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UMB Big Bash® does it again!

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UMB Big Bash 2016

Pat Benatar and Neil Giraldo treated us to acoustic versions of their big hits.

Our 6th UMB Big Bash took place last week in downtown Kansas City. Thanks to our incredible sponsors and supporters like you, the UMB Big Bash Foundation donated $25,000 to Community LINC. Throughout the course of two years, the organization will receive a total of $75,000 in grants to support its Aftercare Expansion. Watch how this year’s beneficiary plans to use UMB Big Bash funds.

Let’s revisit some highlights from the BIG event:

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Beneficiary

Community LINC’s Aftercare Expansion project will expand the organization’s one-on-one budgeting support and employment aftercare to approximately 250 homeless parents. Community LINC’s mission is to end homelessness, impact poverty and remove barriers to self-sufficiency for families.
UMB Big Bash 2016Giving and receiving the BIG checks are: Mariner Kemper (chairman and CEO of UMB Financial Corporation and UMB Bank), Jackie Hunter (Community LINC board member and former resident), Brad Korris (Community LINC board chair), Mike Hagedorn (President and CEO of UMB Bank)

Silent Auction
UMB Big Bash 2016 UMB Big Bash 2016
VIP meet and greet with Pat Benatar and Neil Giraldo
UMB Big Bash 2016
Be sure to post your own UMB Big Bash photos to the  Facebook page and tag yourself in our photos of YOU!

bb2016_rush17

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


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, as well as two national specialty-lending businesses. 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.



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Community LINC’s impact – UMB Big Bash® 2016

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Did you know the majority of homeless people in Kansas City are children?

The sixth annual UMB Big Bash is this week. Not only are we getting excited to see the legendary Pat Benatar and Neil Giraldo perform (you can still grab your tickets!), but also to focus on assisting this year’s worthy beneficiary.

Throughout the course of two years, Community LINC will receive $75,000 in grants to support its Aftercare Expansion. The project will expand the organization’s one-on-one budgeting support and will provide ongoing employment aftercare to approximately 250 homeless parents. Community LINC’s mission is to end homelessness, impact poverty and remove barriers to self-sufficiency for families.

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When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.

 


Mr. Hagedorn is president and chief executive officer of UMB Bank and vice chairman of UMB Financial Corporation. Prior to this role, Hagedorn served as chief financial officer and chief administrative officer of UMB Financial Corporation. He joined UMB in March 2005.



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Meet the Leadership Series: DiAne Reed (Marquette Transportation Finance)

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Q&A with DiAne Reed, Senior Vice President/National Sales Manager, Marquette Transportation Finance

Get to know UMB’s leadership a little better.

DiAne Reed MTF

Tell us about yourself.

I am originally from the Northwest, but when I moved to Charlotte, N.C. in 1989 I fell in love with the sunshine and fewer rainy days. I enjoy traveling—my favorite place is anywhere I can unplug and just live in the moment. I have been all over the world on 14 different cruises. I also enjoy spending time with my five grandchildren.

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DiAne Reed grandkids DiAne Reed grandkids

My work is my passion. Every day, I work to do what’s best for our clients and I love being able to provide the right financing solution for each business. I joined Marquette Transportation Finance (MTF)in 2002 and assumed my duties as senior vice president, national sales manager in 2005. I am responsible for the overall marketing and sales activities of the company and I have more than 30 years of finance sales and sales management experience.

What drew you to the transportation industry?

A national trucking company gave me an opportunity to learn the trucking industry inside and out. I started in dispatch, moved to production and then switched to sales and marketing. I was active in launching that company’s 48 State Interstate Authority—expanding their presence coast to coast. They encouraged everyone to know all aspects of the business, so I was able to roll up my sleeves and embrace the trucking industry. From there, I advanced into the niche of transportation finance which I have been committed to for more than 25 years.

Today the financial needs of the trucking industry are my passion. I always say I have diesel in my blood!

How has the industry changed since you began your career?

When I began my career, everything was in paper form—now companies have high-tech operations, including computerized logs. Now, shippers and carriers know the exact location of their freight, 24/7. Technology has also allowed for improved focus on security and safety, offering higher protection for both truck drivers and the people they share the road with.

I also see more women interested in entering the trucking industry every day. When I started in the industry, 1 in 100 employees were women, but within the last decade women are working to break the glass ceiling and are not afraid to enter fields known to be male-dominated, like trucking and finance.

