$585M deal for Fort Myers bank wins regulatory approvals

Kansas City-based Commerce Bank says it has received all the regulatory approvals for its $585 million acquisition of Fort Myers-based FineMark National Bank & Trust. 

The bank, a subsidiary of Commerce Bancshares, says the Federal Reserve Bank of Kansas City and the Missouri Division of Finance have approved the transaction. The deal, which still requires the approval of FineMark shareholders, is expected to close Jan. 1, 2026. 

“We are pleased to have received regulatory approval for our merger with FineMark,” Commerce Bank President and CEO John Kemper says in a release. “This is a significant milestone in bringing our organizations together.” 

The deal, an all-stock transaction, was announced June 16.

FineMark was founded in 2007 and has 13 banking offices in Florida, Arizona and South Carolina. Through June 30 it had assets of $3.9 billion, deposits of $3.1 billion and loans of $2.7 billion. FineMark’s Trust and Investment business, Commerce officials say in the statement, “delivers a comprehensive suite of highly personalized services to approximately 2,000 clients with approximately $8.3 billion in assets under administration.”

Commerce Bancshares, meanwhile, is a regional bank holding company with $32.3 billion in assets that offers a full line of banking services through its subsidiaries, including payment solutions, investment management and securities brokerage.Commerce Bancshares is publicly traded (symbol: Nasdaq: CBSH).