Blog   Tagged ‘UMB’

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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CEO Corner: UMBF Earnings Summary

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Earnings infographicOur recent earnings report reflected our financial performance in 2016’s fourth quarter and a snapshot of the full year. I’m pleased to share some high-level results, and call out a few important points.

Here are some key points that were particularly noteworthy for us:

  1. We had a great fourth quarter, with net income of $42.9 million, and $158.8 million for the full year. That reflects record annual net income, which increased nearly 37 percent from 2015, double-digit year-over-year loan growth, and perhaps most importantly, continued improvement in our profitability metrics.
  2. During 2016, we fully integrated our acquisition of Marquette and grew the combined customer base with average loans increasing 12.5 percent. The acquisition doubled our presence in the Arizona and Texas regions, driving a significant part of that loan growth.
  3. We continued our progress in optimizing our balance sheet by shifting earning assets into loans. The results can be seen in our improving net interest margin (NIM), which in the fourth quarter, increased 24 basis points from a year ago to 3.00 percent. This was driven by loan volumes and by a more optimal asset mix.
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Last year was certainly an interesting year for our industry, with the continued low-rate outlook turning to a more positive sentiment almost overnight following the election. While it’s too early to predict what a potentially new economic and regulatory environment could mean for UMB, some of the potential changes that have been suggested could prove beneficial.

Suffice it to say, we are listening to the discussions and different thoughts regarding what may or may not come to fruition, and we look forward to seeing what 2017 holds for the industry and the economy. That said, our path in the year ahead is to maintain focus on our key priorities.

I am very proud of the progress we made in 2016 and look forward to working with all our associates in providing our customers with another excellent year of service and partnership.

Read more in American Banker, UMB Financial profit rises on double-digit loan growth‡.

 

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. Kemper is the chairman and chief executive officer of UMB Financial Corporation and UMB Bank, n.a. He joined UMB in 1997. Mr. Kemper is active in both civic and philanthropic endeavors. One of the causes he is most passionate about is the arts. He currently serves as a trustee and executive committee member for the Denver Art Museum and is a past board member for The Arts Council of Metropolitan Kansas City.



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VTO takes Anthony Rutledge back in time

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For one associate, UMB’s volunteer time off (VTO) program* recently reconnected him to his past.

Twenty years ago, UMB associate Anthony Rutledge was a third grade student at Meadow Lane Elementary School. His class participated in the School of Economics, which provides students with a hands-on experience focused on implementing real economic principles. Students create their own business—from determining operating expenses to selling goods and managing money.

As a student, Anthony spent weeks preparing for School of Economics and when the big day came, he worked as an accountant. Through helping “business owners” track money, pay off loan debt and pay rent, Anthony was hooked.

Fast forward to the present, and Anthony, a customer relationship manager for UMB, found himself back at School of Economics—this time, as a volunteer.

THEN                                                         NOW

Anthony Rutledge as a student attending the School of EconomicsAnthony Rutledge volunteering in 2016

 

 

 

 

 

 

 

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“I wanted to give back to something that I enjoyed as a student. Most kids do not understand why they have to do something, and showing how what they’ve learned translates into how I, and the other UMB volunteers, make our living is very rewarding,” Anthony explains.

The VTO program empowers many to give back to organizations that have helped shape them. According to Anthony, “most of us would not have the opportunities we’ve had, or be where we are today, if someone hadn’t volunteered to help us in one way or another.”

*All full-time UMB associates (and part-time associates who work at least 20-hours per week) receive two paid days each year to volunteer at qualifying organizations of his or her choice. Learn more about our community involvement and associate benefits.

 

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.


Jen Houston joined UMB in 2015 as community relations manager. In her role, she works to create volunteer opportunities and to be a resource for associates looking to get involved in their communities. Jen holds a Bachelor of Journalism degree and a Bachelor of Arts degree in Spanish from the University of Missouri – Columbia. She also holds a Master of Business Administration degree, with an emphasis in leading and managing people, from the University of Missouri – Kansas City, in addition to completing the Multimedia Studies Certificate Program at the Kansas City Art Institute.



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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 Veterans: Mark Murphy

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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.

Q&A with Mark Murphy, Captain, Field Artillery, United States Army

Tell us about yourself.
I was born in Lancaster, Ohio, a town of approximately 40,000 people located just south of Columbus, Ohio. As much as I enjoyed Lancaster while growing up, I always knew I wanted to leave and experience more dynamic settings. I was fortunate enough to receive a scholarship from the University of Southern California (USC) where I studied film.

My time at USC was entertaining, but by the end of my senior year, I had lost interest in working in Hollywood. With the assistance of one of my history professors, I secured a position teaching English for the Japanese government. I not only worked alongside Japanese, but other Americans, Canadians, Australians and Britons. When my teaching contract ended, I headed back to the United States, and immediately attempted to join the Navy, but ultimately ended up in the Army.

