Blog   Tagged ‘leadership’

Meet the Leadership Series: Tony Mayfield, Chairman & CEO of Greater Missouri

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Q&A with Tony Mayfield

Get to know UMB Bank’s leadership a little better. Tony Mayfield joined UMB in 2005 and was recently promoted to UMB Bank Chairman & CEO of Greater Missouri.

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What about your past shaped who you are today?

I grew up in a blue collar family in Jefferson City, Mo., that, at times, struggled to make ends meet.  I decided early on that I would work hard in everything I did in order to take a different path.  I was the first and only person in my family, which included four sons, to go to college (William Jewell) and the only person in my extended family to earn a master’s degree (at the University of Missouri).  I started athletics when I was in 6th grade and eventually earned a college scholarship as a track and cross country athlete.  Those experiences taught me that by leveraging hard work, integrity, discipline and tenacity, you can shape your future.

Why did you choose UMB?

I knew the bank had a great history in Kansas City. However, it was ultimately an article about the new leadership (new at the time, nine years ago) that caught my attention.  My recruiter wanted me to see the changes at UMB, and he sent me articles about Mariner Kemper. The one that impressed me was an article about Mariner bringing his children to an annual shareholders’ meeting.  I loved his approach to leadership that reaffirmed that we are professionals but our family is a key factor that should not be overlooked as a vital part of our success. I have two daughters with my wife, Cori, of 20 years, so family is essential to me.

What makes a regional bank chairman/CEO great?

My ultimate goal is to be the type of leader that allows people around me the space to communicate their thoughts, ideas and passions and to take the time to really listen and therefore to really care.

I am striving to become an expert listener.

For anyone that knows me, they would say that I have made progress in this area but still have a very long way to go. I sincerely believe that authentically listening and placing your whole attention on someone (spouse, child, co-worker, etc) is vital to really affirming the other persons’ value as a human being.  When you give someone your undivided attention you are really saying “I care about you and what is important to you.”

What is the greatest challenge facing the financial industry going into 2015?

Regulatory pressure.  While I do see the value to protecting consumers and businesses from unfair practices, I also think that best practice organizations like UMB get painted with the same brush as those that don’t share the same values.

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

I am involved at the University of Missouri Crosby MBA School. I graduated from there in 1994, and it has been great to give back through sitting on their advisory board. I am the past president (2012) and have taught an annual seminar, MBA Life Skills 101, for the past three years. I have participated in being a panelist, mentor, and have an opportunity to work with the Trulaske School of Business (undergrad) as well.

My wife and I have been very involved in Rainbow House, a domestic violence crisis shelter, and the Food Bank of Central Missouri.

Where is your favorite place to travel? Why?

We love to go to the northeast during fall foliage season.  We love the coast of Maine (my wife has seen every lighthouse from Massachusetts to the Canadian border), the White Mountains of New Hampshire, or anywhere in Vermont.

My wife and I have been there 9 times in our 25 years together.  She spent a year in Gloucester, Mass. right out of college and I went to visit her and fell in love with that part of the country. There are so many historical places, and of course the foliage is breathtaking in late September and early October.

What are your favorite ways to spend a weekend?

I love to spend time with my family.  My kids are great ages (14 and 10). On any given weekend morning, we might make breakfast and have it on the deck and read the newspaper for an hour or two. We also enjoy going to the pool, riding bikes, playing golf, riding horses, yard work or going shopping. We usually then cap off the day with grilling on the deck and spend some time around the fire pit after dark. In the winters, we enjoy board games, playing team air hockey or ping pong, watching movies, reading or playing in the snow together.


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. Mayfield is a regional CEO for UMB for Greater Missouri. He is responsible for strategic leadership of the region and partnering with teams in various communities throughout Missouri. He joined UMB in 2005 and has 24 years of experience in the financial services industry. Tony is passionate about building relationships and developing associates to help them maximize their potential and success at UMB.

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Meet the Leadership Series: John Wilson, Springfield Community Bank President

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Q&A with John Wilson

Get to know our leaders a little better. John Wilson joined UMB in 2012 and was recently promoted to community bank president for UMB Bank in Springfield.
What about your past shaped who you are today?

