KANSAS CITY, Mo., Oct 28 — UMB Financial Corporation (Nasdaq: UMBF) announced today they have entered into a definitive agreement under which UMB Financial Corporation (UMB) will acquire El Dorado Savings Bank, F.S.B. (El Dorado) in a 52% cash, 48% stock transaction valued at approximately $506 million.
Founded in 1958, El Dorado is headquartered in Placerville, Calif., and has $2.4 billion in assets, $2.1 billion in total deposits, and $0.5 billion in total loans, as of September 30, 2026. The combination of companies will significantly strengthen UMB’s physical and brand presence on the West Coast.
“This milestone is a significant leap forward for our retail footprint and overall presence in California and expands our UMB branch network into Nevada,” said UMB Financial Corporation Chairman and CEO Mariner Kemper. “Since growing our California presence with the HTLF acquisition in 2025, the region’s vibrancy, complementary customer needs and overall business growth opportunities have made it incredibly compelling for our next phase of expansion.”
This transaction meaningfully augments UMB’s West Coast retail presence, adding 31 branches in California and four in Nevada, expanding UMB’s overall network to 227 branches across 15 states.
El Dorado Chief Executive Officer David O. Cook will serve as vice chairman, UMB Bank California.
“This transaction will greatly benefit our customers, communities and shareholders,” Cook said. “We will be able to offer more products and services and do even more to support and uplift our communities. We look forward to continuing the great work we’ve been doing in an even more meaningful and impactful way.”
Under the terms of the agreement, which were unanimously approved by the boards of directors of each company, El Dorado shareholders will receive a fixed exchange ratio of 13.553 shares of UMBF common stock, plus an additional $1,958.88 in cash for each outstanding share of El Dorado stock. Following completion of this contemplated transaction, former El Dorado shareholders are expected to collectively own approximately 2% of the combined company.
UMB is deeply invested in the communities in which it does business, providing support through products, services, and investments as well as corporate and associate giving. UMB is committed to being a strong financial steward and will leverage its current Community Benefits Plan and business strategies to serve the customers and communities in its newly expanded footprint.
Until the transaction closes, the companies will continue to operate independently. The transaction is subject to customary closing conditions, including regulatory approvals and approval by the shareholders of El Dorado, and is expected to close in the first quarter of 2027.
Sullivan & Cromwell LLP served as legal counsel to UMB. Piper Sandler & Co. served as financial advisor and Manatt, Phelps & Phillips, LLP served as legal counsel to El Dorado.