ST. LOUIS--(BUSINESS WIRE)--July 12, 2006--Commerce Bancshares, Inc. (Nasdaq: CBSH) announced earnings of $1.60 per share for the six months ended June 30, 2006, an increase of 10% compared to $1.46 per share during the same period in 2005. Net income for the first six months of 2006 amounted to $108.3 million compared with $104.2 million in the same period last year. The return on average assets for the first six months ended June 30, 2006, was 1.59%, and the return on average equity was 16.4%.
For the three months ended June 30, 2006, earnings per share totaled $.82, an increase of 6.5% compared with $.77 in the second quarter of 2005. Net income amounted to $55.3 million compared with $54.4 million in the same period last year and $52.9 million in the first quarter 2006. The return on average assets for the three months ended June 30, 2006, was 1.61% and the return on average equity was 16.6%.