CommerceBancorp: The Newport Beach parent company of...

CommerceBancorp: The Newport Beach parent company of CommerceBank reported a second-quarter profit of $53,000, or 2 cents a share, compared with $237,000, or 10 cents a share, for the same period in 1991. Earnings for the first half dropped to $285,000, or 13 cents a share, from $848,000, or 35 cents a share. As of June 30, assets totaled $306.6 million, down 7% from $330.5 million a year earlier. The company said its earnings continue to be affected by weak economic conditions, which have resulted in lower interest margins, as well as high expenses related to non-performing assets and a decrease in the amount of loans outstanding.