UMB Financial Q3 2026 earnings rise 51% to $272M
Average loan balances were $41.7 billion, and nonperforming loans represented 28 basis points of total loans at quarter-end.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
UMB Financial Corporation (UMBF) reported third-quarter 2026 net income available to common shareholders of $272.3 million, up 51.0% from a year earlier, and revenue of $772.4 million, up 13.9%. Net interest income was $540.0 million, up 13.7%, while net interest margin on a fully taxable equivalent basis was 3.32%, 28 basis points above the third quarter of 2025. Average loans were $41.7 billion, up 12.4% year over year; average deposits were $58.2 billion, up 2.6%.
Net charge-offs were $14.0 million, or 13 basis points of average loans. Nonperforming loans were $117.9 million, equal to 28 basis points of total loans, compared with 31 basis points at June 30, 2026. The board declared a $0.50-per-share common dividend, payable January 4, 2027, to holders of record December 10, 2026. It also declared $193.75 per Series B preferred share, equal to $0.484375 per depositary share, payable January 15, 2027, to holders of record December 31, 2026.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointCommon-shareholder net income rose 51.0% year over year to $272.3 million.
- Moderate pointThird-quarter revenue increased 13.9% year over year to $772.4 million.
- Minor pointCommon dividend declared at $0.50 per share, versus $0.40 in Q3 2025.
Negative
- None.
Filing Explained
UMB reports a completed debt change: in mid-September 2026 it redeemed its outstanding
8-K Event Classification
Key Figures
Key Terms
Net interest margin financial
Operating pre-tax, pre-provision income financial
Nonperforming loans financial
Common equity Tier 1 capital ratio financial
Non-GAAP financial measure financial
Earnings Snapshot
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did UMBF's third-quarter 2026 results compare with a year earlier?
What dividends did UMBF declare, and when are they payable?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
Commission File Number:
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||
(State or other jurisdiction of |
|
(IRS Employer |
incorporation) |
|
Identification No.) |
(Address of principal executive offices, including zip code)
(
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
Pre-commencement communications pursuant to Rule 13c-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities Registered Pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
The |
||
The |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
On October 27, 2026, UMB Financial Corporation (the “Company”) issued a press release announcing the financial results for the Company for the quarter and period ended September 30, 2026. A copy of the press release is attached as Exhibit 99.1 and the information is hereby incorporated by reference herein. The Company does not incorporate by reference information presented at any website referenced in the press release.
The Company is furnishing a copy of materials that will be used in the Company's shareholder conference call at 8:30 a.m. (CT) on October 28, 2026. A copy of the materials is attached as Exhibit 99.2 and will be available on the Company's website at www.umb.com. The materials are dated October 27, 2026, and the Company disclaims any obligation to correct or update any of the materials in the future.
The information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 hereto, is being furnished and shall not be deemed to be “filed” with the Securities and Exchange Commission (“SEC”) for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section and is not incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to this Current Report on Form 8-K in such a filing.
Item 8.01 Other Events
On October 27, 2026, the Company issued a press release announcing the Board of Directors of the Company had declared a quarterly dividend of $0.50 per share that is payable on January 4, 2027 to stockholders of record of the Company's common stock as of the close of business on December 10, 2026. The Board of Directors of the Company also declared a dividend of $193.75 per share of the Company's Series B 7.750% preferred stock, which results in a dividend of $0.484375 per depositary share. The preferred stock dividend is payable on January 15, 2027, to stockholders of record of the Company's preferred stock as of the close on business on December 31, 2026.
Item 9.01 Financial Statements and Exhibits
99.1 |
Press Release announcing financial results for the quarter ended September 30, 2026.
|
99.2 |
Investor Presentation Materials, dated October 27, 2026.
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99.3 |
Press Release announcing dividend declaration.
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104 |
The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |
|
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
UMB FINANCIAL CORPORATION |
|
By: |
/s/ Ram Shankar |
|
Ram Shankar Chief Financial Officer |
Date: October 27, 2026
Exhibit 99.1
UMB Financial Corporation News Release
1010 Grand Boulevard
Kansas City, MO 64106
816.860.7000
umb.com
//FOR IMMEDIATE RELEASE//
Media Contact: Stephanie Hollander: 816.729.1027
Investor Relations Contact: Kay Gregory: 816.860.7106
UMB Financial Corporation Reports Third Quarter 2026 Results
Third Quarter 2026 Financial Highlights
(i) A non-GAAP financial measure reconciled later in this release to the nearest comparable GAAP measure.
