BUSINESS MEMO: RECORD COMMERCE EARNINGS

Commerce Bancshares Inc. announced record earnings of $34.2 million for the third quarter, ending Sept. 30, an increase of 11 percent over the same period in 1995. Per-share earnings were 91 cents, up 12 percent from the 81 cents of last year. The return on assets for the quarter was 1.39 percent, and the return on equity was of 14.6 percent.

During the quarter, the company completed its previously announced merger with the Citizens National Bank of Independence, Kansas.

For the nine months ended Sept. 30, earnings amounted to $96 million, 10 percent from the first nine months of 1996. Per share earnings for the nine-month period was $2.55, up from the $2.26 of last year.

Commerce Bancshares is a registered bank holding company operating at 260 sites in Illinois, Kansas and Missouri, including Cape Girardeau, Mo.