Commerce Bancshares Wealth Bet Pays Off as Trust Fees Surge

Commerce Bank parent company Commerce Bancshares grew its trust fees by 26%, or $14.5 million, year over year in the first quarter as it targeted the wealth management business with the help of its recently acquired FineMark National Bank & Trust.

“We delivered a strong first quarter highlighted by solid profitability and continued momentum across our diversified fee business,” Commerce Bancshares CEO John Kemper said in a Tuesday (April 21) earnings release.

The Missouri-based regional bank holding company attributed its gains in trust fees to higher private client fees, according to an earnings highlights presentation released Tuesday.

Among other sources of non-interest income, the bank saw year-over-year gains of 14% in consumer brokerage services, 7% in deposit account charges and other fees, and 4% in capital market fees.

Its bank card transaction fees remained flat, while its loan fees and sales were down 5%, and its other non-interest income was down 1%.

Commerce Bancshares announced its plans to grow its wealth management business in a third-quarter 2024 investor update. The bank said at the time that it aimed to do so by using its then-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.

On Jan. 1, Commerce Bancshares completed its acquisition of FineMark Holdings, the parent company of FineMark National Bank & Trust, after announcing in July 2025 that it planned to acquire that bank to support its efforts to grow the wealth management business.

As of Dec. 31, 2025, Commerce Bancshares is the 16th largest bank-managed trust company based on assets under management (AUM), with $91.4 billion in total trust assets under administration, according to the presentation.

While the bank’s core banking footprint consists of five states in the Midwest, it operates wealth management offices in Dallas, Houston, Naples, Fort Myers, West Palm Beach, Charleston and Scottdale.

“This was also our first full quarter incorporating FineMark, a strategic investment that meaningfully enhances our private banking and wealth management capabilities and expands our presence in highly attractive growth markets,” Kemper said in the release.