Commerce Bancshares Q3 Profit Rises on Net Interest Income Growth; CBSH Shares Slip

Commerce Bancshares Inc. (CBSH) reported higher third-quarter profit, driven primarily by growth in net interest income, the company said Tuesday. Net profit rose to $154.99 million, or $1.08 per share, from $141.52 million, or $1.01 per share, in the year-earlier quarter. Net interest income climbed to $308.98 million from $279.46 million. Total revenue, including net interest and non-interest income, reached $494.34 million, up from $440.97 million a year ago. The provision for credit losses fell to $10.03 million from $20.06 million. CBSH shares closed down 1.04% at $55.11 on the Nasdaq on Monday.