UMB reports 18% earnings increase

Per-share earnings were 58 cents, up from 48 cents last year.

Net interest income was up 16.1 percent, noninterest income increased 9.2 percent and noninterest expense grew by 8.2 percent.

“Our fee-based businesses continue to help drive improvement in our operating results,” President and Chief Operating Officer Peter deSilva said in a news release. “We launched two new credit-card products this summer to build on our momentum in this space.”

Loan balances as of June 30 were $4.1 billion, up 3.8 percent from the same time last year. Increases were seen in commercial, financial, agricultural, real estate construction and real estate loans. Consumer loans, meanwhile, were down 27.3 percent.

Shares (Nasdaq: UMB) closed Tuesday at $56.37, compared to a 52-week range of $34.95 to $57.89.

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