An open letter to customers of UMB Bank.

To our customers:

We have all been overwhelmed in recent months with allegations of corporate wrongdoing -- Enron, Adelphia, WorldCom, Global Crossing and even Martha Stewart! CEOs, directors and other senior officers have been charged with profiting at the expense of shareholders and customers. In some cases, financial officers and outside auditors of some of the largest companies in the country have been accused of misrepresenting, or even outfight lying about, their companies' numbers and financial condition. Even well-known companies such as Xerox and Merck have had their reputations tarnished. There has been a wave of negative news and legislative reaction to all of this. In light of the current state of affairs, I think it is important for you to know your bank's position.

For those who have known my rather and my grandfather and who are aware of the management history of this company, you already know that integrity is the most important word we use. Being honest about our numbers -- and being truthful with our customers, our shareholders and our employees -- isn't just a value; it's a moral imperative. All business is based in some degree on trust, and banking at its core is about trust. Our reputation is our most valuable asset.

There are several things that I would like you to know that should give you confidence in your bank.

All of our numbers are prepared in accordance with Generally Accepted Accounting Practices (GAAP) and the Financial Accounting Standards Board (FASB) rules. We strive to use the most prudent interpretation, with the focus on the shareholder and not on enriching management. We use those rules to prepare our financial reports so that they most fairly represent our business.

We have virtually no off-balance sheet liabilities other than those that all banks incur in their normal course of business -- leases, undrawn loan commitments and very modest trading positions inside our bond department for our correspondent banks. We review these on a quarterly basis with the board of directors to ensure full disclosure.

As you know, we own no private airplanes, apartments, yachts or expensive club memberships. Our company doesn't live lavishly We have always paid taxes and quite conscientiously structured ourselves so that we bear our fair share of the local, state and federal tax burden.

We pay our board of directors, including the compensation and audit committee members, very modest fees. A recent report on director compensation in the Kansas City Business journal did not even list us among the local corporations that paid the highest director fees. We have a very strong independent board. We are profitable, have a rock solid balance sheet and have virtually no long-term debt.

I want you all to know directly from me that there is nothing closer to my heart and soul than this company's reputation for integrity. My father has always stood for that, I stand for that and I know our employees do, too. We appreciate the opportunity to serve you, and we thank you for choosing UMB Bank as your financial partner.

R. Crosby Kemper III

CEO, UMB Financial Corporation 

Mariner Kemper

Chairman and CEO

UMB Bank Colorado