An American financial services holding company announced it is acquiring a financial institution with a large Dubuque presence. UMB Financial said it will acquire HTLF, the parent company of Dubuque Bank & Trust, in an all-stock deal valued at about $2 billion. A release states that under the terms of the deal, HTLF shareholders will get a fixed exchange ratio of 0.55 shares of UMB Financial common stock for each share of HTLF common stock. The deal is expected to be the largest in UMB Financial’s history and will lead to UMB Financial having $64.5 billion in assets.
