UMB Financial

#3271

Rank

$3.09B

MarketCap US

US United States

Country

Summary
UMB Financial Corporation operates as the bank holding company for the UMB Bank that provides various banking and other financial services. The Commercial Banking segment provides commercial loans and credit card; commercial real estate financing; letters of credit; loan syndication, and consultative service; various business solutions including asset-based lending, accounts receivable financing, mezzanine debt, and minority equity investment; and treasury management service, such as depository service, account reconciliation, cash management tool, accounts payable and receivable solution, electronic fund transfer and automated payment, controlled disbursement, lockbox service, and remote deposit capture service. The Institutional Banking segment offers asset management and healthcare service provided to institutional client; and fund administration and accounting, investor service and transfer agency, marketing and distribution, custody, alternative investment service, fixed income sale, trading and underwriting, and corporate trust and escrow service, as well as institutional custody service. This segment also provides healthcare payment solution includes custodial service for health saving accounts and private label, multipurpose debit cards to insurance carriers, third-party administrator, software companies, employers, and financial institutions. The Personal Banking segment offers deposit account, retail credit card, private banking, installment loan, home equity line of credit, residential mortgage, and small business loan, as well as internet banking, ATM network, private banking, brokerage and insurance service, and advisory and trust service. It operates through a network of branches and offices in the states of Missouri, Kansas, Colorado, Illinois, Oklahoma, Texas, Arizona, Nebraska, Iowa, Pennsylvania, South Dakota, Indiana, Utah, Minnesota, California, and Wisconsin. The company was founded in 1913 and is headquartered in Kansas City, Missouri.

History

In 1919, W.T. Kemper and Associates bought shares in City Center Bank, and R. Crosby Kemper became the president of the company. In 1926, the bank built a six-story headquarters, adding a drive-up service window in 1928. 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. became president of the bank and led the installation of its first computer processing system. City National acquired several other banks over the years as banking laws changed. In 1969, it reorganized as a holding company, Missouri Bancshares, which changed its name to United Missouri Bancshares in 1971.In 1987, UMB acquired FCB Corp. and its three banks in Southern Illinois. In 1992, UMB expanded into 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. To reflect its expansion outside of Missouri, UMB changed its name to the current UMB Financial Corporation in 1994. In 1995, UMB acquired Oklahoma Bank and its holding company, First Sooner Bancshares. That same year, UMB entered the online banking market in conjunction with Visa Interactive.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. In 2001 UMB also established Scout Investment Advisors Inc.In February 2002, the UMB acquired naming rights to St. Louis' Riverport Amphitheatre and renamed it UMB Bank Pavilion. This agreement expired in 2006, after which Verizon Wireless purchased naming rights. In 2004, Peter deSilva became the president and Mariner Kemper became chairman and CEO of UMB Financial Corporation.In June 2015, UMB acquired Marquette Financial Companies, which expanded its operations into the U.S states of Minnesota, Texas and Arizona.As of December 2019, UMB has 91 branches located across eight U.S. states: Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas.


Mission
With our position of trust and our tradition of integrity, our shared mission is to know our customers and anticipate their needs; advocate and advise; innovate and surprise.

Vision
To be the financial services provider of choice, delivering superior solutions, service, and value driving profitable growth. To be an employer of choice, attracting and retaining talent, and providing an enjoyable and rewarding experience.

Key Team

Mr. James D. Rine (Vice Chairman)

Mr. James H. Cornelius (Pres of Institutional Banking of UMB Bank n.a.)

Mr. David Carl Odgers (Sr. VP, Chief Accounting Officer & Controller)

Ms. Uma Wilson (Exec. VP, Chief Information & Product Officer)

Ms. Kay Gregory (Director of Investor Relations & Sr. VP)

Ms. Amy Harris (Exec. VP & Chief Legal Officer)

Ms. Heather Kemper Miller (Exec. VP of Sales, Marketing & Communication)


Recognition and Awards
UMB Financial Corporation has been consistently recognized as one of the best managed and most respected financial services companies in the United States. The company earned numerous awards in recent years, including the following: Forbes Best Banks in America 2020 - ranked #19; JD Power Commercial Banking Satisfaction Study 2019 - ranked #1 in Midwest region; FDIC Outstanding Financial Performance 2018 award; Fitch Ratings AAA Stable rating 2018; Ethisphere World's Most Ethical Companies 2018 – 15th consecutive year.

References
UMB Financial
Leadership team

Mr. J. Mariner Kemper (Chairman, Pres & CEO)

Mr. Ram Shankar (Exec. VP & CFO)

Ms. Shannon Andresen Johnson (Exec. VP & Chief Admin. Officer)

Products/ Services
Financial Services
Number of Employees
1,000 - 20,000
Headquarters
Kansas City, Missouri, United States
Established
1913
Company Registration
SEC CIK number: 0000101382
Net Income
500M - 1B
Revenue
Above - 1B
Traded as
UMBF
Social Media
Wed Feb 28 2024
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