Commerce Bancshares, Inc. (CBSH) and UMBF are run by different sides of the Kemper family.
Both CBSH and UBMF have 10% plus insider ownership of their collective outstanding shares of stock.
Although I would like to see the two banks merge, I don't see any type of merger happening unless one, or more in the case of CBSH, of the fifty something Kempers steps down from management roles at these two institutions.
The high price to earnings ratio (PE) at UMBF is most likely related to the historically low interest rates.
In other words, UMBF is having trouble making money in a low interest invironment.
Doc, Tower properties ownership has been disclosed to regulators for years and if you place an order you may be able to buy some if available. I do understand your concern but its seems doubtfull the Kemper family would ever be forced to divest their ownership in Tower. Good luck.
Sold my UMBF two years age because the bank had not been earning as well as their peers. I agree that a 21 pe is way out of sight. I can't see Crosby letting this bank be sold during his lifetime. Good luck.