The holding company of Commerce Bank said Tuesday it posted slightly higher earnings in the third quarter of 2012.
The Kansas City, Mo.-based company said earnings for the three months ended Sept. 30 were $66 million compared with $65.4 million in the third quarter of 2011.
Commerce Bancshares’ earnings per share were 75 cents compared with 72 cents in the same quarter a year ago.
“Although record low interest rates continued to pressure our net interest income, we were pleased to report solid quarterly earnings which benefited from loan growth, low credit losses and good expense management,” David Kemper, Commerce Bancshares CEO, said in a news release Tuesday.
The company’s total assets at the end of the third quarter were $20.9 billion. Total loans were $9.6 billion and total deposits were $16.8 billion, Commerce said in the release.