UMB Reports Third-Quarter Earnings Increase

UMB Financial Corp. has announced earnings of $35.6 million for the third quarter or 2014, up $1.2 million over the Q3 earnings in 2013. For the nine months ended Sept. 30, earnings stood at $93.7 million, down $5.6 million from the first three quarters of 2013.

Mariner Kemper, UMB Financial’s chairman and CEO, said in a release that the company had seen diverse non-interest income growth across its business lines, bolstering earnings in a low-interest-rate environment. “Average loans and deposits grew, profit margins for our nonbank segments improved, and total company revenue expanded in the third quarter, year-over-year,” Kemper said. “Our strategy to shift our earning asset mix to loans remains a top priority.”

That strategy was reflected in a 9.2 percent increase in net loans for the quarter, to $7.0 billion, compared to the same quarter in 2013. And non-performing loans decreased slightly, to 0.46 percent of all loans, from 0.48 percent in the year-earlier period.

Banking operations listed total assets of $16.28 billion, ranking UMB second in the region in assets, while total assets under management, including those through its wealth-management subsidiary, Prairie Capital, hit $42.1 billion, up 7.9 percent from Q3 of 2013.