Blog   Tagged ‘St. Louis’

St. Louis Snapshot: Q&A with Peter Blumeyer

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In the early months of the year, bankers are looking ahead and considering challenges the industry might face as well as where the industry could be going. The Risk Management Association recently hosted a Bank Presidents’ Fireside Chat to gain insight and industry perspectives for 2017. Following are a few of the comments shared by UMB Bank St. Louis President Peter Blumeyer, who served as one of the panelists.

What is your outlook for the year?

As we begin 2017, the banking industry is very competitive. We believe C&I, manufacturing and distribution will be the most competitive industries for lending this year. We have set high goals and will work very hard to compete in this market. We will also keep a keen eye on the talent in the market. We want to ensure we hire people who can compete in this industry while providing them a fruitful career.

How has UMB Bank dealt with the extended period of extremely low interest rates?

We continue to operate in a sustained low interest rate environment that has impacted our net interest margin and continues to challenge our industry. However, we have actively positioned UMB to benefit as rates begin to rise. As a result, whenever the Federal Reserve does drive the short end of the rate curve higher, the nimble position of our earning assets is expected to produce a lift in interest income. We have a solid balance sheet and take pride in our extraordinary credit quality and are well positioned for when interest rates begin to move up.

Are there any new trends developing, positive or negative, in lending?

One negative trend we are experiencing is aggression. As mentioned above, the market is very competitive as every bank looks for new deals and areas to grow. We are seeing customers hone in on the aggressive competitive nature. They might ask for more money with a lower rate or try and compare different term sheets. This can work in their favor as they search for the best rate, but it’s also a risky situation. If a customer tries to piecemeal a deal, it might not be very attainable for the banker to create.

A positive trend is the market is healing. We are slowly coming back from the recession, which is very exciting. Companies have access to the money they need to grow their business and perform their capital expenditures. This is even better for our economy as more growth is added to St. Louis. It is encouraging to see, and at UMB, we are excited to support this growth.

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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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Celebrating St. Louis

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Our associates recently hit the streets in the St. Louis area, delivering goods, thank yous and smiles to nearly 20 organizations, including schools, police and fire stations, animal shelters, hospitals and nonprofit organizations. Associates provided lunches, treats, supplies, donations and more to deserving organizations and city services across the area.

Throughout the day, 51 associates covered more than 44 miles – from Belleville, Illinois to St. Charles, Missouri. Check out who they saw and what they did as they celebrated some of the people and organizations that make St. Louis special.

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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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Meet the Leadership Series: Phil Klevorn (Private Wealth Management)

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Q&A with Phil Klevorn, Senior Vice President, Private Wealth Regional Manager

Get to know UMB’s leadership a little better.
Phil Klevorn marathon

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Tell us about yourself.
I am from St. Louis and feel rooted in this community. I am very much involved in the rebirth and rebuilding of the urban landscape of St. Louis. I went away for school to Benedictine College in Atchison, Kan. Few people know that in a previous life I was a Minor League Baseball umpire in the Appalachian League and the Florida State League. I even had spring training with the New York Mets and the Philadelphia Phillies. When it became apparent I was not Major League material, I had to move on.

I am the youngest of six boys (no girls) and so my growing up was a unique experience to who I am. Currently I have three kids ranging in age from 11 to 16-years-old and all are progressing in a manner that I expect will lead to mature and productive adults. My wife is a godsend who keeps me grounded and is the best partnership I could ever be part of. 

What about your past shaped who you are today?
I would like to think that the times I have failed to achieve a goal or been unsuccessful in a pursuit has shaped me today. I am a firm believer that we learn from our failures and mistakes and those difficult times make us stronger.

Why did you choose UMB?
From day one I was impressed with UMB as I saw early on the value system here matches up with mine. Essentially, I am attracted to the way we value clients and treat them in a manner that focuses on their success and them as the core of what we do each day. 

What have you found successful in your role within UMB Private Wealth Management?
I think a great Private Wealth manager recognizes the strength of the team around them and works to that strength. The success we have had here in St. Louis is because we have come together as a team and have employed a disciplined strategy that challenges our clients and enters into a process that is focused on our clients rather than on us.

What are your favorite ways spend your free time?
I serve on the board of the International Institute which is an organization that deals with refugee resettlement and immigrant assimilation. Seeing individuals come into our country with nothing but the clothes they are wearing and in a matter of time sharing in the American dream is something to behold.

I run marathons (I’m not very fast) and enjoy the intensity and push to go beyond what I am capable of. And, I serve on the City of St. Louis Tax Increment Finance Commission as a way to promote the growth of our urban core.

On the weekends, I like to go on a long run in training for a marathon and then spend time with my wife and kids. Good food and good drink can make a special weekend very special.

Where is your favorite place to travel?
Phil Klevorn family at Liberty Bell
I really like historical places of interest. This past summer, my family and I went to Pennsylvania. To stand in the spot where the Declaration of Independence was debated and signed is a moving experience. Likewise, standing on the Battlefield of Gettysburg and reliving that watershed moment in U.S. history helps put my life in 2015 in perspective.

Tell us about your team.
The St. Louis Private Wealth team is really a great group who has diverse backgrounds and levels of experience. This team does not need to be told what to do. I fill out the lineup card, and they do the hitting.

I am happy to report that we have brought in as much in assets under management for the first 6 months of 2015 as we did in all of 2014. This is a testament to the focus we have applied around our process. The talent and abilities are there, we are just doing a better job of bringing it together.

What is the greatest challenge facing the industry right now?
How we engage clients going forward will be the key to our success. For our industry, if we focus on clients goals and objectives and understand their priorities, we will be successful—and I think we are ahead of the curve on this. I am not sure the industry understands this, but it is repeatedly what our clients tell us. Our clients are not interested in how great at wealth management a firm is. They want to know we are listening and providing solutions that meet the client’s needs and not what is in our own self interest. To me, this is the defining issue of the day and that separates the good firms from the not so good firms. I am happy that we are going down the path of being a good firm.

 

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Mr. Phillip Klevorn is a Regional Manager for UMB Private Wealth Management. He is responsible for Private Wealth Management in the St. Louis Region. He joined UMB in 2015 and has 22 years of experience in the financial services industry.



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UMB Insights: Commercial Lending in St. Louis

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The current lending environment in St. Louis is cautiously optimistic. Find out more about what industries are seeing the most growth this year.

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Mr. Peter Blumeyer is President of the St. Louis marketplace for UMB. He is responsible for overall commercial growth in the St. Louis metropolitan area and works closely with other lines of business leaders to drive overall growth in the region. He joined UMB in 2006 and has 10 plus years experience in the financial services industry. He currently resides in Glendale, MO with his wife and two small children.



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