Net-interest income during the quarter jumped 11.6% during the quarter. Meanwhile, buoyed by higher bank card, brokerage, swap, and tax credit fees, non-interest income increased 11.7%.
CBSH shares closed 2.26% higher on Wednesday. The stock has gained 7.8% during the trailing 52 weeks.
CEO John Kemper said, “Demand for business and business real estate loans improved this quarter and as a result, we experienced growth in new loans and increased line utilization, while seasonal paydowns on some lines of credit partially offset this growth.”
Goldman Sachs jump 3% after beating street projections in Q4
Net loan charge-offs at the end of the year totaled $12.1 million, compared to $11.0 million in the same quarter last year.
Net loans slightly improved to $13.9 billion, even as total deposits modestly declined to $20.3 billion.
On Wednesday, rival firm US Bancorp (USB) reported a 10% growth in earnings for the fourth quarter of 2018 helped by higher revenue and a decline in non-interest expense. The results exceeded analysts’ expectations.