Commerce Bancshares, Inc. Reports First Nine Months Earnings Per Share Growth of 14%.
Business Wire › October 13, 2004
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Commerce Bancshares, Inc. Reports First Nine Months Earnings Per Share Growth of 14%.
KANSAS CITY, Mo. -- Commerce Bancshares, Inc. (NASDAQ:CBSH) announced record earnings of $2.47 per share for the nine months ended September 30, 2004, an increase of 14% compared to $2.17 per share during the same period in 2003. Net income for the first nine months of 2004 amounted to $167.7 million compared with $152.7 million in the same period last year, or an increase of 10%. During this period the return on average equity was 15.5%, the return on assets was 1.58%, and the efficiency ratio was 58.8%.
For the three months ended September 30, 2004, earnings per share totaled $.93, an increase of 18% compared with $.79 in 2003. Net income amounted to $62.5 million compared with $54.9 million for 2003, an increase of 14%. In making this announcement, David W. Kemper, Chairman and CEO, s...See the full content of this document
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