UMB Financial Corporation
US$1.208 billion (2020)[2] | |
US$338.9 million (2020)[2] | |
US$286.5 million (2020)[2] | |
Total assets | US$33.13 billion (2020)[2] |
Total equity | US$3.017 billion (2020)[2] |
Number of employees | 3,591 (2020) |
Website | www.umb.com |
UMB Financial Corporation is an American financial services holding company founded in 1913 as City Center Bank and based in Kansas City, Missouri. It offers a number of financial services from checking and savings accounts, credit services including home mortgages, auto loans, business loans and credit cards, to investing and wealth management, all are offered to individuals, companies and offers additional customization options for private wealth management.[3]
In 2015, for the sixth straight year, UMB ranked as one of America's Best Banks by Forbes[4] and SNL Financial, based on eight financial measures of asset quality, capital adequacy and profitability. UMB operates banking and wealth management centers in Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and North Texas.[5]
History
In 1919,
In 1987, UMB acquired FCB Corp.
In 2001, UMB purchased Sunstone Financial Group Inc. and rebranded it to UMB Fund Services, Inc. It followed in 2002 with its purchase of State Street Bank & Trust Company of Missouri.[10][11] In 2001 UMB also established Scout Investment Advisors Inc.[12]
In February 2002, the UMB acquired naming rights to
In June 2015, UMB acquired Marquette Financial Companies, which expanded its operations into the U.S states of Minnesota, Texas and Arizona.[15][16][17]
In April 2017, the firm sold Reams Asset Management and Scouts Investments to Raymond James Financial for $172.5 million.[18]
As of December 2019, UMB has 91 branches located across eight U.S. states: Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas. [19]
Lines of business
- Accounts Receivable Financing
- Commercial Banking and Lending
- Healthcare Services: Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA)
- Institutional Banking and Lending
- Personal Banking: Private Wealth Management and Consumer Banking
- Small Business Banking
- Transportation Finance
Subsidiaries
Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment adviser that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers.
- UMB Bank, National Association
- UMB Bank & Trust, National Association
- UMB Distribution Services, LLC
- UMB Financial Services, Inc.
- Marquette Asset Management, LLC
- Prairie Capital Management, LLC
- United Missouri Insurance Company
Recognition
- Ranked bank number 2 in the nation by Forbes (2009)[20]
- Entered Congressional Record for excellent performance during the financial crisis (2010)[21]
References
- ^ "Officers & Directors". UMBfinancial. Retrieved June 2, 2021.
- ^ a b c d e "Annual Reported Financial Statements". Retrieved June 2, 2021.
- ^ "UMB.com". Retrieved Jun 18, 2021.
- ^ "America's Best and Worst Banks". Forbes. December 22, 2014.
- ^ "UMB Locations". Retrieved June 18, 2021.
- ^ a b c "Our history". UMB Financial.
- ^ "Personal Banking Services from UMB Bank". UMB Financial. Retrieved July 12, 2017.
- ^ "Banking dynasty's new leading man". The Denver Post. June 10, 2005. Retrieved July 12, 2017.
- ^ "UMB Buys First Sooner Bancshares". The Oklahoman. August 4, 1995. Retrieved February 7, 2019.
- ^ Mader, Becca (September 1, 2002). "UMB Financial grows its Sunstone acquisition". Milwaukee Business Journal. Retrieved February 7, 2019.
- ^ "UMB closes on State Street acquisition". St. Louis Business Journal. May 7, 2001. Retrieved February 7, 2019.
- ^ "UMB creates unit to manage advisory work for Scout Funds". Kansas City Business Journal. May 15, 2001. Retrieved February 7, 2019.
- ^ "UMB Bank acquires naming rights to Riverport Amphitheatre". St. Louis Business Journal. February 13, 2002. Retrieved February 7, 2019.
- ^ "Peter J. deSilva Joins UMB as President and Chief Operating Officer" (Press release). UMB Financial. January 19, 2004. Retrieved February 7, 2019 – via Business Wire.
- ^ "UMB Financial Corporation Finalizes Acquisition of Marquette Financial Companies" (Press release). UMB Financial. June 1, 2015. Retrieved February 7, 2019 – via Business Wire.
- ^ "UMB Financial Corporation Announces Agreement to Acquire Marquette Financial Companies for $182.5m, Expanding Presence in Key Texas and Arizona Markets; Will Add Two Specialty-Lending Businesses, Asset-Management Firm" (Press release). UMB Financial. December 15, 2014 – via MarketWatch.
- ^ "UMB Financial (UMBF) Set to Acquire Marquette for $182.5M". Zacks Equity Research. December 16, 2014.
- ^ "Raymond James to pay $172M for Scout Investments". 20 April 2017.
- ^ "UMB Bank Fact Sheet" (PDF). UMB Financial. Retrieved September 6, 2020.
- ^ "Best Banks in America". Forbes. January 6, 2010. Retrieved March 27, 2015.
- ^ "Congratualtions UMB" (PDF). Congressional Record. Government Publishing Office: E471. March 24, 2010. Retrieved February 7, 2019.