UMB Bank deposits are down only 1.8% since the end of 2022, and its percentage of uninsured deposits dropped substantially. The movement came after the troubles of Silicon Valley Bank and Landmark Bank emerged in early March.UMB sees about $1B in deposits return since the Silicon Valley Bank troubles
UMB Bank deposits are down only 1.8% since the end of 2022, and its percentage of uninsured deposits dropped substantially. The movement came after the troubles of Silicon Valley Bank and Landmark Bank emerged in early March.
The Kansas City-based company has had a string of tough announcements, ranging from the need to restate earnings to a push to sell assets in order to cut its debt.
A federal grand jury indicted an owner of companies that operated a pair of restaurants in Lenexa City Center.
Jeff Carson, the Kansas City leader for Enterprise Bank & Trust, said the bank's focus on building long-lasting customer relationships is why merger-and-acquisition finance is a growing part of its business.