Another aspect of trucking that has changed is the availability of working capital. The recent credit crunch affecting financial markets is filtering its way down to the availability of working capital financing to trucking companies. In response to financial turmoil, bank are tightening their credit standards and becoming more restrictive. Fortunately for trucking companies, alternative sources of financing, such as MTF, exist in the marketplace.

What are your transportation affiliations, and why are these connections important?

I’m actively involved in many associations including the American Trucking Association (ATA) , the Truckload Carriers Association (TCA), Women In Trucking (WIT), Commercial Finance Association (CFA), Turnaround Management Association (TMA) and the International Factoring Association (IFA). I am also a participant of the TCA communications and image committee.

These associations allow members to stay abreast of industry changes and challenges. And, they offer me a platform to participate in and encourage the continuing improvement of the transportation brand. Interacting with dedicated people in the industry is always inspiring. With the networking opportunities, I can discuss MTF and our values, as well as communicate the way we do business by partnering with clients from start to finish. We are a relationship-based business and we put a lot of emphasis on integrity and ethics.

Define accounts receivable (AR) financing

The most important thing to know about AR financing is that it is not debt. MTF funds and purchases AR accounts, which means we provide financing based on your current level of business. An AR line is assessed on several criteria:

  • The monthly dollar volume of purchases
  • The average AR turn (how long an invoice remains outstanding)
  • The number of invoices processed by MTF on a monthly basis
  • Risk associated with the transaction

The key difference between AR financing and traditional financing is that we don’t base our decisions on the credit or financial stability of our client. Rather, we base our decisions on the financial stability of our client’s customer base.

What makes Marquette Transportation Finance unique?

MTF is a leading provider of accounts receivable financing focused solely on the trucking industry. Our financing helps trucking companies fund growth, acquisitions and turnarounds, and helps them improve liquidity. A major advantage of lending to a niche market is the opportunity to completely understand the business, from invoicing requirements and cash cycles, to reasons for periodic over-advance requests, and current news and trends. Knowing your client’s business helps foster a strong relationship, and our entire business model is built on relationships.

The MTF team knows the trucking industry and can tailor a program to you and your business. We like to say that we offer the best of both worlds because we are backed by the financial strength of UMB Bank, but are small enough to provide you with a highly responsive, flexible and knowledgeable service staff who can handle any of your specific needs.

Describe your typical client—what do they need, why are they looking for alternative financing and why do they consider MTF?

Typically MTF clients aren’t eligible for traditional bank financing, or the bank facility is deficient in meeting the borrower’s financing requirements due to one or more of the following business characteristics:

  • Start-up or rapid growth
  • Acquisition and recapitalizations
  • Needs bridge financing In the midst of a turnaround
  • Customer concentrations
  • Working capital starved
  • Negative net worth
  • Debtor-in-possession (Chapter 11)
  • Highly leveraged

Every client receives supportive accounting services to help facilitate payments and steady receivables. These services are provided by a full back office team of individuals who are familiar with the transportation world.

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.


DiAne Reed has been in the trucking industry for more than 25 years, and is active in transportation associations across the U.S. As a team member at Marquette Transportation Finance (MTF), DiAne builds relationships and individually reviews client situation to offer custom finance plans that help them grow.



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Meet the Veterans: Shauna Bednar

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UMB is fortunate to have several veterans on our team, and we’re proud to hire veterans in our local communities. This series highlights some of our associates who have served their country in the military prior to joining UMB. Be sure to check out the other profiles in our series. In this case, we’re taking a look at an associate who currently serves in the military. 

Q&A with Shauna Bednar-Air Force Reserves, Flight Engineer
Shauna Bednar

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Tell us about yourself

I grew up in Apple Valley, Minn. (just south of Minneapolis) loving sports, lakes and airplanes. My dad worked at Northwest Airlines my entire childhood and is now with Delta Airlines, so I have always loved planes, air shows and all things aviation-related. I received my degree in Business and Airport Management from the University of North Dakota in 2006. After college, it was not a great time for aviation, and I couldn’t find a job in the field, so I got a job working in the operations department at M&I Wealth Management in Milwaukee, Wis. I loved my job there and progressed from operations to a private wealth associate administrator.

