BUSINESS MEMO: COMMERCIAL BANK EARNINGS

Commerce Bancshares Inc. has announced record earnings of $150 million for 1998, an increase of 13 percent from the $133 million in 1997. Per-share earnings were $2.42 for 1998, compared to $2.13 for 1997. Return on assets for the year was 1.43 percent.

Net income for the three months ending Dec. 31 was $40 million, up 10 percent from the same period in 1997. Per-share earnings for the final quarter were 65 cents.

The company completed previously announced mergers with Fidelity State Bank, Garden City, Kan. (176 million assets); Columbus (Kan.) State Bank ($84 million); and Heritage Bank of Olathe, Kan. ($52 million).

Commerce Bancshares is a registered bank-holding company operating at 300 sites in Illinois, Kansas and Missouri, including Cape Girardeau. Total assets Dec. 31 were $11.4 billion, total loans were $7 billion and total deposits were $9.5 billion.