KANSAS CITY, Mo., May 26, 2010 (BUSINESS WIRE) –UMB Bank, n.a., the lead bank of UMB Financial Corporation /quotes/comstock/15*!umbf/quotes/nls/umbf (UMBF 38.75, +0.20, +0.52%) , announces the acquisition of 5Star Bank’s credit card portfolio. 5Star Bank is a provider of banking services for Armed Forces Benefit Association (AFBA) a 63-year-old organization of members of the uniformed services of the United States. the agreement closed on April 26, 2010, and included $66 million in assets and 63 agent bank credit card relationships. Terms of the deal will not be disclosed.

“Our evaluation and due diligence of 5Star’s credit card portfolio uncovered a near mirror image of UMB’s credit card program,” said George Schmelzel, senior vice president of UMB Credit Card Services. “So from the standpoint of service, operations and customer base, this was a smart and easy decision for us. but more importantly, the customers will continue to experience the same level of service with UMB they have come to expect from 5Star Bank.”

“After a rigorous RFP process, we could not be more pleased to find a quality institution like UMB to transition our customers and AFBA members,” said Michael League, chief executive officer of 5Star Bank. “We are confident they will find UMB to be a great credit card provider.”

UMB has been active in the acquisition of high quality, credit card portfolios and Schmelzel stated, “If it’s the right opportunity for customers, our company and shareholders, acquisition is a strategy we will pursue aggressively.”

UMB Financial Corporation /quotes/comstock/15*!umbf/quotes/nls/umbf (UMBF 38.75, +0.20, +0.52%) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to commercial, institutional and personal customers nationwide. its banking subsidiaries own and operate 135 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company’s proprietary mutual funds and investment advisory accounts for institutional customers. For more information, visit umb.com or follow us on Twitter at @UMBFinancial.

About five Star Bank

5Star Bank is a $192 million asset organization headquartered in Colorado Springs, Colo. the bank operates three branches with plans to open two more locations this year. the bank offers a full range of services to AFBA members and the Colorado Springs Community.

5Star Bank maintains an enviable market leading Total Risk Based Capital Ratio of 46.9 percent. For more information visit us at afba.com or 5StarBankUS.com.

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SOURCE: UMB Financial Corporation

UMB Financial Corporation Pamela Blase, 816-860-5606 pam.blase@umb.com or Steve Wujek, 816-423-6214 swujek@barkleyus.com

Copyright Business Wire 2010

UMB Acquires Credit Card Portfolio from 5Star Bank