | (9,239) | (263) | — | 771 | (8,731) | ||||||||||||
| Non-interest income | 25,654 | 73,450 | 81,604 | 3,120 | 183,828 | ||||||||||||
| Investment securities gains (losses), net | — | — | — | 12,830 | 12,830 | ||||||||||||
| Non-interest expense | (87,343) | (124,618) | (62,057) | (23,050) | (297,068) | ||||||||||||
| Income before income taxes | $ | 53,277 | $ | 79,969 | $ | 69,820 | $ | 2,878 | $ | 205,944 | |||||||
| Six Months Ended June 30, 2026 | |||||||||||||||||
| Net interest income | $ | 246,777 | $ | 265,001 | $ | 96,396 | $ | 6,751 | $ | 614,925 | |||||||
| Provision for credit losses | (18,510) | (5,959) | 2 | 4,776 | (19,691) | ||||||||||||
| Non-interest income | 49,747 | 142,386 | 161,824 | 5,722 | 359,679 | ||||||||||||
| Investment securities gains (losses), net | — | — | — | 24,477 | 24,477 | ||||||||||||
| Non-interest expense | (175,216) | (237,445) | (125,174) | (50,359) | (588,194) | ||||||||||||
| Income before income taxes | $ | 102,798 | $ | 163,983 | $ | 133,048 | $ | (8,633) | $ | 391,196 | |||||||
| Three Months Ended June 30, 2025 | |||||||||||||||||
| Net interest income | $ | 127,118 | $ | 127,613 | $ | 23,036 | $ | 2,380 | $ | 280,147 | |||||||
| Provision for loan losses | (9,569) | (108) | (18) | 4,098 | (5,597) | ||||||||||||
| Non-interest income | 24,430 | 74,654 | 63,848 | 2,681 | 165,613 | ||||||||||||
| Investment securities gains (losses), net | — | — | — | 437 | 437 | ||||||||||||
| Non-interest expense | (83,075) | (108,058) | (40,752) | (12,552) | (244,437) | ||||||||||||
| Income before income taxes | $ | 58,904 | $ | 94,101 | $ | 46,114 | $ | (2,956) | $ | 196,163 | |||||||
| Six Months Ended June 30, 2025 | |||||||||||||||||
| Net interest income | $ | 252,352 | $ | 260,879 | $ | 45,195 | $ | (9,177) | $ | 549,249 | |||||||
| Provision for credit losses | (19,819) | (640) | (18) | 393 | (20,084) | ||||||||||||
| Non-interest income | 47,690 | 144,980 | 127,886 | 4,006 | 324,562 | ||||||||||||
| Investment securities gains (losses), net | — | — | — | (7,154) | (7,154) | ||||||||||||
| Non-interest expense | (166,080) | (212,027) | (81,941) | (22,765) | (482,813) | ||||||||||||
| Income before income taxes | $ | 114,143 | $ | 193,192 | $ | 91,122 | $ | (34,697) | $ | 363,760 | |||||||
(In thousands) | June 30, 2026 | December 31, 2025 | ||||||
| Interest rate swaps | $ | 2,112,473 | $ | 1,968,679 | ||||
| Interest rate floors | 2,500,000 | 2,000,000 | ||||||
| Interest rate caps | 238,700 | 105,770 | ||||||
| Credit risk participation agreements | 448,224 | 474,951 | ||||||
| Foreign exchange contracts | 16,171 | 29,451 | ||||||
Mortgage loan commitments | 6,427 | 6,297 | ||||||
| Mortgage loan forward sale contracts | 1,113 | 1,794 | ||||||
| Forward TBA contracts | 7,500 | 7,000 | ||||||
| Total notional amount | $ | 5,330,608 | $ | 4,593,942 | ||||
| Strike Rate | Effective Date | Maturity Date | ||||||
| 3.50 | % | July 1, 2024 | July 1, 2030 | |||||
| 3.25 | % | November 1, 2024 | November 1, 2030 | |||||
| 3.00 | % | March 1, 2025 | March 1, 2031 | |||||
| 2.75 | % | July 1, 2025 | July 1, 2031 | |||||
| 3.00 | % | October 1, 2026 | October 1, 2032 | |||||
| Asset Derivatives | Liability Derivatives | ||||||||||||||||
| June 30, 2026 | Dec. 31, 2025 | June 30, 2026 | Dec. 31, 2025 | ||||||||||||||
(In thousands) | Fair Value | Fair Value | |||||||||||||||
| Derivatives designated as hedging instruments: | |||||||||||||||||
| Interest rate floors | $ | 27,472 | $ | 32,524 | $ | — | $ | — | |||||||||
| Interest rate swaps | $ | — | $ | — | $ | (318) | $ | — | |||||||||
| Total derivatives designated as hedging instruments | $ | 27,472 | $ | 32,524 | $ | (318) | $ | — | |||||||||
| Derivative instruments not designated as hedging instruments: | |||||||||||||||||
| Interest rate swaps | $ | 15,491 | $ | 18,294 | $ | (15,491) | $ | (18,294) | |||||||||
| Interest rate caps | 599 | 2 | (598) | (2) | |||||||||||||
| Credit risk participation agreements | 38 | 56 | (26) | (77) | |||||||||||||
| Foreign exchange contracts | 407 | 396 | (265) | (401) | |||||||||||||
| Mortgage loan commitments | 138 | 133 | (4) | — | |||||||||||||
| Mortgage loan forward sale contracts | 5 | 15 | — | — | |||||||||||||
| Forward TBA contracts | 4 | 1 | (20) | (21) | |||||||||||||
| Total derivatives not designated as hedging instruments | $ | 16,682 | $ | 18,897 | $ | (16,404) | $ | (18,795) | |||||||||
| Total | $ | 44,154 | $ | 51,421 | $ | (16,722) | $ | (18,795) | |||||||||
| Location of Gain or (Loss) Recognized in Consolidated Statements of Income | Amount of Gain or (Loss) Recognized in Income on Derivatives | |||||||||||||||||||
| For the Three Months Ended June 30 | For the Six Months Ended June 30 | |||||||||||||||||||
| (In thousands) | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||
| Derivatives and hedged instruments in fair value hedging relationships: | ||||||||||||||||||||
| Interest rate swaps and hedged loans | Interest and fees on loans | $ | — | $ | — | $ | (6) | $ | — | |||||||||||
| Total | $ | — | $ | — | $ | (6) | $ | — | ||||||||||||
| Derivative instruments: | ||||||||||||||||||||
| Interest rate swaps | Other non-interest income | $ | 1,440 | $ | 642 | $ | 1,537 | $ | 747 | |||||||||||
| Interest rate caps | Other non-interest income | 38 | — | 40 | — | |||||||||||||||
| Credit risk participation agreements | Other non-interest income | (64) | 186 | (374) | 178 | |||||||||||||||
| Foreign exchange contracts | Other non-interest income | 88 | (184) | 147 | (216) | |||||||||||||||
| Mortgage loan commitments | Loan fees and sales | 29 | 151 | 1 | 195 | |||||||||||||||
| Mortgage loan forward sale contracts | Loan fees and sales | (1) | (1) | (10) | (11) | |||||||||||||||
| Forward TBA contracts | Loan fees and sales | (19) | (35) | — | (100) | |||||||||||||||
| Total | $ | 1,511 | $ | 759 | $ | 1,341 | $ | 793 | ||||||||||||
| Gross Amounts Not Offset in the Balance Sheet | ||||||||||||||||||||
| (In thousands) | Gross Amount Recognized | Gross Amounts Offset in the Balance Sheet | Net Amounts Presented in the Balance Sheet | Financial Instruments Available for Offset | Collateral Received/ Pledged | Net Amount | ||||||||||||||
| June 30, 2026 | ||||||||||||||||||||
| Assets: | ||||||||||||||||||||
Derivatives subject to master netting agreements | $ | 43,803 | $ | — | $ | 43,803 | $ | (4,145) | $ | (34,479) | $ | 5,179 | ||||||||
Derivatives not subject to master netting agreements | 351 | — | 351 | |||||||||||||||||
| Total derivatives | $ | 44,154 | $ | — | $ | 44,154 | ||||||||||||||
| Liabilities: | ||||||||||||||||||||
Derivatives subject to master netting agreements | $ | 16,445 | $ | — | $ | 16,445 | $ | (4,145) | $ | (316) | $ | 11,984 | ||||||||
Derivatives not subject to master netting agreements | 277 | — | 277 | |||||||||||||||||
| Total derivatives | $ | 16,722 | $ | — | $ | 16,722 | ||||||||||||||
| December 31, 2025 | ||||||||||||||||||||
| Assets: | ||||||||||||||||||||
Derivatives subject to master netting agreements | $ | 51,217 | $ | — | $ | 51,217 | $ | (10,642) | $ | (29,609) | $ | 10,966 | ||||||||
Derivatives not subject to master netting agreements | 204 | — | 204 | |||||||||||||||||
| Total derivatives | $ | 51,421 | $ | — | $ | 51,421 | ||||||||||||||
| Liabilities: | ||||||||||||||||||||
Derivatives subject to master netting agreements | $ | 18,400 | $ | — | $ | 18,400 | $ | (10,642) | $ | — | $ | 7,758 | ||||||||
Derivatives not subject to master netting agreements | 395 | — | 395 | |||||||||||||||||
| Total derivatives | $ | 18,795 | $ | — | $ | 18,795 | ||||||||||||||
