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.
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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 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.
In 1987, UMB acquired FCB Corp. and its three banks in Southern Illinois. In 1992, UMB stepped 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. 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.
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.
In December 2014, UMB agreed to acquire Marquette Financial Companies, which expanded its operations into the U.S states of Texas and Arizona.
Lines of business
- Accounts Receivable Financing
- Commercial Banking & Lending
- Consumer & Small Business Banking
- Healthcare Services: Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA)
- Investment & Wealth Management
- Transportation Finance
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.
Recognition
- Ranked bank number 2 in the nation by Forbes (2009)
- Entered Congressional Record for excellent performance during the financial crisis (2010)
Source of the article : Wikipedia
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