From the vault

Bank of America

Bank of America Corp. July 18 reported second-quarter net income of $4.3 billion, up 12 percent from the second quarter of 2004. Diluted earnings per share increased 14 percent to $1.06 from 93 cents per share in 2004. Also during the quarter, the bank reached an agreement to buy 9 percent of the stock of China Construction Bank for $3 billion and announced a definitive agreement to acquire MBNA Corp. for $35 billion; that acquisition is expected to close in the fourth quarter.

Other second-quarter highlights: retail deposits grew 11 percent from the second quarter of 2004 to more than $428 billion; assets topped $1.2 trillion; and deposits were $635 billion.

Shares of the Charlotte, N.C.-based bank closed July 20 at $44.86, up 1.7 percent from the first quarter.

Commerce Bank

Kansas City-based Commerce Bancshares Inc. reported July 13 record earnings of 80 cents per share for the three months ended June 30. That’s an increase of 5 percent compared to the second quarter of 2004 and almost 10 percent compared to the first quarter of this year.

Net income for the second quarter reached $54.4 million compared to $53.8 million in the same period last year.

Also in the report, the company stated that total assets as of June 30 were $14.1 billion, loans were $8.5 billion, and total deposits were $10.7 billion.

The company operates 330 banking locations in Missouri, Illinois and Kansas. Commerce Bank shares closed July 20 at $53.93, up 11.9 percent from the first quarter.

Great Southern Bank

Great Southern Bancorp Inc., the holding company for Great Southern Bank, reported July 19 a 5 percent increase in second-quarter net interest income from 2004 to $15.5 million. Earnings per diluted share were 50 cents for the quarter, up 4 percent from the 48 cents per share posted during the same period in 2004.

Bank assets were $2 billion while deposits topped $1.45 billion, according to the report.

Great Southern Bank, with headquarters in Springfield, operates 31 branches throughout southwest and central Missouri, as well as lending offices in Overland Park, Kan., Rogers, Ark., and St. Louis.

Shares of Great Southern Bancorp closed July 20 at $32.78, up 1 percent from the first quarter.

Guaranty Bank

Guaranty Federal Bancshares Inc., the holding company for Guaranty Bank, announced July 15 that earnings per diluted share for the quarter ended June 30 were 50 cents, up 43 percent from the 35 cents per share earned in the second quarter of 2004.

Net interest income totaled $3.54 million for the second quarter, up 30 percent from the same period in 2004. Bank assets were $464 million, while deposits reached $300 million.

Springfield-based Guaranty Bank operates seven bank branches and 20 automated teller machines in Greene and Christian counties. Guaranty Federal shares closed July 20 at $24.96, up 10.7 percent from the first quarter.

Regions Bank

Regions Financial Corp. July 15 reported earnings of 53 cents per diluted share, down 9 percent from second-quarter 2004. Net income was $248 million, up 53 percent from the same time last year.

Company assets as of June 30 were $85.28 billion, up 71 percent from the $49.76 billion at the same time in 2004. Most of the increase in total assets can be attributed to the merger in January 2004 with Union Planters Bank.

Regions Financial Corp., with headquarters in Birmingham, Ala., operates more than 1,400 offices in 15 states across the South and Midwest. Shares of Regions Financial closed July 20 at $34.67, up 7 percent from the first quarter.

U.S. Bank

U.S. Bancorp July 19 reported second-quarter net income of $1.12 billion, up 8.1 percent from the same time in 2004. Earnings per diluted share totaled 60 cents, up 11.1 percent from the second quarter last year.

Most of the net income increase was traced back to growth in fee-based products and services, reduced credit costs and lower tax expenses.

Company assets as of June 30 were $204 billion, up 7.2 percent from June 30, 2004.

Shares of U.S. Bancorp closed July 20 at $30.38, up 5.4 percent from the first quarter.

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