UMB Acquires Marquette Financial Cos.
Dec 15, 2014
UMB Financial Corp. has acquired Marquette Financial Cos. Marquette Financial is a family-owned business founded by Carl Pohlad, whose sons now run the business. Marquette is a $1.3 billion financial services company that provides banking, commercial finance, real estate lending and wealth management services to businesses and owners. It owns Meridian Bank, which has branches in Arizona and Texas.
UMB Financial Corporation is a $16.3 billion diversified financial holding company based in Kansas City, MO. It offers complete banking services, payment solutions, asset servicing and institutional investment management services. UMB operates centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas.
The Pohlad family will receive approximately 3.4 million shares, or $182.5 million, representing about 7% ownership in UMB.