Tampa, Fla.-based AtlasClear Holdings is acquiring Commercial Bancorp of Pine Bluffs, Wyo. .The share purchase agreement, announced Feb. 10, is expected to provide AtlasClear with banking infrastructure — payment rails, deposit capabilities and lending functionality. AtlasClear sees the acquisition as supporting its long-term goal of providing “an integrated clearing, banking and financial infrastructure platform.” The $31 million Commercial Bancorp has a single branch. Pine Bluffs is in southeast Wyoming near the Nebraska border. Commercial Bancorp is accepting 73 percent of the total sales consideration in shares of the fintech holding company’s common stock. The price of the deal has not been announced. AtlasClear Executive Chair John Schaible said the acquisition “streamlines the transaction for regulators, preserves cash, aligns incentives through equity ownership, and delivers full ownership of a profitable Federal Reserve member bank that we expect to be accretive.”
