Commerce Bank Reports 1997 Earnings Up by 15%.CAMP HILL, Pa.--(BUSINESS WIRE)--Oct. 14, 1997--Commerce Bank/Harrisburg, N.A. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Small Cap Market, Symbol: COBH) reported Tuesday that net income increased by 15 percent to $1,472,000 in the first nine months of 1997. In the same period last year earnings were $1,281,000. Third quarter net income was $463,000, an increase of 9 percent over the third quarter of last year. It was also $20,000 higher than the net income reported in the second quarter of this year. Earnings per share totaled $1 for the first nine months of 1997, as compared to 92 cents for the same period in 1996. Third quarter net income per share increased by 12 percent to 29 cents, up from 26 cents during the third quarter of 1996. Bank President/CEO James T. Gibson said he was pleased that earnings continue to rise despite the many costs involved with Commerce's aggressive expansion of branch offices in Central Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York . Commerce has opened four new offices in York York, former name of Toronto, Canada York, Ont.: see Toronto, Ont., Canada. York, city, England York, city (1991 pop. 123,126) and district, North Yorkshire, N England, at the confluence of the Ouse and Foss rivers. and Cumberland Counties Cumberland County may refer to: In Australia:
The opening of the new offices also contributed to the sharp rise in deposits, which were $200 million at the end of the third quarter, an increase of 19 percent over the first nine months of 1996. Total assets reached $219 million, up 20 percent from the $182 million reported at the end of the third quarter of last year. Commerce has three offices each in Cumberland, Dauphin Dauphin, town, Canada Dauphin (dô`fĭn), town (1991 pop. 8,453), SW Man., Canada, on the Vermilion River. It is the retail and distribution center for an agricultural, lumbering, and fishing area. and York Counties York County may refer to one of several counties:
CONTACT: Commerce Bank/Harrisburg, N.A. James T. Gibson, president/CEO, or Mark A. Zody, senior VP/CFO, 717/975-5630 |
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