{"id":34066,"date":"2014-10-15T10:55:40","date_gmt":"2014-10-15T14:55:40","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=34066"},"modified":"2014-10-15T10:55:40","modified_gmt":"2014-10-15T14:55:40","slug":"commerce-bancshares-inc-nasdaqcbsh-announced-q3-profits","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/commerce-bancshares-inc-nasdaqcbsh-announced-q3-profits-34066","title":{"rendered":"Commerce Bancshares, Inc. (NASDAQ:CBSH) Announced Q3 Profits"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 10\/15\/2014 (wallstreetpr) \u2013 <strong>Commerce Bancshares, Inc. (NASDAQ:CBSH)<\/strong>, which is a parent company of <a href=\"http:\/\/seekingalpha.com\/pr\/11319355-commerce-bancshares-inc-announces-third-quarter-earnings-per-common-share-of-72\" target=\"_blank\">Commerce Bank<\/a> has been able to generate net income of nearly $68.2 million in the third quarter. This compares to the net income of $68.2 million reported in the previous year&#8217;s quarter. The said net income translates into $0.72 earnings per share, versus $0.71 per share a year earlier.<\/p>\n<p style=\"text-align: justify;\"><strong>Bank Records Profits<\/strong><\/p>\n<p style=\"text-align: justify;\">The main factors that drove profits for Commerce Bancshares, Inc.(NASDAQ:CBSH) are increase on non-interest income of $3.5 million, controlled non-interest expenses. Moreover, the gains booked by the company in private equity investments also shore up the profits. The company&#8217;s CEO and Chairman, David Kemper, said that the average loans grew at an annual rate of 4% for the reported quarter. The growth was mainly on account of improved consumer loans. At the same time, the trust as well as bankcard fees resulted in a total fee income growth of $112.3 million. It is to be noted that the fee income contributed 42% to the total revenues.<\/p>\n<p style=\"text-align: justify;\">There was a decline of $5.8 million in the net interest income of Commerce Bancshares, Inc. (NASDAQ:CBSH). This is because of drop in interest of the company&#8217;s inflation protected securities. The credit quality was impressive in the quarter as net-loan charge off accounted merely 0.27% of average loans. The loan loss provision of $7.7 million matched the charge offs during the quarter.<\/p>\n<p style=\"text-align: justify;\"><strong>Snapshot Of Finances<\/strong><\/p>\n<p style=\"text-align: justify;\">The bank&#8217;s total assets that stood as at the end of the quarter are $22.7 billion. Total loans and deposits amounted $11.4 billion and $18.6 billion respectively. In the third quarter, Commerce Bancshares, Inc. (NASDAQ:CBSH) recorded three sale transactions of its branches in Missouri. The total loans of these branches were $13 million, while the total deposits totalled $60 million. It announced a cash dividend of $0.225 per common share, which resembles 5% increase over its 2013 dividend payout.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 10\/15\/2014 (wallstreetpr) \u2013 Commerce Bancshares, Inc. (NASDAQ:CBSH), which is a parent company of Commerce Bank has been able to generate net income of [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":34070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[10964,10963,10965],"stock_ticker":[],"class_list":["post-34066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-commerce-bancshares-inc-nasdaqcbsh","tag-david-kemper","tag-nasdaqcbsh","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commerce Bancshares, Inc. 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