Springfield, MO

Log in Subscribe

UMB Bank posts slight gain in Q2 profits

Posted online

Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) concluded the second quarter with net income of nearly $57 million, a 2.8% increase compared with $55.4 million a year earlier.

The company, which operates two UMB Bank branches in Springfield, improved diluted share earnings by 5 cents to $1.16, according to a news release.

“Our results in the second quarter were driven by fee income and balance sheet expansion, which included average loan growth of 10.3% on an annualized basis,” said Mariner Kemper, chairman, president and CEO of UMB, in the release.

Second-quarter financial notes:
• Revenue rose 8.5% to $271.8 million.
• Salaries and employee benefits increased nearly 10% to $114.5 million.
• Total loans grew 11% to $12.9 billion.

UMB Bank’s assets were $24 billion and deposits were $19.4 billion as of June 30, according to the release.

UMBF shares this morning were trading as much as 2% higher on the earnings report. Shares were trading at $68.93 as of 10:38 a.m., compared with a 52-week range of $57 to $77.43.


No comments on this story |
Please log in to add your comment
Editors' Pick
Wilson Logistics invests in autonomous truck technology

Springfield company's order is set to equip over 1,000 vehicles by 2028.

Most Read Poll
Who has your vote for president?

View results