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Commerce Bancshares in Kansas City, Mo., has struck a deal for Summit Bancshares of Tulsa that would nearly double its asset base in Oklahoma.
May 16 -
Commerce Bancshares (CBSH) in Kansas City, Mo., beat quarterly earnings estimates as its asset quality and fee income improved.
October 15 -
Commerce Bancshares in Kansas City, Mo., reported lower quarterly profit as interest income fell and credit costs spiked.
July 11
Commerce Bancshares (CBSH) in Kansas City, Mo., reported lower quarterly earnings because of lower income from lending.
The $23.1 billion-asset company's fourth-quarter earnings fell 1% from a year earlier, to $65.9 million. Earnings per share of 69 cents were 2 cents higher than the estimates of analysts polled by Bloomberg.
Net interest income fell 4% from a year earlier, to $154.9 million. Noninterest income rose 6% from the fourth quarter of 2012, to $109.5 million, because of higher corporate card and trust fees.
Noninterest expenses rose 2% from a year earlier, to $161.3 million, partially because of higher salaries and employee benefits and increased costs from data processing and software.
Commerce slashed its loan-loss provision by roughly a third from a year earlier, to $5.5 million. Net chargeoffs fell by 31% from the fourth quarter of 2012, to $7.5 million.
The company completed its
