UMB Financial to Buy Rival Bank Heartland in $2 Billion Deal (1)

UMB Financial Corp. agreed to acquire rival Heartland Financial USA Inc. for about $2 billion in an all-stock transaction poised to be the year’s largest US regional-bank deal.

Under the terms of the agreement, approved by the boards of both companies, Heartland shareholders will receive 0.55 UMB shares for each of their shares, according to a statement Monday. The purchase is valued at $45.74 a share based on UMB’s closing price of $83.17 Friday. Talks between the two firms were first reported by Bloomberg News on Friday.

“This is a historic and exciting milestone for our company,” UMB Chief Executive ...