| Gross Amounts Not Offset in the Balance Sheet | ||||||||||||||||||||
| (In thousands) | Gross Amount Recognized | Gross Amounts Offset in the Balance Sheet | Net Amounts Presented in the Balance Sheet | Financial Instruments Available for Offset | Securities Collateral Received/Pledged | Unsecured Amount | ||||||||||||||
| June 30, 2026 | ||||||||||||||||||||
Total resale agreements, subject to master netting arrangements | $ | 1,150,000 | $ | — | $ | 1,150,000 | $ | — | $ | (1,150,000) | $ | — | ||||||||
Total repurchase agreements, subject to master netting arrangements | 2,306,471 | — | 2,306,471 | — | (2,306,471) | — | ||||||||||||||
| December 31, 2025 | ||||||||||||||||||||
Total resale agreements, subject to master netting arrangements | $ | 850,000 | $ | — | $ | 850,000 | $ | — | $ | (850,000) | $ | — | ||||||||
Total repurchase agreements, subject to master netting arrangements | 2,861,016 | — | 2,861,016 | — | (2,861,016) | — | ||||||||||||||
| Remaining Contractual Maturity of the Agreements | ||||||||||||||
| (In thousands) | Overnight and continuous | Up to 90 days | Greater than 90 days | Total | ||||||||||
| June 30, 2026 | ||||||||||||||
| Repurchase agreements, secured by: | ||||||||||||||
| U.S. government and federal agency obligations | $ | 781,194 | $ | — | $ | — | $ | 781,194 | ||||||
| Government-sponsored enterprise obligations | 10,443 | — | — | 10,443 | ||||||||||
| Agency mortgage-backed securities | 999,669 | 3,900 | 24,250 | 1,027,819 | ||||||||||
| Non-agency mortgage-backed securities | 20,480 | — | — | 20,480 | ||||||||||
| Asset-backed securities | 318,542 | 19,993 | 21,516 | 360,051 | ||||||||||
| Other debt securities | 106,484 | — | — | 106,484 | ||||||||||
| Total repurchase agreements, gross amount recognized | $ | 2,236,812 | $ | 23,893 | $ | 45,766 | $ | 2,306,471 | ||||||
| December 31, 2025 | ||||||||||||||
| Repurchase agreements, secured by: | ||||||||||||||
| U.S. government and federal agency obligations | $ | 503,061 | $ | — | $ | — | $ | 503,061 | ||||||
| Government-sponsored enterprise obligations | 10,539 | — | — | 10,539 | ||||||||||
| Agency mortgage-backed securities | 1,647,928 | 4,600 | 26,750 | 1,679,278 | ||||||||||
| Non-agency mortgage-backed securities | 21,970 | — | — | 21,970 | ||||||||||
| Asset-backed securities | 453,827 | 29,656 | 21,226 | 504,709 | ||||||||||
| Other debt securities | 141,459 | — | — | 141,459 | ||||||||||
| Total repurchase agreements, gross amount recognized | $ | 2,778,784 | $ | 34,256 | $ | 47,976 | $ | 2,861,016 | ||||||
| Shares | Weighted Average Grant Date Fair Value | |||||||
| Nonvested at January 1, 2026 | 1,305,978 | $55.11 | ||||||
| Granted | 206,153 | 53.81 | ||||||
| Vested | (229,227) | 56.60 | ||||||
| Forfeited | (17,802) | 54.39 | ||||||
| Nonvested at June 30, 2026 | 1,265,102 | $54.63 | ||||||
| Time-Vested Restricted Stock Units | Performance-Vested Restricted Stock Units | ||||||||||||||||
| Units | Weighted Average Grant Date Fair Value | Units | Weighted Average Grant Date Fair Value | ||||||||||||||
| Nonvested at January 1, 2026 | — | $— | — | $— | |||||||||||||
| Granted | 293,355 | 52.06 | 95,266 | 52.68 | |||||||||||||
Adjustment (1) | — | — | — | — | |||||||||||||
| Vested | — | — | — | — | |||||||||||||
| Forfeited | (2,131) | 50.91 | — | — | |||||||||||||
| Nonvested at June 30, 2026 | 291,224 | $52.07 | 95,266 | $52.68 | |||||||||||||
| Fair value on valuation date | $52.68 | ||||
| Assumptions: | |||||
| Dividend yield | — | % | |||
| Historical volatility | 25.7 | % | |||
| Risk-free interest rate | 3.5 | % | |||
| Expected term | 2.9 years | ||||
(Dollars in thousands, except per share data) | Rights | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term | Aggregate Intrinsic Value | ||||||||||
| Outstanding at January 1, 2026 | 850,956 | $47.99 | ||||||||||||
| Granted | — | — | ||||||||||||
| Forfeited | (1,816) | 55.06 | ||||||||||||
| Expired | (2,495) | 52.72 | ||||||||||||
| Exercised | (70,724) | 30.65 | ||||||||||||
Outstanding at June 30, 2026 | 775,921 | $49.54 | 4.6 years | $6,634 | ||||||||||
| Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||||
| (In thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Trust fees | $ | 71,512 | $ | 55,571 | $ | 142,561 | $ | 112,163 | |||||||||
| Bank card transaction fees | 48,121 | 46,362 | 93,706 | 91,955 | |||||||||||||
| Deposit account charges and other fees | 29,259 | 26,248 | 57,837 | 52,870 | |||||||||||||
| Consumer brokerage services | 5,862 | 5,383 | 11,306 | 10,168 | |||||||||||||
| Other non-interest income | 14,087 | 18,817 | 27,829 | 33,208 | |||||||||||||
| Total non-interest income from contracts with customers | 168,841 | 152,381 | 333,239 | 300,364 | |||||||||||||
Other non-interest income (1) | 14,987 | 13,232 | 26,440 | 24,198 | |||||||||||||
| Total non-interest income | $ | 183,828 | $ | 165,613 | $ | 359,679 | $ | 324,562 | |||||||||
| (In thousands) | June 30, 2026 | December 31, 2025 | June 30, 2025 | December 31, 2024 | ||||||||||
| Bank card transaction fees | $ | 15,067 | $ | 16,878 | $ | 14,296 | $ | 17,754 | ||||||
| Trust fees | 6,127 | 2,424 | 1,937 | 2,165 | ||||||||||
| Deposit account charges and other fees | 8,998 | 8,414 | 8,039 | 7,897 | ||||||||||
| Fair Value Measurements Using | ||||||||||||||
| (In thousands) | Total Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||
| June 30, 2026 | ||||||||||||||
| Assets: | ||||||||||||||
| Residential mortgage loans held for sale | $ | 3,376 | $ | — | $ | 3,376 | $ | — | ||||||
| Available for sale debt securities: | ||||||||||||||
| U.S. government and federal agency obligations | 3,486,809 | 3,486,809 | — | — | ||||||||||
| Government-sponsored enterprise obligations | 43,849 | — | 43,849 | — | ||||||||||
| State and municipal obligations | 640,224 | — | 639,259 | 965 | ||||||||||
| Agency mortgage-backed securities | 2,602,290 | — | 2,602,290 | — | ||||||||||
| Non-agency mortgage-backed securities | 385,318 | — | 385,318 | — | ||||||||||
| Asset-backed securities | 1,002,658 | — | 1,002,658 | — | ||||||||||
| Other debt securities | 161,486 | — | 161,486 | — | ||||||||||
| Trading debt securities | 57,651 | 8,338 | 49,313 | — | ||||||||||
| Equity securities | 33,195 | 33,195 | — | — | ||||||||||
| Private equity investments | 181,033 | — | — | 181,033 | ||||||||||
| Derivatives * | 44,154 | — | 43,978 | 176 | ||||||||||
| Assets held in trust for deferred compensation plan | 24,569 | 24,569 | — | — | ||||||||||
| Total assets | 8,666,612 | 3,552,911 | 4,931,527 | 182,174 | ||||||||||
| Liabilities: | ||||||||||||||
Derivatives * | 16,722 | — | 16,692 | 30 | ||||||||||
Liabilities held in trust for deferred compensation plan | 24,569 | 24,569 | — | — | ||||||||||
| Total liabilities | $ | 41,291 | $ | 24,569 | $ | 16,692 | $ | 30 | ||||||
| December 31, 2025 | ||||||||||||||
| Assets: | ||||||||||||||
| Residential mortgage loans held for sale | $ | 4,028 | $ | — | $ | 4,028 | $ | — | ||||||
| Available for sale debt securities: | ||||||||||||||
| U.S. government and federal agency obligations | 3,279,100 | 3,279,100 | — | — | ||||||||||
| Government-sponsored enterprise obligations | 44,712 | — | 44,712 | — | ||||||||||
| State and municipal obligations | 664,733 | — | 663,781 | 952 | ||||||||||
| Agency mortgage-backed securities | 3,223,105 | — | 3,223,105 | — | ||||||||||
| Non-agency mortgage-backed securities | 435,688 | — | 435,688 | — | ||||||||||
| Asset-backed securities | 1,262,045 | — | 1,262,045 | — | ||||||||||
| Other debt securities | 186,130 | — | 186,130 | — | ||||||||||
| Trading debt securities | 40,080 | 13,215 | 26,865 | — | ||||||||||
