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UMB’s bottom line rises 29%

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Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) boosted its second-quarter earnings by 29 percent to $55.4 million from $42.8 million a year earlier.

The operator of two UMB Bank branches in Springfield posted diluted share earnings of of $1.11, up from 86 cents in second-quarter 2017, according to a news release.

“Highlights for the second quarter included 5.8 percent growth in our loan portfolio, continued positive operating leverage and a 56 basis point expansion in our loan yields,” said Mariner Kemper, chairman and CEO of UMB Bank, in the release.

Second-quarter financial notes:
    •    Revenue rose 1.1 percent to $250.5 million.
    •    Noninterest expense was roughly flat at $177.2 million.
    •    Salaries and employee benefits moved up 1.4 percent to $104.2 million.

UMB Bank held assets of $20.5 billion and deposits of $16.4 billion as of June 30, according to the release.

UMBF shares were trading at $72.98 as of 10:35 a.m., compared with a 52-week range of $62.27 to $82.14.

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