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UMB Bank's Q3 earnings up nearly 10%

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Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) posted a nearly 10% increase in third-quarter profits.

The company, which operates two UMB Bank branches in Springfield, reported net income of $96.6 million, or $1.98 per diluted share, compared with $88 million, or $1.81 per diluted share, a year earlier, according to a news release.

"Our third-quarter results demonstrated strong loan growth, stable deposits, continued momentum in many of our fee generating businesses and solid asset quality,” said Mariner Kemper, chair, president and CEO, in the release. "Client sentiment remains cautiously optimistic amidst an uncertain geopolitical and interest rate environment."

As of Sept. 30, UMB Bank's assets were $41.5 billion and deposits were $33.4 billion, according to the release.

UMBF shares were trading at $67.51 as of 11:42 a.m., compared with a 52-week range of $50.68 to $92.68 per share.

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