RTTNews | Oct 20, 2020 06:14AM EDT

06:14 Tuesday, October 20, 2020 (RTTNews.com) - Commerce Bancshares, Inc. (CBSH) reported Tuesday net income attributable to Commerce Bancshares for the third quarter of $132.4 million or $1.11 per share, higher than $109.2 million or $0.93 per share last year.

On average, 9 analysts polled by Thomson Reuters expected the company to report earnings of $0.70 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter improved year-over-year to $345.53 million from $336.26 million. Analysts expected revenue of $333.87 million for the quarter.

Provision for credit losses plunged to $3.10 million from last year's $10.96 million. Total assets at September 30, 2020 were $31.5 billion, total loans were $16.4 billion, and total deposits were $25.7 billion.

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