Add as a preferred source on GoogleCommerce Bancshares Beats Third-Quarter Earnings Estimate by 1 Cent
Revenue rose 12.1% from a year earlier to $494.3 million but fell $1.93 million short of estimates.
Commerce Bancshares, Inc. delivered third-quarter GAAP earnings of $1.08 per share, beating estimates by 1 cent, while revenue grew from a year earlier but missed expectations.
Revenue reached $494.3 million, up 12.1% from the year-earlier quarter. The total was $1.93 million below estimates.
Net interest income fell $6.2 million from the second quarter to $308.9 million. The net yield on interest-earning assets declined six basis points to 3.71%.
Noninterest income moved in the other direction, rising $1.6 million, or 0.9%, from the second quarter to $185.5 million. It accounted for 37.5% of total revenue.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.