Commerce Bancshares Says FineMark Acquisition Will Support Wealth Management Growth

Core Viewpoint - Commerce Bancshares is set to enhance its wealth management business through the acquisition of FineMark National Bank & Trust, which is valued at approximately $585 million and expected to close on January 1, 2026 [4][3]. Group 1: Acquisition Details - The acquisition will expand Commerce Bancshares' presence in Florida, Arizona, and South Carolina, and will incorporate FineMark's niche wealth management services, particularly for sports professionals [2][4]. - FineMark will operate as a division of Commerce Bank, allowing for growth by integrating Commerce's broader product offerings [3]. Group 2: Financial Impact - Commerce Bancshares currently manages over $76 billion in total wealth assets, with a focus on expanding its wealth management services into new markets [6]. - In the second quarter of 2025, trust fees increased by $3.3 million, or 6.3%, primarily due to higher private client fees, indicating a positive trend in non-interest income [8][7]. Group 3: Strategic Goals - The bank aims to leverage its new private banking loan and deposit system to offer specialized products and services, targeting markets with concentrated wealth [7]. - CEO John Kemper emphasized that the acquisition will provide new capabilities and enhance operational stability, contributing to long-term growth [4].