UMB Financial (UMBF) has received regulatory approvals from the OCC and Federal Reserve to acquire Heartland Financial USA (HTLF), following shareholder approvals from both companies. The acquisition is expected to close around January 31, 2025. Post-acquisition, UMB will have approximately US$66 billion in assets, positioning it in the top 4 per cent of publicly traded US banks. The transaction will increase UMB's private wealth management AUM/AUA by 31 per cent and nearly double its retail deposit base, while expanding its presence from 8 to 13 states. Five HTLF board members...
By Natalie Alms, David DiMolfetta and Alexandra Kelley The eleventh-hour cybersecurity executive action asks agencies to rethink software procurement, supply...