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What can a HSA debit card be used for - YouTube | hsa debit card

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– By Holmes Osborne, CFA

What can a HSA debit card be used for - YouTube - hsa debit card
What can a HSA debit card be used for – YouTube – hsa debit card | hsa debit card

UMB Cyberbanking (UMBF) is a mid-cap coffer that captivated up acutely able-bodied in the Abundant Recession. The coffer not alone loans money but additionally derives fees from such casework as HSAs and acclaim cards. The banal is almost followed on Wall Street.

The banal trades for $70.77, there are 50.1 actor shares and the bazaar cap is $3.545 billion. Earnings per allotment were $4.25 and the price-earnings arrangement is 17.04. The allotment is $1.16 and the allotment crop is 1.6%.

Sales grew to $941.5 actor in 2017 from $831.7 actor in 2014. Earnings grew to $247 actor from $120.6 actor over that time frame. Chargeless banknote breeze was $290 actor aftermost year and the chargeless banknote breeze crop is 8.18%. Nice valuation.

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Tangible disinterestedness is about $2 billion and assets are about $20.3 billion. So, UMB is levered to about 10 to 1. Not bad. In the cyberbanking crisis, banks were levered abundant academy than this. If a bank’s liabilities beat assets, again the coffer goes out of business.

According to the 10-K (which is several months old), non-performing loans to absolute loans is 0.52% and the industry boilerplate is 0.83%. The accommodation to drop arrangement is 68% and the industry boilerplate is 90.2%. The tier-1 basic arrangement is 12.95% and the industry boilerplate is 12.2%. In the accommodation portfolio, 43.7% is mainly bartering costs and architecture with a baby allocation costs residential. About bisected of the loans appear from Kansas City and St. Louis.

UMB is in about everything. It has a allowance division, assurance department, acclaim cards, loans and alike a analysis that serves as a trustee for alternate funds and added advance companies. Open up your alternate armamentarium announcement and you will generally see UMB on the aback page. When I acclimated to do aegis at Fidelity, Fidelity acclimated UMB for its blockage services. Aftermost year, UMB awash off its Scout alternate armamentarium division. The coffer has locations in: Missouri, Kansas, Colorado, Nebraska and several added states.

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Health Savings Account debit card Stock Photo: 11 – Alamy – hsa debit card | hsa debit card

Recently, above CEO Michael Hagedorn larboard the coffer and was replaced by James Rine. Rine was in allegation of bartering cyberbanking at UMB.

There are few analysis letters on the company. Charles Schwab and Morgan Stanley did not action much. What reminded me of UMB was perusing Third Avenue (TAVFX)’s holdings. The abysmal amount administrator brand the stock.

A additional analysis actor presentation shows write-offs during the cyberbanking crisis 10 years ago. I consistently like to see how a coffer captivated up aback then. Write-offs include: acclaim cards, customer loans and other. Write-offs were $11.755 actor in 2009, $20.2 actor in 2010, $21.7 actor in 2011 and $24 actor in 2012. After that, write-offs as a allotment of loans fell off.

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Health Savings Account Debit Card Stock Illustration – Illustration .. | hsa debit card

Some of the assurance casework provided are interesting. UMB serves as trustee on aing to $16 billion in assets, best of which are borough bonds. A new analysis serves as trustee on jets that airline companies appetite to charter from barrier funds. A burying home assurance analysis was aloof acquired for $160 million. Often, bodies prepay burying expenses, and the money stays in these assurance accounts. The coffer has alike gotten into the Bloom Savings Annual space. An HSA works like this: You armamentarium an annual and again use a debit agenda to pay for bloom affliction and pharmaceuticals.

I looked through several Annual Letters during from the Abundant Recession. UMB not alone captivated up, but it added its dividend. As far as I can see, it didn’t booty any bailout money. Non-performing loans were 0.54% against 3.03% for the industry. The loan-to-deposit arrangement was 57.8% against 90.8% for the industry. This agency that the UMB was beneath levered than the boilerplate bank. The banal alone fell from $52 to $31 aback in the aphotic canicule of the recession.

Crosby Kemper Jr., who led the coffer in the 1950s, went to academy at the University of Missouri and was Sam Walton’s fraternity brother. Walton referred to Kemper as his claimed banker. The Kemper ancestors are still above shareholders and Kemper’s grandson Mariner is admiral of the bank.

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I would advance in UMB beneath the appropriate circumstances. At this point, I appetite to see what ascent absorption ante will do to the economy. Academy accommodation costs and investors accident money on bonds could activity things up a bit, and I appetite to see how things comedy out. I would advance in the coffer for one reason, management. Abundant of the aforementioned administration was there in 2009. A abundant time to buy the banal would be a nice downturn. I anticipate its accommodation portfolio would authority up.

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I’m careful of banks because it’s difficult to attending at their accommodation portfolios. Sure, you can attending at appraisement agencies like S&P and Basel disinterestedness information, but I don’t put a lot of acceptance in these numbers. I appetite to get a bigger contour of who money is actuality loaned to. Kansas City isn’t a bang and apprehension town. It doesn’t absolutely participate in booms like California and accordingly usually doesn’t participate in the busts, and Kansas City is area UMB gets abundant of its accommodation revenues.

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Disclosure: We own banal in TAVFX.

This commodity aboriginal appeared on GuruFocus.

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