BusinessJuly 22, 1996
BUSINESS MEMO: MERCANTILE ANNOUNCES INCREASES IN EARNINGS
Mercantile Bancorporation Inc. has announced increases in second-quarter earnings. Net income the second quarter was reported at $65.1 million, up 12.4 percent from the $57.9 million earned during the same quarter last year. Per-share income during the second quarter rose 9.5 percent to $1.04, from 85 cents...
Mercantile Bancorporation Inc. has announced increases in second-quarter earnings.
Net income the second quarter was reported at $65.1 million, up 12.4 percent from the $57.9 million earned during the same quarter last year. Per-share income during the second quarter rose 9.5 percent to $1.04, from 85 cents.
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Mercantile's return on assets for the second quarter rose to 1.43 percent, up from 1.35 percent last year. Total assets June 30 were $18 billion, and deposits in the corporation's bank totaled $14.3 billion.
Mercantile Bancorporation, headquartered in St. Louis, owns 62 financial institutions in Missouri -- including Cape Girardeau -- Eastern Kansas, Southern Illinois, Northern Iowa and Arkansas. The company has mergers pending with Peoples State Bank, Today's Bancorp Inc. and First Financial Corporation of America.
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