UMB Bank pens acquisition

UMB Financial Corp. (Nasdaq: UMBF), which has two UMB Bank branches in Springfield, is seeking to bolster its financial strategy work through an acquisition.

The Kansas City-based company announced the pending purchase of Hybarger & Associates, a Bedford, Texas, company that provides services including interest rate risk analysis, budgeting and forecasting, proprietary reporting and liquidity and capital analysis. The financial terms of the deal were not disclosed in a news release.

“UMB has a long history of serving community banks, and this acquisition further demonstrates our commitment to supporting them and the critical services they provide," said Steve Kitts, executive vice president and executive director of middle markets sales for UMB's capital markets division, in the release.

Hybarger & Associates operates in the Dallas, Houston and Kansas City markets. Its principal owner, Lance Caldwell, and his team are joining UMB.

The acquisition is expected to close in the second quarter, according to the release.

During the first quarter, UMB reported net income of $92.4 million, a nearly 13% drop from a year earlier.

UMBF shares were trading at $59.81 as of 9:45 a.m., compared with a 52-week range of $50.68 to $99.19 per share.