UMB Financial in Kansas City, Mo., has agreed to buy El Dorado Savings Bank in Placerville, Calif.
The $70.8 billion-asset UMB said in a press release that it will pay $506 million in cash and stock for the $2.4 billion-asset El Dorado. The deal is expected to close in the first quarter.
El Dorado has 35 branches, $2.1 billion in deposits and $500,000 million in loans.
The acquisition “is a significant leap forward for our retail footprint and overall presence in California and expands our UMB branch network into Nevada,” Mariner Kemper, UMB’s chairman and CEO, said in the release. “Since growing our California presence with the HTLF acquisition in 2025, the region’s vibrancy, complementary customer needs and overall business growth opportunities have made it incredibly compelling for our next phase of expansion.”
El Dorado CEO David Cook will serve as vice chairman of UMB Bank California.
Sullivan & Cromwell advised UMB. Piper Sandler and Manatt, Phelps & Phillips advised El Dorado.