UMB Expands HSA Business With Acquisition Of 8,000 Accounts From Old National Bank

UMB Financial

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(RTTNews) - UMB Financial Corporation (UMBF) has acquired over 8,000 Health Savings Accounts or HSAs and approximately $32.5 million in related deposits from Old National Bank, linked to its purchase of Bremer Bank.

The transaction strengthens UMB's fast-growing HSA platform, offering individuals and employers tax-advantaged tools to manage medical expenses.

The new account holders gain access to UMB's enhanced technology, mobile account management, and investment tools. UMB's healthcare services portfolio now supports 5.2 million spending account cards and nearly 1.6 million HSAs totaling $4.6 billion in assets and deposits as of June 30, 2025, with 2024 debit card purchase volume exceeding $11.9 billion.

Brian Hutchin, director of healthcare services at UMB, noted that HSAs are becoming vital for managing healthcare costs and retirement planning. He said this investment underscores UMB's commitment to leadership in healthcare services and to delivering innovative, customer-focused solutions.

The addition of these accounts also broadens UMB's full suite of healthcare offerings, including HSAs, FSAs, HRAs, COBRA, and commuter benefits, positioning the company as a one-stop provider for both individuals and employers.

UMBF currently trades at $120.3 or 1.31% lower on the NasdaqGS.