Commerce Bank parent records nearly 5% increase in profits

Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH) posted a 4.8% increase in second-quarter profits.

The company, which has four Commerce Bank branches in Springfield, reported net income attributable to Commerce Bancshares of $159.8 million, up from $152.5 million a year earlier. According to a news release, diluted share earnings rose a cent to $1.10.

“Commerce delivered a strong quarter, with expanding net interest margin, solid loan growth, lower funding costs and excellent credit quality," CEO John Kemper said in the release.

Total assets were $35.3 billion and deposits were $27.9 billion as of June 30.

CBSH shares were trading at $58.22 as of 10:15 a.m., compared with a 52-week range of $46.99 to $60.76 per share.