$UMBF

UMB FINANCIAL CORP

CIK:0000101382|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST INCOME
Loans	$ 643,995	$ 612,414	$ 1,277,073	$ 1,139,818
Securities:
Taxable interest	146,593	122,237	291,892	220,533
Tax-exempt interest	35,181	33,024	69,635	62,987
Total securities income	181,774	155,261	361,527	283,520
Federal funds and resell agreements	11,259	8,733	27,322	15,685
Interest-bearing due from banks	33,950	73,874	71,852	148,859
Trading securities	388	255	659	625
Total interest income	871,366	850,537	1,738,433	1,588,507
INTEREST EXPENSE
Deposits	298,927	343,153	591,300	646,559
Federal funds and repurchase agreements	28,953	27,423	58,651	53,213
Other	10,961	12,937	21,591	24,072
Total interest expense	338,841	383,513	671,542	723,844
Net interest income	532,525	467,024	1,066,891	864,663
Provision for credit losses	28,000	21,000	55,000	107,000
Net interest income after provision for credit losses	504,525	446,024	1,011,891	757,663
NONINTEREST INCOME
Trust and securities processing	98,295	83,263	192,962	163,044
Trading and investment banking	5,314	6,170	13,054	12,081
Service charges on deposit accounts	29,588	28,865	59,062	56,322
Insurance fees and commissions	207	189	462	367
Brokerage fees	25,400	20,525	46,489	38,627
Bankcard fees	29,954	29,018	58,832	55,311
Investment securities gains, net	27,087	37,685	30,133	32,903
Other	29,660	16,470	49,304	29,728
Total noninterest income	245,505	222,185	450,298	388,383
NONINTEREST EXPENSE
Salaries and employee benefits	227,162	213,551	446,843	434,949
Occupancy, net	19,277	18,571	38,352	34,640
Equipment	13,942	16,426	27,262	33,374
Supplies and services	5,504	6,383	11,108	11,168
Marketing and business development	13,916	11,344	27,708	19,342
Processing fees	43,073	43,638	85,132	84,488
Legal and consulting	14,415	18,468	23,502	47,074
Bankcard	11,873	12,363	23,714	25,158
Amortization of other intangible assets	23,460	25,268	46,920	42,750
Regulatory fees	9,097	9,259	17,367	17,496
Other	17,914	17,897	32,608	27,516
Total noninterest expense	399,633	393,168	780,516	777,955
Income before income taxes	350,397	275,041	681,673	368,091
Income tax expense	72,827	57,647	142,665	69,364
NET INCOME	277,570	217,394	539,008	298,727
Less: Preferred dividends	5,812	2,012	11,625	4,025
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 271,758	$ 215,382	$ 527,383	$ 294,702
PER SHARE DATA
Net income per common share - basic	$ 3.58	$ 2.84	$ 6.94	$ 4.18
Net income per common share - diluted	3.56	2.82	6.9	4.16
Dividends per common share	$ 0.43	$ 0.4	$ 0.86	$ 0.8
Weighted average common shares outstanding -- basic	75,972,781	75,923,082	76,002,535	70,523,171
Weighted average common shares outstanding -- diluted	76,392,233	76,241,798	76,422,437	70,901,635