| Equity securities | 47,551 | 47,551 | — | — | ||||||||||
| Private equity investments | 184,343 | — | — | 184,343 | ||||||||||
| Derivatives * | 51,421 | — | 51,232 | 189 | ||||||||||
| Assets held in trust for deferred compensation plan | 23,276 | 23,276 | — | — | ||||||||||
| Total assets | 9,446,212 | 3,363,142 | 5,897,586 | 185,484 | ||||||||||
| Liabilities: | ||||||||||||||
Derivatives * | 18,795 | — | 18,718 | 77 | ||||||||||
Liabilities held in trust for deferred compensation plan | 23,276 | 23,276 | — | — | ||||||||||
| Total liabilities | $ | 42,071 | $ | 23,276 | $ | 18,718 | $ | 77 | ||||||
| (In thousands) | Investment Securities Gains (Losses), Net | ||||
For the three months ended June 30, 2026 | |||||
| Total gains or losses included in earnings | $ | (3,951) | |||
Change in unrealized gains or losses relating to assets still held at June 30, 2026 | $ | (3,951) | |||
For the six months ended June 30, 2026 | |||||
| Total gains or losses included in earnings | $ | 6,939 | |||
Change in unrealized gains or losses relating to assets still held at June 30, 2026 | $ | 6,939 | |||
For the three months ended June 30, 2025 | |||||
| Total gains or losses included in earnings | $ | 4,414 | |||
Change in unrealized gains or losses relating to assets still held at June 30, 2025 | $ | 4,414 | |||
For the six months ended June 30, 2025 | |||||
| Total gains or losses included in earnings | $ | (4,111) | |||
Change in unrealized gains or losses relating to assets still held at June 30, 2025 | $ | (3,312) | |||
| Quantitative Information about Level 3 Fair Value Measurements | Weighted | ||||||||||||||||||||||
| Valuation Technique | Unobservable Input | Range | Average* | ||||||||||||||||||||
| Private equity investments | Market comparable companies | EBITDA multiple | 4.0 | - | 6.5 | 5.2 | |||||||||||||||||
| Fair Value Measurements Using | |||||||||||||||||
| (In thousands) | Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total Gains (Losses) Recognized During the Six Months Ended June 30 | ||||||||||||
| June 30, 2026 | |||||||||||||||||
| Collateral dependent loans | $ | 9,140 | $ | — | $ | — | $ | 9,140 | $ | (3,749) | |||||||
| Long-lived assets | 703 | — | — | 703 | (126) | ||||||||||||
| June 30, 2025 | |||||||||||||||||
| Collateral dependent loans | $ | 251 | $ | — | $ | — | $ | 251 | $ | (147) | |||||||
| Carrying Amount | Estimated Fair Value at June 30, 2026 | |||||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
| Financial Assets | ||||||||||||||||||||
| Loans: | ||||||||||||||||||||
| Business | $ | 7,115,984 | $ | — | $ | — | $ | 7,013,375 | $ | 7,013,375 | ||||||||||
Real estate - construction and land | 1,493,455 | — | — | 1,465,846 | 1,465,846 | |||||||||||||||
Real estate - business | 4,064,253 | — | — | 3,985,828 | 3,985,828 | |||||||||||||||
Real estate - personal | 4,369,077 | — | — | 4,086,228 | 4,086,228 | |||||||||||||||
Consumer | 2,527,448 | — | — | 2,505,133 | 2,505,133 | |||||||||||||||
| Revolving home equity | 649,332 | — | — | 634,254 | 634,254 | |||||||||||||||
| Consumer credit card | 561,277 | — | — | 508,391 | 508,391 | |||||||||||||||
Overdrafts | 52,655 | — | — | 52,524 | 52,524 | |||||||||||||||
| Total loans | 20,833,481 | — | — | 20,251,579 | 20,251,579 | |||||||||||||||
| Loans held for sale | 3,799 | — | 3,799 | — | 3,799 | |||||||||||||||
| Investment securities | 8,656,217 | 3,528,342 | 4,884,173 | 243,702 | 8,656,217 | |||||||||||||||
| Federal funds sold | 2,010 | 2,010 | — | — | 2,010 | |||||||||||||||
| Securities purchased under agreements to resell | 1,150,000 | — | — | 1,149,880 | 1,149,880 | |||||||||||||||
| Interest earning deposits with banks | 2,260,162 | 2,260,162 | — | — | 2,260,162 | |||||||||||||||
| Cash and due from banks | 645,674 | 645,674 | — | — | 645,674 | |||||||||||||||
| Derivative instruments | 44,154 | — | 43,978 | 176 | 44,154 | |||||||||||||||
| Assets held in trust for deferred compensation plan | 24,569 | 24,569 | — | — | 24,569 | |||||||||||||||
| Total | $ | 33,620,066 | $ | 6,460,757 | $ | 4,931,950 | $ | 21,645,337 | $ | 33,038,044 | ||||||||||
| Financial Liabilities | ||||||||||||||||||||
| Non-interest bearing deposits | $ | 8,172,552 | $ | 8,172,552 | $ | — | $ | — | $ | 8,172,552 | ||||||||||
| Savings, interest checking and money market deposits | 17,320,654 | 17,320,654 | — | — | 17,320,654 | |||||||||||||||
| Certificates of deposit | 2,382,496 | — | — | 2,407,213 | 2,407,213 | |||||||||||||||
| Federal funds purchased | 121,820 | 121,820 | — | — | 121,820 | |||||||||||||||
| Securities sold under agreements to repurchase | 2,306,471 | — | — | 2,308,593 | 2,308,593 | |||||||||||||||
| Other borrowings | 26,183 | 20,756 | 5,427 | — | 26,183 | |||||||||||||||
| Derivative instruments | 16,722 | — | 16,692 | 30 | 16,722 | |||||||||||||||
| Liabilities held in trust for deferred compensation plan | 24,569 | 24,569 | — | — | 24,569 | |||||||||||||||
| Total | $ | 30,371,467 | $ | 25,660,351 | $ | 22,119 | $ | 4,715,836 | $ | 30,398,306 | ||||||||||
| Carrying Amount | Estimated Fair Value at December 31, 2025 | |||||||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
| Financial Assets | ||||||||||||||||||||
| Loans: | ||||||||||||||||||||
| Business | $ | 6,439,380 | $ | — | $ | — | $ | 6,367,754 | $ | 6,367,754 | ||||||||||
Real estate - construction and land | 1,438,012 | — | — | 1,415,490 | 1,415,490 | |||||||||||||||
Real estate - business | 3,674,567 | — | — | 3,628,499 | 3,628,499 | |||||||||||||||
Real estate - personal | 3,053,435 | — | — | 2,815,384 | 2,815,384 | |||||||||||||||
Consumer | 2,196,822 | — | — | 2,188,772 | 2,188,772 | |||||||||||||||
| Revolving home equity | 375,159 | — | — | 371,998 | 371,998 | |||||||||||||||
| Consumer credit card | 589,694 | — | — | 535,660 | 535,660 | |||||||||||||||
Overdrafts | 4,194 | — | — | 4,045 | 4,045 | |||||||||||||||
| Total loans | 17,771,263 | — | — | 17,327,602 | 17,327,602 | |||||||||||||||
| Loans held for sale | 4,329 | — | 4,329 | — | 4,329 | |||||||||||||||
| Investment securities | 9,413,603 | 3,339,866 | 5,842,326 | 231,411 | 9,413,603 | |||||||||||||||
| Securities purchased under agreements to resell | 850,000 | — | — | 869,427 | 869,427 | |||||||||||||||
| Interest earning deposits with banks | 2,744,393 | 2,744,393 | — | — | 2,744,393 | |||||||||||||||
| Cash and due from banks | 803,239 | 803,239 | — | — | 803,239 | |||||||||||||||
| Derivative instruments | 51,421 | — | 51,232 | 189 | 51,421 | |||||||||||||||
| Assets held in trust for deferred compensation plan | 23,276 | 23,276 | — | — | 23,276 | |||||||||||||||
| Total | $ | 31,661,524 | $ | 6,910,774 | $ | 5,897,887 | $ | 18,428,629 | $ | 31,237,290 | ||||||||||
| Financial Liabilities | ||||||||||||||||||||
| Non-interest bearing deposits | $ | 8,205,711 | $ | 8,205,711 | $ | — | $ | — | $ | 8,205,711 | ||||||||||
| Savings, interest checking and money market deposits | 15,047,406 | 15,047,406 | — | — | 15,047,406 | |||||||||||||||
| Certificates of deposit | 2,386,459 | — | — | 2,418,268 | 2,418,268 | |||||||||||||||
| Federal funds purchased | 128,625 | 128,625 | — | — | 128,625 | |||||||||||||||
| Securities sold under agreements to repurchase | 2,861,016 | — | — | 2,863,921 | 2,863,921 | |||||||||||||||
| Other borrowings | 12,739 | 12,739 | — | — | 12,739 | |||||||||||||||
| Derivative instruments | 18,795 | — | 18,718 | 77 | 18,795 | |||||||||||||||
| Liabilities held in trust for deferred compensation plan | 23,276 | 23,276 | — | — | 23,276 | |||||||||||||||
| Total | $ | 28,684,027 | $ | 23,417,757 | $ | 18,718 | $ | 5,282,266 | $ | 28,718,741 | ||||||||||
| Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||
| Per Share Data | |||||||||||||||||
| Net income per common share — basic | $ | 1.10 | $ | 1.09 | * | $ | 2.06 | $ | 2.02 | * | |||||||
| Net income per common share — diluted | 1.10 | 1.09 | * | 2.06 | 2.02 | * | |||||||||||
| Cash dividends on common stock | .275 | .262 | * | .550 | .524 | * | |||||||||||
| Book value per common share | 30.45 | 26.12 | * | ||||||||||||||
| Market price | 57.75 | 59.21 | * | ||||||||||||||
| Selected Ratios | |||||||||||||||||
| (Based on average balance sheets) | |||||||||||||||||
Loans to deposits (1) | 74.44 | % | 70.22 | % | 73.94 | % | 69.80 | % | |||||||||
| Non-interest bearing deposits to total deposits | 29.15 | 29.52 | 28.79 | 29.45 | |||||||||||||
Equity to loans (1) | 21.25 | 20.09 | 21.31 | 19.83 | |||||||||||||
| Equity to deposits | 15.82 | 14.11 | 15.75 | 13.84 | |||||||||||||
| Equity to total assets | 12.50 | 11.23 | 12.39 | 10.97 | |||||||||||||
| Return on total assets | 1.84 | 1.95 | 1.73 | 1.82 | |||||||||||||
| Return on equity | 14.70 | 17.40 | 13.96 | 16.63 | |||||||||||||
| (Based on end-of-period data) | |||||||||||||||||
Non-interest income to revenue (2) | 36.85 | 37.15 | 36.91 | 37.14 | |||||||||||||
Efficiency ratio (3) | 58.40 | 54.77 | 59.19 | 55.18 | |||||||||||||
| Tier I common risk-based capital ratio | 16.85 | 17.17 | |||||||||||||||
Tier I risk-based capital ratio | 16.85 | 17.17 | |||||||||||||||
| Total risk-based capital ratio | 17.64 | 17.94 | |||||||||||||||
Tangible common equity to tangible assets ratio (4) | 11.39 | 10.86 | |||||||||||||||
Tier I leverage ratio | 12.81 | 12.75 | |||||||||||||||
| June 30 | ||||||||
| (Dollars in thousands) | 2026 | 2025 | ||||||
| Total equity | $ | 4,381,805 | $ | 3,660,114 | ||||
| Less non-controlling interest | 24,127 | 19,542 | ||||||
| Less goodwill | 253,805 | 146,539 | ||||||
| Less intangible assets* | 131,003 | 3,785 | ||||||
| Total tangible common equity (a) | $ | 3,972,870 | $ | 3,490,248 | ||||
| Total assets | $ | 35,269,167 | $ | 32,284,247 | ||||
| Less goodwill | 253,805 | 146,539 | ||||||
| Less intangible assets* | 131,003 | 3,785 | ||||||
| Total tangible assets (b) | $ | 34,884,359 | $ | 32,133,923 | ||||
| Tangible common equity to tangible assets ratio (a)/(b) | 11.39 | % | 10.86 | % | ||||
| Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||||||||||
| (Dollars in thousands) | 2026 | 2025 | % change | 2026 | 2025 | % change | |||||||||||||||||
| Net interest income (expense) | $ | 315,085 | $ | 280,147 | 12.5 | % | $ | 614,925 | $ | 549,249 | 12.0 | % | |||||||||||
| Provision for credit losses | (8,731) | (5,597) | 56.0 | (19,691) | (20,084) | (2.0) | |||||||||||||||||
| Non-interest income | 183,828 | 165,613 | 11.0 | 359,679 | 324,562 | 10.8 | |||||||||||||||||
| Investment securities gains (losses), net | 12,830 | 437 | N.M. | 24,477 | (7,154) | N.M. | |||||||||||||||||
| Non-interest expense | (297,068) | (244,437) | 21.5 | (588,194) | (482,813) | 21.8 | |||||||||||||||||
| Income taxes | (45,775) | (42,400) | 8.0 | (86,656) | (79,364) | 9.2 | |||||||||||||||||
| Non-controlling interest income (expense) | (379) | (1,284) | (70.5) | (3,127) | (325) | N.M. | |||||||||||||||||
| Net income attributable to Commerce Bancshares, Inc. | $ | 159,790 | $ | 152,479 | 4.8 | % | $ | 301,413 | $ | 284,071 | 6.1 | % | |||||||||||
| Three Months Ended June 30, 2026 vs. 2025 | Six Months Ended June 30, 2026 vs. 2025 | ||||||||||||||||||||||
| Change due to | Change due to | ||||||||||||||||||||||
(In thousands) | Average Volume | Average Rate | Total | Average Volume | Average Rate | Total | |||||||||||||||||
| Interest income, fully taxable-equivalent basis: | |||||||||||||||||||||||
| Loans: | |||||||||||||||||||||||
| Business | $ | 9,076 | $ | (5,864) | $ | 3,212 | $ | 17,642 | $ | (11,869) | $ | 5,773 | |||||||||||
| Real estate - construction and land | 2,117 | (3,829) | (1,712) | 5,313 | (6,623) | (1,310) | |||||||||||||||||
| Real estate - business | 5,465 | (2,136) | 3,329 | 10,943 | (3,446) | 7,497 | |||||||||||||||||
| Real estate - personal | 14,342 | 5,304 | 19,646 | 28,814 | 11,226 | 40,040 | |||||||||||||||||
| Consumer | 5,199 | (1,883) | 3,316 | 10,642 | (3,745) | 6,897 | |||||||||||||||||
| Revolving home equity | 4,946 | (213) | 4,733 | 9,468 | (179) | 9,289 | |||||||||||||||||
| Consumer credit card | (498) | (823) | (1,321) | (664) | (1,991) | (2,655) | |||||||||||||||||
| Overdrafts | — | — | — | — | — | — | |||||||||||||||||
| Total interest on loans | 40,647 | (9,444) | 31,203 | 82,158 | (16,627) | 65,531 | |||||||||||||||||
| Loans held for sale | (9) | (8) | (17) | 8 | (19) | (11) | |||||||||||||||||
| Investment securities: | |||||||||||||||||||||||
| U.S. government and federal agency obligations | 7,908 | 3,979 | 11,887 | 13,981 | 197 | 14,178 | |||||||||||||||||
| Government-sponsored enterprise obligations | (3) | 1 | (2) | (6) | — | (6) | |||||||||||||||||
| State and municipal obligations | (430) | 50 | (380) | (910) | 133 | (777) | |||||||||||||||||
| Mortgage-backed securities | (3,246) | 195 | (3,051) | (6,206) | 550 | (5,656) | |||||||||||||||||
| Asset-backed securities | (4,914) | 124 | (4,790) | (8,753) | 1,105 | (7,648) | |||||||||||||||||
| Other securities | 1,022 | (2,076) | (1,054) | 1,408 | (3,142) | (1,734) | |||||||||||||||||
| Total interest on investment securities | 337 | 2,273 | 2,610 | (486) | (1,157) | (1,643) | |||||||||||||||||
| Federal funds sold | 6 | (2) | 4 | (9) | (9) | (18) | |||||||||||||||||
| Securities purchased under agreements to resell | 848 | 28 | 876 | 1,418 | 495 | 1,913 | |||||||||||||||||
| Interest earning deposits with banks | 5,995 | (4,867) | 1,128 | 12,691 | (10,467) | 2,224 | |||||||||||||||||
| Total interest income | 47,824 | (12,020) | 35,804 | 95,780 | (27,784) | 67,996 | |||||||||||||||||
| Interest expense: | |||||||||||||||||||||||
| Deposits: | |||||||||||||||||||||||
| Savings | 3 | 22 | 25 | 4 | 68 | 72 | |||||||||||||||||
| Interest checking and money market | 8,286 | (2,950) | 5,336 | 17,543 | (6,100) | 11,443 | |||||||||||||||||
| Certificates of deposit of less than $100,000 | 538 | (1,118) | (580) | 1,140 | (2,569) | (1,429) | |||||||||||||||||
| Certificates of deposit of $100,000 and over | 393 | (1,905) | (1,512) | 1,571 | (4,304) | (2,733) | |||||||||||||||||
| Total interest on deposits | 9,220 | (5,951) | 3,269 | 20,258 | (12,905) | 7,353 | |||||||||||||||||
| Federal funds purchased | 1,310 | (436) | 874 | 1,456 | (686) | 770 | |||||||||||||||||
| Securities sold under agreements to repurchase | (511) | (2,852) | (3,363) | (856) | (5,951) | (6,807) | |||||||||||||||||
| Other borrowings | (13) | (10) | (23) | 858 | (13) | 845 | |||||||||||||||||
| Total interest expense | 10,006 | (9,249) | 757 | 21,716 | $ | (19,555) | $ | 2,161 | |||||||||||||||
| Net interest income, fully taxable-equivalent basis | $ | 37,818 | $ | (2,771) | $ | 35,047 | $ | 74,064 | $ | (8,229) | $ | 65,835 | |||||||||||
| Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||||||||||||||||
| Increase (Decrease) | Increase (Decrease) | ||||||||||||||||||||||||||||
| (Dollars in thousands) | 2026 | 2025 | Amount | % change | 2026 | 2025 | Amount | % change | |||||||||||||||||||||
| Trust fees | $ | 71,512 | $ | 55,571 | $ | 15,941 | 28.7 | % | $ | 142,561 | $ | 112,163 | $ | 30,398 | 27.1 | % | |||||||||||||
| Bank card transaction fees | 48,121 | 46,362 | 1,759 | 3.8 | 93,706 | 91,955 | 1,751 | 1.9 | |||||||||||||||||||||
| Deposit account charges and other fees | 29,259 | 26,248 | 3,011 | 11.5 | 57,837 | 52,870 | 4,967 | 9.4 | |||||||||||||||||||||