I grew up in Tucson, Arizona. I graduated from Northern Arizona University and also the Pacific Coast Banking School in Seattle. My first job was as a teller in Tucson for what became Wells Fargo Bank.  We have moved several times during my career, each time for a better professional opportunity.  A promotional opportunity arose 10 years ago so we moved from Washington to Springfield, near where my parents were born and raised.

I have found that being mobile has lead to better career advancement and a number of different life experiences.  We have lived in five cities including Tucson, Flagstaff, Seattle, Yakima and now Springfield.

What makes a community bank president great?

A community bank president must be a coach, motivator, mentor and a subject matter expert for his/her team and support staff.  This person also has to be highly visible and highly respected in the community.

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What is the greatest challenge for community banks going into 2015? 

Pressure on net interest margin combined with the rising costs associated with complying with regulations is a huge challenge for all banks, particularly smaller community banks.  In the case of UMB, I think our expansion/investment in select markets using an efficient infrastructure will benefit us.

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

As bankers we tend to having working knowledge of many industries, therefore I think we make good board members. I enjoy the diversity of thought and opinions that I experience while serving on a non-profit board or being a volunteer. It allows me to broaden my horizons and grow as a person. I advise my team to volunteer and tell them it will help their professional career in many ways.

Tell us about your family

I met my wife Gwen in college and am proud to say that we recently celebrated our 40th anniversary. We have two sons–one is a physical therapist who lives in western Montana, and the other is in industrial lighting sales and lives in Seattle.  We recently found out we will be grandparents early in 2015!

Where are your favorite places to travel?

Anywhere there is a beach or golf course or some type of adventure.  Several years ago, we spent a week floating down the Grand Canyon.  It was a fabulous experience.

What are your favorite ways to spend a weekend?

My wife and I play a lot of golf together on weekends.  We also snow ski although that is a little harder to do in Missouri!

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. Wilson is a Community Bank President for UMB in Springfield, MO. He is responsible for UMB’s Springfield commercial lending office. He joined UMB in 2012 and has 35 years of experience in the financial services industry.

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Connecting: one of the keys to centered leadership

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UMB’s Dana Abraham spoke to the Saint Louis University Cook School of Business this week. Here is an excerpt from her talk.


The leadership model is advancing, and evolving into a better place than ever before.

What began as a specific push for progress among women in leadership roles spurred the study1 that formed “Centered Leadership” – a model that has served successful professionals around the globe. Common themes appeared in this study, and the data was later validated by a survey of 2,500 executives.

They called the resulting model centered leadership. It’s about having a well of physical, intellectual, emotional and spiritual strength that drives personal achievement, and in turn inspires others to follow.

One of the elements to this model is connecting.

Connecting: Identify who can help you grow, build stronger relationships and increase your sense of belonging.

People with strong networks and good mentors enjoy more promotions, higher pay and greater career satisfaction.

One thing that differentiates a leader from a manager is the leader’s ability to figure out where to go to get things done. In order to get things done, you need three types of essential networks.

1)     Work Resource – The people in this network assist you with projects and give you access to information and ideas.

2)     Personal Support: These are your personal counselors, your friends. They provide a safe place to vent.

3)     Career Support: These include your mentors, coaches and sponsors.

HOW to network –

  • First of all, don’t start with an actual networking event. Instead, work on meaningful encounters with others. For example, getting to know people by working with them on a committee or taking part in a shared interest.
  • Remember to give, not just take. Effective networks are earned. There is a need for reciprocity when people receive—they feel obligated to reciprocate. Focus on the value you add to others and what you bring to these relationships. Do you have expertise, a point of view from another generation, information, referrals?
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When I first joined UMB, I tried to connect with our largest and most profitable commercial banking clients. I needed to prove myself to these business partners. I laid out my service model, but didn’t have any referrals. It wasn’t until I first referred business to them that they saw the value I could bring. Today, commercial bankers are my leading sources of new business.

It’s also important to take a long-term approach. Build relationships before you need them so you can save time in the future.

What’s the difference between a mentor and a sponsor?

Mentorship is important to our personal development, but sponsorship will help us break through. A sponsor is willing to go beyond the role of mentor to stick out his/her own neck to create an opportunity for a protégée.

A mentor dispenses wisdom, while a sponsor gets involved. Sponsors believe in you, but mentors don’t always go that far.

I have been fortunate to have sponsors. My direct supervisor has put my name into the hat several times and has an interest in my personal development. I also have peers from other lines of business who I would view as sponsors—people who would recommend me for a project or development opportunity.

