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UMB Financial Corporation Reports $272.3 Million in Q3 Net Income and Announces Acquisition of Eldorado Savings Bank

The Motley Fool +1 · ·by G4L

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UMBF UMB Financial Corp
$135.86 -0.58%
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  1. 1UMB Financial Corporation recorded a net income of $272.3 million in the third quarter.
  2. 2UMB Financial Corporation announced the acquisition of Eldorado Savings Bank for approximately $500 million.
  3. 3The acquisition secures $2.1 billion in deposits from Eldorado Savings Bank, achieving an 18% increase in the total number of branches for UMB Financial Corporation.

So what's the key point?

UMB Financial Corporation earned $272.3 million in profit during the third quarter and decided to buy another bank. This acquisition will increase the number of branches by 18% and expand the company's size.

Source The Motley Fool +1 · View original ↗

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