In Brief: Commerce Bank Harrisburg Posts 20% Jump in Profits

HARRISBURG, Pa. - Commerce Bank Harrisburg, in the midst of a major expansion of branch offices, said its third-quarter earnings jumped 20% from the year-earlier level.

Gary L. Nalbandian, chairman, said earnings for the period totaled $413,000.

Nine-month net totaled $1,058,000 - the first time since Commerce opened in 1985 that earnings have topped the $1 million mark in three quarters, Mr. Nalbandian said.

Besides the sharp rise in earnings, Commerce also showed across-the- board increases in total assets, loans and deposits. Per-share net rose by almost 26%, from 35 cents to 44 cents a share.

Assets in the third quarter were $144.7 million, up from $129.8 million a year earlier.

Commerce has four branches, and four more are scheduled to open this year and next.

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