UMB earnings fall 2% in third quarter

Earnings for the third quarter were $15.9 million, or 37 cents per share, a 1.9 percent fall from third-quarter 2005. Earnings for the nine months ended Sept. 30 were $44 million, or $1.03 per share, a 6.3 percent increase from the previous year.

Net interest income was up 12.5 percent for the quarter and 14.6 percent for the year-to-date. Noninterest income fell by 0.5 percent for the quarter from 2005, while noninterest expense increased $6.3 million, or 7 percent.

UMB experienced lending growth in the third quarter, as well as increases in trust and card services and mutual fund assets. Retail business was boosted by a summer promotion for a home equity line of credit, which generated more than $30 million in new home loans, and the bank’s small-business division grew by 92 percent in deposits from third-quarter 2005.

Also in the third quarter, UMB completed its acquisition of Denver-based Mountain States Bancorporation Inc., which had $284.1 million in consolidated assets.

Shares of UMB Financial (Nasdaq: UMBF) closed Tuesday at $36.89, not far from its 52-week high of $37.36.