UPDATE: Commerce Bancshares Q2 Profit Drops 7%

Commerce Bancshares

reported a 7% drop in its second-quarter earnings. Commerce Bancshares' quarterly profit fell to $65.8 million, or $0.72 per share, from $70.7 million, or $0.76 per share, in the year-ago period. Its revenue declined 1.4% to $262.1 million. However, analysts were projecting earnings of $0.71 per share on revenue of $262.4 million. Commerce Bancshares shares closed at $45.90 yesterday.