BusinessJuly 26, 1999
BUSINESS MEMO: MERCANTILE EARNINGS
Mercantile Bancorporation Inc. has reported second-quarter earnings at $120,528,000, up 12.5 percent from the second quarter of 1998. Diluted earnings per share were 75 cents a share, compared to 69 cents a year ago. Net income for the first six months was $238,565,000, or $1.49 per diluted share, compared to $222,006,000, or $144 per share a year ago...
Mercantile Bancorporation Inc. has reported second-quarter earnings at $120,528,000, up 12.5 percent from the second quarter of 1998. Diluted earnings per share were 75 cents a share, compared to 69 cents a year ago.
Net income for the first six months was $238,565,000, or $1.49 per diluted share, compared to $222,006,000, or $144 per share a year ago.
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Firstar Corp. announced in April that it had signed a definitive agreement to acquire Mercantile Bancorporation. The transaction is expected to close by late third quarter or early in the fourth quarter.
Total Mercantile assets were $35.5 billion. Mercantile Bancorporation, headquartered at St. Louis, operates offices at more than 500 sites throughout Missouri, Iowa, Kansas, Illinois and Arkansas, including Cape Girardeau.
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