Commerce: 2Q Earnings Snapshot
KANSAS CITY, Mo. (AP) _ Commerce Bancshares Inc. (CBSH) on Thursday reported second-quarter net income of $110.3 million.
The Kansas City, Missouri-based bank said it had earnings of $1.01 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.
The bank holding company posted revenue of $350.5 million in the period. Its revenue net of interest income was $335.8 million, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $319.3 million.
Commerce shares have risen 19 percent since the beginning of the year. The stock has increased 24 percent in the last 12 months.