UMB FINANCIAL CORP
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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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.
Sep 30, 2024 · Filed Oct 31, 2024
UMBF$135.86-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, dollars in thousands)
| For the Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| 2024 | 2023 | |
| OPERATING ACTIVITIES | ||
| Net income | $321,246 | $279,101 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for credit losses | 42,050 | 41,227 |
| Net amortization of premiums and discounts from acquisition | 2,457 | 800 |
| Depreciation and amortization | 40,057 | 44,576 |
| Amortization of debt issuance costs | 657 | 657 |
| Deferred income tax benefit | (6,798) | (11,437) |
| Net increase in trading securities and other earning assets | (17,746) | (6,529) |
| (Gains) losses on investment securities, net | (10,127) | 4,153 |
| Gains on sales of assets | (3,210) | (4,301) |
| Amortization of securities premiums, net of discount accretion | 20,666 | 32,516 |
| Originations of loans held for sale | (60,019) | (49,300) |
| Gains on sales of loans held for sale, net | (1,516) | (1,218) |
| Proceeds from sales of loans held for sale | 60,779 | 49,672 |
| Equity-based compensation | 15,589 | 12,702 |
| Changes in: | ||
| Accrued income | 2,852 | (19,363) |
| Accrued expenses and taxes | (1,687) | 77,577 |
| Other assets and liabilities, net | (113,093) | (63,208) |
| Net cash provided by operating activities | 292,157 | 387,625 |
| INVESTING ACTIVITIES | ||
| Securities held to maturity: | ||
| Maturities, calls and principal repayments | 329,830 | 336,216 |
| Purchases | (97,027) | (186,010) |
| Securities available for sale: | ||
| Sales | 19,154 | 22,193 |
| Maturities, calls and principal repayments | 7,104,618 | 1,005,538 |
| Purchases | (6,893,491) | (522,134) |
| Equity securities with readily determinable fair values: | ||
| Purchases | (265) | (194) |
| Equity securities without readily determinable fair values: | ||
| Sales | 34,267 | 4,883 |
| Maturities, calls and principal repayments | 56,561 | 314,881 |
| Purchases | (43,488) | (397,752) |
| Payment of low-income housing tax credit (LIHTC) investment commitments | (29,456) | (31,251) |
| Net increase in loans | (1,727,556) | (1,859,649) |
| Net (increase) decrease in fed funds sold and resell agreements | (153,890) | 710,394 |
| Net cash activity from acquisitions and divestitures | (109,046) | (793) |
| Net (increase) decrease in interest-bearing balances due from other financial institutions | (24,426) | 38,552 |
| Purchases of premises and equipment | (14,026) | (23,132) |
| Proceeds from sales of premises and equipment | 4,197 | 4,075 |
| Net cash used in investing activities | (1,544,044) | (584,183) |
| FINANCING ACTIVITIES | ||
|---|---|---|
| Net increase (decrease) in demand and savings deposits | 4,920,541 | (1,633,496) |
| Net (decrease) increase in time deposits | (1,010,808) | 2,426,115 |
| Net decrease in fed funds purchased and repurchase agreements | (96,347) | (464,565) |
| Proceeds from short-term debt | 500,000 | 32,856,000 |
| Repayment of short-term debt | (1,250,000) | (30,556,000) |
| Cash dividends paid | (57,602) | (55,312) |
| Payment of common stock issuance costs | (1,349) | — |
| Proceeds from exercise of stock options and sales of treasury shares | 3,696 | 1,267 |
| Purchases of treasury stock | (7,738) | (8,096) |
| Net cash provided by financing activities | 3,000,393 | 2,565,913 |
| Increase in cash and cash equivalents | 1,748,506 | 2,369,355 |
| Cash and cash equivalents at beginning of period | 5,528,258 | 1,557,874 |
| Cash and cash equivalents at end of period | $7,276,764 | $3,927,229 |
| Supplemental disclosures: | ||
| Income tax payments | $76,076 | $67,372 |
| Total interest payments | 879,867 | 577,907 |
| Noncash disclosures: | ||
| Acquisition of low-income housing tax credit investments | $24,316 | $56,922 |
| Commitment to fund low-income housing tax credit investments | 24,316 | 56,922 |
| Transfer of loans to other real estate owned | 828 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.