UMB Bank CEO: Lending Environment Robust, Big Bank Fines Trickle Down

Economic growth in the Midwest is robust and the lending environment continues to improve, said Mike Hagedorn, CEO of UMB Bank. Hagedorn added that UMB Bank has extended its streak of loan growth to 18 consecutive quarters and the bank's pipeline is filled. He said the 'Too Big to Fail' banks have deeper pockets when it comes to technology upgrades, yet UMB has the same cost of funds as the big players so it can compete on price as well as service. Hagedorn said the transgressions by the big banks have driven up regulatory costs for midsized players including UMB Bank.