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Commerce Bancshares, Inc. (CBSH) has entered into an agreement to acquire FineMark Holdings for $585 million in an all-stock transaction. The deal is expected to close on January 1, 2026, pending regulatory approval and FineMark shareholder consent. FineMark, a commercial bank founded in 2007, has assets totaling $4 billion, with $3.1 billion in deposits and $2.6 billion in loans as of March 31, 2025.
Under the terms of the deal, FineMark shareholders will receive 0.690 shares of CBSH for each share they own, valued at $41.87 per share based on CBSH’s closing price on June 13, 2025. The acquisition is projected to be 6% accretive to CBSH’s 2026 GAAP earnings and anticipates 15% cost savings from FineMark’s non-interest expenses. However, it will result in a 2.2% dilution of tangible book value per share, with a 1.6-year earn-back period.
The transaction is expected to incur one-time pre-tax expenses of $57 million and have a limited impact on CBSH’s capital at closing, maintaining a Common Equity Tier 1 (CET1) ratio of 17%.
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