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UMB FINANCIAL CORPORATION

(UMBF)
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UMB Financial : Announces Agreement to Acquire KC Metro Branch

10/12/2021 | 04:32pm EST

KANSAS CITY, Mo. (Oct. 12, 2021) - UMB Bank, n.a., a subsidiary of UMB Financial Corporation (Nasdaq: UMBF), is pleased to announce the execution of a definitive agreement to acquire an ANB Bank branch located at 15301 W. 87th Street Parkway, Lenexa, Kan.

"With this announcement, UMB demonstrates our continued commitment to serving and growing our customers in the greater Kansas City area," said president and CEO of UMB Bank Jim Rine. "This acquisition aligns with our core growth areas and complements our existing branch network, providing another convenient option for KC metro consumers and business customers."

An emphasis on delivering an efficient and service-oriented experience to existing customers is a key priority.

"The ANB Bank team has been honored to serve our Kansas City area communities and customers for nearly 30 years, and we're excited for the opportunity to align with UMB," said community bank president for ANB's Lenexa branch, Brian Roby. "This transition will provide our customers more branch banking options, and we know UMB's outstanding service will meet the level our customers deserve and have come to expect from ANB Bank."

The transaction is subject to regulatory approval and is expected to close in the first quarter of 2022.

About UMB

UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Missouri. UMB offers commercial banking, which includes comprehensive deposit, lending and investment services, personal banking, which includes wealth management and financial planning services, and institutional banking, which includes asset servicing, corporate trust solutions, investment banking, and healthcare services. UMB operates branches throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona, and Texas, and serves business and institutional clients nationwide. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn, or follow us on Twitter at @UMBBank. For information about UMB's operations, approach and relief measures during the COVID-19 pandemic, please visit umb.com/COVID-19.

About ANB Bank

Across the ANB Bank (ANB) footprint, the bank has over 30 banking centers serving customers in Colorado, Wyoming, and the Kansas City metro area. Its parent company is the Sturm Financial Group, Inc., headquartered in Denver, Colo. ANB Bank has financial strength embodied in $3 billion in assets, ranks in the top 8 percent of banks nationwide by size and is a true community bank with an unwavering commitment to excellence. The bank helps each of its communities prosper through investment, sponsorship, philanthropy, and employee volunteerism. It is a passion ANB has for banking that makes the difference. For more information, visit anbbank.com.

Disclaimer

UMB Financial Corporation published this content on 12 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2021 20:31:03 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 1 292 M - -
Net income 2021 365 M - -
Net Debt 2021 - - -
P/E ratio 2021 13,4x
Yield 2021 1,36%
Capitalization 4 862 M 4 862 M -
Capi. / Sales 2021 3,76x
Capi. / Sales 2022 3,70x
Nbr of Employees 3 591
Free-Float -
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Number of Analysts 5
Last Close Price 100,53 $
Average target price 112,20 $
Spread / Average Target 11,6%
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Managers and Directors
J. Mariner Kemper Chairman, President & Chief Executive Officer
Ram Shankar Chief Financial Officer & Executive Vice President
Kevin M. Macke Executive Vice President & Operations Director
Shannon A. Johnson Chief Administrative Officer & Executive VP
Kris Alan Robbins Independent Director