Why did you choose to join the military?
Since childhood, I’ve been fascinated by history and international relations, so joining the military seemed like a natural extension of both these interests. Also, most of my relatives are veterans, so the military culture was never alien to me.

Give us some highlights about your military career.
After completing approximately 18 months of initial training in Georgia and Oklahoma, I was assigned to the Second Infantry Division in Camp Hovey, South Korea. I was there less than eight months when our entire brigade (approximately 4,000 personnel) was deployed to the Al-Anbar Province in western Iraq. We landed in Kuwait in August 2004, spent a few weeks training and acclimating to the oven-like temperatures, and then convoyed to neighboring Iraq.

Mark Murphy Iraq

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Our brigade operated out of the provincial capital Ramadi, which in the weeks after our arrival deteriorated into one of the most violent cities in the world. The artillery battery I belonged to was responsible for providing 24/7 security to a sector on the outskirts of the city. We spent several hours a day patrolling the streets and markets, frequently stopping to establish a temporary traffic checkpoint or interview locals about the situation. Some nights we would conduct raids on suspected insurgent hideouts.

The first month was relatively calm, but in October the insurgent activity spiked dramatically, and we started taking a number of casualties. Improvised explosive devices (IEDs), snipers and suicide bombers were the main culprits. The latter were the scariest because there is very little you can do to deter someone who is already trying to kill themselves.

By the end of the tour our brigade had suffered 68 killed and several hundred wounded. Our artillery battery lost six soldiers to combat and another to suicide—plus five more that were so seriously wounded they had to be evacuated to a military hospital in Germany. It was eerie to return to our barracks after one of our people had been killed and find all of their possessions arranged exactly how they had left them only a few hours before.

I would be remiss if I didn’t mention the hardships endured by the residents of Ramadi. To this day, I am not sure how they managed to go about their daily lives while thousands of strangers —American troops, Iraqi insurgents, and foreign jihadists—roamed the city streets trying to kill one another in increasingly creative and destructive ways.

After the tour, the Army didn’t return us to South Korea, but instead sent us to Fort Carson, located in Colorado Springs, Colo. This proved to be a much more agreeable setting than Ramadi. The following year I left the Army, and headed to Cusco, Peru to attend an intensive, Spanish language immersion school.

How did you come to be at UMB? What made you want to work here?
I was enrolled in the Executive MBA program at Washington University in St. Louis. One of my classmates, Steve Marin, had recently retired from the Air Force and secured a position at UMB. UMB had an excellent reputation in the community and the financial industry seemed to offer good opportunities. With Steve’s assistance I applied, and was lucky enough to be hired.

What about your past shaped who you are today?
My personality, behavior, beliefs and interests are largely a product of the following influences: the Midwest, East Asia, Catholic school, National Geographic, nature, libraries, Hollywood and the military. Put them all in a blender, hit “mix,” and the resulting concoction will resemble me.


Mark Murphy is the UDAAP Compliance Analyst for UMB. He is responsible for reviewing marketing materials, performing product reviews, and creating and maintaining UDAAP focused risk assessments. Mark joined UMB in 2015. He is a 2014 graduate of Washington University in St. Louis’ Executive MBA program, and also holds degrees from the University of Kansas and the University of Southern California.



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UMB: Insights – Culture

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What makes UMB stand out from other organizations? Our leadership shares what they believe makes us special 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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More than an annual report—and a look at what’s ahead

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CEO Mariner Kemper shares thoughts from the 2013 Annual Report and some of the challenges facing UMB in 2014.

UMB is not your typical financial organization. We are unique. With our business model, we’re more than just a bank—we’re a financial services company that owns a good-sized regional bank, an institutional asset management company, a fund services business, and a payments solutions business. That diversification, with nearly 60 percent of revenue coming from non-bank services, is key to UMB’s success. This did not come about by accident—it’s a core strategy backed by years of investment and organic growth.

There are a lot of organizations that would love to be where we are. Many banks in our size category are trying to figure out how we’ve done it—they would like to emulate it. What they will figure out is that you can’t create this overnight. Replicating UMB’s business model is not easy. It took this company 100 years to be excellent at it.

Quality has always been our focus. To find out more about our focus on quality, take a look at our 2013 Annual Report.

Challenges for 2014

1)      Economic cyclesAs much as we all desire calm waters, the norm has always been to experience economic cycles. When will the economy take a turn again? No one knows, but history teaches us that these factors do move up and down—so we can be confident that change is in our collective future.

When the economy was at the top, people were saying “It’s different this time.” When things were getting overheated, you’d constantly hear “But, it’s different this time.” It’s never different.

