Commerce Bank to Acquire St. Louis Firm, Nolan & Associates

By Will Crow

Commerce Bank has reached an agreement to acquire St. Louis–based Nolan & Associates. Photo credit: Shutterstock (Andrii Yalanskyi).

Posted June 29, 2026

Commerce Bank announced its plans to acquire the St. Louis–based investment bank, Nolan & Associates.

Established in 1976, Nolan & Associates is a middle-market boutique investment banking firm that provides sell-side, buy-side, and capital raise advisory services to its clients. The firm was founded by Pat C. Nolan.

Following the closure of the deal, Nolan will operate as a wholly owned subsidiary of Commerce Bank. Commerce Bank will retain Nolan’s employees and office, according to a release.

Terms of the transaction were not disclosed.

In addition to expanding its St. Louis footprint, Commerce Bank hopes this transaction will add differentiated investment banking capabilities to Commerce’s existing commercial and wealth platforms

“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,” Bob Holmes, Commerce Bank St. Louis Chairman and CEO, said in the release. “This strengthens our ability to deliver a more seamless, end-to-end experience for our clients.”

As part of the deal, Commerce Bank will also acquire Middle-Market Transactions, Inc., a Nolan & Associates entity that delivers advisory services.

“We’ve built Nolan & Associates on long-term relationships, trusted advice, and a strong commitment to our clients and community,” Patrick Nolan, President of Nolan & Associates, said in the release. “Commerce shares those same values and a relationship-driven culture, which made this a natural fit. We’re proud to continue serving our clients with the same team and approach, now backed by the broader capabilities and reach of Commerce.”

Headquartered in Kansas City, Commerce Bancshares, Inc. has $35.7 billion in assets as of March 31, 2026. Today, the bank operates in 11 states.

Nolan & Associates is Commerce Bank’s next move in its merger and acquisition strategy. Last year, Commerce Bank announced it would acquire Florida-based FineMark Holdings, Inc., which was valued at $585 million. The agreement officially closed in January.