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Commerce Tosses a Curve

Stock quotes in this article: CBH , FITB  

Updated from 10:47 a.m. EDT

The flattening yield curve is squashing profits at fast-growing Commerce Bancorp(CBH Quote).

The New Jersey-based lender warned Monday that the narrowing spread between short-and long-term interest rates will reduce its profits in both the third and fourth quarters.

Commerce now says third-quarter profits will come in 2 cents short of the Thomson Financial consensus estimate of 47 cents a share, and 4 cents shy of the fourth-quarter estimate of 49 cents. The bank expects to earn 45 cents a share in both quarters. ...

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