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UMBF > SEC Filings for UMBF > Form 8-K on 5-Sep-2013All Recent SEC Filings

Show all filings for UMB FINANCIAL CORP



Other Events

Item 8.01. Other Events

As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2012, UMB Financial Corporation and its subsidiaries focus on maintaining a diversified deposit base. For risk-management purposes, we actively monitor and manage our deposit balances to avoid undue concentration, liquidity, and related risks. After an ongoing dialogue, a single Asset Servicing client is expected to migrate approximately $1.08 billion in deposits to another depository institution within the next 120 days. As of June 30, 2013, this client's deposits totaled $870.82 million and represented 7.42% of our total deposits. We do not have any other client that has a similar risk profile.

We may elect to replace some or all of the funding currently provided by these deposits. If all of the funding were replace in the near term, our earnings per share in 2014 could decline by $0.04 to $0.09 based on the current rate environment and our assumptions about the cost and availability of other funding sources. We can provide no assurance that we will be able to replace the funding provided by these deposits if we were to elect or need to do so, that our assumptions about the cost and availability of other funding sources will turn out to be accurate, or that the impact on our earnings per share or other results of operations will not be better or worse than we project.

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