[Congressional Record (Bound Edition), Volume 156 (2010), Part 4]
[Extensions of Remarks]
[Page 4947]
[From the U.S. Government Publishing Office, www.gpo.gov]




                      CONGRATULATIONS TO UMB BANK

                                 ______
                                 

                          HON. EMANUEL CLEAVER

                              of missouri

                    in the house of representatives

                       Wednesday, March 24, 2010

  Mr. CLEAVER. Madam Speaker, Chairman Frank and I would like to extend 
our congratulations to UMB Bank, its officers, directors, shareholders 
and employees on being designated by Forbes magazine as the second-best 
bank in America in 2009. UMB Financial Corporation headquartered in 
Kansas City, Missouri, is a $10.2 billion bank founded in 1913 with 
first day deposits of $1,100.00. Six generations of the Kemper family 
have owned and/or operated UMB. Currently Mariner Kemper is the 
Chairman and Chief Executive Officer, Peter deSilva, is the President 
and Chief Operating Officer, Peter Genovese is the Vice Chairman and 
Michael Hagedorn is the Chief Financial Officer. UMB operates in seven 
states--Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and 
Arizona and is the second largest bank holding company headquartered in 
Missouri.
  The Bank's shared corporate vision is ``To be recognized for THE 
unparalleled customer experience.'' One of the corporation's shared 
values is ``Customers First--We do the unparalleled to create an 
environment that consistently exceeds the expectations of our 
customers.''
  UMB Bank embodies strong community involvement in all the communities 
it serves. From financing for small businesses, to providing working 
capital loans to companies that support job creation and retention, to 
employee volunteerism and corporate donations UMB stands tall with 
their communities. In fact UMB just received an ``Outstanding'' rating 
from the Office of the Comptroller of the Currency in their most recent 
public evaluation of UMB's community lending and participation.
  When the largest banks in America were trying to repay billions of 
dollars in TARP funds and to improve their balance sheets and to deal 
with the impact of severe economic problems in the states where they do 
business, UMB was keeping to their business strategy, conservative with 
slow, steady growth. Their non-performing loans as a percent to total 
loans was 0.7 percent, the fourth best in this category in the country; 
reserves as a percentage of nonperforming loans was 210 percent; and 
their Tier 1 capital ratio was 13.5 percent. Their stock trades at 1.5 
times its book value. In a September 2009 TheStreet.com article ``UMB's 
Kemper Proves Boring Is Better: Best In Class'', Mariner Kemper said 
``The Street, the investor population, believed that we . . . could 
leverage [our] earnings streams more, if we had taken the same risks as 
the rest of the industry. I'm thrilled to be able to stand up and say: 
Those strategies worked for us! We didn't erase 20 years of earnings by 
taking three years of risks.''
  To be rated the second-best bank in America in 2009 by Forbes out of 
the 100 largest banks and thrifts in America is ``A great source of 
pride for everyone at UMB'', Mariner Kemper said in a January press 
release. He went on to say, ``This ranking also shows that the regional 
banking model works. UMB sticks to our time-tested prudent business 
practices, such as making loans within our territory, building 
relationships with our customers and understanding that strong 
underwriting practices produce quality results. Our standards have 
remained unchanged in all economic conditions. This principle, as well 
as a focus on a diversified income stream from fee-based businesses, 
affords us steady growth.''
  Madam Speaker, again we offer UMB Bank and all its employees, 
officers, directors and shareholders our heartiest congratulations on a 
job well done.

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