Consumer banking

UMB Prices Offering at $54 Per Share

By Chris Cumming September 11, 2013, 2:40 p.m. EDT 1 Min Read

Community banking

UMB Could Raise $257 Million in Stock Sale

UMB Financial (UMBF) in Kansas City, Mo., is planning a stock sale that could bring in as much as $257 million.

By Chris Cumming

September 9
Community banking

UMB in Missouri Reports Higher Earnings on Increased Fee Income

Asset management fees helped push UMB Financial in Kansas City, Mo., to a higher quarterly profit.

By Chris Cumming

July 24

UMB Financial (UMBF) seeks to raise up to $242.2 million next week from a common stock offering that priced Tuesday.

The Kansas City, Mo., company will offer 3.9 million shares to the public at $54 a share, a slight discount to its Tuesday closing share price of $55.37, it announced. The underwriters, Bank of America's (BAC) Merrill Lynch unit and Wells Fargo (WFC), will have the option of buying a further 585,000 shares.

The $15 billion-asset UMB expects the sale to close on Monday. It plans to use the proceeds for general corporate purposes.

UMB disclosed last week that it is losing its largest deposit customer, which holds $1.1 billion with the bank.

Its shares were trading at $53.79 midafternoon Wednesday.

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