UMB Financial Corporation announced that it has completed the purchase of more than 8,000 Health Savings Accounts (HSAs) and approximately $32.5 million in related deposits from Old National Bank associated with its recent acquisition of Bremer Bank.
The newly acquired accounts continue to expand UMB’s growing HSA business, which provides individuals and employers with flexible, tax-advantaged savings solutions for qualified medical expenses. New customers will now benefit from UMB’s expanded technology services, online investment tools and mobile account management options.
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“Health Savings Accounts are an increasingly important tool for individuals and families looking to manage today’s healthcare expense demands while also planning for future retirement needs,” said Brian Hutchin, director of healthcare services at UMB. “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.”
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The addition of these accounts expands the number of people supported by UMB’s comprehensive suite of healthcare services, which includes HSAs, Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), as well as COBRA administration and commuter benefits. This breadth of services positions UMB as a single-source provider for employer and individual healthcare benefit account needs.
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UMB Healthcare Services provides solutions for 5.2 million healthcare spending account cards and services nearly 1.6 million HSAs, totaling more than $4.6 billion in HSA assets and deposits, as of June 30, 2025. Total purchase volume on UMB’s healthcare debit cards exceeded $11.9 billion for the calendar year 2024.
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Source : businesswire