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Deals & People September 5, 2025
UMB Healthcare Services Buys More Than 8,000 HSAs
The financial services company also acquired about $32.5 million in related deposits from Old National Bank.
Reported by Edward Rueda
UMB Financial Corp. purchased more than 8,000 health savings accounts and approximately $32.5 million in related deposits from Old National Bank that were associated with Old National’s recent acquisition of Bremer Bank.
The HSA holders will have access to UMB’s technology services, online investment tools and mobile account management options.
Customers will also have access to UMB’s suite of health care services, including flexible spending accounts, health reimbursement arrangements, COBRA administration and commuter benefits.
“This investment to grow our healthcare services business reflects our ongoing commitment to maintaining our position as an industry leader and delivering innovative, customer-focused solutions to our accountholders,” said Brian Hutchin, UMB’s director of health care services, in a statement.
As of June 30, UMB Healthcare Services managed 5.2 million health care spending account cards and nearly 1.6 million HSAs, totaling more than $4.6 billion in HSA assets and deposits.« Fidelity Retirement Accounts Surge Back to Record Highs in Q2