Business Services Industry
Kansas City, St. Louis-Based Banking Firm Feels Effect of Interest Rate Cuts.
Knight Ridder/Tribune Business News, April, 2001
By Mark Davis, The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Apr. 3--Falling interest rates probably squeezed first-quarter profit at Commerce Bancshares Inc., adding to a seasonal earnings slump, an industry analyst said Monday.
The Kansas City- and St. Louis-based banking company plans to announce its earnings April 12. It earned 63 cents a share in the first quarter last year.
Rosalind Looby, the banking industry analyst at Credit Suisse First Boston Corp., estimated Commerce's first-quarter earnings this year at 69 cents a share. While that would be an increase from a year ago, it would be below the bank's earnings of the last two quarters.
Looby said Monday that Commerce typically sees its profit drop from...
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