We advised UMB on the offering

Davis Polk advised UMB Financial Corporation in the offering of 12,000,000 depositary shares, each representing a 1/400th ownership interest in a share of its 7.750% fixed-rate reset non-cumulative perpetual preferred stock, Series B, par value $0.01 per share, with a liquidation preference of $25 per depositary share. The net proceeds totaled approximately $294.5 million. The depositary shares will trade on the Nasdaq Global Select Market under the symbol “UMBFO.”

UMB Financial Corporation is a financial services company headquartered in Kansas City, Missouri. UMB offers commercial banking, which includes comprehensive deposit, lending, investment and retirement plan services; personal banking, which includes comprehensive deposit, lending, wealth management and financial planning services; and institutional banking, which includes asset servicing, corporate trust solutions, investment banking and healthcare services.

The Davis Polk capital markets team included partner Pedro J. Bermeo, counsel Meaghan Kennedy and associate Jenny (Jingjing) Li. Partner Aliza Slansky and associates Dmitry Dobrovolskiy and Zoey Chau provided tax advice. Partner Margaret E. Tahyar and counsel Suiwen Liang provided financial institutions advice. All members of the Davis Polk team are based in the New York office.

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