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Banking & Financial Services

Q&A With… Eric Kelley, UMB Chief Investment Officer

Posted July 18, 2024 Updated at 3:20 p.m., July 19, 2024 Q: For a year that began with some apprehension about a looming recession, 2023 proved quite kind to investors. What, in your opinion, were the drivers of better-than-average returns… more

Fed Beige Book: Fewer New Job Postings Among a Spike in Consumer Spending

Posted July 17, 2024 The Federal Reserve Board released the Beige Book for July and it shows the Tenth District is cooling in hiring activity with a robust bump in consumer spending. Banks in the Tenth District, or the Federal… more

U.S. Unemployment Claims Dipped More Than Expected in June

Posted July 10, 2024 Initial claims for state unemployment benefits for unemployment benefits fell more than expected as interest rates remain steep. For the ending July 6, initial claims decreased by 17,000 to a seasonally adjusted 222,000 compared to the… more

Inflation Falls in June for First Time Since Pandemic Height

Posted July 10, 2024 Inflation in the United States cooled in June, according to the latest report from the Bureau of Labor Statistics. The Consumer Price Index (CPI) declined 0.1% after being unchanged in May. This marks the first time… more

First Federal Bank of Kansas City Adds Jenny Michaels as Chief Risk Officer

Posted June 27, 2024 First Federal Bank of Kansas City has hired Jenny Michaels as its next chief risk officer. Michaels succeeds Mike Sidebottom, who plans to retire after 42 years at the bank, according to a release Thursday. With… more

Academy Bank To Acquire Colorado-based Mountain View Bank of Commerce

Posted June 6, 2024 Academy Bank announced it has entered into a definitive agreement to acquire Colorado-based Mountain View Bank of Commerce. Academy Bank and its parent company, Dickinson Financial Corporation, announced the transaction is expected to close in the… more

UMB Distribution Services, LLC to be Acquired by ACA Group

Posted May 30, 2024 Updated at 4:47 p.m., May 30, 2024 UMB Distribution Services, LLC, a subsidiary of UMB Financial Corporation, is being acquired with the deal expected to close in the fourth quarter. ACA Group announced it plans to… more

First Federal Bank of Kansas City Restructures to Access New Avenues to Raise Capital

Posted May 30, 2024 Leawood-based First Federal Bank of Kansas City reorganized its corporate structure resulting in the formation of a new mutual holding company called Cosperity Bancorp, Inc. As a result of the restructuring, First Federal Bank is now… more

Fed Beige Book: CRE Loan Demand Declines Due to Costs

Posted May 30, 2024 The Federal Reserve Board released the Beige Book for May indicating moderate growth in the Tenth District and banks anticipate diminishing demand for commercial real estate loans. The Tenth District, or the Federal Reserve Bank of… more

Bank Midwest Names Charlie Koch as New President

Posted May 23, 2024 Bank Midwest, a division of NBH Bank, announced the appointment of Charlie Koch as its new president, effective June 15, 2024. Koch succeeds Nicole Van Denabeele, who joined NBH Bank in 2018 as chief accounting officer… more