| Consumer brokerage services | 5,862 | 5,383 | 479 | 8.9 | 11,306 | 10,168 | 1,138 | 11.2 | |||||||||||||||||||||
| Capital market fees | 5,667 | 6,175 | (508) | (8.2) | 11,005 | 11,287 | (282) | (2.5) | |||||||||||||||||||||
| Loan fees and sales | 3,274 | 3,419 | (145) | (4.2) | 6,517 | 6,823 | (306) | (4.5) | |||||||||||||||||||||
| Other | 20,133 | 22,455 | (2,322) | (10.3) | 36,747 | 39,296 | (2,549) | (6.5) | |||||||||||||||||||||
| Total non-interest income | $ | 183,828 | $ | 165,613 | $ | 18,215 | 11.0 | % | $ | 359,679 | $ | 324,562 | $ | 35,117 | 10.8 | % | |||||||||||||
| Non-interest income as a % of total revenue* | 36.8 | % | 37.2 | % | 36.9 | % | 37.1 | % | |||||||||||||||||||||
| Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||||||||||||||||
| (Dollars in thousands) | 2026 | 2025 | $ change | % change | 2026 | 2025 | $ change | % change | |||||||||||||||||||||
| Net debit card fees | $ | 11,192 | $ | 11,260 | $ | (68) | (.6) | % | $ | 21,781 | $ | 21,548 | $ | 233 | 1.1 | % | |||||||||||||
| Net credit card fees | 4,046 | 3,242 | 804 | 24.8 | 7,481 | 6,850 | 631 | 9.2 | |||||||||||||||||||||
| Net merchant fees | 6,146 | 5,934 | 212 | 3.6 | 11,729 | 11,701 | 28 | .2 | |||||||||||||||||||||
| Net corporate card fees | 26,737 | 25,926 | 811 | 3.1 | 52,715 | 51,856 | 859 | 1.7 | |||||||||||||||||||||
| Total bank card transaction fees | $ | 48,121 | $ | 46,362 | $ | 1,759 | 3.8 | % | $ | 93,706 | $ | 91,955 | $ | 1,751 | 1.9 | % | |||||||||||||
| Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||||
| (In thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net gains (losses) on sales of available for sale debt securities | $ | (97,686) | $ | (4,218) | $ | (97,686) | $ | (4,214) | |||||||||
| Net gains (losses) on equity securities | 114,117 | 1,874 | 114,277 | 1,777 | |||||||||||||
| Net gains (losses) on sales of private equity investments | 350 | (1,633) | 947 | (606) | |||||||||||||
| Fair value adjustments on private equity investments | (3,951) | 4,414 | 6,939 | (4,111) | |||||||||||||
| Total investment securities gains (losses), net | $ | 12,830 | $ | 437 | $ | 24,477 | $ | (7,154) | |||||||||
| Three Months Ended June 30 | Six Months Ended June 30 | ||||||||||||||||||||||||||||
| Increase (Decrease) | Increase (Decrease) | ||||||||||||||||||||||||||||
| (Dollars in thousands) | 2026 | 2025 | Amount | % change | 2026 | 2025 | Amount | % change | |||||||||||||||||||||
| Salaries and employee benefits | $ | 179,954 | $ | 155,025 | $ | 24,929 | 16.1 | % | $ | 360,741 | $ | 308,103 | $ | 52,638 | 17.1 | % | |||||||||||||
| Data processing and software | 38,241 | 32,904 | 5,337 | 16.2 | 76,569 | 65,142 | 11,427 | 17.5 | |||||||||||||||||||||
| Professional and other services | 16,506 | 12,973 | 3,533 | 27.2 | 35,298 | 22,999 | 12,299 | 53.5 | |||||||||||||||||||||
| Net occupancy | 14,638 | 13,654 | 984 | 7.2 | 29,946 | 27,674 | 2,272 | 8.2 | |||||||||||||||||||||
| Marketing | 6,413 | 5,974 | 439 | 7.3 | 13,370 | 11,817 | 1,553 | 13.1 | |||||||||||||||||||||
| Equipment | 5,870 | 5,157 | 713 | 13.8 | 11,541 | 10,405 | 1,136 | 10.9 | |||||||||||||||||||||
| Supplies and communication | 5,484 | 4,962 | 522 | 10.5 | 10,722 | 10,008 | 714 | 7.1 | |||||||||||||||||||||
| Deposit insurance | 3,841 | 3,312 | 529 | 16.0 | 7,755 | 7,056 | 699 | 9.9 | |||||||||||||||||||||
| Other | 26,121 | 10,476 | 15,645 | 149.3 | 42,252 | 19,609 | 22,643 | 115.5 | |||||||||||||||||||||
| Total non-interest expense | $ | 297,068 | $ | 244,437 | $ | 52,631 | 21.5 | % | $ | 588,194 | $ | 482,813 | $ | 105,381 | 21.8 | % | |||||||||||||
| Three Months Ended | Six Months Ended June 30 | |||||||||||||||||||
| (In thousands) | June 30, 2026 | Mar. 31, 2026 | June 30, 2025 | 2026 | 2025 | |||||||||||||||
| ALLOWANCE FOR CREDIT LOSSES ON LOANS | ||||||||||||||||||||
| Balance at end of prior period | $ | 198,605 | $ | 179,468 | $ | 167,031 | $ | 179,468 | $ | 162,742 | ||||||||||
| Initial allowance for credit losses on purchased credit deteriorated loans at acquisition | — | 2,958 | — | 2,958 | — | |||||||||||||||
| Initial allowance for credit losses on purchased seasoned loans at acquisition | — | 19,870 | — | 19,870 | — | |||||||||||||||
| Provision for credit losses on loans | 6,311 | 11,283 | 7,919 | 17,594 | 23,014 | |||||||||||||||
| Net loan charge-offs (recoveries): | ||||||||||||||||||||
| Commercial: | ||||||||||||||||||||
| Business | 224 | 241 | 432 | 465 | 478 | |||||||||||||||
| Real estate-construction and land | — | — | 24 | — | 24 | |||||||||||||||
| Real estate-business | (7) | 5,405 | (425) | 5,398 | (48) | |||||||||||||||
| Commercial net loan charge-offs (recoveries) | 217 | 5,646 | 31 | 5,863 | 454 | |||||||||||||||
| Personal Banking: | ||||||||||||||||||||
| Real estate-personal | 203 | 2 | 35 | 205 | 107 | |||||||||||||||
| Consumer | 1,598 | 1,768 | 2,168 | 3,366 | 5,020 | |||||||||||||||
| Revolving home equity | 83 | 6 | 11 | 89 | 8 | |||||||||||||||
| Consumer credit card | 7,029 | 7,139 | 7,085 | 14,168 | 14,052 | |||||||||||||||
| Overdrafts | 411 | 413 | 360 | 824 | 855 | |||||||||||||||
| Personal banking net loan charge-offs (recoveries) | 9,324 | 9,328 | 9,659 | 18,652 | 20,042 | |||||||||||||||
| Total net loan charge-offs (recoveries) | 9,541 | 14,974 | 9,690 | 24,515 | 20,496 | |||||||||||||||
| Balance at end of period | $ | 195,375 | $ | 198,605 | $ | 165,260 | $ | 195,375 | $ | 165,260 | ||||||||||
| LIABILITY FOR UNFUNDED LENDING COMMITMENTS | ||||||||||||||||||||
| Balance at beginning of period | $ | 17,699 | $ | 17,660 | $ | 18,327 | $ | 17,660 | $ | 18,935 | ||||||||||
| Initial allowance for credit loss at acquisition | — | 362 | — | 362 | — | |||||||||||||||
| Provision for credit losses on unfunded lending commitments | 2,420 | (323) | (2,322) | 2,097 | (2,930) | |||||||||||||||
| Balance at end of period | 20,119 | 17,699 | 16,005 | 20,119 | 16,005 | |||||||||||||||
| ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LIABILITY FOR UNFUNDED LENDING COMMITMENTS | $ | 215,494 | $ | 216,304 | $ | 181,265 | $ | 215,494 | $ | 181,265 | ||||||||||
| Three Months Ended | Six Months Ended June 30 | |||||||||||||||||||
| June 30, 2026 | Mar. 31, 2026 | June 30, 2025 | 2026 | 2025 | ||||||||||||||||
| Annualized net loan charge-offs (recoveries)*: | ||||||||||||||||||||
| Commercial: | ||||||||||||||||||||
| Business | .01 | % | .01 | % | .03 | % | .01 | % | .02 | % | ||||||||||
| Real estate-construction and land | — | — | .01 | — | — | |||||||||||||||
| Real estate-business | — | .54 | (.05) | .27 | — | |||||||||||||||
| Commercial net loan charge-offs (recoveries) | .01 | .19 | — | .10 | .01 | |||||||||||||||
| Personal Banking: | ||||||||||||||||||||
| Real estate-personal | .02 | — | — | .01 | .01 | |||||||||||||||
| Consumer | .26 | .30 | .40 | .28 | .48 | |||||||||||||||
| Revolving home equity | .05 | — | .01 | .03 | — | |||||||||||||||
| Consumer credit card | 5.18 | 5.21 | 5.08 | 5.19 | 5.06 | |||||||||||||||
| Overdrafts | 22.61 | 23.45 | 25.50 | 23.02 | 29.93 | |||||||||||||||
| Personal banking net loan charge-offs (recoveries) | .47 | .47 | .63 | .47 | .66 | |||||||||||||||
| Total annualized net loan charge-offs (recoveries) | .19 | % | .30 | % | .22 | % | .24 | % | .24 | % | ||||||||||
| June 30, 2026 | Mar. 31, 2026 | Dec. 31, 2025 | ||||||||||||||||||||||||
(Dollars in thousands) | Credit Loss Allowance Allocation | % of ACL to Loan Category | Credit Loss Allowance Allocation | % of ACL to Loan Category | Credit Loss Allowance Allocation | % of ACL to Loan Category | ||||||||||||||||||||
