The Bank Slate


UMB buys Old National’s HSA business

UMB Financial in Kansas City, Mo., has acquired the health savings account business of Old National Bancorp in Evansville, Ind.

The $46.2 billion-asset Old National disclosed in a regulatory filing that about $382 million of HSA-related deposits were transferred to the $37.6 billion-asset UMB.

UMB paid a roughly $92 million premium to Old National.

When the deal was announced earlier this year, the companies said that about $500 million of client assets, including $400 million held in deposit accounts, would change hands.

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