Commerce Bancshares has obtained all necessary regulatory approvals to proceed with the previously announced $585m acquisition of FineMark, a Florida-based bank holding company.
This transaction is expected to conclude on 1 January 2026.
The Federal Reserve Bank of Kansas City and the Missouri Division of Finance have both granted approval for the merger.
The deal, which was announced in June 2025, now remains subject to FineMark shareholder consent and standard closing conditions.
Under the agreed terms, FineMark shareholders will receive 0.69 shares of Commerce common stock for each FineMark share. This exchange rate values FineMark shares at $41.87 each, based on Commerce’s stock price as of 13 June2025.
FineMark is the parent company of FineMark National Bank & Trust and operates 13 banking offices across Florida, Arizona, and South Carolina.
As of 30 June 2025, FineMark reported assets totalling $3.9bn, with deposits and loans amounting to $3.1bn and $2.7bn respectively.
Commerce Bancshares is a regional bank holding company with total assets of $32.3bn. Its subsidiary, Commerce Bank, offers a range of banking services across the Midwest and maintains commercial offices in several major US cities including Dallas and Houston.
FineMark, which was established in 2007, operates under the symbol FNBT on the OTCQX market.
Commerce Bank president and CEO John Kemper said: “With combined assets of $36bn and $86bn in wealth assets under administration, this partnership represents a powerful alignment of cultures, values, and vision.
“Together, we will have a stronger foundation for growth and will deliver more seamless, innovative, and personalised experiences for our wealth management and private banking clients. This is more than a simple expansion; it’s a shared commitment to excellence, growth, and long-term value for our clients, shareholders, and communities.”
Last month, Commerce Bancshares announced its second-quarter earnings for 2025, reporting a net income of $152.5m and earnings per share of $1.14, reflecting a rise from the previous year’s figures. For the first half of 2025, the bank holding company recorded net income of $284.1m, up from $252.2m in the same period in 2024.
