UMB Financial Corporation

UMB Financial Corporation
Public
Traded as NASDAQ: UMBF
Industry Banking
Founded 1913 (current name in 1994)
Headquarters Kansas City, Missouri
Key people
Mariner Kemper
Mike Hagedorn[1]
Revenue $897 million (2016)[2]
$123 million (2016)[2]
Increase $166 million USD (2016)[2]
Total assets $19.094 billion (2016)[2]
Total equity $1,894 million (2016)[2]
Number of employees
3,887
Website www.umb.com

UMB Financial Corporation is an American financial services company based in Kansas City, Missouri, offering complete banking, payment solutions, asset servicing and institutional investment management to customers.

History

In 1919, W.T. Kemper and Associates bought shares in City Center Bank, and R. Crosby Kemper Sr. became the president of the company. In 1926, the bank built a six-story headquarter building. In 1934, the bank was renamed City National Bank and Trust Company and moved to Kansas City's financial center. In 1959, R. Crosby Kemper Jr. (3rd generation of the Kemper family) became president of the bank and led the installation of its first computer processing system. The bank became a holding of other banks and renamed United Missouri Bancshares, Inc in 1971.[3]

In 1987, UMB acquired three bank from FCB Corp. in Southern Illinois. In 1992, UMB stepped in Colorado with the purchase of Valley Bank and National Bank of the West in Colorado Springs. UMB acquired Denver's Columbine National Bank in 1992, and in 1994, all of UMB's Colorado banks were merged into one entity, UMB Bank Colorado. In 1994, the bank changed its name and became UMB Financial Corporation. In 1995, UMB acquired Oklahoma Bank. That same year, UMB released its first online banking solution.[3]

In February 2002, the bank acquired naming rights to St. Louis' Riverport Amphitheatre and renamed it UMB Bank Pavilion. This agreement would expire in 2006, at which point it became Verizon Wireless Amphitheater. In 2004, Peter deSilva became the president, and Mariner Kemper chairman and CEO of UMB Financial Corporation.[3]

In December 2014, UMB agreed to acquire Marquette Financial Companies, which expanded its operations into the U.S states of Texas and Arizona.[4][5]

Lines of business

Subsidiaries

Its banking subsidiaries own and operate banking and wealth management centers throughout Missouri, Wisconsin, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Texas, and Arizona. 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 Financial Corporation
  • 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
  • Scout Distributors, LLC
  • Scout Investments, Inc.
  • United Missouri Insurance Company

Recognition

References

  1. "Officers and directors". UMBfinancial.com. Retrieved January 27, 2016.
  2. 1 2 3 4 5 "UMB Financial Corporation Reports Fourth Quarter and Full-Year 2015 Results". snl.com. January 26, 2016. Retrieved January 27, 2016.
  3. 1 2 3 "Our history". Umb.com.
  4. "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". Marketwatch.com. 15 December 2014.
  5. "UMB Financial (UMBF) Set to Acquire Marquette for $182.5M". Zacks.com. 16 December 2014.
  6. "Best Banks in America". Forbes. January 6, 2010. Retrieved 2015-03-27.
  7. "Congratualtions UMB" (PDF). Congressional Printing Office. March 24, 2010. Retrieved 2015-03-27.

External links

This article is issued from Wikipedia - version of the Tuesday, February 23, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.