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UMB Financial in Kansas City, Mo., disclosed in a regulatory filing Thursday that a client is expected to move about $1.1 billion in deposits to an unnamed depository institution in the next 120 days.
September 5 -
The Kansas City company, which started with opening-day deposits of $1,100 in 1913, now has $15.7 billion in assets and a fresh formula that is allowing it to prosper with a conservative approach to credit.
May 1 -
The CEO of UMB Financial believes the time has come to rethink branch technology, to speed service and cut costs.
May 6
UMB Financial (UMBF) in Kansas City, Mo., is planning a stock sale that could bring in as much as $257 million.
The $15 billion-asset company announced Monday that is planning a public offering of up to 3.9 million shares of its common stock. The underwriter, Bank of America Merrill Lynch, would also have the option of buying an additional 585,000 shares, it said in a news release.
The public offering would raise approximately $224 million, based on UMB's Monday closing share price of $57.34, and the underwriters' option would generate a further $34 million, if it were exercised in full.
UMB, which did not announce the offering price, said it plans to use the proceeds for general corporate purposes.
Last week, UMB disclosed that it was
