Deal Snapshot
UMB Healthcare Services to Acquire HSA Business from Old National Bank
Tuesday 28 June 2022

Missouri, US-based bank holding company UMB Financial Corp's (NASDAQ: UMBF) UMB Bank, n.a. subsidiary has executed a definitive agreement to acquire the health savings account business of Indiana, US-based Old National Bancorp's (NASDAQ: ONB) Old National Bank subsidiary, the company said.

The transaction contemplates the transfer of approximately USD 500m in client assets of which approximately USD 400m are held in deposit accounts (based on numbers as of March 31, 2022). The assets, which are comprised of approximately 157,000 accounts across more than 3,000 employer groups, will significantly expand UMB's direct-to-employer accounts.

Date Published: 28/06/2022