US-based UMB Financial Corporation has inked an agreement to acquire Pohlad family-owned Marquette Financial Companies in an all-stock transaction worth almost $182.5m.

Following the acquisition, the Pohlad family would get a 7% ownership stake in UMB Financial which is the second largest individual stake in the firm after Mariner Kemper, financial chairman of UMB, who holds an 11.58% stake.

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The deal, approved by the boards of directors at both companies, is yet to secure the regulatory go-ahead and is expected to close by the middle of next year.

Marquette Financial Companies is a $1.3bn financial-services company, which owns Meridian Bank comprising 13 branches in Arizona and Texas, two national specialty-lending businesses focused on asset-based lending and factoring and an asset-management firm.

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