| Business | $ | 57,295 | .81 | % | $ | 58,674 | .87 | % | $ | 53,238 | .83 | % | ||||||||||||||
| RE — construction and land | 30,322 | 2.03 | 31,430 | 1.99 | 29,053 | 2.02 | ||||||||||||||||||||
| RE — business | 36,013 | .89 | 35,133 | .87 | 34,574 | .94 | ||||||||||||||||||||
| RE — personal | 20,533 | .47 | 22,065 | .50 | 10,915 | .36 | ||||||||||||||||||||
| Consumer | 15,288 | .60 | 15,838 | .64 | 15,624 | .71 | ||||||||||||||||||||
| Revolving home equity | 3,517 | .54 | 3,403 | .55 | 1,738 | .46 | ||||||||||||||||||||
| Consumer credit card | 32,277 | 5.75 | 31,945 | 5.73 | 34,178 | 5.80 | ||||||||||||||||||||
| Overdrafts | 130 | .25 | 117 | 1.23 | 148 | 3.53 | ||||||||||||||||||||
| Total | $ | 195,375 | .94 | % | $ | 198,605 | .97 | % | $ | 179,468 | 1.01 | % | ||||||||||||||
(Dollars in thousands) | June 30, 2026 | December 31, 2025 | ||||||
| Non-accrual loans | $ | 11,618 | $ | 15,750 | ||||
| Foreclosed real estate | 1,211 | 1,218 | ||||||
| Total non-performing assets | $ | 12,829 | $ | 16,968 | ||||
| Non-performing assets as a percentage of total loans | .06 | % | .10 | % | ||||
| Non-performing assets as a percentage of total assets | .04 | % | .05 | % | ||||
| Total loans past due 90 days and still accruing interest | $ | 23,703 | $ | 24,659 | ||||
(In thousands) | June 30, 2026 | December 31, 2025 | ||||||
| Potential problem loans: | ||||||||
| Business | $ | 166,623 | $ | 112,018 | ||||
| Real estate – construction and land | 41,292 | 46,622 | ||||||
| Real estate – business | 106,928 | 106,163 | ||||||
| Real estate – personal | 1,792 | 91 | ||||||
| Consumer | 13 | — | ||||||
| Total potential problem loans | $ | 316,648 | $ | 264,894 | ||||
| (Dollars in thousands) | June 30, 2026 | % of Total | % of Total Loans | December 31, 2025 | % of Total | % of Total Loans | ||||||||||||||
| Commercial construction | $ | 1,138,600 | 76.2 | % | 5.5 | % | $ | 1,226,363 | 85.3 | % | 6.9 | % | ||||||||
| Residential construction | 232,753 | 15.6 | 1.1 | 105,874 | 7.4 | .6 | ||||||||||||||
| Residential land and land development | 76,681 | 5.2 | .4 | 63,288 | 4.3 | .4 | ||||||||||||||
| Commercial land and land development | 45,421 | 3.0 | .2 | 42,487 | 3.0 | .2 | ||||||||||||||
| Total real estate - construction and land loans | $ | 1,493,455 | 100.0 | % | 7.2 | % | $ | 1,438,012 | 100.0 | % | 8.1 | % | ||||||||
| (Dollars in thousands) | June 30, 2026 | % of Total | % of Total Loans | December 31, 2025 | % of Total | % of Total Loans | ||||||||||||||
| Owner-occupied | $ | 1,444,376 | 35.5 | % | 6.9 | % | $ | 1,248,172 | 34.0 | % | 7.0 | % | ||||||||
| Industrial | 643,105 | 15.8 | 3.1 | 628,223 | 17.1 | 3.5 | ||||||||||||||
| Office | 664,530 | 16.4 | 3.2 | 528,421 | 14.4 | 3.0 | ||||||||||||||
| Hotels | 374,106 | 9.2 | 1.8 | 326,147 | 8.9 | 1.8 | ||||||||||||||
| Multi-family | 289,224 | 7.1 | 1.4 | 317,541 | 8.6 | 1.8 | ||||||||||||||
| Retail | 331,150 | 8.1 | 1.6 | 292,490 | 8.0 | 1.6 | ||||||||||||||
| Farm | 196,935 | 4.8 | .9 | 199,678 | 5.4 | 1.1 | ||||||||||||||
| Senior living | 18,779 | .5 | .1 | 43,161 | 1.2 | .2 | ||||||||||||||
| Other | 102,048 | 2.6 | .5 | 90,734 | 2.4 | .7 | ||||||||||||||
| Total real estate - business loans | $ | 4,064,253 | 100.0 | % | 19.5 | % | $ | 3,674,567 | 100.0 | % | 20.7 | % | ||||||||
| (Dollars in thousands) | Pass | Special Mention | Substandard | Non-Accrual | Total | ||||||||||||
| June 30, 2026 | |||||||||||||||||
| Owner-occupied | $ | 1,385,611 | $ | 13,263 | $ | 45,378 | $ | 124 | $ | 1,444,376 | |||||||
| Industrial | 643,105 | — | — | — | 643,105 | ||||||||||||
| Office | 612,479 | 356 | 51,695 | — | 664,530 | ||||||||||||
| Hotels | 374,106 | — | — | — | 374,106 | ||||||||||||
| Multi-family | 245,662 | 43,562 | — | — | 289,224 | ||||||||||||
| Retail | 331,150 | — | — | — | 331,150 | ||||||||||||
| Farm | 195,496 | 1,238 | 52 | 149 | 196,935 | ||||||||||||
| Senior living | — | — | 9,687 | 9,092 | 18,779 | ||||||||||||
| Other | 102,048 | — | — | — | 102,048 | ||||||||||||
| Total | $ | 3,889,657 | $ | 58,419 | $ | 106,812 | $ | 9,365 | $ | 4,064,253 | |||||||
| December 31, 2025 | |||||||||||||||||
| Owner-occupied | $ | 1,198,970 | $ | 18,011 | $ | 31,067 | $ | 124 | $ | 1,248,172 | |||||||
| Industrial | 628,223 | — | — | — | 628,223 | ||||||||||||
| Office | 443,737 | 27,175 | 57,509 | — | 528,421 | ||||||||||||
| Hotels | 326,147 | — | — | — | 326,147 | ||||||||||||
| Multi-family | 250,018 | 56,633 | 10,890 | — | 317,541 | ||||||||||||
| Retail | 292,490 | — | — | — | 292,490 | ||||||||||||
| Farm | 197,566 | 1,686 | 273 | 153 | 199,678 | ||||||||||||
| Senior living | 22,262 | — | 6,391 | 14,508 | 43,161 | ||||||||||||
| Other | 89,157 | 1,577 | — | — | 90,734 | ||||||||||||
| Total | $ | 3,448,570 | $ | 105,082 | $ | 106,130 | $ | 14,785 | $ | 3,674,567 | |||||||
| June 30, 2026 | December 31, 2025 | |||||||
FICO score: | ||||||||
Under 600 | 5.3 | % | 5.4 | % | ||||
600 – 659 | 12.1 | 12.3 | ||||||
660 – 719 | 27.1 | 27.4 | ||||||
720 – 779 | 26.5 | 26.3 | ||||||
780 and over | 29.0 | 28.6 | ||||||
Total | 100.0 | % | 100.0 | % | ||||
(In thousands) | June 30, 2026 | December 31, 2025 | Unfunded commitments at June 30, 2026 | ||||||||
| Upstream activities | $ | 242,587 | $ | 228,660 | $ | 163,323 | |||||
| Mid-stream activities | 41,689 | 25,038 | 106,176 | ||||||||
| Downstream activities | 23,343 | 15,543 | 20,122 | ||||||||
| Support activities | 65,353 | 33,803 | 11,988 | ||||||||
| Total energy lending portfolio | $ | 372,972 | $ | 303,044 | $ | 301,609 | |||||
(In thousands) | June 30, 2026 | June 30, 2025 | December 31, 2025 | ||||||||
| Liquid assets: | |||||||||||
| Balances at the Federal Reserve Bank | $ | 2,260,162 | $ | 2,624,264 | $ | 2,744,393 | |||||
| Federal funds sold | 2,010 | — | — | ||||||||
| Available for sale debt securities | 8,322,634 | 8,915,779 | 9,095,513 | ||||||||
| Securities purchased under agreements to resell | 1,150,000 | — | 850,000 | ||||||||
| Total | $ | 11,734,806 | $ | 11,540,043 | $ | 12,689,906 | |||||
(In thousands) | June 30, 2026 | June 30, 2025 | December 31, 2025 | ||||||||
| Investment securities pledged for the purpose of securing: | |||||||||||
| Federal Reserve Bank borrowings | $ | 498,718 | $ | 625,132 | $ | 538,874 | |||||
| FHLB borrowings and letters of credit | 1,266,348 | 1,748,130 | 2,160,967 | ||||||||
| Securities sold under agreements to repurchase * | 2,386,013 | 2,535,105 | 2,937,267 | ||||||||
| Other deposits and swaps | 1,777,909 | 2,025,477 | 1,638,324 | ||||||||
| Total pledged securities | 5,928,988 | 6,933,844 | 7,275,432 | ||||||||
| Unpledged and available for pledging | 2,382,690 | 1,980,983 | 1,808,420 | ||||||||
| Ineligible for pledging | 10,956 | 952 | 11,661 | ||||||||
| Total available for sale debt securities, at fair value | $ | 8,322,634 | $ | 8,915,779 | $ | 9,095,513 | |||||
(In thousands) | June 30, 2026 | June 30, 2025 | December 31, 2025 | ||||||||
| Core deposit base: | |||||||||||
| Non-interest bearing | $ | 8,172,552 | $ | 7,393,559 | $ | 8,205,711 | |||||
| Interest checking | 8,754,045 | 8,121,371 | 7,360,515 | ||||||||
| Savings and money market | 8,566,609 | 7,606,178 | 7,686,891 | ||||||||
| Total | $ | 25,493,206 | $ | 23,121,108 | $ | 23,253,117 | |||||
(In thousands) | June 30, 2026 | June 30, 2025 | December 31, 2025 | ||||||||
| Borrowings: | |||||||||||
| Federal funds purchased | $ | 121,820 | $ | 125,975 | $ | 128,625 | |||||
| Securities sold under agreements to repurchase | 2,306,471 | 2,470,486 | 2,861,016 | ||||||||
| Other debt | 26,291 | 15,049 | 12,798 | ||||||||
| Total | $ | 2,454,582 | $ | 2,611,510 | $ | 3,002,439 | |||||
