UMB FINANCIAL CORP

For the period ended Jun 30, 2024. Filed Aug 1, 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.

Jun 30, 2024 · Filed Aug 1, 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 Six Months Ended
	June 30,
	2024	2023
OPERATING ACTIVITIES
Net income	$211,603	$182,547
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	24,050	36,250
Net amortization of premiums and discounts from acquisition	1,361	531
Depreciation and amortization	27,110	30,063
Amortization of debt issuance costs	438	438
Deferred income tax benefit	(6,853)	(10,649)
Net increase in trading securities and other earning assets	(10,888)	(10,907)
(Gains) losses on investment securities, net	(7,504)	4,424
Gains on sales of assets	(1,803)	(4,360)
Amortization of securities premiums, net of discount accretion	13,652	21,892
Originations of loans held for sale	(36,862)	(31,862)
Gains on sales of loans held for sale, net	(942)	(608)
Proceeds from sales of loans held for sale	38,013	30,629
Equity-based compensation	10,743	9,174
Changes in:
Accrued income	(16,371)	(1,156)
Accrued expenses and taxes	(36,132)	16,139
Other assets and liabilities, net	(41,105)	(117,137)
Net cash provided by operating activities	168,510	155,408
INVESTING ACTIVITIES
Securities held to maturity:
Maturities, calls and principal repayments	211,226	214,861
Purchases	(56,998)	(149,912)
Securities available for sale:
Sales	19,153	68
Maturities, calls and principal repayments	6,334,100	843,812
Purchases	(6,439,464)	(502,731)
Equity securities with readily determinable fair values:
Purchases	(176)	(118)
Equity securities without readily determinable fair values:
Sales	32,148	4,790
Maturities, calls and principal repayments	45,002	300,874
Purchases	(31,257)	(356,646)
Payment of low-income housing tax credit (LIHTC) investment commitments	(17,930)	(23,110)
Net increase in loans	(924,936)	(1,456,857)
Net (increase) decrease in fed funds sold and resell agreements	(2,118)	638,759
Net cash activity from acquisitions and divestitures	(108,706)	(793)
Net (increase) decrease in interest-bearing balances due from other financial institutions	(10,254)	60,091
Purchases of premises and equipment	(8,067)	(17,091)
Proceeds from sales of premises and equipment	2,533	4,369
Net cash used in investing activities	(955,744)	(439,634)

FINANCING ACTIVITIES
Net increase (decrease) in demand and savings deposits	1,715,593	(1,395,026)
Net (decrease) increase in time deposits	(990,882)	2,276,354
Net increase (decrease) in fed funds purchased and repurchase agreements	97,389	(171,584)
Proceeds from short-term debt	500,000	32,006,000
Repayment of short-term debt	(1,000,000)	(30,206,000)
Cash dividends paid	(38,542)	(36,871)
Payment of common stock issuance costs	(1,317)	—
Proceeds from exercise of stock options and sales of treasury shares	410	997
Purchases of treasury stock	(7,537)	(7,902)
Net cash provided by financing activities	275,114	2,465,968
(Decrease) increase in cash and cash equivalents	(512,120)	2,181,742
Cash and cash equivalents at beginning of period	5,528,258	1,557,874
Cash and cash equivalents at end of period	$5,016,138	$3,739,616
Supplemental disclosures:
Income tax payments	$56,247	$49,656
Total interest payments	586,618	371,211
Noncash disclosures:
Acquisition of low-income housing tax credit investments	$3,000	$34,831
Commitment to fund low-income housing tax credit investments	3,000	34,831
Transfer of loans to other real estate owned	793	—

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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.