YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH) yesterday reported $105.7 million in second-quarter net income available to common shareholders.
That’s down 2.2% from $108.1 million a year earlier. Diluted share earnings, however, were flat at 96 cents, according to a news release.
“We are pleased to report strong earnings this quarter, driven by the performance of our diversified, fee-based businesses, focus on credit quality and prudent expense management,” said John Kemper, CEO of the Commerce Bank holding company, in the release.
Second-quarter financial notes:
• Revenue rose by nearly 1% to $338.9 million.
• Noninterest expenses climbed 4.4% to $189.8 million.
• Salaries and employee benefits increased by nearly 4% to roughly $120 million.
As of June 30, Commerce held $25.8 billion in assets, $19.8 billion in deposits and $14.3 billion in loans. According to the release, the company operates in “nine key markets,” including Springfield, where it has six branches.
CBSH shares were trading at $58.06 as of 9:13 a.m., compared with a 52-week range of $53.40 to $69.10.
There is unlimited potential in downtown Springfield, and it’s all coming together right now. That’s the assessment of Rusty Worley, executive director of the Downtown Springfield Association, as he considers the many projects that are now coalescing around the city’s center.
