Welcome to our dedicated page for Umb Financial news (Ticker: UMBF), a resource for investors and traders seeking the latest updates and insights on Umb Financial stock.
UMB Financial Corporation (NASDAQ: UMBF) delivers comprehensive financial services through its banking, wealth management, and specialized advisory divisions. This news hub provides investors and professionals with centralized access to official announcements and market-moving developments.
Key resources include quarterly earnings reports, strategic partnership announcements, leadership updates, and regulatory filings. Users will find detailed coverage of UMBF's regional banking operations, asset management initiatives, and innovations in health spending solutions.
Bookmark this page for real-time updates on financial performance metrics, dividend declarations, and corporate responsibility initiatives. Our curated news feed ensures you never miss critical developments affecting this Midwest-focused financial institution's market position.
UMB Financial (NASDAQ:UMBF) announced the pricing of an underwritten public offering of 2,800,000 shares of common stock at $75.00 per share, expected to generate approximately $201.6 million in net proceeds. The offering is set to close on May 1, 2024, with an option for the underwriters to purchase an additional 420,000 shares. UMB entered into a forward sale agreement with BofA Securities, with plans to physically settle the agreement in approximately 18 months. The proceeds will be used for general corporate purposes, including contributing Tier 1 capital into UMB Bank.
UMB Financial (Nasdaq: UMBF) has announced the acquisition of Heartland Financial USA, Inc. (Nasdaq: HTLF) in an all-stock transaction valued at $2.0 billion. This will increase UMB's total assets by more than 40% and expand its geographic footprint across 13 states. The deal, the largest in UMB's history, will create a regional banking powerhouse with $64.5 billion in assets, elevating it to the top 5% of publicly traded banks in the U.S. The transaction is expected to close in the first quarter of 2025.
UMB Financial reported first quarter 2024 net income of $110.3 million and net operating income of $120.7 million. Key highlights include GAAP net income of $110.3 million, average loans increased by 4.2% on a linked-quarter basis to $23.4 billion, average deposits increased by 10.4% to $33.5 billion, and noninterest income increased by 22.3% from the first quarter of 2023. Credit quality remained strong with net charge-offs at 0.05% of average loans.
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