KANSAS CITY, Mo.--(BUSINESS WIRE)--UMB Bank, N.A., a wholly-owned subsidiary of UMB Financial Corporation (NASDAQ: UMBF) is pleased to announce it has entered into a definitive agreement with RCB Bank to transition RCB’s corporate trust business to UMB Corporate Trust and Escrow Services. Clients previously associated with RCB corporate trust business are being transitioned to UMB’s Corporate Trust and Escrow Services office in Oklahoma City.
“UMB’s strong capital position enables us to continue delivering on our business strategies, which includes acquisitions in our areas of focus,” said Todd Duncan, President, Institutional Asset Management, UMB Bank. “Our consultative approach with clients is a natural fit with RCB’s client base and within the Oklahoma marketplace.”
UMB’s Corporate Trust and Escrow Services ranks nationally as the fourth largest municipal bond trustee and third largest paying agent in terms of combined transactions. UMB has been a provider of corporate trust services for more than 60 years and administers more than $66 billion in debt with more than 6,400 debt and escrow transactions.
“We look forward to serving these clients while introducing them to UMB and our Corporate Trust and Escrow Services division,” said Janet Lambert, Vice President, Corporate Trust. “Our Oklahoma City market continues to gain momentum and this acquisition provides additional opportunities for growth.”
About UMB
UMB Financial Corporation (Nasdaq: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking services, payment solutions, asset servicing and institutional investment management to customers. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas. Subsidiaries of the holding company include companies that offer services to mutual funds and alternative-investment entities and registered investment advisors that offer equity and fixed income strategies to institutions and individual investors. For more information, visit umbfinancial.com, umb.com, blog.umb.com or follow us on Twitter at @UMBBank, Facebook at facebook.com/UMBBank and LinkedIn at linkedin.com/company/umb-bank.
