UMB Bank continues growth in DFW market

Michael Garner-c

UMB Bank Market Share 2020

UMB ranks No. 1 for market share in its headquarters of Kansas City with 23% of the total market share.

UMB is ranked in the Top 5 for market share in five cities within its footprint, including:

  • Kansas City (No. 1)
  • Colorado Springs (No. 5 and the first time to be in the Top 5)
  • St. Joseph (No. 5 and the first time to be in the Top 5)
  • Warrensburg (No. 5)
  • Atchison (No. 3)

In other major markets, UMB ranks in the Top 10 for market share, including:

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  • St. Louis (No. 10 and first time to be in Top 10)
  • Joplin (No. 9)
  • Salina (No. 6)
  • Columbia (No. 10 and first time to be in Top 10)

Market share in the Dallas-Fort Worth region jumped nine spots to No. 52, where the bank is up 81% year-over-year vs. the market growth of 28.2%

Market share growth in Denver was up 40.9% vs. the market growth of 22.3%

Source: UMB Bank

The FDIC has released its latest Summary of Deposits report as of June 30, 2020, and the reports showed that UMB market share in the Dallas-Fort Worth MSA jumped 9 spots to 52, up from 61 last year. The bank is up 81% year-over-year vs. the market growth of 28.2%, according to the FDIC’s statistics.

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Kansas City-based UMB Bank entered the Texas market in 2013 – with one person in Dallas – and expanded into Fort Worth with the acquisition of Marquette Financial Companies and Meridian Bank Texas.

UMB Bank added an investment banking team and a private wealth group in 2016, then made a bigger splash when it moved into the high-profile 777 Main building in 2018.

UMB likes to have downtown banks in all of its major metro locations “to really be a center of that community, because we invest heavily in the communities that we do business in, not only financially, but with our people,” Michael Garner, Texas and Oklahoma regional president, said before the bank moved into the building.

Garner said things have gone well for the bank and in the Dallas and Fort Worth markets in particular this year.

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“Things have gone well for us locally, and it’s hard work and being diligent with our clients and making sure we’re staying ahead of things with them. And it’s been going very well,” he said.

Garner said the bank has used technology to its advantage during the COVID-19 crisis to remain connected to clients.

“It [COVID-19] took away some of the in-person contact but picking up the phone and having just an old-fashioned conversation went a long way,” he said. “Just being able to pick up the phone and have a conversation versus relying on email and text was helpful. People were eager to talk to one another and so I found that very insightful.”

Garner said the UMB clients have also done well reaching out to the bank, utilizing the UMB app and mobile deposits during the pandemic.

“They were already moving in that direction, so the impact didn’t really – in my mind – affect them as much because they were already doing the things to be efficient as a business in the first place. And now, getting access to see their banker in person, that’s about the only thing that was impacted, but we’ve leveraged the video technology to be able to have that. While it’s not in person, you can see each other face to face via video and make the best of what technology has provided us,” he said.

Regarding UMB Bank’s growth in the market, Garner pointed to “a great group of bankers.”

“They have just done an outstanding job of helping build our brand, attract great customers to the bank and really helping us execute on our business strategy going into the market. And I think that’s been probably the biggest thing for us,” he said.

Garner said that despite UMB Bank’s size ($29.8billion in assets), the bank tries to be “nimble, flexible and responsive.”

“That goes a long way when you’re trying to run an organization and not just get tied up in policy and guidelines,” he said. “It’s trying to find an answer. It’s trying to find a resolution for your client who maybe has an interesting situation. And we try to do that and try to take that approach.”

UMB has been around for 107 years, Garner noted.

“It has been a very stable organization, and it’s the trust and relationships we built with clients that really are what I think the foundation is of who UMB as an organization has become. And so that really helped propelled us through this time,” he said.

In the real estate area, UMB Bank is still finding a lot of ways to do a lot of real estate in today’s market, said Greg Stuteville, Senior Vice President and Regional Commercial Real Estate Manager at UMB in Fort Worth

“We’re being more cautious and we are looking at different property types a little bit differently today, but there’s not even one property type that we’re absolutely saying that we’re not going to do any of here over the next three to six months or a year,” he said.

“We are continuing to do those things where we’re very much supporting our customers. We look at this kind of time as a great time for us to try to find new, good customers who possibly don’t feel that they’re being treated as well as they’d like to at their bank. UMB usually excels in these kinds of markets after the downturn,” Stuteville said.

Stuteville said that in 2010, the bank found a lot of new customers following the 2008-2009 recession.

Garner said the bank plans to grow its real estate business.

“We’re definitely in the market for new opportunities and have capital to grow within our real estate group,” he said.