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UMB Bank parent names new president

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The Kansas City-based parent company of UMB Bank has appointed a new president.

Jim Rine is moving into the president's role for UMB Financial Corp. (Nasdaq: UMBF) in addition to his current position as president and CEO of UMB Bank, according to a news release. Mariner Kemper continues to lead the publicly traded parent company as chair and CEO.

“Jim is a dynamic leader who clearly models and demonstrates UMB values," Kemper said in the release. “He sets the bar high for all around him, effectively propelling positive outcomes and success. I have been fortunate to work beside him for many years and look forward to continuing to do so in this capacity.”

Rine hits his 30-year anniversary with UMB Bank in April. He started in 1994 as a credit analyst after earning his bachelor's degree in finance from Missouri State University.

The expansion of Rine's role with the company means day-to-day operational work in the Kansas City office for UMB Financial, according to the release.

UMB Financial, which operates two UMB Bank branches in Springfield, recently reported 2023 net income of roughly $350 million, a nearly 19% decrease from $431.7 million in 2022, according to past reporting.

UMBF shares were trading at $80.46 as of 11:28 a.m., compared with a 52-week range of $50.68 to $92.68 per share.

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