UMB records $19M net income in 4Q

Last edited 12:18 p.m., Jan. 27, 2011

UMB Financial Corp. (Nasdaq: UMBF), which operates three UMB Bank branches in Springfield, had fourth-quarter net income of $19 million, a 20 percent decrease from fiscal 2009 fourth-quarter net income of $23.8 million.

Earnings per diluted share were 47 cents during the quarter, compared to 59 cents in fourth-quarter 2009, according to a news release.

Fourth-quarter highlights:

• Interest income from loans was $55.8 million, compared to $54.5 million in fourth-quarter 2009
• Total interest income was $86.8 million, down from $89.5 million in fourth-quarter 2009
• Salaries and employee benefits increased to $72.4 million during the quarter, compared to $63 million in the same quarter of 2009
• Deposits were $7.5 million during the quarter, down from $11.3 million in 4Q 2009

For the fiscal year ended Dec. 31, the company had $91 million in net income, a 1.7 percent increase from fiscal 2009 net income of $89.5 million.

Earnings per diluted share were $2.27 during the year, compared to share earnings of $2.22 during fiscal 2009.

Total loans increased 6.2 percent to $4.6 billion, from $4.3 billion in fiscal 2009.

As of Dec. 31, total assets were $12.4 billion, compared to $11.7 billion at the end of FY 2009.

UMB Financial Corp. shares were trading at $41.67 as of 10:10 a.m. today, compared to a 52-week range of $31.77 to $44.68.[[In-content Ad]]