UMB Purchases 8,000 Health Savings Accounts From Old National Bank

Posted September 2, 2025

UMB Financial Corporation announced it has acquired over 8,000 health savings accounts to its portfolio from Old National Bank, formerly Bremer Bank.

As part of the deal, UMB also gained approximately $32.5 million in related deposits from Old National Bank associated with its recent acquisition of Bremer Bank, according to a Tuesday release. Old National officially closed its acquisition deal with Bremer on May 1.

Through its latest acquisition, UMB hopes to grow its HSA business, which provides medical expense tax-advantaged savings solutions to clients. In addition to HSA, UMB’s healthcare suite includes Flexible Spending Accounts, Health Reimbursement Arrangements, and COBRA administration and commuter benefits.

“Health Savings Accounts are an increasingly important tool for individuals and families looking to manage today’s healthcare expense demands while also planning for future retirement needs,” director of healthcare services at UMB, Brian Hutchin, said in the release. “This investment to grow our healthcare services business reflects our ongoing commitment to maintaining our position as an industry leader and delivering innovative, customer-focused solutions to our accountholders.”

UMB Healthcare Services provides solutions to 5.2 million healthcare spending accounts and services nearly 1.6 million HSAs with more than $4.6 billion in HSA assets and deposits, as of June 30. UMB’s total purchase volume on healthcare debit cards exceeded $11.9 billion for the calendar year 2024.

UMB Financial Corporation’s most recent acquisition was in February, when the bank closed a $2 billion merger deal with Heartland Financial, the largest acquisition in UMB’s history.