Tag Archives: UMB

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UMB acquires Marquette Financial Companies

UMB Financial Corporation (Nasdaq: UMBF), a $16.3 billion diversified financial holding company as of September 30, 2014, headquartered in Kansas City, Mo., and the Pohlad family of Minneapolis, Minn., announced the execution of a definitive agreement for UMB to acquire Marquette Financial Companies (MFC), a $1.3 billion financial-services company owned by the Pohlad family, in an all-stock transaction.

MFC operates 13 branches in Arizona and Texas, two national specialty-lending businesses focused on asset-based lending and factoring as well as an asset-management firm.

Upon closing, the Pohlad family will receive approximately 3.4 million shares, or $182.5 million based on UMBF’s closing price of $53.16 on Friday, December 12, 2014, representing approximately 7% ownership in UMBF. This consideration represents a multiple of 1.6x MFC’s tangible book value as of September 30, 2014. The consideration is subject to closing equity adjustments.

“With this announcement, UMB continues to demonstrate our commitment to partnering with companies that are a strategic, financial and cultural fit. We expect the combination of UMB and MFC to be financially attractive as a result of our complementary balance sheets, increased penetration of strategic markets and the addition of national business lines,” said Mariner Kemper, chairman and CEO, UMB Financial Corporation.

Anticipated metrics of the transaction include:
• Expected to be immediately accretive to UMB’s tangible book value per share at closing.
• Estimated to be accretive to 2016 EPS.
• Cost savings of approximately $14 million, or 23% of the last twelve months of MFC noninterest expense as of September 30, 2014, to be phased in over two years.

“This acquisition will quickly increase UMB’s presence in Arizona and Texas—two key growth markets for UMB—and supplement UMB’s commercial-banking services with national factoring and asset-based lending and asset-management businesses. Cultural compatibility, so critical to successful integration, was another important factor in our criteria, and we see great similarities in how our companies approach business practices, engage our associates and serve our communities,” Kemper said.

Scottsdale Opening - Branch Picture

UMB opens Scottsdale banking center

UMB Bank Arizona, a subsidiary of UMB Financial Corporation (NASDAQ: UMBF) announced the opening of a new full-service banking center in Scottsdale. Positioned in Kierland Commons, the new UMB Bank is located at 16210 North Scottsdale Road.

In addition to full-service consumer banking, the Scottsdale location will include private banking, investment and wealth management services and commercial banking. Customer amenities will consist of a drive up ATM and night depository.

Given UMB’s commitment to sustainability, the banking center is seeking LEED certification. The Leadership in Energy and Environmental Design (LEED) green-building rating system is a national benchmark for environmentally friendly, high-performance buildings.

The building was constructed according to the standards set forth in the LEED certification guidelines. The standards implemented include: daylighting and lighting controls, a highly efficient heating and cooling system, reflective roofing and concrete paving, using recycled and regional materials, recycling on site during and after construction, water-saving plumbing fixtures and the use of low-emitting materials such as paint, carpet and sealants.

“UMB offers an array of banking services with expertise our clients can count on,” said Jim Patterson, chief executive officer, UMB Bank-Arizona.  “Our continued expansion in Scottsdale and Phoenix will allow UMB to be a convenient banking alternative.”

The Kierland Commons banking center will be open 9 a.m. to 5 p.m., Monday through Friday. To contact the Kierland Commons UMB Bank, call (480) 315-6800 or visit the UMB website at www.umb.com.