| June 30, 2026 | |||||||||||
| (In thousands) | FHLB | Federal Reserve | Total | ||||||||
| Total collateral value established by FHLB and FRB | $ | 3,945,114 | $ | 2,596,771 | $ | 6,541,885 | |||||
| Letters of credit issued | (98,817) | — | (98,817) | ||||||||
| Available for future advances | $ | 3,846,297 | $ | 2,596,771 | $ | 6,443,068 | |||||
| Standard & Poor’s | Moody’s | |||||||
Commerce Bancshares, Inc. | ||||||||
| Issuer rating | A- | |||||||
| Rating outlook | Stable | |||||||
Commerce Bank | ||||||||
| Issuer rating | A | A3 | ||||||
| Baseline credit assessment | a2 | |||||||
| Short-term rating | A-1 | P-1 | ||||||
| Rating outlook | Stable | Stable | ||||||
| (Dollars in thousands) | June 30, 2026 | December 31, 2025 | Minimum Capital Requirement | Capital Conservation Buffer | Minimum Ratios Requirement including Capital Conservation Buffer | Minimum Ratios for Well-Capitalized Banks * | ||||||||||||||
| Risk-adjusted assets | $ | 26,777,251 | $ | 23,970,761 | ||||||||||||||||
| Tier I common risk-based capital | 4,511,465 | 4,156,776 | ||||||||||||||||||
| Tier I risk-based capital | 4,511,465 | 4,156,776 | ||||||||||||||||||
| Total risk-based capital | 4,724,540 | 4,353,905 | ||||||||||||||||||
| Tier I common risk-based capital ratio | 16.85 | % | 17.34 | % | 4.50 | % | 2.50 | % | 7.00 | % | 6.50 | % | ||||||||
| Tier I risk-based capital ratio | 16.85 | 17.34 | 6.00 | 2.50 | 8.50 | 8.00 | ||||||||||||||
| Total risk-based capital ratio | 17.64 | 18.16 | 8.00 | 2.50 | 10.50 | 10.00 | ||||||||||||||
| Tier I leverage ratio | 12.81 | 12.65 | 4.00 | N/A | 4.00 | 5.00 | ||||||||||||||
(Dollars in thousands) | Retail Banking | Commercial | Wealth | Segment Totals | Other/ Elimination | Consolidated Totals | ||||||||||||||
| Six Months Ended June 30, 2026 | ||||||||||||||||||||
| Net interest income | $ | 246,777 | $ | 265,001 | $ | 96,396 | $ | 608,174 | $ | 6,751 | $ | 614,925 | ||||||||
| Provision for credit losses | (18,510) | (5,959) | 2 | (24,467) | 4,776 | (19,691) | ||||||||||||||
| Non-interest income | 49,747 | 142,386 | 161,824 | 353,957 | 5,722 | 359,679 | ||||||||||||||
| Investment securities gains (losses), net | — | — | — | — | 24,477 | 24,477 | ||||||||||||||
| Non-interest expense | (175,216) | (237,445) | (125,174) | (537,835) | (50,359) | (588,194) | ||||||||||||||
| Income before income taxes | $ | 102,798 | $ | 163,983 | $ | 133,048 | $ | 399,829 | $ | (8,633) | $ | 391,196 | ||||||||
| Six Months Ended June 30, 2025 | ||||||||||||||||||||
| Net interest income | $ | 252,352 | $ | 260,879 | $ | 45,195 | $ | 558,426 | $ | (9,177) | $ | 549,249 | ||||||||
| Provision for credit losses | (19,819) | (640) | (18) | (20,477) | 393 | (20,084) | ||||||||||||||
| Non-interest income | 47,690 | 144,980 | 127,886 | 320,556 | 4,006 | 324,562 | ||||||||||||||
| Investment securities gains (losses), net | — | — | — | — | (7,154) | (7,154) | ||||||||||||||
| Non-interest expense | (166,080) | (212,027) | (81,941) | (460,048) | (22,765) | (482,813) | ||||||||||||||
| Income before income taxes | $ | 114,143 | $ | 193,192 | $ | 91,122 | $ | 398,457 | $ | (34,697) | $ | 363,760 | ||||||||
| Increase (decrease) in income before income taxes: | ||||||||||||||||||||
| Amount | $ | (11,345) | $ | (29,209) | $ | 41,926 | $ | 1,372 | $ | 26,064 | $ | 27,436 | ||||||||
| Percent | (9.9) | % | (15.1) | % | 46.0 | % | .3 | % | (75.1) | % | 7.5 | % | ||||||||
Second Quarter 2026 | Second Quarter 2025 | ||||||||||||||||||||||
(Dollars in thousands) | Average Balance | Interest Income/Expense | Avg. Rates Earned/Paid | Average Balance | Interest Income/Expense | Avg. Rates Earned/Paid | |||||||||||||||||
| ASSETS: | |||||||||||||||||||||||
| Loans: | |||||||||||||||||||||||
Business(A) | $ | 6,864,328 | $ | 92,264 | 5.39 | % | $ | 6,247,252 | $ | 89,052 | 5.72 | % | |||||||||||
| Real estate — construction and land | 1,545,640 | 24,665 | 6.40 | 1,430,758 | 26,377 | 7.39 | |||||||||||||||||
| Real estate — business | 4,062,672 | 57,782 | 5.70 | 3,692,405 | 54,453 | 5.92 | |||||||||||||||||
| Real estate — personal | 4,386,681 | 52,343 | 4.79 | 3,048,895 | 32,697 | 4.30 | |||||||||||||||||
| Consumer | 2,472,965 | 37,758 | 6.12 | 2,148,666 | 34,442 | 6.43 | |||||||||||||||||
| Revolving home equity | 630,034 | 11,424 | 7.27 | 362,312 | 6,691 | 7.41 | |||||||||||||||||
| Consumer credit card | 544,688 | 17,081 | 12.58 | 559,858 | 18,402 | 13.18 | |||||||||||||||||
| Overdrafts | 7,291 | — | — | 5,663 | — | — | |||||||||||||||||
| Total loans | 20,514,299 | 293,317 | 5.73 | 17,495,809 | 262,114 | 6.01 | |||||||||||||||||
| Loans held for sale | 1,462 | 23 | 6.31 | 1,741 | 40 | 9.22 | |||||||||||||||||
| Investment securities: | |||||||||||||||||||||||
| U.S. government and federal agency obligations | 3,365,011 | 39,898 | 4.76 | 2,623,896 | 28,011 | 4.28 | |||||||||||||||||
| Government-sponsored enterprise obligations | 54,593 | 324 | 2.38 | 55,038 | 326 | 2.38 | |||||||||||||||||
State and municipal obligations(A) | 695,988 | 3,598 | 2.07 | 780,063 | 3,978 | 2.05 | |||||||||||||||||
| Mortgage-backed securities | 4,015,292 | 21,046 | 2.10 | 4,641,295 | 24,097 | 2.08 | |||||||||||||||||
| Asset-backed securities | 1,056,932 | 9,946 | 3.77 | 1,585,364 | 14,736 | 3.73 | |||||||||||||||||
| Other debt securities | 171,284 | 1,351 | 3.16 | 237,385 | 1,741 | 2.94 | |||||||||||||||||
Trading debt securities(A) | 53,144 | 579 | 4.37 | 51,131 | 590 | 4.63 | |||||||||||||||||
Equity securities(A) | 92,386 | 754 | 3.27 | 54,472 | 850 | 6.26 | |||||||||||||||||
Other securities(A) | 247,335 | 5,723 | 9.28 | 216,560 | 6,280 | 11.63 | |||||||||||||||||
| Total investment securities | 9,751,965 | 83,219 | 3.42 | 10,245,204 | 80,609 | 3.16 | |||||||||||||||||
| Federal funds sold | 733 | 6 | 3.28 | 158 | 2 | 5.08 | |||||||||||||||||
| Securities purchased under agreements to resell | 934,617 | 9,392 | 4.03 | 850,000 | 8,516 | 4.02 | |||||||||||||||||
| Interest earning deposits with banks | 2,575,956 | 23,764 | 3.70 | 2,036,803 | 22,636 | 4.46 | |||||||||||||||||
| Total interest earning assets | 33,779,032 | 409,721 | 4.87 | 30,629,715 | 373,917 | 4.90 | |||||||||||||||||
| Allowance for credit losses on loans | (198,032) | (166,391) | |||||||||||||||||||||
| Unrealized gain (loss) on debt securities | (693,080) | (838,028) | |||||||||||||||||||||
| Cash and due from banks | 402,618 | 362,816 | |||||||||||||||||||||
| Premises and equipment, net | 544,512 | 500,532 | |||||||||||||||||||||
| Other assets | 1,039,756 | 808,415 | |||||||||||||||||||||
| Total assets | $ | 34,874,806 | $ | 31,297,059 | |||||||||||||||||||
| LIABILITIES AND EQUITY: | |||||||||||||||||||||||
| Interest bearing deposits: | |||||||||||||||||||||||
| Savings | $ | 1,330,292 | 193 | .06 | $ | 1,303,391 | 168 | .05 | |||||||||||||||
| Interest checking and money market | 15,770,092 | 57,003 | 1.45 | 13,901,634 | 51,667 | 1.49 | |||||||||||||||||
| Certificates of deposit of less than $100,000 | 1,026,185 | 7,865 | 3.07 | 984,845 | 8,445 | 3.44 | |||||||||||||||||
| Certificates of deposit of $100,000 and over | 1,399,523 | 11,402 | 3.27 | 1,371,428 | 12,914 | 3.78 | |||||||||||||||||
| Total interest bearing deposits | 19,526,092 | 76,463 | 1.57 | 17,561,298 | 73,194 | 1.67 | |||||||||||||||||
| Borrowings: | |||||||||||||||||||||||
| Federal funds purchased | $ | 250,160 | $ | 2,290 | 3.67 | 129,891 | $ | 1,416 | 4.37 | ||||||||||||||
| Securities sold under agreements to repurchase | 2,299,180 | 13,490 | 2.35 | 2,371,031 | 16,853 | 2.85 | |||||||||||||||||
| Other borrowings | 1,362 | 3 | .88 | 2,748 | 26 | 3.79 | |||||||||||||||||
