FNS Bancshares, Inc. reached an agreement to acquire Commerce Bancshares, Inc. in cash on March 28, 2017. Peoples State Bank Of Commerce, subsidiary of Commerce Bancshares, Inc., will be merged with and into FNB Bank, subsidiary of FNS Bancshares, Inc., and the current banking locations of Peoples State Bank Of Commerce will operate as branches of FNB Bank following the merger. FNB Bank is expected to keep all 45 Peoples State Bank Of Commerce employees and add other Nashville area branches. Brenda Barnes, Chief Executive Officer of Peoples State Bank Of Commerce, will remain in an executive management role post-merger as will Hunter Battle, who will continue to head up the local mortgage division. The transaction is subject to approvals from regulatory agencies and Commerce Bancshares shareholders. As on April 12, 2017, the transaction got approved by Federal Reserve. As on April 26, 2017, the transaction got approved by Tennessee Department of Financial Institutions. The transaction is expected to close in third quarter of 2017. Matthew Veneri and Eric Lawless of FIG Partners, LLC acted as financial advisors and Jonathan S. Hightower of Bryan Cave LLP acted as legal counsel for FNS Bancshares, Inc. Hovde Group, LLC acted as financial advisor and Jones Walker LLP acted as legal counsel for Commerce Bancshares, Inc.