UMB Financial’s Stability Confirmed by Industry Resources
March 19 2009 - 12:55PM
Business Wire
UMB Financial Corporation (NASDAQ: UMBF) has been recognized for
its strength and stability by Moody�s Investors Service and Bank
Director magazine.
Moody�s recently announced its review of U.S. regional bank
financial strength ratings (BFSR) and affirmed UMB Financial as
�stable.� Moody�s assigns a stable rating to �those institutions
that can absorb a level of stress beyond Moody�s expected loss
assumptions and remain appropriately capitalized at their current
rating level.� Moody�s rating actions can be divided into three
broad categories: banks placed on review for possible downgrade;
banks with an outlook changed to negative; and, banks affirmed with
a stable outlook.
�We have always stated this company is built for the long term,
because ultimately that is what customers want � a stable financial
partner they can confidently trust as a steward of their money,�
said UMB Chairman and Chief Executive Officer Mariner Kemper. �To
maintain a stable rating, particularly in this environment,
confirms UMB�s approach to the banking business is a sound
one.�
Bank Director�s announcement of �The Top 150 Performers� placed
UMB at No. 15 overall, including a high ranking of No. 7 in
non-performing assets. Measurement analysis of profitability,
capital adequacy and asset quality was compiled by Sandler O�Neill
& Partners of the nation�s largest 150 banks and thrifts with
assets of more than $3 billion. In highlighting America�s best
banks, the magazine�s report states �� the scorecard features
institutions that maintain top standing in good times and bad �
often with recurring high scorers.�
About UMB:
UMB Financial Corporation (NASDAQ: UMBF) is a financial services
holding company headquartered in Kansas City, Missouri, offering
complete banking, asset management, health spending solutions and
related financial services to both individual and business
customers nationwide. Its banking subsidiaries own and operate 138
banking centers throughout Missouri, Illinois, Colorado, Kansas,
Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company
and the lead bank, UMB Bank, n.a., include a fund services group
based in Milwaukee, Wisconsin, single-purpose companies that deal
with brokerage services and insurance, and a registered investment
advisor that manages the company�s proprietary mutual funds.
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