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M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: UMB Financial Corporation
Actual Acquirer: UMB Financial Corporation
Target: Marquette Financial Companies
Deal Type: Bank & Thrift Company
Agreement Date12/15/2014
Announcement Date12/15/2014
Announced Deal Value ($M)182.52
Completion Date5/31/2015
Announced Deal Value Per Share ($)485.40
Consideration Breakout
Common Stock ($M)179.7
Common Stock Issued3,470,000
Deal Pricing Ratios
Price / Book (%)147.6138.9
Price / Tangible Book (%)157.3NA
Price / Earnings (x)43.936.9
Price / Deposits (%)19.3018.77
Price / Assets (%)13.7213.30
Tangible Book Premium/ Deposits (%)10.328.62
Deal Terms
Description of Consideration
UMB Financial Corp. exchanged 9.2295 shares of its common stock for each outstanding share of Marquette Financial Cos. UMB Financial Corp. also assumed $103.1 million of long-term debt obligations. UMB Financial Corp. will expand in Maricopa County, Ariz., by eight branches to be ranked No. 12 with a 1.01% share of approximately $70.27 billion in total market deposits, will enter Denton County, Texas, with two branches to be ranked No. 14 with a 1.05% share of approximately $8.23 billion in total market deposits, will enter Tarrant County, Texas, with one branch to be ranked No. 25 with a 0.47% share of approximately $31.69 billion in total market deposits and will enter Dallas County, Texas, with two branches to be ranked No. 46 with a 0.11% share of approximately $136.99 billion in total market deposits.
Accounting MethodAcquisition
In-State Transaction?No
Merger of Equals?No
Geographic Expansion?Partial Overlap
Goodwill Generated ($000)22,489
Estimated Cost Savings (%)23.00
Estimated Cost Savings ($000)14,221
Est. Restructuring Charges ($000)19,500
Maximum Termination Fee ($000)NA
Minimum Termination Fee ($000)0
Exchange Ratio (Common For Common)9.229500
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementNo
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA
Core Deposit Intangibles ($000)11,030
Additional Deal Information
Est. Cost
Est. Cost
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerYesRBC Capital Markets LLC
SellerYesD.A. Davidson & Co.

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesSullivan & Cromwell LLP
SellerYesBriggs & Morgan PA

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