Commerce Bancshares, a bank holding company headquartered in Missouri, has agreed to acquire Florida-based FineMark Holdings (FineMark), in an all-stock deal valued at around $585m.

FineMark, established in 2007, offers asset management, banking, and investments services.

It is the parent of FineMark National Bank & Trust, a chartered bank and trust company with 13 banking offices across Florida, Arizona, and South Carolina.

The deal will see FineMark shareholders getting 0.690 shares of Commerce common stock for each share held.

Both companies’ boards of directors have approved the merger deal.

Commerce expects the acquisition to enhance its “wealth management business in high-growth markets”. 

The completion of the merger is expected on 1 January 2026, contingent upon regulatory approval, the consent of FineMark shareholders, and other standard closing conditions.

Commerce president and CEO John Kemper called FineMark a “natural culture fit”.

Kemper stated: “Together, with over $36 billion in assets and over $82 billion in wealth assets under administration, we are poised to accelerate growth, expand our reach, and deliver even greater value to clients, shareholders, and the communities we serve for many years to come. This acquisition is about more than scale—it’s about shared purpose and the opportunity to achieve more together.”

As of 31 March 2025, FineMark reported assets of $4bn, deposits of $3.1bn, and loans of $2.6bn. Its Trust and Investment division manages approximately $7.7bn in assets under administration (AUA) for around 2,000 clients.

FineMark chairman and CEO Joseph R. Catti said: “We believe it reflects well on FineMark that a bank of Commerce’s calibre would see the value in what we have created. We are excited to announce a partnership that will benefit both institutions, our clients, and shareholders, while also positioning us to work together towards the next chapter of our combined organisation’s legacy.”