UMB Financial Corporation Totally Explained

Everything about Umb Financial Corporation totally explained

UMB Financial Corporation is 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 March 31, 2008, it had $8.9 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 Kemper 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 and changed its name to United Missouri Bancshares, Inc. 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.

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