UMB Financial to Acquire El Dorado Savings Bank for 6 Million

UMB Financial to Acquire El Dorado Savings Bank for $506 Million

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UMB Financial to Acquire El Dorado Savings Bank in $506 Million Deal

A Kansas City, Missouri financial services company has agreed to purchase El Dorado Savings Bank in a transaction valued at $506 million. The deal, announced on Oct. 27, relies on 52 percent cash and 48 percent stock to combine the two regional institutions and expand operations across Nevada and California.

El Dorado Savings Bank brings 31 branches in California alongside locations in Carson City, Gardnerville, Sparks, and Stateline. Founded in 1958 and headquartered in Placerville, California, the bank will integrate into a larger network that will span 227 branches across 15 states once the acquisition finishes.

“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 Corp. Chairman and CEO Mariner Kemper.

UMB Expands in California and Appoints David O. Cook

The transaction follows UMB’s earlier expansion into California through its 2025 acquisition of Heartland Financial USA Inc., known as HTLF. According to Mariner Kemper, the region’s vibrant market and business growth opportunities made a subsequent purchase compelling.

El Dorado Chief Executive Officer David O. Cook will transition to serve as vice chairman of UMB Bank California following the merger.

“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.”

Under the terms approved unanimously by the boards of directors of both companies, El Dorado shareholders will receive a fixed exchange ratio of 13.553 shares of UMBF common stock plus $1,958.88 in cash for each outstanding share. Former El Dorado shareholders are expected to own approximately 2 percent of the combined company after the deal closes.

Operations will continue independently until the transaction is finalized. The agreement remains subject to customary closing conditions, including regulatory approvals and a vote by El Dorado shareholders, with completion anticipated in the first quarter of 2027.

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