UMB Financial Corporation affiliate UMB Scout Insurance Services Inc. is acquiring Chapman-Sander, an independently-owned insurance agency in St. Louis, Mo., in an all-cash deal, UMB announced. Details of the transaction are not disclosed.
The agency will operate as an office of UMB Scout Insurance Services and will retain the Chapman-Sander name. Ron Burlison will remain in his role as president of Chapman-Sander, reporting to Roger Forystek, president of UMB Scout Insurance.
While UMB has offered insurance products for some time the transaction represents its first acquisition of an independent insurance agency, Forystek said.
Chapman-Sander employs about 20 associates who are expected to be retained.
UMB Financial Corporation is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to both individual and business customers nationwide. Its banking subsidiaries own and operate 136 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona.
Source: UMB, www.umb.com
Topics Mergers & Acquisitions
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