UMB Bank acquired Heartland Financial in January. (Max Scheinblum/BusinessDen)
UMB Bank has shuttered a handful of Denver branches following its acquisition of the parent company of Citywide Banks.
Kansas City, Missouri-based UMB closed three Citywide branches Oct. 9, marking the end of a nearly yearlong process of folding Heartland Financial into UMB’s multistate footprint. UMB acquired Denver-based Heartland, also known as HTLF, at the end of January for $2 billion.
The affected branches were at 55 Madison St. in Cherry Creek, 1800 Larimer St. in LoDo and 6500 E. Hampden Ave. in the Hampden neighborhood.
With the HTLF acquisition, “UMB doubled our branch network,” UMB CEO Mariner Kemper said in a statement. “We experienced a very small location overlap, which resulted in the decision to close three Colorado branches. Each affected branch has another location that is less than one mile away.”
In the wake of the closures, there are no remaining Citywide-branded branches.
The Cherry Creek and LoDo locations were leased. UMB owns the Hampden real estate.
UMB spokeswoman Kaele Palmer declined to comment on the bank’s plan for the property. But the 18,000-square-foot building on an acre is under contract to be sold, according to a LoopNet listing.
UMB still has 25 branches across Colorado, 20 of them in the Denver metro. Palmer noted that the bank has new locations in the works, including one that will open in the Bonnie Brae neighborhood within the next two years.
The HTLF acquisition bumped UMB into the top five of Denver metro banks in terms of deposit share, according to data released by the Federal Deposit Insurance Corp. last month. It accounted for 4.2% of the region’s $108 billion held as of June 30, up from the 2.1% it held the year before. Then it placed 10th on the list, and HTFL sat just ahead at ninth with 2.5%.
UMB also recently announced a four-year deal to be the official bank of the Denver Nuggets.
UMB Bank acquired Heartland Financial in January. (Max Scheinblum/BusinessDen)
UMB Bank has shuttered a handful of Denver branches following its acquisition of the parent company of Citywide Banks.
Kansas City, Missouri-based UMB closed three Citywide branches Oct. 9, marking the end of a nearly yearlong process of folding Heartland Financial into UMB’s multistate footprint. UMB acquired Denver-based Heartland, also known as HTLF, at the end of January for $2 billion.
The affected branches were at 55 Madison St. in Cherry Creek, 1800 Larimer St. in LoDo and 6500 E. Hampden Ave. in the Hampden neighborhood.
With the HTLF acquisition, “UMB doubled our branch network,” UMB CEO Mariner Kemper said in a statement. “We experienced a very small location overlap, which resulted in the decision to close three Colorado branches. Each affected branch has another location that is less than one mile away.”
In the wake of the closures, there are no remaining Citywide-branded branches.
The Cherry Creek and LoDo locations were leased. UMB owns the Hampden real estate.
UMB spokeswoman Kaele Palmer declined to comment on the bank’s plan for the property. But the 18,000-square-foot building on an acre is under contract to be sold, according to a LoopNet listing.
UMB still has 25 branches across Colorado, 20 of them in the Denver metro. Palmer noted that the bank has new locations in the works, including one that will open in the Bonnie Brae neighborhood within the next two years.
The HTLF acquisition bumped UMB into the top five of Denver metro banks in terms of deposit share, according to data released by the Federal Deposit Insurance Corp. last month. It accounted for 4.2% of the region’s $108 billion held as of June 30, up from the 2.1% it held the year before. Then it placed 10th on the list, and HTFL sat just ahead at ninth with 2.5%.
UMB also recently announced a four-year deal to be the official bank of the Denver Nuggets.