After a while, I really started to miss airplanes and the smell of jet fuel (as my dad always says). I took the leap, left my job, and joined the Air Force Reserve. I met my now husband, Grant, during training. He is a Loadmaster in the Air Force. The Air Force brought me to the great state of Colorado which is where I am today and loving it.
2 - Shauna and Grant
What about your past shaped who you are today?

I have an amazing family who has always encouraged me to try new things and to never step down from a challenge. That has absolutely shaped my personality–I am not a quitter. I am proud that I earned everything I have. My family and friends are the most important people in my life and where all my loyalty lies.

Tell us about your family.

My parents and brother still live around the Minneapolis area, and I love to visit (preferably in the summer)!  My aunt is a retired Chief in the Air Force, and she was my idol growing up. She was a beautiful blonde woman who would get dirty and fix airplanes. She was never afraid to compete with the men and always looked good doing it. She was everything I ever wanted to be: tough but still feminine.
3 - Shauna and Sonja
Why did you choose to join the military, and specifically the Air Force?

I grew up with the idea instilled in me from various family members, but really I just love airplanes and country. The Air Force was the only branch for me.

Awards Banquet

Give us some highlights of your military career.

I am a flight engineer on C130s, which means my job is to ensure that the plane is operating correctly and that all of the systems (electrical, hydraulics, engines, etc.) are operating as designed. I am also there in case something goes wrong to assist in troubleshooting the problem. I’ve taken a lot of amazing trips to different countries and all over the United States. I get to air drop jumpers and cargo and fly low level missions in the mountains. It’s absolutely beautiful to see the mountains from a perspective not many people get to see. I am proud of my deployment in 2013 and look forward to my upcoming deployment in March. I have flown patients out of combat areas in Afghanistan and Army troops on their way home from deployments. It feels pretty fantastic to see the faces of the men and women who have been on the ground fighting in the dirt for months on end when they finally get to leave…especially once the air conditioning kicks in. It gives you a great perspective.
Mountain Flying

What are the challenges with balancing your career at UMB and also being in the Air Force?

Easily the hardest part is time management. I have flying time and ground commitments that I need to meet with the Air Force, and I am not willing to let my job at UMB suffer, so working around those can be difficult. There is a lot of planning that has to go around taking time off, especially when people are planning client meetings around my schedule. I am very lucky to have an amazing team here in Denver who supports me when I need to leave early, take days off or take three months off for a deployment. They are the best co-workers I could ask for!

What are your favorite ways to give back in the community?

I am actively involved in a local organization (Denver Kids) that is working to end the drop out crisis in Denver schools through providing students with educational counselors and mentors. I currently chair the membership committee and sit on the executive board of the Young Professionals Council as well as mentor a middle school student named Sonia.

Where is your favorite place to travel?

I love anything warm and tropical. I may be from Minnesota, but I can’t do cold. I am always looking for an opportunity to go somewhere warm. I’m going to Jamaica soon and couldn’t be more excited!

What are your favorite ways to spend a weekend?

When I have a free weekend, which isn’t often as I give most of those to Air Force, I really enjoy sleeping in and going to brunch. I love to spend time with friends and family and watch the Minnesota Vikings or go to any basketball, hockey or football game. I also really enjoy musical theater, art museums and concerts.

How did you come to be at UMB? What made you want to work here?
I first heard of UMB back when I was working in Milwaukee, so I was excited to see a familiar name when applying. What I like about UMB is that it is a mid-sized bank, where we provide personalized service backed by the resources of a multi-billion dollar asset management firm. We can keep the focus where it belongs – on our clients. We know our clients and their families and they appreciate that it’s personal when they call.  It is nice to see the impact of my job on the client.

 

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.

 


Mrs. Shauna Bednar is a Private Wealth Management Officer for UMB. She is responsible for administering investment and retirement accounts and ensuring compliance with applicable regulations while providing the highest level of customer service. She joined UMB in 2012 and has eight years of experience in the financial services industry.



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Secrets to getting college scholarships

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New seniors–your final summer of high school is upon you. As you find that perfect balance between working long hours at your summer job AND fitting in plenty of relaxation and fun memories, don’t forget to prioritize getting as many college scholarships as possible. Even the most tedious application is worth it if it saves you on future student loans.

Parents and younger students (as young as kindergarten!), take notes, too.

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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, as well as two national specialty-lending businesses. 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.



