Commerce Bancshares earnings up 1.1 percent in second quarter

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.

This story was originally published July 15, 2014 at 8:05 AM with the headline "Commerce Bancshares earnings up 1.1 percent in second quarter."