UMB Financial Corp. announced Thursday that a client is expected to move about $1.08 billion in deposits out of UMB Bank and into another depository institution within the next 120 days.
UMB made the announcement in a filing with the Securities and Exchange Commission. The filing did not identify the client or say which bank the deposits are moving to.
Representatives of UMB could not be reached for comment immediately.
UMB said the deposits represent 7.42 percent of its total deposits. UMB ranked…
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