Regional bank UMB Financial to buy smaller rival Heartland in $2 bln all-stock deal (updated)

UMB Financial

29/04/2024 12:42

(Adds details and context throughout)
       April 29 (Reuters) - Regional lender UMB Financial Corp
 UMBF.O  has agreed to buy its smaller rival Heartland Financial
 HTLF.O  in an all-stock deal valued at about $2 billion, the
banks said on Monday.  
    Founded in 1981, Denver-based Heartland had $19.4 billion in
assets and $16.2 billion in total deposits, as of March 31.
        Shares of Heartland rose nearly 4% in premarket trading,
while UMB Financial's stock was last up 1.2%. 
        The companies expect the deal to close in the first
quarter of 2025.

 (Reporting by Manya Saini in Bengaluru; Editing by Shailesh
Kuber)
 ((Manya.Saini@thomsonreuters.com;))