YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH) reported a dip in profits during the third quarter.
The company, which operates four Commerce Bank branches in Springfield, posted net income of $120.6 million, a 1.8% decrease from $122.8 million a year earlier, according to a news release. Diluted share earnings slid to 96 cents from 97 cents per share in third-quarter 2022.
"Our strong quarterly performance in this high-rate environment demonstrates the resilience of our operating model and the adaptability of our bank," said John Kemper, president and CEO, in the release.
As of Sept. 30, Commerce Bank's assets were $31.4 billion and deposits were $25.1 billion.
CBSH shares were trading at $47.24 as of 11:08 a.m., compared with a 52-week range of $42.96 to $75.21 per share.
A safe room and classroom addition at Willard Central Elementary School will be used by the music, arts and athletic programs for a district that had 4,536 students last year, according to Missouri Department of Elementary and Secondary Education figures, but school officials say enrollment is projected to grow.