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
OPERATING ACTIVITIES
Net income	$ 539,008	$ 298,727
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	55,000	107,000
Net accretion of premiums and discounts from acquisition	(86,082)	(60,204)
Depreciation and amortization	70,222	67,361
Amortization of debt issuance costs	213	438
Deferred income tax expense	17,858	23,772
Net (increase) decrease in trading securities and other earning assets	(23,508)	3,835
Gains on investment securities, net	(30,133)	(32,903)
Losses on sales of assets	1,124	62
Amortization of securities premiums, net of discount accretion	3,061	1,828
Originations of loans held for sale	(63,896)	(43,485)
Gains on sales of loans held for sale, net	(1,541)	(1,165)
Proceeds from sales of loans held for sale	60,667	41,668
Equity-based compensation	22,774	20,709
Changes in:
Accrued income	2,192	(7,016)
Accrued expenses and taxes	(72,426)	(21,935)
Other assets and liabilities, net	215,997	249,715
Net cash provided by operating activities	710,530	648,407
Securities held to maturity:
Maturities, calls and principal repayments	253,434	346,297
Purchases	(234,023)	(15,319)
Securities available for sale:
Sales	57,146	616,354
Maturities, calls and principal repayments	946,269	819,828
Purchases	(884,636)	(2,571,763)
Equity securities with readily determinable fair values:
Sales	20,590
Purchases	(212)	(392)
Equity securities without readily determinable fair values:
Sales	28,249	23,068
Maturities, calls and principal repayments	16,713	11,096
Purchases	(47,801)	(114,823)
Payment of tax equity investment commitments	(32,734)	(34,762)
Net increase in loans	(2,346,075)	(1,332,396)
Net decrease (increase) in fed funds sold and resell agreements	619,655	(192,191)
Net cash activity from acquisitions and divestitures		174,985
Net decrease in interest-bearing balances due from other financial institutions	258	958,769
Net purchases of premises and equipment	(22,978)	(23,427)
Net cash used in investing activities	(1,626,145)	(1,334,676)
FINANCING ACTIVITIES
Net (decrease) increase in demand and savings deposits	(337,148)	2,898,641
Net decrease in time deposits	(552,960)	(405,498)
Net (decrease) increase in fed funds purchased and repurchase agreements	(241,338)	300,258
Repayment of long-term debt		(11,055)
Cash dividends paid	(78,113)	(62,504)
Payment of common stock issuance costs		(524)
Proceeds from exercise of stock options and sales of treasury shares	950	670
Purchases of treasury stock	(37,901)	(15,724)
Common stock issuance		235,141
Preferred stock issuance		294,062
Net cash (used in) provided by financing activities	(1,246,510)	3,233,467
(Decrease) increase in cash and cash equivalents	(2,162,125)	2,547,198
Cash and cash equivalents at beginning of period	7,771,973	8,448,691
Cash and cash equivalents at end of period	5,609,848	10,995,889
Supplemental disclosures:
Income tax payments	83,535	20,402
Total interest payments	680,523	699,709
Noncash disclosures:
Acquisition of tax equity investments	2,500	29,314
Commitment to fund tax equity investments	2,500	29,314
Transfer of loans to other real estate owned	$ 1,489	900
Transfer of loans to other repossessed assets		39
Stock based compensation as consideration for acquisition		20,389
Common Stock
Noncash disclosures:
Issuance of stock as consideration for acquisition		2,783,510
Preferred Stock
Noncash disclosures:
Issuance of stock as consideration for acquisition		$ 115,230

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Loans	$ 41,149,726	$ 38,779,408
Allowance for credit losses on loans	(437,376)	(419,478)
Net loans	40,712,350	38,359,930
Loans held for sale	6,800	2,030
Securities:
Available for sale (amortized cost of $13,903,318 and $13,999,900, respectively)	13,488,159	13,709,141
Held to maturity, net of allowance for credit losses of $3,996 and $1,684, respectively (fair value of $5,239,447 and $5,250,465, respectively)	5,712,430	5,722,543
Trading securities	45,839	22,331
Other securities	693,502	676,300
Total securities	19,939,930	20,130,315
Federal funds sold and securities purchased under agreements to resell	928,438	1,548,093
Interest-bearing due from banks	4,951,010	6,940,535
Cash and due from banks	779,876	952,547
Premises and equipment, net	397,352	398,271
Accrued income	347,447	349,639
Goodwill	1,837,594	1,839,825
Other intangibles, net	439,949	486,869
Other assets	1,914,814	2,086,036
Total assets	72,255,560	73,094,090
Deposits:
Noninterest-bearing demand	16,177,250	17,143,341
Interest-bearing demand and savings	40,381,530	39,752,587
Time deposits under $250,000	1,834,890	1,934,617
Time deposits of $250,000 or more	1,373,012	1,826,245
Total deposits	59,766,682	60,656,790
Federal funds purchased and repurchase agreements	3,083,600	3,324,938
Long-term debt	480,126	474,229
Accrued expenses and taxes	360,694	435,351
Other liabilities	533,665	509,214
Total liabilities	64,224,767	65,400,522
SHAREHOLDERS' EQUITY
Fixed-Rate Reset Non-Cumulative Perpetual Preferred stock	294,066	294,066
Common stock, $1.00 par value; 160,000,000 shares authorized; 78,665,809 shares issued, 75,947,552 and 75,960,675 shares outstanding, respectively	78,666	78,666
Capital surplus	4,016,045	4,011,047
Retained earnings	4,197,812	3,736,413
Accumulated other comprehensive loss, net	(371,517)	(261,520)
Treasury stock, 2,718,257 and 2,705,134 shares, at cost, respectively	(184,279)	(165,104)
Total shareholders' equity	8,030,793	7,693,568
Total liabilities and shareholders' equity	72,255,560	73,094,090
Institutional Banking [Member]
Securities:
Goodwill	$ 76,492	$ 76,492