UMB Financial agrees to buy El Dorado Savings Bank for about $506 million
El Dorado, based in Placerville, California, has $2.4 billion in assets and 35 branches across California and Nevada.
Published
UMB Financial has agreed to buy El Dorado Savings Bank in a deal valued at about $506 million. The price is 52 per cent cash and 48 per cent stock. Each El Dorado share will be exchanged for 13.553 shares of UMB common stock plus $1,958.88 in cash.
El Dorado is headquartered in Placerville, California, and has $2.4 billion in assets. Its 31 branches in California and 4 in Nevada would join UMB's network. Former El Dorado shareholders are expected to own about 2 per cent of the combined company.
The share mix is the detail to watch. UMB pays much of the price in its own shares, yet former El Dorado holders would own only about 2 per cent of the combined company. Existing UMB shareholders keep nearly all of it. The 35 added branches would widen UMB's reach in California and Nevada, but only if regulators and El Dorado shareholders approve the deal. Closing is expected in the first quarter of 2027.
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