Commerce Bancshares Plans $585M Acquisition FineMark Bank, Florida Arizona South Carolina

Commerce Bancshares Inc. has announced a definitive all-stock merger agreement to acquire FineMark National Bank & Trust for approximately $585 million, with the transaction expected to close on January 1, 2026, pending regulatory and shareholder approvals. FineMark, which operates 13 banking offices across Florida, Arizona, and South Carolina, will retain its name and CEO, Joseph Catti, and bring about $7.7 billion in assets under administration and $4 billion in bank assets to Commerce. The merger is seen as a strategic move to enhance Commerce’s wealth management business and expand its footprint into high-growth markets, complementing its existing presence primarily in the Midwest. Both companies emphasize a shared client-first philosophy and cultural alignment, with leaders from both sides highlighting the partnership's potential to accelerate growth and deliver greater value to clients and communities. FineMark’s shareholders will receive 0.690 shares of Commerce common stock for each FineMark share, equating to a per-share value of $41.87 based on Commerce's stock price prior to the announcement. The deal reflects a broader trend of consolidation in the U.S. banking sector, combining Commerce’s $32.4 billion in assets with FineMark’s regional strengths and client base.