| Total borrowings | 2,550,702 | 15,783 | 2.48 | 2,503,670 | 18,295 | 2.93 | |||||||||||||||||
| Total interest bearing liabilities | 22,076,794 | 92,246 | 1.68 | % | 20,064,968 | 91,489 | 1.83 | % | |||||||||||||||
| Non-interest bearing deposits | 8,034,747 | 7,356,882 | |||||||||||||||||||||
| Other liabilities | 403,831 | 360,204 | |||||||||||||||||||||
| Equity | 4,359,434 | 3,515,005 | |||||||||||||||||||||
| Total liabilities and equity | $ | 34,874,806 | $ | 31,297,059 | |||||||||||||||||||
| Net interest margin (FTE) | $ | 317,475 | $ | 282,428 | |||||||||||||||||||
| Net yield on interest earning assets | 3.77 | % | 3.70 | % | |||||||||||||||||||
Six Months 2026 | Six Months 2025 | ||||||||||||||||||||||
(Dollars in thousands) | Average Balance | Interest Income/Expense | Avg. Rates Earned/Paid | Average Balance | Interest Income/Expense | Avg. Rates Earned/Paid | |||||||||||||||||
| ASSETS: | |||||||||||||||||||||||
| Loans: | |||||||||||||||||||||||
Business(A) | $ | 6,776,219 | $ | 181,389 | 5.40 | % | $ | 6,177,108 | $ | 175,616 | 5.73 | % | |||||||||||
| Real estate — construction and land | 1,568,855 | 50,553 | 6.50 | 1,423,096 | 51,863 | 7.35 | |||||||||||||||||
| Real estate — business | 4,054,218 | 115,153 | 5.73 | 3,680,187 | 107,656 | 5.90 | |||||||||||||||||
| Real estate — personal | 4,401,822 | 104,882 | 4.80 | 3,047,394 | 64,842 | 4.29 | |||||||||||||||||
| Consumer | 2,447,395 | 74,805 | 6.16 | 2,115,696 | 67,908 | 6.47 | |||||||||||||||||
| Revolving home equity | 620,620 | 22,405 | 7.28 | 360,508 | 13,116 | 7.34 | |||||||||||||||||
| Consumer credit card | 550,162 | 34,394 | 12.61 | 560,194 | 37,049 | 13.34 | |||||||||||||||||
| Overdrafts | 7,218 | — | — | 5,761 | — | — | |||||||||||||||||
| Total loans | 20,426,509 | 583,581 | 5.76 | 17,369,944 | 518,050 | 6.01 | |||||||||||||||||
| Loans held for sale | 1,909 | 52 | 5.49 | 1,663 | 63 | 7.64 | |||||||||||||||||
| Investment securities: | |||||||||||||||||||||||
| U.S. government and federal agency obligations | 3,278,385 | 68,252 | 4.20 | 2,605,522 | 54,074 | 4.19 | |||||||||||||||||
| Government-sponsored enterprise obligations | 54,696 | 648 | 2.39 | 55,183 | 654 | 2.39 | |||||||||||||||||
State and municipal obligations(A) | 702,623 | 7,273 | 2.09 | 792,146 | 8,050 | 2.05 | |||||||||||||||||
| Mortgage-backed securities | 4,112,639 | 43,056 | 2.11 | 4,714,293 | 48,712 | 2.08 | |||||||||||||||||
| Asset-backed securities | 1,128,661 | 21,203 | 3.79 | 1,620,338 | 28,851 | 3.59 | |||||||||||||||||
| Other debt securities | 173,965 | 2,730 | 3.16 | 247,703 | 3,456 | 2.81 | |||||||||||||||||
Trading debt securities(A) | 75,349 | 1,337 | 3.58 | 44,750 | 1,059 | 4.77 | |||||||||||||||||
Equity securities(A) | 71,498 | 1,560 | 4.40 | 55,743 | 1,978 | 7.16 | |||||||||||||||||
Other securities(A) | 248,979 | 9,931 | 8.04 | 224,964 | 10,799 | 9.68 | |||||||||||||||||
| Total investment securities | 9,846,795 | 155,990 | 3.19 | 10,360,642 | 157,633 | 3.07 | |||||||||||||||||
| Federal funds sold | 797 | 13 | 3.29 | 1,118 | 31 | 5.59 | |||||||||||||||||
| Securities purchased under agreements to resell | 892,542 | 17,847 | 4.03 | 819,613 | 15,934 | 3.92 | |||||||||||||||||
| Interest earning deposits with banks | 2,785,484 | 51,109 | 3.70 | 2,211,682 | 48,885 | 4.46 | |||||||||||||||||
| Total interest earning assets | 33,954,036 | 808,592 | 4.80 | 30,764,662 | 740,596 | 4.85 | |||||||||||||||||
| Allowance for credit losses on loans | (199,890) | (164,300) | |||||||||||||||||||||
| Unrealized gain (loss) on debt securities | (662,101) | (886,273) | |||||||||||||||||||||
| Cash and due from banks | 417,251 | 377,047 | |||||||||||||||||||||
| Premises and equipment, net | 544,984 | 498,804 | |||||||||||||||||||||
| Other assets | 1,068,235 | 809,106 | |||||||||||||||||||||
| Total assets | $ | 35,122,515 | $ | 31,399,046 | |||||||||||||||||||
| LIABILITIES AND EQUITY: | |||||||||||||||||||||||
| Interest bearing deposits: | |||||||||||||||||||||||
| Savings | $ | 1,316,109 | 407 | .06 | $ | 1,298,808 | 335 | .05 | |||||||||||||||
| Interest checking and money market | 15,894,019 | 115,346 | 1.46 | 13,904,216 | 103,903 | 1.51 | |||||||||||||||||
| Certificates of deposit of less than $100,000 | 1,030,633 | 15,948 | 3.12 | 988,316 | 17,377 | 3.55 | |||||||||||||||||
| Certificates of deposit of $100,000 and over | 1,432,164 | 23,500 | 3.31 | 1,367,563 | 26,233 | 3.87 | |||||||||||||||||
| Total interest bearing deposits | 19,672,925 | 155,201 | 1.59 | 17,558,903 | 147,848 | 1.70 | |||||||||||||||||
| Borrowings: | |||||||||||||||||||||||
| Federal funds purchased | $ | 196,323 | $ | 3,570 | 3.67 | $ | 129,120 | 2,800 | 4.37 | ||||||||||||||
| Securities sold under agreements to repurchase | 2,485,795 | 29,270 | 2.37 | 2,546,156 | 36,077 | 2.86 | |||||||||||||||||
| Other borrowings | 45,832 | 872 | 3.84 | 1,688 | 27 | 3.23 | |||||||||||||||||
| Total borrowings | 2,727,950 | 33,712 | 2.49 | 2,676,964 | 38,904 | 2.93 | |||||||||||||||||
| Total interest bearing liabilities | 22,400,875 | 188,913 | 1.70 | % | 20,235,867 | 186,752 | 1.86 | % | |||||||||||||||
| Non-interest bearing deposits | 7,955,060 | 7,327,945 | |||||||||||||||||||||
| Other liabilities | 413,859 | 390,618 | |||||||||||||||||||||
| Equity | 4,352,721 | 3,444,616 | |||||||||||||||||||||
| Total liabilities and equity | $ | 35,122,515 | $ | 31,399,046 | |||||||||||||||||||
| Net interest margin (FTE) | $ | 619,679 | $ | 553,844 | |||||||||||||||||||
| Net yield on interest earning assets | 3.68 | % | 3.63 | % | |||||||||||||||||||
| June 30, 2026 | March 31, 2026 | ||||||||||||||||||||||
(Dollars in millions) | $ Change in Net Interest Income | % Change in Net Interest Income | $ Change in Net Interest Income | % Change in Net Interest Income | |||||||||||||||||||
| 300 basis points rising | $ | 29.6 | 2.43 | % | $ | 46.5 | 3.80 | % | |||||||||||||||
| 200 basis points rising | 16.6 | 1.36 | 32.2 | 2.63 | |||||||||||||||||||
| 100 basis points rising | 5.3 | .43 | 17.4 | 1.42 | |||||||||||||||||||
| 100 basis points falling | $ | (15.7) | (1.29) | % | $ | (20.1) | (1.64) | % | |||||||||||||||
| 200 basis points falling | (15.3) | (1.25) | (30.0) | (2.45) | |||||||||||||||||||
| 300 basis points falling | (15.0) | (1.23) | (38.6) | (3.16) | |||||||||||||||||||
Period | Total Number of Shares Purchased (1) | Average Price Paid per Share (2) | Total Number of Shares Purchased as Part of Publicly Announced Program | Maximum Number that May Yet Be Purchased Under the Program | ||||||||||
| April 1 - 30, 2026 | 50,370 | $51.71 | 49,805 | 7,450,195 | ||||||||||
| May 1 - 31, 2026 | 895,323 | 52.09 | 894,433 | 6,555,762 | ||||||||||
| June 1 - 30, 2026 | 1,131,868 | 53.84 | 1,129,934 | 5,425,828 | ||||||||||
| Total | 2,077,561 | $53.03 | 2,074,172 | 5,425,828 | ||||||||||
COMMERCE BANCSHARES, INC. | |||||||||||
| By | /s/ MARGARET M. ROWE | ||||||||||
| Margaret M. Rowe | |||||||||||
Date: August 5, 2026 | Senior Vice President & Secretary | ||||||||||
| By | /s/ STEVEN A. BRANDJORD | ||||||||||
| Steven A. Brandjord | |||||||||||
| Controller | |||||||||||
Date: August 5, 2026 | (Chief Accounting Officer) | ||||||||||
| /s/ JOHN W. KEMPER | |||||
John W. Kemper President and Chief Executive Officer | |||||
| August 5, 2026 | |||||
| /s/ CHARLES G. KIM | |||||
Charles G. Kim Executive Vice President and Chief Financial Officer | |||||
| August 5, 2026 | |||||
| /s/ JOHN W. KEMPER | |||||
John W. Kemper Chief Executive Officer | |||||
| /s/ CHARLES G. KIM | |||||
Charles G. Kim Chief Financial Officer | |||||
| August 5, 2026 | |||||