Commerce Bancshares announced Monday earnings of 67 cents per share for the three months ended March 31st, compared to 63 cents per share a year ago, or an increase of 6.3 ercent. Net income for the first quarter was $64.3 million, compared to 61 million a year ago or an increase of 5.4 percent. For the quarter, the return on average assets totaled 1.16 percent, the return on average equity was 11.6 percent and the efficiency ratio was 63.3 percent. Chairman and CEO David Kemper said loan demand remained strong during the first quarter with most of the growth in commercial and industrial and auto lending. The parent company has banks in Peoria and Bloomington.
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