Networks are about reaching out, showing interest in another person, and offering help – a true key to professional growth. Authenticity matters, so develop an approach that fits your personality and style.


1 – A study was launched by McKinsey and Company to determine what drives and sustains successful female leaders – this was done to help younger women navigate the paths to leadership to learn how organizations could get the best out of this group of talented associates. This work was lead and later published by Joanna Barsh, Suzie Cranston and Geoffery Lewis. They interviewed 85 successful women from across the globe and in diverse fields.

Dana Abraham is president of the Private Wealth Management Division and is responsible for the delivery of comprehensive financial services to high-net-worth clients. Her areas of focus include Wealth Planning, Private Banking, Personal Trust, Investment Management and Insurance. She joined UMB in 2005 and has more than 20 years of experience in the financial services industry. Abraham earned a bachelor’s degree in business administration with a concentration in both accounting and economics from the University of Louisiana. She is a graduate of Leadership Overland Park and Kansas City Tomorrow Leadership programs.

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Meet the Leadership Series: Begonya Klumb, UMBFC Executive VP and Chief Strategy Officer

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Q&A with Begonya Klumb

Begonya Klumb is one of the most influential women in Kansas City, and that’s not just our opinion at UMB. This is KC magazine recently named her as one of their honorees. Read more to find out how she feels about this honor, growing up in Spain and her passion for business.
Klumb family 1

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How does it feel to be named one of Kansas City’s Most Influential Women?

I’m flattered, of course, and it raises the bar for me because I want to live up to expectations.

What’s your favorite accomplishment in your 11 years at UMB?

When I was head of Mergers and Acquisitions, we completed 20 acquisitions in 3 ½ years. It’s what I was in charge of doing, and I believe it made a difference in the company. That’s a very satisfying feeling of accomplishment.

What inspired you growing up and what led you to where you are today?

I was raised in a comfortable and very happy home in Spain, where my parents live. I am blessed to come from a very close-knit and supportive family.

My maternal grandmother was an important influence on me. She built the family business, a shoe manufacturing and export company. She was extremely business-minded, and had a strong personality. Until her last days, people in town called her “la Jefa,” “the Boss!”  I admired her deeply and she is why I studied economics and business.

How did you end up in the United States?

After college, I got an Erasmus scholarship to do graduate work in Germany and England. It was an exciting time around the European Union, with the lead-up to the single currency. I learned about practical macro-economics and European business, but also about myself – living and studying in different countries and different languages. I also developed a deeper appreciation of my own strengths and weaknesses.

I met my husband while he was a student at the London School of Economics. We got married and lived in Europe for a few years before coming to the United States in 2001.  I went to Yale for an MBA, and then we decided to make our home in Kansas City, where he was born.

What is your day-to-day like at UMB and how has it evolved?

I am responsible for strategic planning.  I enjoy sitting down with UMB leaders to think through strategy. It’s good to know these leaders well, learn their challenges, and answer the question, “where will we take the business?”

Of course, acquisitions are a big part of strategy. I built the Mergers and Acquisitions department back in 2008. That’s one of the things we’re very focused on today and a key component to what I do.

Where do you choose to give back?

Through UMB, I got involved with MOCSA many years ago. I was also the Board Chair of the Mattie Rhodes Center – which is involved in the community through social services, mental health counseling, and the arts. My husband and I were actively involved in a capital campaign for our children’s school, trying to grow the school to accommodate more students from the community.

Community involvement is very rewarding, and has been a tremendous learning experience, requiring me to grow as a leader.

Describe your perfect Saturday.

My perfect weekend is with my family. Our children are six and eight, so I realize time with them is precious and fleeting.

We are at that point in our lives where we run the circuit of school activities and soccer games and piano lessons. Weekends are busy, with family, which is perfect.
Klumb family


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.

Ms. Klumb serves as executive vice president, chief strategy officer. She joined UMB in 2003. She received a Master of Business Administration from Yale University and a Bachelor of Science in Economics from Universitat d'Alacant. Ms. Klumb is actively involved in the community, having served on a number of boards including the Mattie Rhodes Center and Academie Lafayette.

