Reports Q2 ratio of annualized net loan charge-offs to average loans was 0.22% in the current quarter compared to 0.25% in the prior quarter. Reports Q2 Book value per share $27.43 vs. $26.19 in the prior quarter. John Kemper, CEO, said, “Commerce delivered a strong financial performance in the Q2, one that reflected our diversified operating model and the talented team behind it. Our financial results were supported by loan growth, strong fee income, low credit costs and continued disciplined expense management, all key ingredients in our steady profit growth over time.”
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