UMB Bank records earnings increase

Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) posted second-quarter net income of $29.9 million, a 2.6 percent increase compared to $29.2 million in the same quarter of 2012.

The holding company, which operates two UMB Bank branches in Springfield, recorded diluted earnings per share of 74 cents for the quarter ending June 30, a 2-cent uptick from the second quarter a year ago, according to a news release.

"We are pleased to report that actual period-end loan balances increased 19.5 percent year-over-year, representing our 13th consecutive quarter of loan growth," UMB Chairman and CEO Mariner Kemper said in the release.

Second-quarter financial highlights:

• Net loans totaled $6.3 billion as of June 30, a 19.5 percent increase compared to $5.2 billion at the end of second-quarter 2012.
• Noninterest income rose 3 percent to $113.6 million from $110.2 million, while noninterest expense increased 3.9 percent to $150.3 million from $144.7 million.
• Assets under management jumped 18.3 percent to $36.6 billion.

As of June 30, UMB's assets totaled $15.3 billion, deposits were $11.8 billion and liabilities tallied $14 billion, the release said.

UMBF shares were trading at $59.68 as of 10:21 a.m., compared to a 52-week range of $40.27 to $61.18.