UMB acquires credit card portfolio from 5Star Bank

UMB Bank has acquired 5Star Bank's credit card portfolio.

According to a press release, the agreement closed on April 26th and included $66 million in assets and 63 agent bank credit card relationships. Terms of the deal were not disclosed.

"Our evaluation and due diligence of 5Star's credit card portfolio uncovered a near mirror image of UMB's credit card program," said George Schmelzel, senior vice president of UMB Credit Card Services. "So from the standpoint of service, operations and customer base, this was a smart and easy decision for us. But more importantly, the customers will continue to experience the same level of service with UMB they have come to expect from 5Star Bank."