September 12, 2005
Commerce Bank Guides Lower, Sites Interest Rates
Commerce Bancorp Inc. (NYSE: CBH), the holding company for Commerce Bank announced today that it expects to miss Wall Street expectations for the next two quarters because of interest rates. Commerce Bancorp's Chairman Vernon Hill stated that the margin spread (the difference between long and short term interest rates) on treasury bonds has affected earnings more than expected.
As a result, Commerce Bancorp's shares have fallen more than $2.50 or 7%.
The AP Report can be found here
TheStreet.com's report can be found here.
September 12, 2005 | Permalink
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