Commerce Bancshares to Acquire FineMark in $585 Million All-Stock Deal

Commerce Bancshares has announced an agreement to acquire Florida-based FineMark Holdings in an all-stock deal valued at approximately $585 million. The transaction, revealed on Monday, marks a significant step in ongoing consolidation within the U.S. regional banking sector.

Under the terms of the deal, FineMark shareholders will receive 0.69 shares of Commerce Bancshares for each share they own. Based on Friday’s market close, the offer reflects a 54.7% premium for FineMark investors, according to calculations reported by Reuters.

FineMark, founded in 2007, operates 13 offices across Florida, Arizona, and South Carolina. The bank serves high-net-worth clients with a range of banking, trust, and investment services. As of March 31, FineMark reported total assets of $4 billion, and its trust and investment division manages approximately $7.7 billion in assets under administration.

Commerce Bancshares, headquartered in Kansas City, Missouri, views the acquisition as a move to significantly boost its wealth management capabilities and extend its reach into growing markets. With the addition of FineMark, the combined entity will manage over $36 billion in banking assets and more than $82 billion in wealth assets under administration.

“This is a compelling opportunity to bring together two strong organizations with shared values and a client-first approach,” said John Kemper, CEO of Commerce Bancshares. “Together, we are poised to accelerate growth, expand our reach, and deliver even greater value to our clients and shareholders.”

The acquisition comes as regional banks across the U.S. look to merge and scale in response to growing technology expenses, compliance demands, and a shifting regulatory landscape. Analysts note that the relatively favorable merger environment has been partly supported by policies stemming from the Trump-era regulatory framework, which eased restrictions on bank consolidation.

Keefe, Bruyette & Woods served as the financial adviser to Commerce Bancshares on the deal, while FineMark was advised by Piper Sandler.

The transaction is scheduled to close on January 1, subject to regulatory and shareholder approvals.

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