Profile: UMB Financial Corp (UMBF.O)
UMB Financial Corporation, incorporated on June 13, 1967, is a diversified financial holding company. Together with its subsidiaries, the Company supplies banking services, institutional investment management, asset servicing, and payment solutions to its customers in the United States and around the globe. The Company’s national bank, UMB Bank, National Association (the Bank), has its principal office in Missouri and also has branches in Arizona, Colorado, Illinois, Kansas, Nebraska, Oklahoma, and Texas. The Bank offers a full complement of banking services to commercial, retail, government, and correspondent-bank customers, including a range of asset-management, trust, bank-card, and cash-management services. Its products and services operate in four segments: Bank, Institutional Investment Management, Asset Servicing, and Payment Solutions. Its nonbank subsidiaries include Scout Investments, Inc. (Scout) and UMB Fund Services, Inc. (UMBFS).
Payment Solutions provides consumer and commercial credit and debit card, prepaid debit card solutions, healthcare services, and institutional cash management. Healthcare services include health savings account and flexible savings account products for healthcare providers, third-party administrators and large employers. Institutional Investment Management provides equity and fixed income investment strategies in the intermediary and institutional markets via mutual funds, traditional separate accounts and sub-advisory relationships. Asset Servicing provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts. Services include fund administration, fund accounting, investor services, transfer agency, distribution, marketing, custody, alternative investment services, managed account services, and collective and multiple-series trust services.
Loans are classified by the portfolio segments of commercial, real estate, consumer, and leases. The portfolio segments are further disaggregated into the loan classes of commercial, commercial credit card, real estate-construction, real estate-commercial, real estate-residential, real estate-HELOC, consumer-credit card, consumer-other, and leases.
Sources of Funds
Deposits represent the Company’s primary funding source for its asset base. In addition to the core deposits garnered by the Company’s retail branch structure, the Company continues to focus on its cash management services, as well as its asset management and mutual fund servicing segments. Deposits totaled $13.6 billion, as of December 31, 2013. The Company’s large commercial customer base provides a source of noninterest-bearing deposits. It had two fixed-rate advances, as of December 31, 2013, from the Federal Home Loan Banks. All of the Federal Home Loan Bank notes are secured by investment securities of the Company.
Debt securities available for sale principally include the United States Treasury and agency securities, mortgage-backed securities, certain securities of state and political subdivisions, and corporates. The Company classifies certain securities of state and political subdivisions as held to maturity.
UMB Financial Corp
1010 GRAND AVE
KANSAS CITY MO 64106