UMB Financial agrees to buy El Dorado Savings Bank for about $506M

UMB Financial, based in Kansas City, Missouri, has agreed to acquire El Dorado Savings Bank, a federal savings bank in Placerville, California, founded in 1958, in a deal valued at about $506 million. The boards of both banks approved it unanimously.

The consideration is 52% cash and 48% stock: each El Dorado share converts into 13.553 UMB shares plus $1,958.88 in cash. Former El Dorado shareholders are expected to hold about 2% of the combined company.

El Dorado had $2.4 billion in assets, $2.1 billion in deposits and $0.5 billion in loans at 30 September. The deal adds 31 branches in California and four in Nevada, taking UMB to 227 branches in 15 states. El Dorado CEO David O. Cook will become vice chairman of UMB Bank California. Closing is expected in the first quarter of 2027, subject to regulatory approvals and El Dorado shareholder approval.