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Commerce Bank Acquires Municipal Bond Underwriting And Advisory Firm, L.J. Hart & Company

Nov 18, 2022•over 2 years ago

Acquiring Company

Commerce Bancshares

Acquired Company

Advisory

BankingFinanceFinancial Services

Description

Commerce Bank announced it has entered into a definitive agreement to acquire L.J. Hart & Company, a municipal bond underwriter and advisor. Terms of the transaction were not disclosed.

Company Information

Company

Commerce Bancshares

About

With $32.6 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered 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 more than 155 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 September 30, 2022

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed