UMB Expands HSA Business with Acquisition of 8,000 Accounts from Old National Bank

UMB Financial Corporation acquired over 8,000 Health Savings Accounts (HSAs) and $32.5 million in related deposits from Old National Bank. This strengthens UMB's HSA platform, offering tax-advantaged tools for individuals and employers to manage medical expenses. The acquisition expands UMB's healthcare services portfolio, supporting 5.2 million spending account cards, 1.6 million HSAs, and $4.6 billion in assets and deposits.

UMB Financial Corporation (Nasdaq: UMBF) has completed the acquisition of over 8,000 Health Savings Accounts (HSAs) and approximately $32.5 million in related deposits from Old National Bank. This acquisition is part of UMB's ongoing effort to strengthen its growing HSA platform, offering individuals and employers tax-advantaged tools to manage medical expenses. The newly acquired accounts expand UMB's healthcare services portfolio, which 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 [1].

The acquisition is a strategic move for UMB, positioning it as a single-source provider for both individual and employer healthcare benefit account needs. The company's comprehensive suite of healthcare services includes HSAs, Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), as well as COBRA administration and commuter benefits. New customers will benefit from UMB's enhanced technology services, online investment tools, and mobile account management options [2].

Brian Hutchin, director of healthcare services at UMB, emphasized the increasing importance of HSAs for managing healthcare costs and retirement planning. He noted that this investment reflects UMB's commitment to maintaining its position as an industry leader and delivering innovative, customer-focused solutions [3].

The total purchase volume on UMB's healthcare debit cards exceeded $11.9 billion for the calendar year 2024, underscoring the company's strong performance in the healthcare services sector. For more information about UMB's HSA offerings, please visit UMB.com/HSA [4].

References:
1. [1] https://www.morningstar.com/news/business-wire/20250902299570/umb-healthcare-services-completes-acquisition-of-health-savings-account-portfolio-from-old-national-bank
2. [2] https://www.marketscreener.com/news/umb-healthcare-services-completes-acquisition-of-health-savings-account-portfolio-from-old-national-ce7c50d3de8ff520
3. [3] https://www.businesswire.com/news/home/20250902299570/en/UMB-Healthcare-Services-Completes-Acquisition-of-Health-Savings-Account-Portfolio-from-Old-National-Bank
4. [4] https://www.nasdaq.com/articles/umb-expands-hsa-business-acquisition-8000-accounts-old-national-bank