UMB Bank, a wholly owned subsidiary of UMB Financial Corporation, has closed a transaction with American National Bank, to acquire and transition American National Bank’s corporate trust business over to UMB corporate trust and escrow services.

The transaction consists of more than 1,400 accounts with nearly $3 billion in assets under administration. American National Bank’s corporate trust portfolio will be transitioned to UMB’s corporate trust and escrow services office in Denver.

Jon Robinson, chief executive officer of UMB Bank Colorado, said: “We have made a commitment to be the leading corporate trust provider in the Rocky Mountain region. To date, our efforts in establishing our Colorado corporate trust business have been very successful despite the backdrop of difficult market conditions. The acquisition cements our leadership position in Colorado and helps establish a stronger position in the surrounding Rocky Mountain region.”

Todd Duncan, executive of corporate trust division at UMB, said: “We are excited about this expansion and look forward to serving our new clients while introducing them to UMB and our Corporate Trust and Escrow Services division. From a business standpoint, this agreement fits perfectly with our growth strategies and demonstrates UMB’s dedication and desire to serve the Rocky Mountain corporate trust market.”