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

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

CONSOLIDATED STATEMENTS OF INCOME

(unaudited, dollars in thousands, except share and per share data)

Three Months Ended · Six Months Ended
	June 30,		June 30,
	2024	2023	2024	2023
INTEREST INCOME
Loans	$400,351	$342,994	$785,917	$651,435
Securities:
Taxable interest	61,582	54,587	122,693	107,636
Tax-exempt interest	25,077	25,550	50,410	50,856
Total securities income	86,659	80,137	173,103	158,492
Federal funds and resell agreements	3,674	3,889	6,736	9,540
Interest-bearing due from banks	47,174	34,206	91,862	50,372
Trading securities	424	154	729	288
Total interest income	538,282	461,380	1,058,347	870,127
INTEREST EXPENSE
Deposits	240,525	170,550	464,400	298,449
Federal funds and repurchase agreements	28,081	24,745	55,743	48,047
Other	24,568	40,474	53,662	56,324
Total interest expense	293,174	235,769	573,805	402,820
Net interest income	245,108	225,611	484,542	467,307
Provision for credit losses	14,050	13,000	24,050	36,250
Net interest income after provision for credit losses	231,058	212,611	460,492	431,057
NONINTEREST INCOME
Trust and securities processing	70,010	61,589	139,488	123,948
Trading and investment banking	5,461	4,800	10,923	10,108
Service charges on deposit accounts	22,261	21,381	43,018	42,540
Insurance fees and commissions	267	225	550	499
Brokerage fees	14,020	13,604	27,180	27,280
Bankcard fees	22,346	18,579	44,314	36,751
Investment securities (losses) gains, net	(1,867)	900	7,504	(4,424)
Other	12,421	17,004	31,186	31,580
Total noninterest income	144,919	138,082	304,163	268,282
NONINTEREST EXPENSE
Salaries and employee benefits	142,861	143,312	285,867	285,810
Occupancy, net	11,723	11,746	23,993	23,923
Equipment	15,603	17,086	32,106	34,935
Supplies and services	3,404	4,195	6,705	8,070
Marketing and business development	6,598	7,124	12,623	12,459
Processing fees	29,701	26,572	57,637	49,812
Legal and consulting	16,566	7,059	24,460	14,344
Bankcard	11,818	8,307	22,385	15,440
Amortization of other intangible assets	1,911	2,117	3,871	4,415
Regulatory fees	2,568	6,123	21,963	11,674
Other	6,314	7,032	12,261	16,843
Total noninterest expense	249,067	240,673	503,871	477,725
Income before income taxes	126,910	110,020	260,784	221,614
Income tax expense	25,565	19,910	49,181	39,067
NET INCOME	$101,345	$90,110	$211,603	$182,547
PER SHARE DATA
Net income – basic	$2.08	$1.86	$4.34	$3.77
Net income – diluted	2.07	1.85	4.32	3.75
Dividends	0.39	0.38	0.78	0.76
Weighted average shares outstanding – basic	48,744,636	48,514,277	48,704,075	48,474,865
Weighted average shares outstanding – diluted	48,974,265	48,668,413	48,952,054	48,707,487

ContentsView on SEC.gov

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