The El Dorado acquisition adds $2.1B of low-cost deposits and a 24% loan-to-deposit ratio, providing liquidity to fund UMB's organic loan growth. Monitor Q4 deposit trends for seasonal rebound and the Q1 2027 close timeline for regulatory approvals. The deal's modest accretion and small size suggest limited near-term EPS impact, but the expanded West Coast footprint could support longer-term growth.
How the stock moved after the report
⚠ Clustered NEUTRAL VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Oct 29 $134.47entry
- T+1 · 6d ago +2.22%α +2.70% · $137.46
- T+5 · due 12h ago Pending
- T+5 · todayOpen
- T+20 · in 22d Pending
- T+60 · in 3mo Pending
Price Chart
How similar events traded
Executive Summary
UMB Financial Corp filed a Rule 425 communication containing the transcript of its Q3 2026 earnings call, during which it announced the acquisition of El Dorado Savings Bank for approximately $500 million in a cash/stock transaction. The filing also reported strong Q3 results: net income of $272.3 million ($3.56 EPS), record loan production of $3.1 billion, and stable core net interest margin of 3.10%. The deal is expected to close in Q1 2027 and be modestly accretive to 2027 earnings.
Key Financial Metrics
Key Facts
- Q3 2026 net income of $272.3 million, EPS of $3.56
- Record loan production of $3.1 billion in Q3, driving 11.1% linked-quarter annualized average loan growth
- Acquisition of El Dorado Savings Bank for approximately $500 million (1.8 million UMB shares at fixed exchange ratio of 13.553x)
- El Dorado has $2.1 billion in deposits (88 bps cost), $500 million in loans, 35 branches in CA/NV
- Deal expected to close in Q1 2027, subject to regulatory and shareholder approvals
- Core net interest margin stable at 3.10% in Q3, expected flat in Q4
- CET1 ratio of 11.50% at quarter end; deal expected to be 15-20 bps dilutive to CET1 at close
- Non-interest expense of $399.5 million, virtually flat from prior quarter; Q4 expense guided to $400M-$405M
- Fee income (ex-items) up 3.9% sequentially to ~$218 million run-rate
- Company redeemed $150 million subordinated debt on September 15, 2026
Financial Impact
Acquisition of El Dorado for ~$500 million (1.8M shares); Q3 net income $272.3M; record loan production $3.1B; deal modestly accretive to 2027 EPS
Risk Factors
- Regulatory approval risk for the El Dorado acquisition, including OCC approval
- Integration risk, though management characterizes it as a branch-like deal
- Potential dilution of 15-20 bps to CET1 at close, though expected to be recouped quickly
- Loan production may moderate from record Q3 levels as guided
- Rising deposit costs and FOMC rate hikes could pressure net interest margin
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001193125-26-437993 |
| Document: 0001193125-26-437993-index-headers.html | 0001193125-26-437993 |
| Document: 0001193125-26-437993-index.html | 0001193125-26-437993 |
| Document: 0001193125-26-437993.txt | 0001193125-26-437993 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 1d ago | Insider Cluster | $139.91 | awaiting T+1 | awaiting T+1 | $134.70 (−3.72%) |
Oct 30, 2026 6d ago | 3 | $137.46 $136.09 | ▼ −1.00% | ▼ −1.30% | $134.70 (−2.01%) |
Oct 30, 2026 6d ago | 144 | $137.46 $136.09 | ▼ −1.00% | ▼ −1.30% | $134.70 (−2.01%) |
Oct 30, 2026 6d ago | 144 | $137.46 $136.09 | ▼ −1.00% | ▼ −1.30% | $134.70 (−2.01%) |
Oct 30, 2026 6d ago | 144 | $137.46 $136.09 | ▼ −1.00% | ▼ −1.30% | $134.70 (−2.01%) |
Oct 30, 2026 6d ago | 425 | $137.46 $136.09 | ▼ −1.00% | ▼ −1.30% | $134.70 (−2.01%) |
Oct 30, 2026 6d ago | 144 | $134.47 $137.46 | ▲ +2.22% | ▲ +2.70% | $134.70 (+0.17%) |
Oct 29, 2026 7d ago | 425 | $134.47 $137.46 | ▲ +2.22% | ▲ +2.70% | $134.70 (+0.17%) |
Oct 29, 2026 7d ago | 8-K | $134.47 $137.46 | ▲ +2.22% | ▲ +2.70% | $134.70 (+0.17%) |
Oct 28, 2026 8d ago | 425 | $136.16 $134.47 | ▼ −1.24% | ▲ +0.53% | $134.70 (−1.07%) |
US Market Status
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