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Regional Bank UMB Financial to Buy Rival Heartland Financial in a $2 Billion All-Stock Deal

  • April 29, 2024


U.S. regional bank UMB Financial Corporation (UMBF) has agreed to buy rival Heartland Financial USA, Inc. (HTLF) in an all-stock deal valued at $2 billion.

Heartland stockholders will receive 0.55 shares for each stock they own, valuing the company at $45.74 per share, representing a premium of 28.05% based on the stock’s last close.

The merger of the regional banks comes after the collapse of Philadelphia-based Republic First Bank (FRBK) on April 26 and highlights the turmoil in the U.S. banking sector since last year, as increased investments in commercial real estate have harmed their financial health.

The Denver-based Heartland Financial USA had $19.41 billion in assets and $16.2 billion in deposits, as of March 31. The transaction will take Missouri-based UMB’s total assets to $64.5 billion and expand its footprint across California, Minnesota, New Mexico, Iowa, and Wisconsin.

The deal has a termination fee of $70 million and is expected to close in the first quarter of 2025.

For in-depth information on the deal’s metrics, please visit:
Deal Metrics for the acquisition of Heartland Financial USA, Inc. (HTLF) by UMB Financial Corporation (UMBF)

Editor’s Note: Baranjot Kaur contributed to this article.

Disclaimer: This article is for informational purposes only. It is advised to conduct your own research before making any investment decisions. The completeness or accuracy of the information provided in this article is not guaranteed.