Commerce Bancshares Inc. of Kansas City, Mo., said its second-quarter earnings climbed 1.4% from a year earlier, to $56 million.
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Earnings per share increased 2.7%, to 77 cents.
The $17 billion-asset Commerce said interest income increased 8%, and noninterest income rose 9%, but those gains were offset by a loan-loss provision that nearly doubled from a year earlier, to $18 million.
Net chargeoffs climbed 59%, to $14.5 million. Commerce attributed that increase to loan losses in its personal banking and consumer credit card lines. Shares of Commerce climbed 3% Tuesday, to $38.92.
