Commerce Bank to Acquire Boutique Investment Bank Nolan

Commerce Bank is the principal banking subsidiary of Commerce Bancshares. Nolan & Associates is a family-owned boutique investment bank founded in 1976 and based in St. Louis, specializing in middle-market mergers and acquisitions and capital-raising advisory services. The acquisition would connect commercial banking, capital markets and wealth management, expanding opportunities for cross-selling and fee income.

Commerce Bank announced an agreement to acquire Nolan on June 29, 2026. Financial terms were not disclosed, and the transaction remains subject to regulatory approval and customary closing conditions. The deal includes Nolan's FINRA-regulated subsidiary, Middle-Market Transactions, Inc. After closing, Nolan will become a wholly owned subsidiary while retaining its employees and St. Louis office.