U.S. Bank Acquires Indiana Corporate Trust Business from UMB Bank; Terms Not Disclosed
U.S. Bancorp (NYSE: USB) announced today that its lead bank, U.S. Bank National Association, has entered into a definitive agreement to purchase the Indiana corporate trust business of UMB Bank, n.a., a subsidiary of UMB Financial Corporation (NASDAQ: UMBF).
The U.S. Bank Global Corporate Trust Services team will work closely with the UMB Bank Indiana representatives to ensure a seamless transition. U.S. Bank is committed to providing its new customers with the same high level of quality services that current U.S. Bank corporate trust customers have come to expect.
Terms of the agreement are not being disclosed. The transaction is expected to close on March 2, 2012.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.