UMB Financial Corporation

About UMB Financial Corporation

UMB Financial is the holding company for four UMB-branded banks serving Arizona, Colorado, Illinois, Kansas, Nebraska, Oklahoma, and Missouri. Through some 130 branches, the banks offer standard services such as checking and savings accounts, credit and debit cards, and trust and investment services. Commercial loans account for more than 40% of UMB's – more... loan portfolio. Commercial real estate loans account for more than 25%. UMB Financial goes beyond the banking business. Its diversified portfolio includes subsidiaries that offer insurance, brokerage services, leasing, treasury management, health savings accounts, and proprietary mutual funds.

UMB Financial operates in three business segments: commercial financial services; institutional financial services; and personal financial services. Its institutional financial services segment (corporate trust and escrow services, and correspondent and investment banking) is the company's largest money maker (contributing more than 40% of revenues). Personal financial services (consumer banking, wealth management, private banking, and trust services) makes up about 30% of UMB Financial revenues. And commercial financial services (contributing another 30% of revenues) includes commercial banking, merchant services, commercial lending and other services.

While growing deposits and increasing its loan portfolio remains a key strategy, the company has also been keenly focused on growing its fee-based businesses. More than 50% of UMB's revenue is derived from fee income. Fees are not as dependent on fluctuating interest rates as traditional banking services.

In order to keep growing its fee-based business and diversify its business model, UMB has made several recent acquisitions. The company built up its investment advisory and corporate trust business through several 2009 acquisitions. The following year UMB made 10 acquisitions including Prairie Capital Management and Indiana-based Reams Asset Management. The deals more than doubled UMB's Scout Investment Advisors' assets under management to more than $27 billion.

Subsidiary UMB Fund Services (UMBFS) performs accounting and administration functions for mutual fund and alternative investment managers. In 2009 UMBFS bought J.D. Clark & Company, a third-party fund service provider to alternative investments firms. A year later the unit expanded its client base when it acquired the managed account business of J.P. Morgan Worldwide Securities Services. A new line of business, Managed Account Services at UMBFS, was created to service J.P. Morgan's clients.

UMB Financial also has built up its credit card portfolio through acquisitions. In 2010 UMB Bank, the company's lead bank, bought the credit card portfolio of 5Star Bank, which provides banking services to members of the armed forces. The deal included $66 million in assets. That same year UMB Bank acquired CardPartner, a firm that first teamed with UMB to offer credit cards for organizations and non-profits.

The family of chairman and CEO Mariner Kemper controls about 14% of UMB Financial's stock.

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