M&A deals move forward in banking industry

Two merger-and-acquisition deals impacting the banking industry have progressed, according to a pair of recent announcements.

Two Branson-area banks have finalized their merger, and UMB Bank's company received regulatory approval for a planned acquisition.

Branson banks
Table Rock Community Bank and First Community Bank of the Ozarks have officially merged, effective Dec. 9, according to a news release issued this month.

Table Rock Community Bank is the name of the combined entity. Under its parent company, southeast Missouri operation Alton Bancshares Inc., the combined institutions has assets exceeding $390 million.

“Combining our resources and expertise will enable us to better serve our customers and communities,” said Kendall Combs, chair of Alton Bancshares, in the release. “We look forward to a bright future as Table Rock Community Bank.”

Alton Bancshares, which bought Kimberling City-based Table Rock Community Bank in summer 2022, announced in July 2023 that the company would merge with its First Community Bank of the Ozarks brand in Branson, according to past reporting.

Table Rock Community Bank's website lists seven branches.

UMB acquisition
Kansas City-based UMB Financial Corp. (Nasdaq: UMBF), the parent company of UMB Bank, announced in a Jan. 10 news release that its acquisition of Denver-based Heartland Financial USA Inc. (Nasdaq: HTLF) had been given regulatory approval.

With the green light from the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System, the deal is expected to close on or around Jan. 31, officials say. Shareholders of both companies previously approved the deal, which was announced in April 2024.

“Receiving regulatory approvals is another milestone in completing this historic acquisition,” said Mariner Kemper, chair and CEO of UMB Financial Corp., in the release. “We remain extremely excited about this momentous expansion of our core services and capabilities, which will benefit both UMB and HTLF customers."

In announcing the deal last year, officials said the all-stock transaction is valued at $2 billion.

With Heartland Financial on board, UMB would have roughly $66 billion in assets and operate in 13 states, up from eight now, according to the release.