Springfield, MO

UMB’s earnings, revenue higher in Q3

Posted online

On higher loan balances, Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) improved its earnings and revenue in the third quarter.

The holding company of UMB Bank, including two branches in Springfield, reported net income of $48.1 million, a 15 percent increase from a year earlier, on revenue of $245.1 million, representing a 7 percent increase. Diluted share earnings rose 12 cents to 97 cents per share, according to a news release.

The company posted a 7.2 percent increase in average loans. The bank’s Greater Missouri region reflected that growth to a lesser degree.

“After a year of progress and change, we are excited to report a 2.1 percent increase in average loan balances for the third quarter compared to the same period last year,” said Tony Mayfield, chairman and CEO of UMB Bank in Greater Missouri, in the release. “Our team is focused on building relationships in the commercial and industrial sector along with the private wealth management and business banking industries.”

Third-quarter financial notes:
    •    Salaries and employee benefits were slightly higher at $99.8 million.
    •    Net interest income grew 13 percent to $140.9 million.
    •    Noninterest income was up 7.4 percent to $104.3 million.

As of Sept. 30, UMB reported assets of $20.3 billion, deposits of $16 billion and total loans of $10.9 billion. The company’s branches are in Missouri and seven other states, according to the release.

UMBF shares were trading at $73.65 as of 8:49 a.m., compared with a 52-week range of $59.81 to $81.55.


No comments on this story |
Please log in to add your comment
Editors' Pick

Startup Corner: Eden Garrett, Eden’s Flower Truck

The 21-year-old is working to graduate in May while cultivating her small business.

Most Read
SBJ Live logo
Need to Focus Leads to Sale of Business

“It’s been hard for me to choose. There is a point when I knew I needed to focus on one of these businesses,” says Elle Feldman, owner of Elle’s Patisserie and Lavare Spa (now rebranded as …

My Mentor - My Teammate in Life “He was a strong man of faith and courage and very wise - my biggest supporter in any endeavor in life,” says Tami North, Executive Director of the Rogersville Area Chamber of Commerce and one of …
From Cutbacks to Cutting Tracks “Every day you’ve gotta wake up and say, ‘I’ve gotta make money today,’ says, Ricky Smiley, Founder and Producer of Smiley Records, LLC. When Smiley was laid off from a job he held for 18 …
Consistent Marketing  “Marketing for a company can be very interesting, in the sense that it’s hard to stand out in the crowd from everyone else,” says Alisa Lawler, Vice President of Marketing and Business …
Booked - The 7 Habits of Highly Effective People “I think it’s a really great book and I wish I had read it earlier in my career,” says Candida Deckard, the Director of Human Resources and Safety at CNH Industrial Reman and one of Springfield …