Regulators approve UMB’s acquisition of Marquette Financial

Kansas City-based UMB Financial Corp. said it gained regulatory approval to acquire Marquette Financial Cos. and merge their banks.

Marquette, owned by the Pohlad family, which owns the Minnesota Twins baseball team, and UMB announced their merger plans in December.

The deal, which is expected to be completed May 31, will add 13 branches in Arizona and Texas, two specialty lending businesses, an asset management firm and other lending operations to UMB.

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