Commerce Bancshares Says FineMark Acquisition Will Support Wealth Management Growth

Commerce Bancshares said Wednesday (July 16) that it expects its planned acquisition of FineMark National Bank & Trust to support its efforts to grow its wealth management business.

The planned acquisition of the private bank, which was announced June 16, will bring to Commerce Bancshares an expanded footprint in Florida; new markets in Arizona and South Carolina; and niche wealth expertise that includes the services FineMark provides to sports professionals, Commerce Bancshares said in its second-quarter earnings highlights presentation released Wednesday.

The FineMark brand will be retained as a division of Commerce Bank, and there is an opportunity to grow the FineMark business by adding Commerce’s broader product suite, according to the presentation.

The transaction is expected to close on Jan. 1, 2026, Commerce Bancshares said in a Wednesday earnings release.

“With this acquisition, FineMark will bring new capabilities, specialized services for niche client segments and extended market reach,” Commerce Bancshares CEO John Kemper said in the release. “Commerce will add scale and depth with resources, capital, operational infrastructure, regulatory experience and long-term stability.”

When announcing the acquisition in a June 16 press release, Commerce Bancshares said that it involves an all-stock transaction valued at about $585 million and that it will bolster Commerce’s wealth management business in high-growth markets.

FineMark offers “concierge wealth management and banking” at 13 locations, including 10 in Florida, two in Scottsdale, Arizona, and one in Charleston, South Carolina, according to a June 16 presentation about the acquisition.

Commerce currently has over $76 billion in total wealth assets under administration, according to Wednesday’s earnings highlights presentation. It offers wealth management services not only in its core banking footprint in the Midwest, but also through wealth management offices in Dallas, Houston and Naples.

The bank said in the third quarter of 2024 that it aimed to grow its wealth management business by using its new private banking loan and deposit system to offer specialized products, services and automation, and by expanding into new markets in which wealth is concentrated.

In the second quarter of 2025, Commerce saw trust fees, along with bank card transaction fees, lead its growth in non-interest income.

Trust fees grew $3.3 million, or 6.3%, compared to the same period in 2024, “mostly due to higher private client fees,” the earnings release said.