UMB Financial Corporation
Encyclopedia
UMB Financial Corporation is an American financial services
company based in Kansas City, Missouri
with operations in seven, mostly Midwestern, states. The company owns commercial banks, a brokerage company, a community development corporation, a consulting company, a mutual fund servicing company, and 16 other subsidiaries. As of December 31, 2009, it had over $11 billion in assets.
became president in 1919. Crosby's brother, James M. Kemper, worked on building Commerce Bancshares
. City Center Bank started what is claimed to be the first "drive-up" window in 1928.
In 1934, the bank was renamed City National Bank & Trust Company, and opened its headquarters in downtown Kansas City at 928 Grand Boulevard. As banking laws changed, the bank formed a holding company, Missouri Bancshares, Inc. in 1969. It changed its name to United Missouri Bancshares, Inc. in 1971 as it became a multibank holding company, and City National changed its name to United Missouri Bank. In 1994, the bank again changed its name to UMB Financial Corporation to better suit its expanding, multi-state business. In 2004, it began being traded on NASDAQ
.
J. Mariner Kemper, the company's current chairman and CEO, is the fifth generation of Kempers to lead the company.
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
company based in Kansas City, Missouri
Kansas City, Missouri
Kansas City, Missouri is the largest city in the U.S. state of Missouri and is the anchor city of the Kansas City Metropolitan Area, the second largest metropolitan area in Missouri. It encompasses in parts of Jackson, Clay, Cass, and Platte counties...
with operations in seven, mostly Midwestern, states. The company owns commercial banks, a brokerage company, a community development corporation, a consulting company, a mutual fund servicing company, and 16 other subsidiaries. As of December 31, 2009, it had over $11 billion in assets.
History
The company was founded in 1913 as City Center Bank by William T. Kemper with $1,100 in first-day deposits. William's son R. Crosby KemperR. Crosby Kemper
Rufus Crosby Kemper Sr. transformed City Center Bank into UMB Financial Corporation in Kansas City, Missouri, during his tenure from 1919 to 1967....
became president in 1919. Crosby's brother, James M. Kemper, worked on building Commerce Bancshares
Commerce Bancshares
Commerce Bancshares, Inc. is a Kansas City, Missouri based U.S. bank holding company with branches of its Commerce Bank in Colorado, Kansas, Missouri, Illinois, and Oklahoma....
. City Center Bank started what is claimed to be the first "drive-up" window in 1928.
In 1934, the bank was renamed City National Bank & Trust Company, and opened its headquarters in downtown Kansas City at 928 Grand Boulevard. As banking laws changed, the bank formed a holding company, Missouri Bancshares, Inc. in 1969. It changed its name to United Missouri Bancshares, Inc. in 1971 as it became a multibank holding company, and City National changed its name to United Missouri Bank. In 1994, the bank again changed its name to UMB Financial Corporation to better suit its expanding, multi-state business. In 2004, it began being traded on NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
.
J. Mariner Kemper, the company's current chairman and CEO, is the fifth generation of Kempers to lead the company.