UMB Financial announced the execution of a definitive agreement for UMB to acquire Marquette Financial Companies (MFC) in an all-stock transaction.

“With this announcement, UMB continues to demonstrate our commitment to partnering with companies that are a strategic, financial and cultural fit. We expect the combination of UMB and MFC to be financially attractive as a result of our complementary balance sheets, increased penetration of strategic markets and the addition of national business lines,” said Mariner Kemper, chairman and CEO, UMB Financial Corporation.

MFC is a privately held financial-services company with a portfolio of businesses, including Phoenix-based Meridian Bank, N.A., and Ft. Worth-based Meridian Bank Texas.

Within Meridian Bank, N.A. are Dallas-based Marquette Business Credit, which provides asset-based loans for working capital, recapitalization, growth, and mergers and acquisitions; Marquette Transportation Finance, which provides accounts-receivable financing and factoring primarily for transportation businesses, and its division, Marquette Commercial Finance; and Marquette Asset Management, which provides private asset-management and trust services to individuals, families and institutions, based in Minneapolis, Minn.

Upon closing, the Pohlad family, which owns MFC, will receive approximately 3.4 million shares, or $182.5 million based on UMBF’s closing price of $53.16, representing approximately 7% ownership in UMBF. The transaction has been approved by the boards of directors at both companies and is anticipated to close mid-2015.