Commerce Bank to acquire Florida company

Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH), which operates four Commerce Bank branches in Springfield, has inked a deal to acquire a Fort Myers, Florida, company.

The all-stock transaction for FineMark Holdings Inc. (OTCQX: FNBT) is valued at roughly $585 million and is expected to close Jan. 1, 2026, pending approval by regulators and FineMark shareholders, as well as other customary closing conditions, according to a news release.

"We are excited to welcome FineMark, marking a strategic milestone that is the culmination of years of relationship building, mutual trust and shared values," Commerce President and CEO John Kemper said in the release. "FineMark is a natural culture fit, with a history of strong asset quality, a shared client-centric approach to wealth management and banking, and a commitment to building strong communities."

Founded in 2007, FineMark Holdings operates FineMark National Bank & Trust with 13 branches in Florida, Arizona and South Carolina. As of March 31, FineMark held assets of $4 billion, deposits of $3.1 billion and loans of $2.6 billion, and the company's trust and investment division has some 2,000 clients with $7.7 billion in assets under administration.

As of March 31, Commerce's assets were $32.4 billion and deposits were $25.8 billion. During the first quarter, Commerce posted a 16.8% net income increase to $131.6 million, according to past reporting. 

CBSH shares were trading at $60.80 as of 9:21 a.m., compared with a 52-week range of $50.60 to $72.75 per share. FineMark's over-the-counter stock was trading at $40 as of market open today, compared with a 52-week range of $25.50 to $40.66 per share.