UMB profits flat at $26M

Kansas City-based UMB Financial Corp. (Nasdaq: UMBF) reported third-quarter earnings of $26.13 million, roughly flat from profits of $26.02 million in the same quarter of 2011.

The company, which operates two UMB Bank branches in Springfield, posted diluted earnings per share of 64 cents, equal to share earnings in the third quarter last year, according to a news release.

UMB Chairman and CEO Mariner Kemper pointed to third-quarter loan balances of $5.4 billion, a 12.8 percent increase from Sept. 30, 2011.

"This marks our 10th consecutive quarter growing loans," Kemper said in the release. "We are pleased to report yet another quarter of double-digit loan growth, with average balances increasing 10.5 percent over the third quarter of 2011."

Third-quarter highlights:

• The company increased its noninterest income 5.3 percent to $106.3 million and its noninterest expense 4.6 percent to $145.9 million.
• Salaries and employee benefits totaled $78.8 million, up from $74.9 million in the same quarter of 2011.
• Liabilities increased 9.3 percent to $12 billion as of Sept. 30, compared to $11 billion at the end of the third quarter last year.

As of June 30, UMB held 1.1 percent of the deposits in the five-county Springfield metropolitan statistical area, according to Federal Deposit Insurance Corp. data released Oct. 2. The company held $86.2 million in area deposits.

As of Sept. 30, UMB's assets were $13.3 billion and its deposits were $10.6 million. The company operates more than 600 branches and ATMs in Missouri and six other states, according to its website.

UMB's shares were trading at $44.41 as of 9:32 a.m., compared to a 52-week range of $33.05 to $52.61.