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) is a financial services company headquartered in Kansas City, Missouri, operating in the commercial banking industry. The UMBF news feed on Stock Titan aggregates company announcements, earnings releases and other public disclosures that describe how the business is performing and evolving across its commercial, personal and institutional banking lines.
In its news releases, UMB regularly reports quarterly and year-to-date financial results, including net income available to common shareholders, net interest income, noninterest income, net interest margin, efficiency ratio and loan and deposit trends. These updates often explain how factors such as organic growth, changes in earning assets and the impact of acquisitions contribute to the company’s performance.
UMB’s news also covers strategic actions and corporate developments. Recent items include the completion of the acquisition of Heartland Financial USA, Inc., the subsequent systems and brand conversion of the acquired banks to UMB platforms, and the expansion of UMB’s branch footprint from eight to 13 states. Other releases highlight activities such as the acquisition of Health Savings Accounts and related deposits by UMB Healthcare Services and investment gains from portfolio companies like Voyager Technologies, Inc.
Investors can use the UMBF news page to review dividend declarations on common and preferred stock, details of investor conference calls, and commentary from management on business conditions and strategy. For those following commercial banking and regional financial institutions, this news stream provides a consolidated view of UMB’s public communications and the factors influencing its operations and financial results over time.
ACA Group, a leader in governance, risk, and compliance solutions, announced plans to acquire UMB Distribution Services, a unit of UMB Financial (Nasdaq: UMBF). Expected to close in Q4 2024, this acquisition will add over $48 billion in client assets to ACA's portfolio, expanding ACA Foreside's distribution leadership, which currently services $2 trillion in assets. The acquisition will enhance ACA's service offerings with a comprehensive suite of compliance and technology solutions. Financial terms were not disclosed.
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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