Commerce Bank sees quarterly, first-half gains

The holding company of Commerce Bank said today its quarterly earnings moved higher in the three-month period ending June 30.

Kansas City, Mo.-based Commerce Bancshares said its earnings were 71 cents a share compared to 46 cents a share in the second quarter 2009.

Its earnings were also higher than first quarter 2010, which were 53 cents a share.

Net income was $59.7 million compared to $44.2 million in first quarter 2010 and $37 million in second quarter 2009.

Earnings and net income were also higher for the first half of 2010, compared to the same period a year ago.

"We are pleased to report strong second quarter earnings," said Commerce Bancshares CEO David Kemper, in a release.