Brian Foreign

Brian Foreign from Zurich inquired about a small tick down in Assets Under Administration (AUA) on slide 36, asking if there was anything specific to note. He also asked for key lessons learned from the Heartland acquisition, specifically what went well that UMB Financial would replicate and what might be done differently in future deals.

Answer

Chairman and CEO Mariner Kemper clarified that the AUA tick down was a nuance in transfer agency, advising to focus on the total AUA, which was up linked-quarter, indicating tremendous business momentum. Regarding Heartland lessons, Mariner Kemper praised the "flawless" transaction, attributing it to a committed, smart team, a "Do No Harm" concept, and UMB ambassadors. He highlighted exceeding deposit growth expectations and realizing all synergies. President and CEO of UMB Bank, Jim Rine, emphasized the proven process and the critical importance of cultural fit. Mariner Kemper added that maintaining control (culture, management, board) was key and that expectations for growth from the acquired company should be more muted between close and conversion.