KANSAS CITY, Mo. (October 27, 2026) – UMB Financial Corporation (Nasdaq: UMBF), a financial services company, announced net income available to common shareholders for the third quarter of 2026 of $272.3 million, or $3.56 per diluted share, compared to $271.8 million, or $3.56 per diluted share, in the second quarter of 2026 (linked quarter) and $180.4 million, or $2.36 per diluted share, in the third quarter of 2025.
Net operating income available to common shareholders, a non-GAAP financial measure reconciled later in this release to net income available to common shareholders, the nearest comparable GAAP measure, was $272.4 million, or $3.56 per diluted share, for the third quarter of 2026, compared to $273.0 million, or $3.57 per diluted share, for the linked quarter and $206.5 million, or $2.70 per diluted share, for the third quarter of 2025. Operating pre-tax, pre-provision income (operating PTPP), a non-GAAP measure reconciled later in this release to the components of net income before taxes, the nearest comparable GAAP measure, was $373.0 million, or $4.88 per diluted share, for the third quarter of 2026, compared to $380.1 million, or $4.97 per diluted share, for the linked quarter, and $293.4 million, or $3.84 per diluted share, for the third quarter of 2025. These operating PTPP results represent a 1.8% decrease on a linked-quarter basis and a 27.2% increase compared to the third quarter of 2025.
“Our third-quarter results demonstrate the strong momentum across UMB’s diversified lines of business, reflected in robust balance sheet and fee income growth, strong asset quality metrics, and a stable net interest margin that together produced superior risk-adjusted returns,” said Mariner Kemper, UMB Financial Corporation chairman and chief executive officer.
“Gross loan production reached a record $3.1 billion during the quarter, while net loan growth, after payoffs and paydowns, totaled $1.4 billion. Average commercial and industrial loan balances increased approximately 22% on a linked-quarter annualized basis, driving an 11% annualized increase in total average loans compared with the prior quarter. Our asset quality also improved, as of September 30, 2026, nonperforming loans declined approximately $10 million to $118 million, or 28 basis points of total loans, compared to 31 basis points as of June 30, 2026.”
Kemper continued, “While persistent inflation, the conflict in the Middle East, and higher short- and long-term interest rates may create headwinds, customer sentiment and demand for business investment across our markets and business lines remain strong, as demonstrated by our record third quarter production. We believe UMB’s interest-rate-neutral balance sheet and diversified financial services model position us well to navigate the anticipated environment. This includes a continued focus on innovation and evolution, most recently demonstrated in our Fund Services division with the continued expansion of its exchange-traded fund (ETF) servicing business, which now offers a fully in-house operating model that provides asset managers with flexible ETF servicing solutions and seamless support.”
“We remain focused on growing both sides of the balance sheet, maintaining a consistent net interest spread, preserving strong asset quality, and continued momentum in our fee businesses.”
Third quarter 2026 earnings discussion
Note: The acquisition of Heartland Financial USA, Inc. (HTLF) closed on January 31, 2025; as such, financial results for the fiscal periods since that date include the impact from the acquired operations. Financial results for the year-to-date 2025 include only eight months of impact of the acquired operations of HTLF.
