Company Release – 05/14/2015 17:45
KANSAS CITY, Mo.–(BUSINESS WIRE)– UMB Financial Corporation (Nasdaq: UMBF) announced today that its applications to acquire and merge with Marquette Financial Companies and to merge Meridian Bank, n.a. and Meridian Bank Texas into UMB Bank, n.a. have been approved by the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency. The transactions are expected to close on May 31, 2015.
Upon closing, UMB will acquire Marquette Financial Companies’ portfolio of financial services businesses, including two banks with 13 branches in Arizona and Texas, two national commercial specialty-lending businesses focused on asset-based lending and factoring as well as an asset-management firm.
“We are pleased to receive the necessary approvals to complete this transaction and look forward to welcoming Marquette to the UMB family,” said Mariner Kemper, chairman and CEO of UMB Financial Corporation. “The most successful acquisitions result when complementary cultures and values are brought together. That’s why we are excited about the opportunities for success this merger creates for our company and our valued customers.”