UMB Bank Acquires American National Bank Corporate Trust Business
December 01 2009 - 5:23PM
Business Wire
UMB Bank , n.a., a wholly owned subsidiary of UMB Financial
Corporation (NASDAQ: UMBF), has closed a transaction with American
National Bank in Denver, Colo., to acquire and transition American
National Bank’s corporate trust business over to UMB Corporate
Trust and Escrow Services. Traditionally, American National Bank is
the premier provider of corporate trust services in Colorado.
Terms of the deal are not disclosed but the transaction consists
of more than 1,400 accounts with nearly $3 billion in assets under
administration. American National Bank’s corporate trust portfolio
will be transitioned to UMB’s Corporate Trust and Escrow Services
office in Denver.
“We have made a commitment to be the leading corporate trust
provider in the Rocky Mountain region,” said Jon Robinson, chief
executive officer of UMB Bank Colorado. “To date, our efforts in
establishing our Colorado corporate trust business have been very
successful despite the backdrop of difficult market conditions. The
acquisition cements our leadership position in Colorado and helps
establish a stronger position in the surrounding Rocky Mountain
region.”
UMB Corporate Trust and Escrow Services is currently the fourth
largest municipal bond trustee and paying agent nationally (in
terms of transactions) in the United States. UMB has been a
committed provider of corporate trust services for more than 60
years by serving the corporate and governmental financial markets
with offices in Denver, Kansas City, St. Louis, Indianapolis,
Oklahoma City and Wichita.
“We are excited about this expansion and look forward to serving
our new clients while introducing them to UMB and our Corporate
Trust and Escrow Services division,” said Todd Duncan, UMB
Corporate Trust division executive. “From a business standpoint,
this agreement fits perfectly with our growth strategies and
demonstrates UMB’s dedication and desire to serve the Rocky
Mountain corporate trust market.”
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 135
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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