UMB reports 31 percent earnings growth

Diluted earnings per share for the quarter totaled 41 cents, up from 31 cents during the same period the year before.

The increase in revenue was due in part to a 9 percent, or $4.7 million, increase in net interest income, and a 12.7 percent, or $7.6 million, increase in noninterest income.

“Our net interest growth for the quarter is significantly higher than the growth projected for the industry,” said Mariner Kemper, chairman and CEO of UMB Financial Corp., in a news release. “End-of-period loans grew 13.8 percent over the first quarter of 2006, which is better than the 9 percent growth reported by the Federal Reserve for the industry during the quarter.”

The corporation had $8 billion in assets as of March 31, including $5.6 billion in total deposits, and $3.8 billion in net loans. UMB Financial Corp.’s banking subsidiaries own and operate 138 banking centers in Missouri, Illinois, Kansas, Oklahoma, Nebraska, Colorado and Arizona.

Shares of UMB stock (Nasdaq: UMBF) closed Tuesday at $38.37, compared to a 52-week range of $31.80-$39.07.