Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) recorded third-quarter net income of $34.4 million, a 31.8 percent increase from $26.1 million in the same quarter a year ago.
The holding company operating two UMB Bank branches in Springfield posted diluted earnings per share of 83 cents for the quarter ended Sept. 30, a 19-cent uptick from third-quarter 2012, according to a news release.
Among positive moves in the quarter, UMB officials pointed to a 20.9 percent increase in net loans to $6.4 billion, the company's 14th consecutive quarter of loan growth.
"For comparison, the nearly 1,000 depositories that have announced results through Oct. 21 reported median loan growth of just 2.6 percent," UMB Chairman and CEO Mariner Kemper said in the release.
He added the third quarter represents the seventh consecutive quarter of double-digit year-to-year loan growth.
UMB's third-quarter financial notes:
- The company's assets under management increased 27.4 percent to $38.7 billion from the same quarter last year.
- Noninterest income rose 14.4 percent to $15.3 million, and noninterest expense increased 4.9 percent to $7.2 million.
- On Sept. 16, UMB completed its issuance of 3.9 million shares of its common stock, for net proceeds of $201.2 million.
According to the Federal Deposit Insurance Corp.’s Deposit Market Share Report released Sept. 30, UMB holds a 1.2 percent share of the deposits in the Springfield metropolitan statistical area. In the five-county market, UMB ranks 21st with $97.1 million in deposits.
As of Sept. 30, UMB's assets were $16.2 billion, deposits were $13 billion and liabilities were $14.7 billion, according to the release.
UMBF shares were trading at $59.01 as of 8:44 a.m., compared to a 52-week range of $40.27 to $62.20.[[In-content Ad]]