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Meet the Leadership Series: UMB Bank President & CEO Mike Hagedorn

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Q&A with Mike Hagedorn

Get to know UMB Bank’s President and CEO a little better. Mr. Hagedorn joined UMB in 2005 and was recently promoted to president and chief executive officer of UMB Bank. He is also the vice chairman of UMB Financial Corporation. Hagedorn family

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What about your past shaped who you are today?
My dad was a banker for 40 years in Des Moines, Iowa. My dad is probably the reason why I’m a banker today. I grew up with it at the dinner table. We still talk about banking at family get-togethers; it probably drives some of our spouses nuts, but that’s just who we are. My brother is a banker and my wife used to be a bank examiner, so we all have a lot in common as far as our career choices.

Tell us about your family.
My wife, Lisa, and I met in high school and have now been married 25 years.

My sister was adopted, so that was important to me. My wife and I talked about adopting even before we got married. Since I grew up with it, to me, that’s just what you do. We adopted our daughters when they were 5 and 7 from Russia, and we also have two sons. After we get through all the birthdays coming up, my kids will be 18, 17, 16 and 15. I reminded my wife the other day that we’ll be empty nesters soon. We’re trying not to panic.

Why did you choose UMB?
UMB was looking for a CFO. We were back in Iowa with all our family, and my daughters had only been in America for a year and didn’t speak English yet. It’s hard to take your spouse out of that environment  with her family or pull your kids out of school.

Because of those reasons, I said no to the position at first, but then agreed to come talk to Mariner and Peter. I talked to Peter first and realized, “Wow, this is a great cultural fit. This could work.” I went in to the meeting thinking it would be an easy decision to turn it down not expecting to love it so much. Then I sat down with Mariner, and he was very warm and down to earth. And I realized I could see myself here.

I would never work in a place where I don’t like the culture or don’t believe in what we’re doing or don’t like the people I work with. Those were the most important things. I also looked at the financial statements and realized UMB screamed opportunity. That was attractive to me. Those were the hooks. I’m now in my 9th year at UMB.

Describe your perfect Saturday.
Playing golf with my kids. Or whatever I’m doing, it would revolve around my kids. Even though I complain sometimes about all the madness and craziness, I want to take advantage of spending time with them before they’re all away at college.

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: UMBFC President & COO Peter deSilva

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Q&A with Peter deSilva

East Coast to Midwest: Find out why Peter deSilva found himself at home at UMB.

Peter deSilva

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What about your past shaped who you are today?
I grew up near the ocean in a very traditional American family in Dartmouth, Massachusetts. My parents were great role models and teachers for me. I lived in the same house for 25 years until I moved to Boston to work for Fidelity.

I spent most of my summers at the beach. My first job was clamming. My mom would drop me off at 9 a.m. and pick me up at 4 p.m. and take me to Porky’s fish House where I’d sell my two bushels for $12. So the whole day of work for $12.

I went to the local public college and worked 60 hours a week to pay for my tuition. I worked in a movie theater for eight years as an usher and concession clerk and then manager.

My parents always said, “You’re never going to have everything you want, but you’re always going to have everything you need.” And that’s the principle I grew up under.

I met my wife, Michelle, when she turned me down for a job as one of 20 people who interviewed me. I ended up getting the job anyway at Fidelity and didn’t know she voted against hiring me until we were engaged. Now we have two daughters who are 20 and 17.

Moving to Kansas City
When I showed up on the shores of the Missouri River, it was definitely a different experience than Plymouth Rock where I previously lived next to. But we adjusted better than I thought we might. The bigger challenge has been being away from our family who all still live in Massachusetts within a mile with each other. My children are now an interesting mix of Midwestern and East Coast.

Kansas City is a perfect city in terms of size. It’s sophisticated even to some extent on the level of Boston and New York, but it’s manageable. There is a real sense of community and pride here.

And as far as my professional career, I have loved being part of the UMB story for more than a decade now.

Community Involvement
I think it’s an obligation. I don’t know how a community gets better unless everyone works together to make it better. So I connect my personal passions with what I try to get UMB involved in.

My parents were big givers, too. They didn’t have much financially, but they gave their time, and passions to things they cared deeply about.  So that inspired me to always get involved. I want my children to see that too and understand government isn’t always the solution.  Individuals through not for profit organizations provide the support that those less fortunate need. It’s our communities’ responsibility and opportunity, and so I take it personally.

