UMB earnings rise in third quarter

Earnings per diluted share were 51 cents, up from 37 cents per share last year.

The company attributes the revenue increase to a 19.4 percent jump in noninterest income – which was $77 million – and a 5.8 percent increase in net interest income – which was $58 million. Those gains were partially offset by a 5.3 percent increase in noninterest expense.

“Our fee-based businesses continue to drive our success,” said President and Chief Operating Officer Peter deSilva in a company news release. “(Noninterest income) growth was driven by trust and securities processing income from our asset management and fund services divisions, as well as from the sale of our securities transfer product.”

Assets for the quarter were $7.8 billion, compared to $7.5 billion in third-quarter 2006, and average loans were $3.9 billion, up from $3.6 billion last year.

As of Sept. 30, UMB had total shareholders’ equity of $884.3 million, a 3.5 percent increase from third-quarter 2006.

Shares of the Kansas City-based holding company (Nasdaq: UMBF) closed today at $43.53, compared to $43.11 at close on Tuesday. The 52-week range is $35.17 to $47.06.