UMB Financial Completes Acquisition of Heartland Financial USA



UMB Financial will close the acquisition of Heartland Financial USA. As a result, UMB’s asset size will increase to approximately $68 billion (based on assets as of Dec. 31, 2024), expanding its geographic footprint from eight to 13 states. The acquisition also increases UMB’s private wealth management AUM/AUA by 32% and significantly expands its retail deposit base.

“Today is a monumental day for our organization as we welcome HTLF customers and associates to UMB,” Mariner Kemper, chairman and CEO of UMB Financial, said. “As the largest acquisition in our company’s history, this new chapter presents a tremendous opportunity to expand our core services and capabilities, while also introducing new communities to our geographic footprint. We are ready and excited to help our customers, existing and new, meet their financial goals.”

This acquisition will expand UMB’s banking presence, adding California, Iowa, Minnesota, New Mexico and Wisconsin to the existing footprint, which includes Missouri, Arizona, Colorado, Illinois, Kansas, Nebraska, Oklahoma and Texas. In addition, 104 new branches and 115 ATMs will be added to UMB’s current 93 banking centers and 235 ATMs.

HTLF, which currently does business as Minnesota Bank & Trust, Wisconsin Bank & Trust, Dubuque Bank & Trust, Illinois Bank & Trust, Bank of Blue Valley, Citywide Banks, Premier Valley Bank, Arizona Bank & Trust, New Mexico Bank & Trust, First Bank & Trust, HTLF Food & AgriBusiness, HTLF Specialized Industries and HTLF Retirement Plan Services, will operate as a division of UMB prior to the banking centers and systems conversions, which is anticipated to occur in Q4/25, after which time the divisions will operate as UMB.

As previously announced, five HTLF board members now join the UMB Financial board of directors: John Schmidt, Bradley “Brad” Henderson, Jennifer “Jenny” Hopkins, Margaret Lazo and Susan Murphy. With these additions, the UMBF board grows to 16 board members.

“As we look to the future, we remain excited and true to who we are as an entrepreneurial-minded organization rooted in a more than 111-year history of steadfast commitment to our customers, associates and the communities we serve,” Kemper said.


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