UMB Bank expands corporate trust services in California

KANSAS CITY, Mo. - UMB Bank, n.a., a subsidiary of UMB Financial Corporation (NASDAQ:UMBF), a $7.94 billion market cap financial institution with a proven track record of 32 consecutive years of dividend increases, has announced the opening of a new office in Costa Mesa, California, as part of an expansion of its Corporate Trust and Agency Services group. According to InvestingPro data, the company has demonstrated robust financial health with a 13.4% revenue growth in the last twelve months. The bank has welcomed thirteen professionals from Wilmington Trust, including well-known corporate trust leaders John Deleray and Ali Naqvi, in a move to strengthen its services in the region.

The Costa Mesa office will serve as a hub for the majority of the new team members, focusing on corporate, municipal trustee, escrow, and paying agent services. The expansion comes on the heels of UMB’s recent foray into California’s commercial and retail banking sectors following the acquisition of HTLF Bank and its division, Premier Valley Bank, earlier this year.

John Deleray, along with Jeanie Mar, regional manager, will lead a team concentrating on municipal and corporate trustee services. Deleray, who played a crucial role in establishing Wilmington Trust’s California presence in 2011, expressed enthusiasm for the opportunity to grow UMB’s reputation on the west coast.

Ali Naqvi’s team, which includes regional manager Jane Snyder, will specialize in complex M&A transactions, working with prominent law firms and private equity firms nationwide. Naqvi highlighted UMB’s platform as ideal for providing flexible escrow and paying agent services.

UMB’s Corporate Trust and Agency Services, part of the bank’s Institutional Banking division, has seen significant growth through organic development, strategic hires, and acquisitions, including expansion in Ireland. The division offers a broad spectrum of services, including asset-backed securities, distressed debt, loan agency, and project finance services, among others.

UMB Financial Corporation, headquartered in Kansas City, Missouri, provides a range of financial services across multiple states and caters to business and institutional clients globally. Trading at a P/E ratio of 13.5 and maintaining dividend payments for 55 consecutive years, the company has shown remarkable stability. This expansion underscores UMB’s commitment to growing its corporate trust business and enhancing its service offerings in key markets. For deeper insights into UMB’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers detailed research reports and additional ProTips.

The new team members, including Deleray, Mar, Naqvi, and Snyder, began their roles at UMB yesterday, with additional team members expected to join in the coming weeks. This move is part of UMB’s strategic efforts to invest in and expand its Corporate Trust and Agency Services group, which has been growing consistently year over year. With eight analysts recently revising their earnings expectations upward and the stock showing a strong 32.8% return over the past year, the company’s expansion strategy appears well-timed. The information for this expansion was provided based on a press release statement. Discover more detailed financial metrics and analysis through InvestingPro’s comprehensive research reports.

In other recent news, UMB Financial Corporation reported its first-quarter 2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $2.58 against a forecast of $2.26. The company also exceeded revenue forecasts, reporting $563.84 million compared to the expected $547.66 million. Despite these positive results, Citi analysts downgraded their outlook on UMB Financial, reducing the price target from $127.00 to $109.00 due to concerns about the company’s credit profile and a rise in Commercial & Industrial Net Charge-Offs. Meanwhile, Raymond James maintained a Strong Buy rating for UMB Financial with a price target of $135.00, highlighting confidence in the company’s diverse operating model and potential EPS growth following the Heartland acquisition.

The Heartland acquisition has been a focal point, with UMB Financial emphasizing its successful integration and the positive impact on its financial performance. The acquisition added significant assets and deposits, contributing to the company’s robust growth in loans and deposits, which increased by 27.8% and 32.3% respectively. During UMB Financial’s recent shareholder meeting, all 16 directors were elected with strong support, and KPMG LLP was ratified as the independent auditor for 2025. These developments reflect continued investor confidence in the company’s management and strategic direction.

UMB Financial’s operating efficiency improved with a ratio of 55.6%, and the company anticipates a core net interest margin between 2.75% and 2.80% for the second quarter. The firm is focused on realizing cost synergies from the Heartland acquisition and navigating potential economic impacts, such as tariffs on agricultural lending. Overall, UMB Financial remains committed to maintaining strong credit performance and exploring growth opportunities in its expanded footprint.

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