Commerce Bancshares Q2 Profit Down, Yet Tops View - Quick Facts

(RTTNews) - Commerce Bancshares Inc. (CBSH) reported Wednesday that its second-quarter net income attributable to common shareholders amounted to $67.64 million, compared to $72.10 million in the same quarter last year. Earnings were $0.70 per share, compared to $0.72 per share last year.

On average, 10 analysts polled by Thomson Reuters expected earnings of $0.68 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased to $288.40 million from last year's $277.89 million. Analysts were looking for revenues of $293.38 million.

Net interest income grew to $171.83 million from last year's $163.66 million. Tax equivalent net interest income was $179.59 million, compared to $171.04 million in the prior year.

Non-interest income increased to $116.57 million from $114.24 million a year ago.

Provision for loan losses grew to $9.22 million from $6.76 million in the prior year.