The American Bankers Association recently released its Top 100 Farm Lenders by Dollar Volume for Q3 2015 and UMB Bank, a subsidiary of UMB Financial Corporation (Nasdaq: UMBF), is ranked No. 33 on the list. The rankings are based off information from FDIC data in Q3 2015 and loans within the Agricultural and Farmland FRB Codes.
“UMB has always been in the agriculture lending business, given that our footprint contains some of the most concentrated areas of ag resources in the U.S. and the world,” said Bill Watson, president of UMB Bank’s Agribusiness Division. “In late 2012, we expanded our focus, adding relationship officers with specific expertise in dairy, food processing, row-crop and seed production. Since that time, we’ve seen a 75 percent increase in ag loan balances.”
In Q4 2012, UMB was ranked No. 49 on the ABA Top Farm Lenders list and has since moved up 16 spots to No. 33. During that time, UMB’s ag loan balances have grown from $281.3 million in Q4 2012 to $493.1 million as of Sept. 30, 2015.
UMB’s Agribusiness Division serves all areas of agriculture, from producers and processors to suppliers and manufacturers of equipment and goods. The company has a well-established history in agricultural lending. When UMB opened in Kansas City, Mo., 102 years ago, the city was largely agricultural and the company generated many of its loans to agribusinesses. Today, UMB serves more than 1,000 clients in this industry.