BUSINESS MEMO: COMMERCE BANK EARNINGS

Commerce Bancshares Inc. announced record earnings of $30.9 million for the third quarter, ending Sept. 30, an increase of 12 percent from the $27.6 during the same period in 1995. Per-share earnings were 85 cents, up 18.1 percent from the 72 cents of last year. The return on assets for the quarter was 1.32 percent, and the return on equity was of 13.95 percent.

During the quarter, the bank incurred a one-time charge of $1,267,000 in connection with the recapitalization of the SAIF Fund, which reduced earnings per share by 2.2 cents.

For the nine months ended Sept. 30, earnings amounted to $87.1 million, up $7.7 million from the $79.4 million during the first nine months of 1995. Per share earnings for the nine-month period was $2.38, up from the $2.10 of last year.

Commerce Bancshares, with assets of $9.4 billion, is a registered bank holding company operating at 240 sites in Missouri, Illinois and Kansas.