UMB FINANCIAL CORP

For the period ended Mar 31, 2024. Filed May 7, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 7, 2024

UMBF$135.86-0.6%Stored close · as of Nov 10, 2026

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Contents

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited, dollars in thousands)

	For the Three Months Ended
	March 31,
	2024	2023
OPERATING ACTIVITIES
Net income	$110,258	$92,437
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	10,000	23,250
Net amortization of premiums and discounts from acquisition	276	267
Depreciation and amortization	13,817	15,388
Amortization of debt issuance costs	219	218
Deferred income tax benefit	(3,037)	(3,855)
Net increase in trading securities and other earning assets	(22,094)	(1,843)
(Gains) losses on investment securities, net	(9,371)	5,324
Gains on sales of assets	(1,846)	(60)
Amortization of securities premiums, net of discount accretion	6,425	10,662
Originations of loans held for sale	(17,979)	(12,901)
Gains on sales of loans held for sale, net	(415)	(235)
Proceeds from sales of loans held for sale	18,399	13,692
Equity-based compensation	4,974	5,235
Changes in:
Accrued income	289	7,645
Accrued expenses and taxes	(14,972)	(31,991)
Other assets and liabilities, net	(38,799)	(121,537)
Net cash provided by operating activities	56,144	1,696
INVESTING ACTIVITIES
Securities held to maturity:
Maturities, calls and principal repayments	95,031	86,856
Purchases	(23,686)	(80,097)
Securities available for sale:
Sales	19,153	68
Maturities, calls and principal repayments	3,104,013	188,018
Purchases	(2,630,486)	(2,288)
Equity securities with readily determinable fair values:
Purchases	(87)	(57)
Equity securities without readily determinable fair values:
Sales	28,623	4,590
Maturities, calls and principal repayments	1	100,846
Purchases	(5,012)	(176,501)
Payment of low-income housing tax credit (LIHTC) investment commitments	(15,765)	(9,507)
Net increase in loans	(359,617)	(786,426)
Net decrease in fed funds sold and resell agreements	65,069	590,439
Net cash activity from acquisitions and divestitures	(110,789)	—
Net (increase) decrease in interest-bearing balances due from other financial institutions	(8,214)	51,646
Purchases of premises and equipment	(2,376)	(9,428)
Proceeds from sales of premises and equipment	2,535	65
Net cash provided by (used in) investing activities	158,393	(41,776)

FINANCING ACTIVITIES
Net increase (decrease) in demand and savings deposits	1,550,733	(2,472,589)
Net (decrease) increase in time deposits	(429,982)	1,765,360
Net increase (decrease) in fed funds purchased and repurchase agreements	105,830	(61,359)
Proceeds from short-term debt	—	13,281,000
Repayment of short-term debt	—	(10,481,000)
Cash dividends paid	(19,012)	(18,432)
Proceeds from exercise of stock options and sales of treasury shares	281	432
Purchases of treasury stock	(7,537)	(7,902)
Net cash provided by financing activities	1,200,313	2,005,510
Increase in cash and cash equivalents	1,414,850	1,965,430
Cash and cash equivalents at beginning of period	5,528,258	1,557,874
Cash and cash equivalents at end of period	$6,943,108	$3,523,304
Supplemental disclosures:
Income tax payments	$1,328	$1,508
Total interest payments	268,768	165,102
Noncash disclosures:
Acquisition of low-income housing tax credit investments	$—	$—
Commitment to fund low-income housing tax credit investments	—	—
Transfer of loans to other real estate owned	794	—

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.