Updated with comments from an interview with Commerce CFO Charles Kim.
- Third-quarter profit of 76 cents a share misses analysts' consensus estimate of 77 cents.
- Net interest margin declines.
- Fee revenue increases but is expected to decline sharply in Q4 from Durbin Amendment.
KANSAS CITY, Mo. (TheStreet) -- Commerce Bancshares (CBSH) on Thursday reported third-quarter net income of $65.4 million, or 76 cents a share, missing the consensus estimate of 77 cents, among analysts polled by FactSet.
The results compared to a profit of $69 million, or 79 cents a share, the previous quarter and $55.9 million, or 64 cents a share a year earlier.
Commerce's shares were down 7% in morning trading, to $35.94.
|Commerce Bancshares CEO David W. Kemper|
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