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Side-by-side financial comparison of COMMERCE BANCSHARES INC (CBSH) and FIRST INTERSTATE BANCSYSTEM INC (FIBK). Click either name above to swap in a different company.
COMMERCE BANCSHARES INC is the larger business by last-quarter revenue ($475.7M vs $313.0M, roughly 1.5× FIRST INTERSTATE BANCSYSTEM INC). FIRST INTERSTATE BANCSYSTEM INC runs the higher net margin — 34.8% vs 29.8%, a 5.0% gap on every dollar of revenue. On growth, FIRST INTERSTATE BANCSYSTEM INC posted the faster year-over-year revenue change (19.8% vs 11.1%). Over the past eight quarters, FIRST INTERSTATE BANCSYSTEM INC's revenue compounded faster (13.7% CAGR vs 7.1%).
Commerce Bancshares, Inc. is a regional bank holding company headquartered in Missouri, with principal offices in Kansas City and St. Louis. It is the corporate parent of Commerce Bank, which offers a diversified line of financial services, including business and personal banking, wealth management and investments through its affiliated companies.
First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout 14 states within the Western and Midwestern United States. It is the largest bank based in Montana, as measured by total assets.
CBSH vs FIBK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $475.7M | $313.0M |
| Net Profit | $141.6M | $108.8M |
| Gross Margin | — | — |
| Operating Margin | — | 44.5% |
| Net Margin | 29.8% | 34.8% |
| Revenue YoY | 11.1% | 19.8% |
| Net Profit YoY | 0.7% | 108.8% |
| EPS (diluted) | $0.96 | $1.07 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $475.7M | — | ||
| Q4 25 | $449.4M | $313.0M | ||
| Q3 25 | $441.0M | $250.5M | ||
| Q2 25 | $445.8M | $248.3M | ||
| Q1 25 | $428.1M | $247.0M | ||
| Q4 24 | $422.1M | $261.3M | ||
| Q3 24 | $421.4M | $251.9M | ||
| Q2 24 | $414.5M | $244.3M |
| Q1 26 | $141.6M | — | ||
| Q4 25 | $140.7M | $108.8M | ||
| Q3 25 | $141.5M | $71.4M | ||
| Q2 25 | $152.5M | $71.7M | ||
| Q1 25 | $131.6M | $50.2M | ||
| Q4 24 | $136.1M | $52.1M | ||
| Q3 24 | $138.0M | $55.5M | ||
| Q2 24 | $139.6M | $60.0M |
| Q1 26 | — | — | ||
| Q4 25 | 40.8% | 44.5% | ||
| Q3 25 | 41.9% | 37.0% | ||
| Q2 25 | 44.0% | 37.7% | ||
| Q1 25 | 39.2% | 26.9% | ||
| Q4 24 | 41.2% | 25.5% | ||
| Q3 24 | 42.4% | 28.9% | ||
| Q2 24 | 43.4% | 32.1% |
| Q1 26 | 29.8% | — | ||
| Q4 25 | 31.3% | 34.8% | ||
| Q3 25 | 32.1% | 28.5% | ||
| Q2 25 | 34.2% | 28.9% | ||
| Q1 25 | 30.7% | 20.3% | ||
| Q4 24 | 32.2% | 19.9% | ||
| Q3 24 | 32.8% | 22.0% | ||
| Q2 24 | 33.7% | 24.6% |
| Q1 26 | $0.96 | — | ||
| Q4 25 | $0.86 | $1.07 | ||
| Q3 25 | $1.06 | $0.69 | ||
| Q2 25 | $1.14 | $0.69 | ||
| Q1 25 | $0.98 | $0.49 | ||
| Q4 24 | $0.83 | $0.50 | ||
| Q3 24 | $1.01 | $0.54 | ||
| Q2 24 | $1.03 | $0.58 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | $146.3M |
| Stockholders' EquityBook value | $4.3B | $3.4B |
| Total Assets | $35.7B | $26.6B |
| Debt / EquityLower = less leverage | — | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $146.3M | ||
| Q3 25 | — | $146.2M | ||
| Q2 25 | — | $252.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $132.2M | ||
| Q3 24 | — | $137.3M | ||
| Q2 24 | — | $383.4M |
| Q1 26 | $4.3B | — | ||
| Q4 25 | $3.8B | $3.4B | ||
| Q3 25 | $3.8B | $3.4B | ||
| Q2 25 | $3.6B | $3.4B | ||
| Q1 25 | $3.5B | $3.4B | ||
| Q4 24 | $3.3B | $3.3B | ||
| Q3 24 | $3.4B | $3.4B | ||
| Q2 24 | $3.1B | $3.2B |
| Q1 26 | $35.7B | — | ||
| Q4 25 | $32.9B | $26.6B | ||
| Q3 25 | $32.3B | $27.3B | ||
| Q2 25 | $32.3B | $27.6B | ||
| Q1 25 | $32.4B | $28.3B | ||
| Q4 24 | $32.0B | $29.1B | ||
| Q3 24 | $31.5B | $29.6B | ||
| Q2 24 | $30.6B | $30.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.04× | ||
| Q3 25 | — | 0.04× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.12× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $305.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 2.81× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $645.1M | $305.6M | ||
| Q3 25 | $129.0M | $91.7M | ||
| Q2 25 | $111.2M | $68.1M | ||
| Q1 25 | $138.6M | $78.5M | ||
| Q4 24 | $577.9M | $355.0M | ||
| Q3 24 | $431.7M | $89.9M | ||
| Q2 24 | $147.4M | $82.3M |
| Q1 26 | — | — | ||
| Q4 25 | $592.4M | — | ||
| Q3 25 | $113.3M | — | ||
| Q2 25 | $100.5M | — | ||
| Q1 25 | $126.0M | — | ||
| Q4 24 | $531.7M | — | ||
| Q3 24 | $419.1M | — | ||
| Q2 24 | $138.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | 131.8% | — | ||
| Q3 25 | 25.7% | — | ||
| Q2 25 | 22.5% | — | ||
| Q1 25 | 29.4% | — | ||
| Q4 24 | 126.0% | — | ||
| Q3 24 | 99.5% | — | ||
| Q2 24 | 33.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 11.7% | — | ||
| Q3 25 | 3.6% | — | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 10.9% | — | ||
| Q3 24 | 3.0% | — | ||
| Q2 24 | 2.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.59× | 2.81× | ||
| Q3 25 | 0.91× | 1.28× | ||
| Q2 25 | 0.73× | 0.95× | ||
| Q1 25 | 1.05× | 1.56× | ||
| Q4 24 | 4.25× | 6.81× | ||
| Q3 24 | 3.13× | 1.62× | ||
| Q2 24 | 1.06× | 1.37× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
