UMB Financial Corporation Strengthens Presence Through Major Acquisition
UMB Financial Corporation Enhances Its Portfolio
KANSAS CITY, Mo. – UMB Financial Corporation (Nasdaq: UMBF) has successfully completed its acquisition of Heartland Financial USA, Inc. (Nasdaq: HTLF). This strategic move marks a pivotal point in the company's history, as it expands its asset size to around $68 billion, based on previous financial metrics.
Expanding Geographical Footprint
With this acquisition, UMB is set to broaden its reach from eight to thirteen states. The deal not only increases the company's geographical presence but also significantly boosts its asset management under private wealth by an impressive 32%. Furthermore, UMB is now equipped to grow its retail deposit base, providing enhanced services to a wider community of customers.
A Statement from the Leadership
President and CEO Mariner Kemper expressed excitement about the acquisition, stating, "Today is a monumental day for our organization as we welcome HTLF customers and associates to UMB." He emphasized the opportunity to expand core services and how this merger opens doors to new communities, ensuring that customer goals in finance are met with greater capability.
Expanding Banking Network
This merger adds significant infrastructure to UMB, including 104 new branches and 115 additional ATMs, complementing its existing network of 93 banking centers and 235 ATMs. By welcoming HTLF, the integration of established brands such as Minnesota Bank & Trust and Wisconsin Bank & Trust into the UMB family will pave the way for a seamless transition. Customers are encouraged to continue their banking as usual until the changes materialize.
Community Engagement and Support
UMB Financial Corporation is committed to investing in the communities it operates. They are actively finalizing a Community Benefits Agreement to detail their commitment to enhancing community relations and providing support through various initiatives. As UMB integrates HTLF operations, it promises to uphold its values in corporate and associate giving across its newly expanded territory.
Board of Directors Expansion
As part of this acquisition, UMB's board of directors has expanded, welcoming five new members from HTLF—John Schmidt, Bradley Henderson, Jennifer Hopkins, Margaret Lazo, and Susan Murphy—bringing a diverse array of experiences to the table and strengthening the board's governance capabilities.
Looking Forward
As UMB Financial Corporation looks ahead, the goal remains focused on growth while remaining true to its foundational values established over a century ago. Emphasizing dedication to customer and community success, Mariner Kemper’s leadership instills confidence in their ability to navigate the opportunities this acquisition brings.
About UMB Financial Corporation
UMB Financial Corporation (Nasdaq: UMBF) is a well-respected financial services provider headquartered in Kansas City. It offers a range of services, including commercial banking, personal banking, and institutional banking. With a presence in multiple states and a reputation for comprehensive financial solutions, UMB continues to serve business and institutional clients both nationally and internationally.
Frequently Asked Questions
What is the significance of the acquisition?
The acquisition allows UMB Financial Corporation to increase its asset size, broaden its geographic reach, and enhance its wealth management services.
How will this acquisition affect existing customers?
Current customers of both UMB and HTLF can expect improved services and a wider range of banking options as the integration processes unfold.
When will the branches of HTLF be fully integrated into UMB?
The full integration of HTLF branches into UMB is expected to occur in the fourth quarter of 2025.
What are UMB’s commitments to the community following this deal?
UMB is finalizing a Community Benefits Agreement to enhance support for local initiatives in its expanded footprint.
Who are the new members of UMB’s Board of Directors?
With the acquisition, five HTLF board members—John Schmidt, Bradley Henderson, Jennifer Hopkins, Margaret Lazo, and Susan Murphy—have joined UMB’s Board, bringing valuable expertise and insights.
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