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Commerce Bancshares, Inc. Message Board

  • hayseed_farmer hayseed_farmer Feb 9, 2002 2:29 PM Flag

    Perspective of a former employee

    As a former employee of the bank (10 years) I have seen a change in the culture of the bank from service to sales. Management is doing all it can to push earnings with the efficiency ratio as the driving force. With the goal to be below 60% it is now somewhere around 56%. I fear most of the gains were driven by cost cutting not by improvements in revenues stream while holding cost in check. The most troubling thing is that cost cutting can only go so far. As a bank the largest expenses are the cost of funds and Labor. Labor has already been slashed and the margin on deposits is pretty constant. Fee income can only go so far to pick up the revenue needed. Commerce has always been a conservative lender with small loan losses less exposure to a slow enocomy I think this is still a good stock to own. (I left on my own, no bad feelings, and I still own alot of stock)

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