Summary of quarterly financial results |
|
UMB Financial Corporation |
|
|||||||||
(unaudited, dollars in thousands, except per common share data) |
|
|
|
|
|
|
|
|
|
|||
|
|
Q3 |
|
|
Q2 |
|
|
Q3 |
|
|||
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|||
Net income (GAAP) |
|
$ |
278,085 |
|
|
$ |
277,570 |
|
|
$ |
188,316 |
|
Net income available to common shareholders (GAAP) |
|
|
272,272 |
|
|
|
271,758 |
|
|
|
180,372 |
|
Earnings per common share - diluted (GAAP) |
|
|
3.56 |
|
|
|
3.56 |
|
|
|
2.36 |
|
|
|
|
|
|
|
|
|
|
|
|||
Operating pre-tax, pre-provision income (Non-GAAP)(i) |
|
|
373,043 |
|
|
|
380,071 |
|
|
|
293,383 |
|
Operating pre-tax, pre-provision earnings per common share - diluted (Non-GAAP)(i) |
|
|
4.88 |
|
|
|
4.97 |
|
|
|
3.84 |
|
|
|
|
|
|
|
|
|
|
|
|||
Operating pre-tax, pre-provision income - FTE (Non-GAAP)(i) |
|
|
381,727 |
|
|
|
388,903 |
|
|
|
301,697 |
|
Operating pre-tax, pre-provision earnings per common share - FTE - diluted (Non-GAAP)(i) |
|
|
4.99 |
|
|
|
5.09 |
|
|
|
3.95 |
|
|
|
|
|
|
|
|
|
|
|
|||
Net operating income available to common shareholders (Non-GAAP)(i) |
|
|
272,357 |
|
|
|
273,030 |
|
|
|
206,546 |
|
Operating earnings per common share - diluted (Non-GAAP)(i) |
|
|
3.56 |
|
|
|
3.57 |
|
|
|
2.70 |
|
|
|
|
|
|
|
|
|
|
|
|||
GAAP |
|
|
|
|
|
|
|
|
|
|||
Return on average assets |
|
|
1.53 |
% |
|
|
1.55 |
% |
|
|
1.04 |
% |
Return on average common equity |
|
|
13.83 |
|
|
|
14.16 |
|
|
|
10.14 |
|
Efficiency ratio |
|
|
48.71 |
|
|
|
48.35 |
|
|
|
58.09 |
|
|
|
|
|
|
|
|
|
|
|
|||
Non-GAAP(i) |
|
|
|
|
|
|
|
|
|
|||
Operating return on average assets |
|
|
1.53 |
% |
|
|
1.56 |
% |
|
|
1.20 |
% |
Operating return on average common equity |
|
|
13.84 |
|
|
|
14.22 |
|
|
|
11.61 |
|
Operating efficiency ratio |
|
|
48.69 |
|
|
|
48.14 |
|
|
|
53.02 |
|
(i) See reconciliation of Non-GAAP measures to their nearest comparable GAAP measures later in this release.
Summary of year-to-date financial results |
|
UMB Financial Corporation |
|
|||||
(unaudited, dollars in thousands, except per share data) |
|
September |
|
|
September |
|
||
|
|
YTD |
|
|
YTD |
|
||
|
|
2026 |
|
|
2025 |
|
||
Net income (GAAP) |
|
$ |
817,093 |
|
|
$ |
487,043 |
|
Net income available to common shareholders (GAAP) |
|
|
799,655 |
|
|
|
475,074 |
|
Earnings per common share - diluted (GAAP) |
|
|
10.46 |
|
|
|
6.53 |
|
|
|
|
|
|
|
|
||
Operating pre-tax, pre-provision income (Non-GAAP)(i) |
|
|
1,116,895 |
|
|
|
835,858 |
|
Operating pre-tax, pre-provision earnings per common share - diluted (Non-GAAP)(i) |
|
|
14.61 |
|
|
|
11.49 |
|
|
|
|
|
|
|
|
||
Operating pre-tax, pre-provision income - FTE (Non-GAAP)(i) |
|
|
1,143,124 |
|
|
|
859,968 |
|
Operating pre-tax, pre-provision earnings per common share - FTE - diluted (Non-GAAP)(i) |
|
|
14.95 |
|
|
|
11.82 |
|
|
|
|
|
|
|
|
||
Net operating income available to common shareholders (Non-GAAP)(i) |
|
|
805,196 |
|
|
|
600,803 |
|
Operating earnings per common share - diluted (Non-GAAP)(i) |
