Mariner Kemper, UMB's chief executive, said he struggled with the decision to sell Scout Investments to Raymond James. Selling made more sense than pumping more capital into the beleaguered business.
The Office of the Comptroller of the Currency has given preliminary conditional approval for Winter Park National Bank, allowing organizers to work on office space, hire staff and raise capital.
Ashton Ryan, who had been removed as CEO in December, has still been serving as its president. The company also agreed to sell preferred stock to directors to help it make payments tied to its subordinated debt.
