BUSINESS MEMO: MERCANTILE BANCORPORATION ANNOUNCES RISE IN EARNINGS

Mercantile Bancorporation Inc. has announced increases in third-quarter earnings.

Net income was $56,697,000, up 17.7 percent from the $48.2 million earned during the same quarter last year. Per-share income during the second quarter rose 10.9 percent, to $1.02, from 92 cents in 1994.

Net income for the first nine months was $158,759,000, up 13.2 percent from the $140.2 million of 1994. Per-share income for the first nine months was $2.95, an increase of 10.1 percent from $2.68 in 1994.

During the quarter, three acquisitions were completed -- Southwest Bancshares Inc. of Springfield, Mo.; AmeriFirst Bancorporation Inc. of Sikeston; and Plains Spirit Financial Corp. of Davenport, Iowa.

Mercantile's return on assets for the first three quarters rose to 1.37 percent, up from 1.29 percent during the same period last year.

Mercantile Bancorporation Inc., headquartered in St. Louis, owns 52 financial institutions in Missouri -- including Cape Girardeau -- Eastern Kansas, Southern Illinois, Northern Iowa and Arkansas. Mercantile has additional mergers pending in Iowa, Illinois and Arkansas.

Mercantile Bancorporation has declared a quarterly cash dividend of 33 centers per share of common stock, payable next Jan. 2 to shareholder of record Dec. 11.