|
|
10.54 |
|
|
|
8.26 |
|
|
|
|
|
|
|
|
||
GAAP |
|
|
|
|
|
|
||
Return on average assets |
|
|
1.52 |
% |
|
|
0.98 |
% |
Return on average common equity |
|
|
13.90 |
|
|
|
9.84 |
|
Efficiency ratio |
|
|
48.48 |
|
|
|
58.48 |
|
|
|
|
|
|
|
|
||
Non-GAAP(i) |
|
|
|
|
|
|
||
Operating return on average assets |
|
|
1.53 |
% |
|
|
1.23 |
% |
Operating return on average common equity |
|
|
14.00 |
|
|
|
12.45 |
|
Operating efficiency ratio |
|
|
48.16 |
|
|
|
53.21 |
|
Summary of revenue |
|
UMB Financial Corporation |
|
|||||||||||||||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
Q3 |
|
|
Q2 |
|
|
Q3 |
|
|
CQ vs. |
|
|
CQ vs. |
|
|||||
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
LQ |
|
|
PY |
|
|||||
Net interest income |
|
$ |
540,005 |
|
|
$ |
532,525 |
|
|
$ |
475,042 |
|
|
$ |
7,480 |
|
|
$ |
64,963 |
|
Noninterest income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Trust and securities processing |
|
|
104,033 |
|
|
|
98,295 |
|
|
|
87,926 |
|
|
|
5,738 |
|
|
|
16,107 |
|
Trading and investment banking |
|
|
5,269 |
|
|
|
5,314 |
|
|
|
7,026 |
|
|
|
(45 |
) |
|
|
(1,757 |
) |
Service charges on deposit accounts |
|
|
31,460 |
|
|
|
29,588 |
|
|
|
29,150 |
|
|
|
1,872 |
|
|
|
2,310 |
|
Insurance fees and commissions |
|
|
148 |
|
|
|
207 |
|
|
|
307 |
|
|
|
(59 |
) |
|
|
(159 |
) |
Brokerage fees |
|
|
24,181 |
|
|
|
25,400 |
|
|
|
20,470 |
|
|
|
(1,219 |
) |
|
|
3,711 |
|
Bankcard fees |
|
|
29,453 |
|
|
|
29,954 |
|
|
|
29,561 |
|
|
|
(501 |
) |
|
|
(108 |
) |
Investment securities gains (losses), net |
|
|
11,009 |
|
|
|
27,087 |
|
|
|
(4,093 |
) |
|
|
(16,078 |
) |
|
|
15,102 |
|
Other |
|
|
26,830 |
|
|
|
29,660 |
|
|
|
32,951 |
|
|
|
(2,830 |
) |
|
|
(6,121 |
) |
Total noninterest income |
|
$ |
232,383 |
|
|
$ |
245,505 |
|
|
$ |
203,298 |
|
|
$ |
(13,122 |
) |
|
$ |
29,085 |
|
Total revenue |
|
$ |
772,388 |
|
|
$ |
778,030 |
|
|
$ |
678,340 |
|
|
$ |
(5,642 |
) |
|
$ |
94,048 |
|
Net interest income (FTE) |
|
$ |
548,689 |
|
|
$ |
541,357 |
|
|
$ |
483,356 |
|
|
|
|
|
|
|
||
Net interest margin (FTE) |
|
|
3.32 |
% |
|
|
3.32 |
% |
|
|
3.04 |
% |
|
|
|
|
|
|
||
Total noninterest income as a % of total revenue |
|
|
30.1 |
|
|
|
31.6 |
|
|
|
30.0 |
|
|
|
|
|
|
|
||
Net interest income
Noninterest income
Noninterest expense
Summary of noninterest expense |
|
UMB Financial Corporation |
|
|||||||||||||||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
Q3 |
|
|
Q2 |
|
|
Q3 |
|
|
CQ vs. |
|
|
CQ vs. |
|
|||||
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
LQ |
|
|
PY |
|
|||||
Salaries and employee benefits |
|
$ |
221,240 |
|
|
$ |
227,162 |
|
|
$ |
220,329 |
|
|
$ |
(5,922 |
) |
|
$ |
911 |
|
Occupancy, net |
|
|
21,210 |
|
|
|
19,277 |
|
|
|
19,149 |
|
|
|
1,933 |
|
|
|
2,061 |
|
Equipment |
|
|
14,052 |
|
|
|
13,942 |
|
|
|
16,563 |
|
|
|
110 |
|
|
|
(2,511 |
) |
Supplies and services |
|
|
7,685 |
|
|
|
5,504 |
|
|
|
10,492 |
|
|
|
2,181 |
|
|
|
(2,807 |
) |
Marketing and business development |
|
|
15,286 |
|
|
|
13,916 |
