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Banking & Financial Services

UMB Financial Corp. Names Jim Rine as President, Retains Executive Position

Posted February 5, 2024 UMB Bank announced Jim Rine will be expanding his role within the parent company, taking on the new position as president of UMB Financial Corp., in addition to his current role as president and CEO of… more

Mariner Wealth Acquires Two Firms In Simultaneous Transaction, Adds $104B in AUM

Posted February 5, 2024 For its first acquisition of 2024, Overland Park-based Mariner Wealth Advisors announced it will be acquiring two financial service firms in a simultaneous transaction to create a new business vertical, Mariner Institutional. The transaction includes the… more

Survey: KC Fed Reports Steady Services Activity for January

Posted February 1, 2024 The Federal Reserve Bank of Kansas City released its January Services Survey, showing flat services activity and slow-growing selling prices in the Tenth District. The month-over-month services composite index, a weighted average of revenue and sales,… more

Commerce Bank Selects Next Mortgage President From Within

Posted February 1, 2024 Commerce Bank has appointed a veteran employee mortgage president at Commerce Bank to lead the bank’s mortgage and home equity lending business. Effective January 1, 2024, Ann Marie Prohaska became the mortgage president at Commerce Bank,… more

UMB Economic Outlook Forecasts Mild-Recession Mid-Year

Posted January 25, 2024 UMB Bank released its 2024 economic outlook pointing out several factors that could lead to a “choppy ride” for the year in addition to a mild recession. The 2024 economic outlook cites many crosscurrents, either current… more

Complete Legal Announces First Acquisition Two Weeks Following Merger

Posted January 24, 2024 Mission-based Complete Legal made its first acquisition weeks after the company merged with two other legal firms, L2 Services and Precise Legal. Complete Legal announced the acquisition of Nashville-based Frontline Managed Service’s eDiscovery unit Tuesday. Frontline… more

Palmer Square Subsidiary Enters New York Stock Exchange With $89M IPO

Posted January 18, 2024 Palmer Square Capital BDC Inc. announced its initial public offering and will begin trading on the New York Stock Exchange. Palmer Square Capital BDC arrived on the New York Stock Exchange on Thursday, under the symbol… more

Region Economy Remains Negative, Farmland Prices Index Drops

Posted January 18, 2024 Creighton University released its Rural Mainstreet Index (RMI) report for January, indicating moderate growth in the region but still failing to achieve an above-average rating. The region’s overall reading for January rose to 48.1 from 41.7… more

Fed Beige Book: Interest Rates Leads To Weak Loan Demand for Banks

Posted January 18, 2024 The Federal Reserve Board released its first Beige Book report of 2024, showing the Kansas City region’s consumer spending decreased across several categories and weak loan demand for multiple loan types. The Beige Book is a… more

OMB Bank Converts Lenexa Office to Kansas City Branch

Posted January 11, 2024 Springfield Mo.-based OMB Bank announced it has converted its Lenexa office into a retail and commercial bank branch. OMB entered the Kansas City market with its Lenexa loan production office in June located at the Lenexa… more