Commerce Bancshares reports higher first-quarter profits

Commerce Bancshares on Wednesday reported higher first-quarter revenue and earnings, boosted partly by an increase in business, construction and commercial real estate loans.

The parent company of Commerce Bank said quarterly earnings were $65.4 million, up from $61.1 million in the first quarter of 2015. Revenue amounted to $282.8 million in the first three months of this year, compared with $252.7 million in the same quarter last year.

Commerce also said average total loans increased by $313.1 million in the quarter, compared with the final quarter last year.

Total assets as of March 31 were $24.5 billion.

The Star

This story was originally published April 13, 2016 at 6:22 PM with the headline "Commerce Bancshares reports higher first-quarter profits."