  • The good news: UMB has proven over the last century that we can thrive in all economic conditions. We have a solid balance sheet and take pride in our extraordinary credit quality and are well positioned to benefit when interest rates begin to move up.
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2)      Bank regulation – The philosophy of expanding regulatory intervention is affecting all areas of our economy—primarily financial services. In the last four years, we have increased our own audit and compliance departments by 62 percent (and rising). Instead of helping, we believe that piling on more regulation passes on the higher costs of doing business to the consumer. To see the failure, you do not have to look further than Washington’s posturing about “too big to fail” banks. Far from solving that big-bank problem, since 2008, we have seen less than a dozen of the largest banks grow to control fully two-thirds of total U.S. banking assets.

  • The good news: Regardless of government regulations, we remind our people to stay prudent and trust the practices we have had in place for more than 100 years. We’re not followers.

The Next 100

Last year, we looked back on the 100-year history of UMB. We’ve found that although many things have changed, our founding principals have remained the same. This has allowed us to weather the storms and provide solid long-term returns to our investors. The below statistics clearly show how UMB compares to the industry.

UMBFvsIndustry

As we head into our next 100 years, our foundation remains the same as we strive to do what’s right, not what’s popular at the moment.

We hope you’ll join us on this journey of continuing our quality story.


Mr. Kemper is the chairman and chief executive officer of UMB Financial Corporation and UMB Bank, n.a. He joined UMB in 1997. Mr. Kemper is active in both civic and philanthropic endeavors. One of the causes he is most passionate about is the arts. He currently serves as a trustee and executive committee member for the Denver Art Museum and is a past board member for The Arts Council of Metropolitan Kansas City.



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Target Credit/Debit Card Security Breach

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You may have seen the recent news that Target experienced a breach in electronic security‡ with their customers’ debit and credit cards. While UMB has security protocols in place, we ask that you remain vigilant as well. You can use our online or mobile banking options to check balances and transaction history 24/7. If you see any suspicious activity on your account, please contact our customer service associates as soon as possible. That number is 800.821.5184.

Credit card

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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.


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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A note from our CFO

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This year, UMB has celebrated many achievements in reaching our 100-year milestone. One thing we are particularly proud of is our ongoing effort to be transparent in our communication.

You may have read the news articles about two specific things: depositor exiting UMB and our capital raise project. First and foremost, I want to clearly state that these two topics are completely unrelated. Anyone who has ever been through a common stock offering knows it’s not something you can pull off in a couple of days. The timing of the two events was unfortunate, because it created incorrect assumptions. We did not execute a capital raise because of the depositor.

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To comply with securities rules related to our stock offering, we were limited in what we could say about the depositor. However, now that we are on the other side, I would like to take the opportunity to provide more context.

  • Depositor
    A few notes on the depositor. The organization is still a UMB customer. We previously disclosed that the deposits would move over the next 120 days, and as of today, the deposits remain on our balance sheet. Additionally, the customer will continue to work with UMB on their asset servicing business even after the deposits have exited.The decision to move the deposits off of our balance sheet was a result of ongoing dialogue we have had with the customer for the past couple of years. UMB has had a longstanding risk management strategy, and during a review of potential deposit concentrations, we approached the customer to reduce their deposits. They did so, but because of continued growth in the customer’s business, the deposits began increasing again. UMB will continue to monitor our deposit concentrations and will continue to make decisions that are best for our company and our shareholders. We have multiple unique sources of deposits: Institutional Banking and Investment Services (IBIS), Fund Services and Health Savings Accounts (HSAs) just to name a few, so it is important that we are continuously monitoring and adjusting as appropriate.
  • Capital Raise
    Our company has been growing steadily over the past few years and that is evident in our financial results. We have experienced robust balance sheet growth, especially in loans. After we completed our recent forecasts, it was clear that the expectations for growth would continue. We needed to grow our capital to support our balance sheet growth. We plan to use the money raised to support our continued growth and for general corporate purposes.When I tell my kids what I’ve been up to the last couple of months, I essentially tell them that I went to New York and asked strangers and current shareholders to invest in our company. And based on our consistent and stable growth for more than 100 years, they gave us more than $200 million.A simple analogy—but it essentially describes our capital raise campaign. Also important to note, the majority of the investors are new to UMB which validates our current investors, and is a testament to the work our associates have been doing over the last century.

I hope this gives you some color to our recent news. It’s a fantastic time for UMB and I look forward to what the next 100 years will bring!

 

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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R. Crosby Kemper: Building a legacy through integrity and innovation

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R. Crosby Kemper discusses the legacy of integrity and innovation at UMB. He reflects on the company’s consistent strength and stability that comes from the idea of doing what is right instead of what is popular.

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For more of UMB’s history, take a look at “Our Stories” on umb.com.


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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