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Commerce Bancshares in Kansas City, Mo., has established relationships with several new organizations, including environmental groups and universities, to offer co-branded credit cards.
June 5 -
The company will consider annual elections for all directors after investors passed a non-binding resolution urging for a change.
April 23 -
Commerce Bancshares in Kansas City, Mo., said Monday that first-quarter profits fell 5% from a year earlier, to $61.1 million, as net interest income fell and expenses rose.
April 13
Commerce Bancshares in Kansas City, Mo., reported higher second-quarter profit, citing the appreciation of inflation-protected securities and higher loan interest.
The $23.7 billion-asset company's profit
Net interest income rose 2% to $163.7 million, primarily due to a $12.1 million increase in the value of U.S. Treasury inflation-protected securities.
Noninterest income rose 4.9% to $114.1 million on higher fees from trust services, bank cards, brokerage services, interest-rate swaps and mortgage banking.
Noninterest expense rose 1.7% to $165.3 million on higher salaries and employee benefits and costs for data processing and software. Commerce's efficiency ratio improved 80 basis points to 59.36%.