UMB Acquires St. Louis-based Chapman-Sander Insurance, Inc.

UMB Scout Insurance Services, Inc., an affiliate of UMB Financial Corporation (NASDAQ: UMBF), has signed a definitive agreement to purchase the assets of Chapman-Sander, an independently-owned insurance agency in St. Louis, Mo., in an all-cash deal. Details of the transaction are not disclosed.

The agency will operate as an office of UMB Scout Insurance Services and will retain the Chapman-Sander name. Ron Burlison will remain in his role as president of Chapman-Sander, reporting to Roger Forystek, president of UMB Scout Insurance.

“This is UMB’s first acquisition of an independent insurance agency. Although UMB has offered insurance products for some time, this indicates UMB’s focus on building a full range of insurance services which includes the property and casualty side of insurance,” said Forystek, president, UMB Scout Insurance Services. “Insurance is a natural extension of UMB’s relationships in other lines of business and fits with our strategy of building a diverse financial services business model.”

Chapman-Sander employs about 20 associates who are expected to be retained.

“Chapman-Sander customers and associates will benefit from the security and strength of a healthy corporate parent like UMB,” said Burlison, president, Chapman-Sander. “Our clients will have additional insurance choices and resources through UMB, and this provides us with the opportunity to expand and enhance our customers’ experience. I am pleased that we also have a strong cultural fit, making this a plausible business combination.”

About UMB:

UMB Financial Corporation (NASDAQ: UMBF) is a financial services holding company headquartered in Kansas City, Mo., 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 136 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 mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company’s proprietary mutual funds and investment advisory accounts for institutional customers. Visit umb.com for more company information.

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