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Heartland Financial in its $2 billion all-stock acquisition by UMB Financial

On April 29, 2024, Heartland Financial USA, Inc. (Nasdaq: HTLF) and UMB Financial Corporation (Nasdaq: UMBF) announced today that they have entered into a definitive agreement by which UMB will acquire Heartland in an all-stock transaction valued at approximately $2.0 billion.  The transaction is the largest regional bank merger of 2024 and would elevate the combined bank to the top 5% of publicly traded banks in the U.S. by assets.  In connection with the transaction, UMB also entered into a forward sale agreement to raise approximately $200 million of equity capital.

Wachtell, Lipton, Rosen & Katz is serving as legal counsel to Heartland Financial.