Key Developments For UMB Financial Corporation
UMB Financial Corporation (UMBF.O) (Nasdaq)
UMB Financial Corporation's UMB Healthcare Services Launches Claims Reimbursement Portal
UMB Healthcare Services, a division of UMB Financial Corporation announced that it is offering clients an integrated claims reimbursement portal, Healthcare Exchange. Healthcare Exchange enables clients to work directly with UMB for their claims and reimbursement needs. Some of the benefits of the Healthcare Exchange include an integrated claims reimbursement portal, streamlined administrative overhead and reduced operations expenses. The Healthcare Exchange allows administrators to originate Automated Clearing House (ACH) transactions, mail a check and/or distribute an explanation of benefits (EOB) directly with a financial institution.
UMB Financial Corporation Announces 5.7% Increase Of Quarterly Cash Dividend
UMB Financial Corporation announced an increase in its quarterly cash dividend to $0.185 per share, payable on January 4, 2010 to shareholders of record at the close of business on December 11, 2009. This represents a 5.7% increase.
Blue Cross and Blue Shield of Kansas City Select UMB Financial Corporation's UMB Healthcare Services To Provide HSAs
UMB Healthcare Services, a division of UMB Financial Corporation announced that they were selected by Blue Cross and Blue Shield of Kansas City to provide Health Savings Accounts (HSA) to its customers.
UMB Financial Corporation's UMB Scout Insurance Services, Inc. Acquires St. Louis-based Chapman-Sander Insurance, Inc.
UMB Scout Insurance Services, Inc., an affiliate of UMB Financial Corporation, 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.
UMB Financial Corporation Repositioned As UMB Financial Corporation Subsidiary
UMB Financial Corporation announced that it is restructuring its asset management business which manages and distributes investment services to the institutional market. This move repositions Scout Investment Advisors, Inc. (SIA), as a subsidiary of the holding company rather than UMB Bank, n.a., and also creates a new subsidiary Scout Distributors, LLC to market and sell the services. The change is effective June 30, 2009. With this change, Scout Investment Advisors, Inc. will continue to manage the UMB Scout Funds and will take over management of all institutional separately managed accounts and specific large individual separately managed accounts currently overseen by UMB Bank. Additionally, the UMB Scout Mutual Fund family will now be known as 'Scout Funds', (removing UMB) but will maintain their current ticker symbols.
