UMB Bank earnings rise 16%

Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) profits rose 15.8 percent to $34.7 million, compared to $29.9 million in the same quarter of 2013.

The holding company of two UMB Bank branches in Springfield improved diluted earnings per share by 2 cents to 76 cents in the second quarter, according to a news release.

Officials cited the bank's loan growth, now in its 17th consecutive quarter with gains. The company's average net loans were $6.9 billion at the end of the quarter.

"Loan growth continues to be a driving force behind our success, with average net loans increasing 12 percent during the second quarter of 2014, as compared to the second quarter of 2013," UMB Chairman and CEO Mariner Kemper said in the release.

Second-quarter financial notes:

• UMB's assets under management reached a company record of $43.7 billion during the quarter.
• Noninterest income rose 18 percent to $134 million, representing 60.9 percent of total revenue.
• Total liabilities fell slightly to $13.96 million at the end of the quarter, from $14.03 million a year earlier.

As of June 30, UMB's assets were $15.6 billion and deposits were $12.2 billion, according to the release.

UMBF shares were trading at $56.65 as of 9:31 a.m., compared to a 52-week range of $51.86 to $68.27.