YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The company’s third-quarter earnings totaled $16.2 million, or 75 cents per diluted share. That’s a 34.7 percent increase over the third quarter of 2004. The company attributes the increase to higher net interest and fee-related income and net gains on the sale/closure of branch facilities.
“Commercial loans continued to lead our growth, with an increase of 33.5 percent over the same quarter last year,” said Chairman and CEO Mariner Kemper in a news release. “We are implementing a number of strategies to improve overall profitability and effectiveness of our distribution network. These efforts are clearly driving a solid year for UMB.”
Net interest income for the quarter was $48.7 million, up 7.7 percent over year-ago numbers. Loans totaled $3.3 billion for the third quarter, up 20 percent from the same time last year.
The company’s board of directors also approved a quarterly dividend of 25 cents per share, a 13.6 percent increase, payable on Jan. 3 to shareholders of record at the close of business Dec. 13.
UMB Financial Corp. has 11 banking centers in southwest Missouri. Shares of the company’s stock (Nasdaq: UMBF) closed Oct. 25 at $66.48. The 52-week range was $49.94 to $67.99.
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