Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH) improved second-quarter net income available to common shareholders by 13 percent.
The holding company that operates seven Commerce Bank branches in Springfield reported earnings of $76.7 million, or 75 cents per diluted share, an increase from $67.6 million, or 66 cents per diluted share, a year earlier, according to a news release.
“We continued to see strong performance this quarter as top line revenue grew $10.6 million compared with the previous quarter while expenses declined and credit costs remained low,” Commerce Bank Chairman and CEO David Kemper said in the release.
Second-quarter financial notes:
•Revenue climbed 6 percent to $305.9 million.
•Provision for loan losses was up to $10.8 million from $9.2 million a year ago.
•Salaries and employee benefits increased 3.8 percent to $108.8 million.
As of June 30, Commerce held assets of $25.1 billion and deposits of $20.8 billion. The company operates 330 branches in Missouri, Illinois, Kansas, Oklahoma and Colorado, according to the release.
CBSH shares were trading at $57.15 as of 8:47 a.m., compared with a 52-week range of $44.27 to $60.61.
Search sponsored by:
Two buildings in a budding Republic industrial park just might be the welcome mat officials need.
All workplace problems have root causes. When will training be the solution? Sherry Coker, OTC Center for Workforce Development business development director, provides you the framework of a training needs assessment, which will uncover the root causes of a workplace problem and help you determine if training is the solution. A download is available at workforce.otc.edu/bootcamp with a complete outline for an effective training needs assessment. This is sponsored content. Duration: 2:29