My mom was a nurse and started a support group she never told us about. After she passed away, I found out how much she did through this group for parents who had lost a child during birth. She had helped hundreds of people. It always stuck with me as a selfless thing for someone to do.  in the end the three things that matter most are faith, family and friends.  I try to hold true to this.

What are your favorite ways to spend a weekend?
Waking up in the summer on Cape Cod and not having a plan. I might go fishing, clamming or lobstering to get that night’s dinner. I love to sit and look at the ocean and relax from the everyday stresses of life.

Mr. deSilva is president and chief operating officer of UMB Financial Corporation. He is also vice chairman of UMB Bank, n.a. Mr. deSilva joined UMB in January 2004. He is primarily responsible for UMB's fee-producing business units and product lines, including Scout Investments; UMB Fund Services, UMB Healthcare Services Payment Solutions, Prairie Capital Management. Additionally, he is responsible for all corporate operations, technology, properties, security and marketing.

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Meet the Leadership Series: CFO Brian Walker

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Q&A with Brian Walker

UMBFC’s new CFO talks about swimming with sharks, putting people first and what it takes to be a CFO.

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What brought you to 2014?

I grew up in the Kansas City area, graduating from Olathe North and then Kansas State University (Go Cats!). The first 13 years of my career started in public accounting with a focus on banking.

I met my wife, Anne, in college, and even though she was a human ecology major, she eventually saw the appeal of the financial industry and is now a successful tax accountant.

We have two sons, Alex is 7 and Chase is 9. The latest craze in our house is Go Fish.

Given your line of work, do you think you emphasize allowance and budgeting more than the average parent?

My portion of the homework is the math, and my wife helps with English. Beyond just homework help, l want to teach my kids basic money skills while they’re still young. Lack of financial education could be the downfall of America. So passing along my passion and knowledge of finances is a parenting goal of mine.

What makes a CFO great?

Focusing on people first. I’m naturally inclined to think about process, controls and procedures and how to improve them. But I try to push against that inclination and focus on my team first. I can’t do anything without my team. So my job is to continue to look for strategic ways to improve processes while developing and supporting my teams.

And of course you have to have patience and a good sense of humor.

What is the greatest challenge facing CFOs in the financial industry in 2014?

Compliance. Our second full-time job is complying with regulations. Risk management has always been important for CFOs, but it is even more of a priority in 2014. We have to balance risk management while looking at today’s environment and figure out how to continually meet the needs of a diverse set of stakeholders. How do we strategically reconcile those needs all the while providing the Unparalleled Customer Experience and maintaining a competitive stance in this industry?

What advice do you have for others that aspire to become CFO?

There’s nothing different about me than a lot of people on my team. The only difference is years of experience. They can all accomplish the same things. My advice is to find good coaches and mentors. Be open to criticism. Be willing to fail and learn from it.

If you ever want to BE your boss, take work off of their plate. I strive to be grounded and understand that I’m not magical. I’m not any better than anyone else who has come or gone. 

Where is your favorite place to travel?

The islands. Any of them. I am an avid SCUBA diver, and have dived everywhere from the Pacific to the Atlantic, Hawaii to the Caribbean. I learned to dive in the U.S. Virgin Islands while I was auditing a bank in St. Croix.

diving with sharks


Mr. Walker is the Chief Financial Officer and Chief Accounting Officer at UMB Financial Corporation. He joined UMB in 2007. He earned a Business Administration (Accounting) degree at Kansas State University and his Masters of Business Administration degree at Rockhurst University. In addition to his involvement with several community and charitable organizations, he is also the treasurer for the Big Bash Foundation, a not-for-profit foundation focused on providing financial assistance and increasing visibility for local not-for-profit organizations.

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Connecting the Dots: Commercial client forum

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You’ve probably attended industry or community events with time set aside for networking. But, have you ever met at your company’s bank for an event dedicated solely to networking and sharing ideas? Earlier this year, UMB’s commercial banking team brought together a group of our clients to share ideas and perspectives about everything from succession planning to product evolution and other leadership topics. We sat down with Brian Beaird, senior vice president in UMB’s Commercial Banking department, to discuss this informative client forum.

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What was your goal with the forum?

We wanted to bring in a handful of our clients so they could discuss leadership topics and expand their business networks. The goal was to create meaningful opportunities to develop relationships beyond traditional commercial banking interactions. We wanted to connect our clients to others like them so they could discuss real-life challenges and take away tangible ideas to consider for their businesses.

