Expands Presence in Key Texas and Arizona Markets; Adds Specialty
Lending Businesses and Asset Management Firm
KANSAS CITY, Mo.--(BUSINESS WIRE)--
UMB
Financial Corporation (Nasdaq:UMBF), a $16.7 billion diversified
financial holding company, headquartered in Kansas City, Mo., has
completed the acquisition of Marquette Financial Companies (MFC), a $1.4
billion financial-services company owned by the Pohlad family, in an
all-stock transaction. With this deal, UMB has acquired 13 branches in
Arizona and Texas, two national specialty lending businesses focused on
asset-based lending and factoring as well as an asset management firm.
“This is an incredible time at UMB as we embark on a new and exciting
chapter in our company’s history,” said Mariner Kemper, chairman and
CEO, UMB Financial Corporation. “This acquisition has an immediate
impact on our presence in two key growth markets for UMB – Arizona and
Texas. In addition, the acquisition of two specialty lending businesses
and an asset management firm expands our offerings and builds upon our
existing commercial banking services through a national footprint.”
As part of this acquisition, the Phoenix-based Meridian Bank, n.a. and
the Ft. Worth-based Meridian Bank Texas were merged into UMB Bank, n.a.
The merger adds eight branches in the Phoenix area, with total assets of
$745 million, net loans of $530 million and deposits of $584 million, as
of March 31, 2015; and five branches in Ft. Worth, Dallas and Denton,
Texas, with total assets of $442 million, net loans of $321 million and
deposits of $384 million, as of March 31, 2015.
UMB also acquired Dallas-based Marquette Business Credit, which provides
asset-based loans for working capital, recapitalization, growth and
mergers and acquisitions; Marquette Transportation Finance, which
provides accounts-receivable financing and factoring primarily for
transportation businesses, and its division, Marquette Commercial
Finance; and Marquette Asset Management, which provides private asset
management to individuals, families and institutions, based in
Minneapolis, Minn.
“The realization of this acquisition benefits our customers by combining
the strength of our two companies and expands our services and product
sets,” James O. Pohlad, chairman, Marquette Financial Companies. “We are
pleased to continue our enduring commitment to serving our customers and
the communities where we do business.”
RBC Capital Markets, LLC served as exclusive financial adviser to UMB.
Sullivan & Cromwell and Holland & Hart served as legal counsel to UMB.
D.A. Davidson served as exclusive financial adviser to MFC. Briggs and
Morgan served as legal counsel to MFC.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150601005401/en/
Media:
Kelli Christman, 816-916-3240
Kelli.Christman@umb.com
or
Investor
Relations:
Abby Wendel, 816-860-1685
Abigail.Wendel@umb.com
Source: UMB Financial Corporation