Agreement extends UMB’s reach into the Oklahoma Corporate Trust
Market
KANSAS CITY, Mo.--(BUSINESS WIRE)--
UMB Bank, N.A., a wholly-owned subsidiary of UMB Financial Corporation
(NASDAQ: UMBF) is pleased to announce it has entered into a definitive
agreement with RCB Bank to transition RCB’s corporate trust business to
UMB Corporate Trust and Escrow Services. Clients previously associated
with RCB corporate trust business are being transitioned to UMB’s
Corporate Trust and Escrow Services office in Oklahoma City.
“UMB’s strong capital position enables us to continue delivering on our
business strategies, which includes acquisitions in our areas of focus,”
said Todd Duncan, President, Institutional Asset Management, UMB Bank.
“Our consultative approach with clients is a natural fit with RCB’s
client base and within the Oklahoma marketplace.”
UMB’s Corporate Trust and Escrow Services ranks nationally as the fourth
largest municipal bond trustee and third largest paying agent in terms
of combined transactions. UMB has been a provider of corporate trust
services for more than 60 years and administers more than $66 billion in
debt with more than 6,400 debt and escrow transactions.
“We look forward to serving these clients while introducing them to UMB
and our Corporate Trust and Escrow Services division,” said Janet
Lambert, Vice President, Corporate Trust. “Our Oklahoma City market
continues to gain momentum and this acquisition provides additional
opportunities for growth.”
About UMB
UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial
holding company headquartered in Kansas City, Mo., offering complete
banking services, payment solutions, asset servicing and institutional
investment management to customers. UMB operates banking and wealth
management centers throughout Missouri, Illinois, Colorado, Kansas,
Oklahoma, Nebraska, Arizona and Texas. Subsidiaries of the holding
company include companies that offer services to mutual funds and
alternative-investment entities and registered investment advisors that
offer equity and fixed income strategies to institutions and individual
investors. For more information, visit umbfinancial.com,
umb.com,
blog.umb.com
or follow us on Twitter at @UMBBank, Facebook at facebook.com/UMBBank
and LinkedIn at linkedin.com/company/umb-bank.
UMB Financial Corporation
Kelli Christman, 816.860.5088
kelli.christman@umb.com
umb.com
Source: UMB Financial Corporation