UMB Financial Corporation is an American financial services holding company founded in 1913 as City Center Bank and based in Kansas City, Missouri. It offers complete banking, payment solutions, asset servicing and institutional investment management to customers.
In 2015, for the sixth straight year, UMB ranked as one of America's Best Banks by Forbes and SNL Financial, based on eight financial measures of asset quality, capital adequacy and profitability. UMB operates banking and wealth management centers in Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas.
Video UMB Financial Corporation
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. (a third generation banker from the Kemper family) 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 (UMB) 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 released its first online banking solution in conjunction with Visa Interactive.
In 2001, Sunstone Financial Group Inc., which changed its name to UMB Fund Services], Inc. and in 2002 it closed on the 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 would expire in 2006, at which point it became Verizon Wireless Amphitheater. 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 Texas and Arizona.
Maps UMB Financial Corporation
Lines of business
- Accounts Receivable Financing
- Commercial Banking and Lending
- Healthcare Services: Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA)
- Institutional Banking and Lending
- Personal Banking: Private Wealth Management and Consumer Banking
- Small Business Banking
- Transportation Finance
Subsidiaries
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)
References
External links
- UMB Bank website
- Reuters profile
- The Kemper Timeline
Source of article : Wikipedia
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