UMB Financial Corporation Launches Underwritten Public Offering of Depositary Shares

Strategic Insights -

UMB Financial Corporation (Nasdaq: UMBF) has announced the launch of an underwritten public offering of depositary shares, each representing a 1/400th ownership interest in its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B. The depositary shares will be listed on The Nasdaq Global Select Market. RBC Capital Markets, LLC and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering, while Piper Sandler & Co. and Wells Fargo Securities, LLC will serve as co-managers. The net proceeds from the sale of the depositary shares will be used for general corporate purposes, including the redemption of outstanding shares of its 7.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, and the repurchase, redemption, or retirement of a portion of its 3.70% Fixed-to-Fixed Rate Subordinated Notes due 2030. The offering is being made pursuant to an effective registration statement on Form S-3 previously filed with the Securities and Exchange Commission (SEC). UMB Financial Corporation is a financial services company headquartered in Kansas City, Missouri, offering commercial banking services, personal banking services, and institutional banking services.

Key Takeaways:

  • UMB Financial Corporation has launched an underwritten public offering of depositary shares, each representing a 1/400th ownership interest in its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B.
  • The depositary shares will be listed on The Nasdaq Global Select Market and will be managed by RBC Capital Markets, LLC and J.P. Morgan Securities LLC.
  • The net proceeds from the sale of the depositary shares will be used for general corporate purposes, including the redemption of outstanding shares of its 7.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, and the repurchase, redemption, or retirement of a portion of its 3.70% Fixed-to-Fixed Rate Subordinated Notes due 2030.
  • The offering is being made pursuant to an effective registration statement on Form S-3 previously filed with the SEC.
  • UMB Financial Corporation offers commercial banking services, personal banking services, and institutional banking services.
  • The company operates branches in 15 states, including Missouri, Arizona, California, Colorado, Iowa, Kansas, Illinois, Minnesota, Nebraska, New Mexico, Oklahoma, Texas, and Wisconsin.
  • UMB Financial Corporation serves business clients nationwide and institutional clients in several countries.

Statistics:

  • $10,000 par value per share of Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B
  • $25 depositary share value per share of Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B
  • 1/400th ownership interest in a share of Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B per depositary share
  • 15 states where UMB Financial Corporation operates branches

Sources:

  • Businesswire.com: https://www.businesswire.com/news/home/20250529694925/en/
  • UMB Financial Corporation press release:

RBC Capital Markets, LLC, Brookfield Place, 200 Vesey Street, 8th Floor, New York, NY 10281, Attn: Debt Capital Markets, toll-free: 1-866-375-6829, email: rbcnyfixedincomeprospectus@rbccm.com

J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com

Piper Sandler & Co., 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, Attn: FSG-DCM, toll-free: 1-866-805-4128, email: fsg-dcm@psc.com

Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, toll-free: 1-800-645-3751, email: wfscustomerservice@wellsfargo.com

Securities and Exchange Commission (SEC): https://www.sec.gov/