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How to enhance your post-graduation financial health

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I’m entering the daunting world of post-college, graduating this month. My fellow graduates and I are entering into an improving economy, but it’s still a tough labor market. With loan debt and underemployment just two of the many major challenges facing the class of 2016, now is the best time for graduates to start establishing healthy financial habits that can guide us for a lifetime.

Being surrounded by experienced financial professionals at UMB as an intern, I thought I’d take advantage of their proximity and ask for some guidance before I begin the task of job searching and setting up my finances for lifelong success. I consulted with a few associates here to get their thoughts on how to get started.5 tips for recent college graduates

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5 tips for recent college grads - build a healthy credit scorePaying off credit card balances in a timely manner keeps your credit score healthy, putting you in a better position to make bigger purchases down the road. Also, remember to pay necessities like utilities, cable and phone bills on time, because your payment status can be factored into your credit score under the new scoring approach taken by FICO.

5 tips for recent college grads - invest wiselyIt’s never too soon to start investing. While it’s important to pay off debts, investing is vital for future financial wellness. But remember to do your research before committing to any investment. Understanding risk is vital, and it must be weighed against the long-term payoff of any investment. If you have stocks, actively tracking them can help you understand how the market works. You’re also never too young to work with an advisor who can guide your investment decisions. If you’re fortunate enough to have a job AND an employer who offers a 401(k) match, make sure you take advantage of the employer match.

5 tips for recent college grads - 50/20/30 ruleMy mentors at UMB suggest using the following formula to help you stay on budget. Take your monthly income after taxes and 401(k) contributions and prioritize spending as follows:

  • 50 percent for fixed costs like rent, utilities and monthly subscriptions.
  • 20 percent toward building a financial foundation, like house payments, paying down student loans or just investing in an emergency savings fund (more on this later).
  • 30 percent into flexible spending, which is day-to-day expenses like groceries, eating out, entertainment and gas.

5 tips for recent college grads - emergency fundMake saving up a few months’ worth of living expenses an immediate priority after graduation. Having money saved in an account is always the best safety net if any unforeseen circumstance puts you in a place with less income. Remember that your living expenses do not need to equal your take-home pay. Only look at your fixed costs (which as we previously stated should be close to 50 percent of your regular budget), not savings and contributions.

have fun on a budgetDon’t let being on a budget get in the way of living a full social life. Using coupons, going to free local events and splitting costs with friends are just a few of the many ways to ensure you are able to have fun without overspending.

The financial pros here reminded me that having a long-term frame of mind when handling finances will have the biggest and best payoff in the future. As a graduate, if you can set yourself up with healthy financial habits now, you have a better chance of experiencing stability and wealth down the road. Come on class of 2016, we have a bright future ahead, so let’s make sure we are saving for it!

5 tips for recent college grads - sources

When you click links marked with the “‡” symbol, you will leave UMB’s website and go to websites that are not controlled by or affiliated with UMB. We have provided these links for your convenience. However, we do not endorse or guarantee any products or services you may view on other sites. Other websites may not follow the same privacy policies and security procedures that UMB does, so please review their policies and procedures carefully.

 


Mr. Nicholas Zych interned with UMB Marketing Communication, focusing on social media. He recently graduated from the University of Kansas with a degree in journalism.



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UMB: Insights – Common Questions for Wealth Advisors

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UMB Industry Insights

We’re continuing our UMB: Insights series by talking to a few of our wealth advisors about questions they hear all the time from their clients.

  • Am I going to be able to live in retirement the way I live today?
  • What kind of healthcare can I afford?
  • How can I maximize that and minimize taxes? How do I pass that on to the next generation tax-efficiently?

If you find yourself asking any of these questions, it’s probably time to meet with a wealth advisor.

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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, as well as two national specialty-lending businesses. 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.



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UMB: Insights – When to Engage a Wealth Advisor

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UMB Industry Insights

Belinda explains why you should start talking to a wealth advisor. They can help you see the big picture, set your priorities and customize your plans accordingly.

Learn more in this continuation of our UMB: Insights series.

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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, as well as two national specialty-lending businesses. 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.



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UMB thanks Kansas City!

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UMB thanks KC

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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, as well as two national specialty-lending businesses. 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.



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Must-do car maintenance

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If you’re ever tempted to skip car maintenance, think twice. Not doing the work now could end up costing you more down the road. must-do car maintenance

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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, as well as two national specialty-lending businesses. 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.



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