UMB reports fifth consecutive quarter of growth

The earnings are a 17 percent increase over the 53 cents per diluted share in first-quarter of 2005. The company attributed the increase in earnings to higher net interest income and lower noninterest expenses.

Net interest income in the quarter ended March 31 totaled $52.2 million, a $7.9 million increase over the same period a year earlier.

“Commercial loan growth continues to be the catalyst that leads our improved performance, with an increase of 21 percent over the same quarter last year,” said CEO Mariner Kemper in a news release. “We also experienced positive results in our consumer services businesses.”

Company assets totaled $7.64 billion as of March 31, an increase of 10.4 percent over totals from a year earlier. Deposits totaled $5.63 billion, up 12.6 percent.

UMB Financial declared a two-for-one stock split Tuesday after shareholders approved an increase in common shares from 33 million to 80 million. The split will be distributed May 30 to shareholders of record May 16.

Also Tuesday, the company’s board declared a 13-cent dividend on the post-split shares, a 4 percent increase from fourth-quarter 2005’s dividend. That dividend will be payable July 3 to shareholders of record June 12.

Shares of UMB Financial (Nasdaq: UMBF) closed April 26 at $67.92, compared to a 52-week range of $53.45 to $70.89.