Commerce Bancshares, Inc. CBSH announced earnings of $.70 per share for the quarter ended December 31, 2010 compared to $.57 in the fourth quarter of 2009 and $.64 per share in the previous quarter.
Net income for the fourth quarter amounted to $61.9 million compared to $49.6 million in the same period last year and $55.9 million in the previous quarter. The return on average assets for the three months ended December 31, 2010 was 1.34%, and the return on average equity was 12.0%.
For the year ended December 31, 2010, earnings per share totaled $2.52, an increase of 27.9% compared to $1.97 in 2009. Net income amounted to $221.7 million in 2010 compared to $169.1 million in 2009, or an increase of 31.1%.
The return on average assets was 1.22% in 2010 and the return on average equity was 11.1%. At December 31, 2010 the ratio of tangible common equity to total assets improved to 10.3% compared to 9.7% at year end 2009.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in