Once the deal closes, it will elevate UMB Bank to the top 4% of the 599 publicly traded banks in the U.S., and expand its presence from eight states to 13.

The firms got approvals from the Office of the Comptroller of the Currency and Board of Governors of the Federal Reserve System.

The transaction, set to close by Jan. 31, would boost UMB’s assets by roughly 40%, more than double its branch footprint and give it entry to five new states.

Federal regulators gave final approval to Kansas City-based UMB Financial Corp.'s $2 billion all-stock acquisition of Heartland Financial USA, the parent company for Wisconsin Bank & Trust Co.