Commerce Bancshares Inc. in Kansas City, Mo., said Thursday that its earnings fell 34% from a year earlier, to $37 million, partly because of rising loan trouble.
Still, the $17.7 billion-asset company said its earnings improved 20% from the first quarter, because of higher interest and fee income. Both had been helped by 5% growth in average deposits during the quarter, to $651 million.
Commerce's earnings of 48 cents a share beat the average of analysts' estimates by 11 cents, sending its stock up.
