ST. LOUIS, MO, June 1, 2023 –– Commerce Bank announced today it has completed the acquisition of L.J. Hart & Company, a leading municipal bond underwriter and advisor located in Chesterfield, MO. Commerce previously announced it entered into a definitive agreement to acquire the company. Terms of the deal were not disclosed.
“We are pleased to have L.J. Hart & Company join the Commerce team,” said Bob Holmes, chairman and chief executive officer, Commerce Bank – St. Louis. “Their capabilities will enhance our offering to capital market customers and bolster our institutional fixed-income business.”
L.J. Hart & Company, now a subsidiary of Commerce Bank, will retain the company’s founding CEO and principal, Larry J. Hart, as well as all the current staff members. “Commerce was helpful throughout the transition and warmly welcomed our group,” said Hart. “With the support and resources of an institution like Commerce and our existing relationships with issuers, we are well-positioned to accelerate our service to customers across the region.”
About Commerce Bank
With $32 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a regional bank holding company offering a full line of banking services through its subsidiaries, including payment solutions, investment management and securities brokerage. One of its subsidiaries, Commerce Bank, leverages nearly 160 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. It also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.
1As of March 31, 2023