UMB earnings slide in 2Q

Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) produced second-quarter profits of $30.2 million, a 12.9 percent decrease compared to earnings of $34.7 million a year earlier.

The operator of two UMB Bank branches in Springfield reported earnings per diluted share of 65 cents for the three-month period ended June 30, representing an 11-cent downtick, according to a news release.

“To address ongoing revenue and expense pressures, we remain focused on revenue growth but have increased attention on our expense structure, as well,” UMB Chairman and CEO Mariner Kemper said in the release.

Second-quarter financial notes:
    •    UMB closed May 31 on its acquisition of Marquette Financial Cos., adding $1.3 billion in assets in the process.
    •    Salaries and employee benefits cost the company $99.6 million during the quarter, up from $89.5 million a year earlier.
    •    Noninterest income declined 10.8 percent to $119.6 million.

As of June 30, UMB’s assets were $18.4 billion and deposits were $14.5 billion, according to the release.

UMBF shares were trading at $54.46 as of 11:38 a.m., compared to a 52-week range of $47.26 to $61.