Commerce Bancshares, Inc. closed its $585 million all‑stock acquisition of FineMark Holdings, Inc. on January 1, 2026, adding FineMark National Bank & Trust to its portfolio and expanding the bank’s private‑banking and wealth‑management presence into Florida, Arizona and South Carolina.
The deal lifts Commerce’s total assets to roughly $36 billion and assets under administration to $90 billion, positioning the bank as the 15th largest trust company in the United States on a pro‑forma basis as of September 30, 2025. Prior to the transaction, Commerce reported $32.0 billion in total assets at the end of Q4 2024, so the acquisition represents a 12% increase in asset size and a 15% rise in AUA, underscoring the scale of the expansion.
FineMark’s assets as of March 31, 2025 were $4.0 billion, with $3.1 billion in deposits and $2.6 billion in loans, and $7.7 billion in AUA. The acquisition therefore adds a high‑net‑worth client base that is expected to accelerate fee‑based revenue growth. Management estimates the deal will be approximately 6% accretive to 2026 earnings and that cost‑saving synergies of about 15% of FineMark’s non‑interest expenses—roughly $11.9 million annually—will be realized.
FineMark National Bank & Trust will operate as a division of Commerce Bank, preserving existing advisor‑client relationships while integrating into Commerce’s systems. The company plans to complete the operational integration in the second half of 2026, a timeline that aligns with the projected synergy realization schedule.
John Kemper, CEO of Commerce Bancshares, said the transaction “is a natural fit that expands our footprint in high‑growth markets and strengthens our fee‑based revenue base.” John Handy, CEO of Commerce Trust, added that the deal “provides a stronger platform for continued growth in wealth management and private banking.” Joseph Catti, CEO of FineMark, noted that the partnership “will benefit both institutions and their clients by combining deep expertise with a broader geographic reach.”
The acquisition marks Commerce’s first major purchase in more than a decade, signaling a strategic pivot toward accelerated growth in the wealth‑management sector. The deal also reflects broader industry consolidation trends, as banks seek scale to compete for high‑net‑worth clients and to leverage technology for cross‑selling opportunities.
The exchange ratio for the transaction was adjusted on December 3, 2025, from 0.690 to 0.7245 Commerce shares per FineMark National Bank share, to account for a dividend declared by Commerce in October 2025. FineMark’s niche in serving professional athletes—about 300 athletes with $600 million in AUA—adds a unique client segment to Commerce’s portfolio.
Overall, the acquisition positions Commerce Bancshares as a more formidable player in the private‑banking and wealth‑management landscape, with a broadened geographic footprint and a stronger fee‑based revenue engine that is expected to drive long‑term value creation.
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