Commerce Bancshares Inc. reported a 1.1 percent increase in second-quarter profits, thanks to higher interest income and increased fees.
The Kansas City-based banking company said Tuesday it earned $66.5 million, or 70 cents a share, compared with the $65.8 million, or 69 cents a share, it earned a year earlier.
“This quarter we saw good top-line revenue growth when compared to the previous quarter along with solid loan growth,” chief executive officer David Kemper said in the release.
Commerce had $23 billion in assets, including loans totaling $11.48 billion at the end of June, up $1.1 billion from a year earlier.
Profits as a return on the company’s assets equaled 1.18 percent compared with 1.20 percent a year earlier.
To reach Mark Davis, call 816-234-4372 or send email to email@example.com.