UMB Bank boosts quarterly profits by 12.5%

Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) improved its bottom line in the second quarter.

The company, which operates two UMB Bank branches in Springfield, reported a 12.5% increase in profits to $101.3 million, compared with $90.1 million a year earlier, according to a news release. Diluted share earnings rose to $2.07 from $1.85 per share year over year.

“We are pleased with our second -quarter financial results, including continued net interest income growth driven by balance sheet growth and net interest margin expansion, and solid credit metrics,” said Mariner Kemper, UMB Financial chair and CEO, in the release. "Our teams excel at building and maintaining strong relationships across our footprint, and we’re focused on continuing our long track record of growth."

As of June 30, UMB's assets were $44.5 billion, and deposits were $36.5 billion.

UMBF shares hit a 52-week high this morning of $104.22. The stock's 52-week low is $57.91 per share.