BUSINESS MEMO: RECORD EARNINGS

Commerce Bancshares Inc. announced record earnings of $37.5 million for the quarter ending June 30, an increase of 16 percent from the $32.3 million during the same period in 1997. Per-share earnings were $1.21, up 16 percent from the $1.04 of last year. The return on assets for the quarter was 1.46 percent, and the return on equity was 15.2 percent.

Commerce Bancshares, with assets of $10.3 billion, is a registered bank holding company operating at 280 sites in Missouri, Illinois and Kansas. The company has loans of $6.6 billion and deposits of $8.7 billion.