科默斯银行 2025年季度报告

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of RegulationS-T(§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit such files).YesþNoo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule12b-2 of the ExchangeAct. (Check one): PART I: FINANCIAL INFORMATION Commerce Bancshares, Inc. and SubsidiariesNOTES TO CONSOLIDATED FINANCIAL STATEMENTS March31, 2025(Unaudited) 1.Principles of Consolidation and Presentation The accompanying consolidated financial statements include the accounts of Commerce Bancshares, Inc. and all majority-ownedsubsidiaries (the Company). Most of the Company's operations are conducted by its subsidiary bank, Commerce Bank (the Bank). Theconsolidated financial statements in this report have not been audited by an independent registered public accounting firm, but in theopinion of management, all adjustments necessary to present fairly the financial position and the results of operations for the interimperiods have been made. All such adjustments are of a normal recurring nature. All significant intercompany accounts and transactionshave been eliminated. Certain reclassifications were made to 2024 data to conform to current year presentation. In preparing the The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the UnitedStates (GAAP) for interim financial information and with the instructions to Form 10-Q adopted by the Securities and ExchangeCommission. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete 2.Loans and Allowance for Credit Losses Major classifications within the Company’s held for investment loan portfolio at March31, 2025 and December31, 2024 are asfollows: Accrued interest receivable totaled $66.2million and $70.6million at March31, 2025 and December31, 2024, respectively, and wasincluded within other assets on the consolidated balance sheets. For the three months ended March 31, 2025, the Company wrote-offaccrued interest by reversing interest income of $112thousand and $1.7million in the Commercial and Personal Banking portfolios, At March31, 2025, loans of $3.3billion were pledged at the Federal Home Loan Bank as collateral for borrowings and letters ofcredit obtained to secure public deposits. Additional loans of $2.6billion were pledged at the Federal Reserve Bank as collateral for Allowance for credit losses The allowance for credit losses is measured using an average historical loss model which incorporates relevant information about pastevents (including historical credit loss experience on loans with similar risk characteristics), current conditions, and reasonable andsupportable forecasts that affect the collectability of the remaining cash flows over the contractual term of the loans. The allowance forcredit losses is measured on a collective (pool) basis. Loans are aggregated into pools based on similar risk characteristics including For loans evaluated for credit losses on a collective basis, average historical loss rates are calculated for each pool using theCompany’s historical net charge-offs (combined charge-offs and recoveries by observable historical reporting period) and outstandingloan balances during a lookback period. Lookback periods can be different based on the individual pool and represent management’scredit expectations for the pool of loans over the remaining contractual life. In certain loan pools, if the Company’s own historical lossrate is not reflective of the loss expectations, the historical loss rate is augmented by industry and peer data. The calculated average netcharge-off rate is then adjusted for current conditions and reasonable and supportable forecasts. These adjustments increase or decreasethe average historical loss rate to reflect expectations of future losses given a single path economic forecast of key macroeconomicvariables including GDP, disposable income, various interest rates, unemployment rate, consumer price index (CPI) inflation rate, housingprice index (HPI), commercial real estate price index (CREPI) and market volatility. The adjustments are based on results from variousregression models projecting the impact of the macroeconomic variables to loss rates. The forecast is used for a reasonable and Key assumptions in the Company’s allowance for credit loss model include the economic forecast, the reasonable and supportableperiod, forecasted macro-economic variables, prepayment assumptions and qualitative factors applied for portfolio co