Southwest Missouri companies report 2004 earnings

Kansas City-based UMB Financial Corp. announced earnings of $42.8 million, or $1.98 per share, for the year ended Dec. 31. Results are down 27 percent from 2003’s earnings of $58.9 million, or $2.70 a share. A company news release said the decrease was a result of lower net interest income and lower noninterest income partially offset by lower provision for loan losses and lower noninterest expense.

“The interest rate environment continued to challenge our net interest margins during 2004,” CEO Mariner Kemper said in the release.

“The last quarter of the year showed that we are beginning to reverse the trends as our loan portfolio grew almost 2 percent and we had net growth in the number of consumer customers and accounts. A recovering economy, coupled with our strong balance sheet … position us well for growth in 2005.”

Net interest income for the year was $180.1 million, compared to $194.1 million in 2003. Average loans were $2.78 billion compared to $2.59 billion in 2003.

Fourth-quarter 2004 results were also down from the same time in 2003. Earnings were $11.7 million, or 54 cents per share – a 33.9 percent decrease from fourth-quarter 2003.

Also, the company declared its regular quarterly dividend of 22 cents per share, to be paid on April 1 to shareholders of record at the close of business March 11.

UMB Financial Corp. (Nasdaq: UMBF) closed Feb. 2 at $55.25 per share.

Leggett & Platt stock hits all-time high

Carthage-based Leggett & Platt reported earnings of 33 cents per diluted share for the fourth quarter, a 10 percent gain over the fourth quarter of the previous year. Fourth quarter sales of $1.28 billion were 12 percent higher than in the fourth quarter of 2003, while same location sales increased 11 percent, almost solely due to inflation.

“(It) was a very good year for Leggett’s investors,” CEO Felix E. Wright said in a company news release. “Our stock price rose 31 percent during the year, and traded at an all-time high of $30.68 in December. Compared to one year ago, the fourth quarter benefited from sales growth, full production at our steel mill, a lower tax rate and gains on asset sales.”

Leggett & Platt (NYSE: LEG) is a Fortune 500 diversified manufacturer that conceives, designs and produces a broad variety of engineered components and products.

Company stock ended the day Feb. 2 trading at $28.31 per share.

Commerce declares 24 cent dividend

Commerce Bancshares Inc. Board of Directors declared a 24 cent per-share quarterly dividend on the company’s common stock.

The dividend is payable March 28 to stockholders of record at the close of business March 9. The 24 cents per share is a 1 cent increase over the previous dividend.

Commerce stock (Nasdaq: CBSH) was trading at $48.52 per share at the close of business Feb. 2. The stock hit a 52-week high of $50.24 Jan. 30.

Jack Henry increases dividend payment

Monett-based Jack Henry & Associates Inc. announced Jan. 31 that its Board of Directors has increased the quarterly cash dividend on its common stock from 4 cents per share to 4.5 cents per share. The dividend is payable March 1 to stockholders of record as of Feb. 14.

Jack Henry stock (Nasdaq: JKHY) closed Feb. 2 trading at $20.93 per share, slightly under the 52-week high of $21.96 reached Jan. 19.

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