UMB marks centennial with record earnings

Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) celebrated its centennial with record annual earnings.

The holding company of two UMB Bank branches in Springfield recorded 2013 net income of $134 million, a 9.2 percent increase compared to profits of $122.7 million in 2012. UMB's diluted earnings per share last year amounted to $3.20, a 16-cent year-to-year boost, according to a news release.

2013 financial highlights:

• UMB recorded fourth-quarter profits of $34.7 million, a 64.6 percent increase compared to $21.1 million in net income in the same quarter a year prior. Chairman and CEO Mariner Kemper said the quarter was driven largely by loan growth. Particularly in the St. Louis area, loans made an impact, pushing the company's year-over-year loan growth to 40 percent. Net loans were $6.4 billion as of Dec. 31, a 14.8 percent bump from the same time in 2012.
• Interest income rose 5.3 percent to $89.1 million for the year, up from $84.6 million in 2012.
• UMB issued 3.9 million shares in September for a profit of $201.2 million, and again in October issued 585,000 shares for $30.2 million.

As of Dec. 31, the company's assets were $16.9 billion, deposits were $13.6 billion and liabilities were $15.4 billion, according to the release.

UMBF shares were trading at $60.08 as of 8:55 a.m., compared to a 52-week range of $43.56 to $68.27.