Who did you invite to this event?

We invited senior leadership from ten middle market clients across our eight-state footprint. The clients represented various industries, from construction to non-profits. They also represented various types of leadership within the company. Three of the businesses are family run, ranging from first to third generation leadership.

Specifically, what did the attendees discuss?

In addition to the general leadership topics, we utilized articles from the Harvard Business Review to guide our discussion. The articles created a framework for facilitated discussion that created unique perspectives based on the various styles of leadership in the room and industry-specific scenarios that enabled group members to think differently about their business.

What surprised you about their conversations?

The clients who attended provided a unique perspective that helps us to better understand how various industries are performing and how they are projected to perform. Additionally, it was interesting to watch the attendees make connections to similar issues they’ve experienced, even if they were in different industries. For example, one attendee was concerned with an aspect of his company’s succession plan. Another attendee had a very similar experience in his company and the two were able to talk after the forum and exchange ideas on how to help solve the problem.

What was the outcome of these meetings?

The companies we bring in for these forums are geographically separated, but they have begun to do business together and leverage the experiences of the group as an information source for decision-making. Two attendees have actually developed a business partnership as a direct result of this meeting.

Having done two of these forums since last fall, we continue to follow up with the attendees to ensure the conversation continues. In fact, one member requested that we help lead a strategic off-site meeting for their company.

The most important takeaway we’ve seen from these meetings is the company leaders have realized it’s important for them to branch outside of their networks like this on a regular basis. Communicating with other companies outside the standard, day-to-day business interactions can help you create partnerships you may never have developed otherwise. You may even be able to learn from the experiences of other companies and apply them to your own.


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. Beaird is a senior vice president in UMB’s Commercial Banking department. He is responsible for commercial banking strategy, which focuses on the development of growth through our people and various markets. He joined UMB in 2009 and has 14 years of experience in the financial services industry. He earned an MBA and a master’s degree in human resources from Webster University in Kansas City, MO. Mr. Beaird is also the co-founder of the Kids to Kings youth basketball organization.

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The business of doing good: How to manage your non-profit’s finances (Part 3)

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Recently, UMB hosted a group of almost 40 representatives from Colorado Springs non-profits to talk about a variety of financial management tips for non-profit organizations. In my previous blog posts I highlighted two topics that came up during the conversation: streamlined fundraising processes and supporter/employee enthusiasm. The third subject we discussed was the idea that non-profits need a bank that acts as an extension of the organization.

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Most people probably don’t automatically make the connection between a bank and a non-profit, but the two organizations can work together to create a productive partnership. An important part of the support non-profits need to thrive is the relationship they have with their bank. Since funding is the primary way to ensure that the non-profit can continue to operate, good financial management is key. A strong relationship between a non-profit and their bank may give the staff peace of mind and help them to focus on doing good things for their community and less about their financial management.

Some challenges that non-profits face include getting sufficient funding, board and associate development and staff retention. Your bank may be able to direct you to resources that can help you overcome these challenges:

A good relationship with your bank can also help your organization achieve a sound financial structure. In addition to keeping the organization up and running, a solid balance sheet could help attract new leadership to your organization. One of our non-profit clients came to us with a potential board member who was interested in joining the organization’s investment board. The potential board member was passionate about the organization but concerned about their investment risk management. After talking with UMB and the non-profit leadership about the investment risk, he was no longer worried and joined the board because he could focus on his passion for the organization.

Non-profits offer many invaluable services to their communities. While these organizations differ from for-profit businesses in their mission and goals, they have the same business principles. Treating the financial management of a non-profit like a business helps the organization in the long run because they’re able to focus on serving the needs of their community.


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. Doyle is community bank president for UMB’s Colorado Springs region. He is responsible for guiding strategic direction in the Colorado Springs region as a member of the Colorado management team. He joined UMB in 2011 and has eight years of experience in the financial services industry. He earned a bachelor’s degree in finance from Florida State University in Tallahassee, Fla. and a master’s degree in business administration from Oral Roberts University in Tulsa, Okla.

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Your culture drives innovation

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Mike Hagedorn is back to expand on the idea of company culture. This time, he highlights the importance of allowing your culture to drive innovation.

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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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