YOUR BUSINESS AUTHORITY

Springfield, MO

Commerce Bank’s earnings grow 13%

Posted online

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.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick

Crossroads in Republic ripe for industrial park

Two buildings in a budding Republic industrial park just might be the welcome mat officials need.

Most Read
SBJ Live logo
MOST-WATCHED VIDEOS
Training Bootcamp: Training Needs Assessment

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

Don’t Micro-Manage Are you guilty of micromanaging your employees? “If we’re going to require them to be that educated when they come to work for us, should we not let them do their job? They should know so much …
Seek Wisdom from Many “My whole life goal is to change the world, one connection at a time,” says Keisha Mabry. Mabry, who is an author, speaker, and social entrepreneur, says she had a “quarter-life crisis” and …
DNA Uncovers Best Version of You A simple swab of the inside of your cheek can lead to optimizing your nutrition and fitness program, personal medication profile, in addition to your ancestry. According to Austin O’Reilly, owner …
Booked - Go Back to the Basics “You’ve gotta go back to the basics,” says Larry Peterson, Executive Director, Habitat for Humanity of Springfield Missouri. Peterson says he gains leadership advice from General Ulysses S. …