Commerce Bank inks acquisition

Kansas City-based Commerce Bancshares Inc. (Nasdaq: CBSH) has penned a new acquisition agreement.

The company, which has four Springfield branches, agreed to buy St. Louis–based investment banking firm Nolan & Associates, according to a news release. The deal includes the acquisition of Middle-Market Transactions Inc. – through which Nolan & Associates delivers advisory services – for undisclosed terms.

“With the addition of Nolan, we are expanding our ability to serve business owners through some of the most important decisions they will make – whether that’s growing, acquiring or transitioning their business,” said Bob Holmes, chair and CEO of Commerce Bank – St. Louis, in the release. “This strengthens our ability to deliver a more seamless, end-to-end experience for our clients.”

Founded by Pat C. Nolan in 1976, the company is a second-generation business. Nolan provides sell-side, buy-side and capital raise advisory services to a variety of clients.

“Joining Commerce is an exciting next chapter for our firm,” said Patrick Nolan, president of Nolan & Associates, in the release. “We’ve built Nolan & Associates on long-term relationships, trusted advice and a strong commitment to our clients and community. Commerce shares those same values and a relationship-driven culture, which made this a natural fit."

Commerce Bancshares has $35.7 billion in assets as of March 31.

CBSH shares were trading at $58.19 as of 11:30 a.m., compared with a 52-week range of $46.99 to $63.19 per share.