BUSINESS MEMO: COMMERCE EARNINGS

Commerce Bancshares Inc. has announced record earnings of $119.5 million for the 12 months ended Dec. 31, an increase of 11 percent from the $107.6 million in 1995.

Per-share earnings were $3.11 for 1996, compared to $2.71 for 1994. Return on assets for the year was 1.28 percent.

Net income for the three months ending Dec. 31 was $32.5 million, up 15 percent from the same period of 1995. Per-share earnings for the final quarter were 85 cents compared to 75 cents in 1995, an increase of 20 percent.

Commerce Bancshares is a registered bank-holding company operating at 250 sites in Illinois, Kansas and Missouri, including Cape Girardeau. Total assets Dec. 31 were $9.7 billion, total loans were $5.5 billion and total deposits were $8.2 billion.