SOUTH LAKE TAHOE, Calif. — UMB Financial Corporation has announced a new agreement to acquire El Dorado Savings Bank, F.S.B. The deal, valued at around $506 million, consists of 52 percent cash and 48 percent stock.
Founded in 1958, El Dorado Savings has been serving South Lake Tahoe, Placerville, and several regions throughout Northern Nevada and Northern California.
This isn’t the first time the bank has been in the acquisition spotlight. Back in late 2018, PacWest Bancorp had aimed to buy El Dorado Savings Bank, but the agreement fell apart prior to receiving shareholder approval.
As of September 30, 2026, El Dorado Savings reported assets totaling $2.4 billion, with $2.1 billion in deposits and $0.5 billion in loans. The merger is expected to notably enhance UMB’s physical and brand presence on the West Coast.
“This milestone is a significant leap forward for our retail footprint and overall presence in California and expands our UMB branch network into Nevada,” said UMB Financial Corporation Chairman and CEO Mariner Kemper in a statement. He added that the recent expansion efforts made the region an attractive opportunity for further growth.
The acquisition will boost UMB’s West Coast operations by adding 31 branches in California and four in Nevada, raising UMB’s total branch network to 227 locations across 15 states. UMB is headquartered in Kansas City, Missouri, while El Dorado Savings is based in Placerville.
David O. Cook, CEO of El Dorado, will become the vice chairman of UMB Bank California.
“This transaction will greatly benefit our customers, communities, and shareholders,” Cook stated. “We will be able to offer more products and services and do even more to support and uplift our communities. We look forward to continuing the great work we’ve been doing in a more significant and impactful way.”
El Dorado shareholders will receive a fixed exchange ratio of 13.553 shares of UMB common stock along with an extra $1,958.88 in cash for each share they hold. The boards of directors from both banks have approved the deal. Until the transaction is finalized, the two companies will remain independent. This deal awaits typical closing conditions, including regulatory and shareholder approvals from El Dorado, and it is anticipated to close in the first quarter of 2027.
UMB emphasizes its commitment to the communities it serves, aiming to support through a variety of products, services, investments, and community initiatives. They plan to leverage their existing Community Benefits Plan to benefit the customers and areas within their newly expanded reach.