|
|
|
11,094 |
|
|
|
1,370 |
|
|
|
4,192 |
|
Processing fees |
|
|
44,256 |
|
|
|
43,073 |
|
|
|
45,008 |
|
|
|
1,183 |
|
|
|
(752 |
) |
Legal and consulting |
|
|
14,882 |
|
|
|
14,415 |
|
|
|
21,616 |
|
|
|
467 |
|
|
|
(6,734 |
) |
Bankcard |
|
|
11,426 |
|
|
|
11,873 |
|
|
|
11,775 |
|
|
|
(447 |
) |
|
|
(349 |
) |
Amortization of other intangible assets |
|
|
23,243 |
|
|
|
23,460 |
|
|
|
25,317 |
|
|
|
(217 |
) |
|
|
(2,074 |
) |
Regulatory fees |
|
|
8,918 |
|
|
|
9,097 |
|
|
|
8,091 |
|
|
|
(179 |
) |
|
|
827 |
|
Other |
|
|
17,259 |
|
|
|
17,914 |
|
|
|
29,851 |
|
|
|
(655 |
) |
|
|
(12,592 |
) |
Total noninterest expense |
|
$ |
399,457 |
|
|
$ |
399,633 |
|
|
$ |
419,285 |
|
|
$ |
(176 |
) |
|
$ |
(19,828 |
) |
Income taxes
Balance sheet
Summary of average loans and leases - QTD Average |
UMB Financial Corporation |
|
||||||||||||||||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
Q3 |
|
|
Q2 |
|
|
Q3 |
|
|
CQ vs. |
|
|
CQ vs. |
|
|||||
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
LQ |
|
|
PY |
|
|||||
Commercial and industrial (i) |
|
$ |
18,464,470 |
|
|
$ |
17,521,531 |
|
|
$ |
14,787,494 |
|
|
$ |
942,939 |
|
|
$ |
3,676,976 |
|
Specialty lending |
|
|
685,964 |
|
|
|
648,786 |
|
|
|
570,079 |
|
|
|
37,178 |
|
|
|
115,885 |
|
Commercial real estate |
|
|
16,596,296 |
|
|
|
16,658,203 |
|
|
|
16,372,831 |
|
|
|
(61,907 |
) |
|
|
223,465 |
|
Consumer real estate |
|
|
4,520,730 |
|
|
|
4,498,319 |
|
|
|
4,306,981 |
|
|
|
22,411 |
|
|
|
213,749 |
|
Consumer |
|
|
239,515 |
|
|
|
251,958 |
|
|
|
242,526 |
|
|
|
(12,443 |
) |
|
|
(3,011 |
) |
Credit cards |
|
|
777,349 |
|
|
|
787,926 |
|
|
|
755,635 |
|
|
|
(10,577 |
) |
|
|
21,714 |
|
Leases and other |
|
|
465,264 |
|
|
|
257,227 |
|
|
|
102,965 |
|
|
|
208,037 |
|
|
|
362,299 |
|
Total loans |
|
$ |
41,749,588 |
|
|
$ |
40,623,950 |
|
|
$ |
37,138,511 |
|
|
$ |
1,125,638 |
|
|
$ |
4,611,077 |
|
(i) Commercial and industrial loans include all loans to Non-Depository Financial Institutions (NDFIs).
Summary of average securities - QTD Average |
|
UMB Financial Corporation |
|
|||||||||||||||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
Q3 |
|
|
Q2 |
|
|
Q3 |
|
|
CQ vs. |
|
|
CQ vs. |
|
|||||
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
LQ |
|
|
PY |
|
|||||
Securities available for sale: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
U.S. Treasury |
|
$ |
2,207,755 |
|
|
$ |
2,229,300 |
|
|
$ |
2,134,787 |
|
|
$ |
(21,545 |
) |
|
$ |
72,968 |
|
U.S. Agencies |
|
|
48,664 |
|
|
|
49,391 |
|
|
|
81,708 |
|
|
|
(727 |
) |
|
|
(33,044 |
) |
Mortgage-backed |
|
|
8,144,898 |
|
|
|
8,234,937 |
|
|
|
7,379,243 |
|
|
|
(90,039 |
) |
|
|
765,655 |
|
State and political subdivisions |
|
|
2,293,783 |
|
|
|
2,361,604 |
|
|
|
2,425,931 |
|
|
|
(67,821 |
) |
|
|
(132,148 |
) |
Corporates |
|
|
61,303 |
|
|
|
105,473 |
|
|
|
236,483 |
|
|
|
(44,170 |
) |
|
|
(175,180 |
) |
Collateralized loan obligations |
|
|
548,131 |
|
|
|
560,322 |
|
|
|
557,125 |
|
|
|
(12,191 |
) |
|
|
(8,994 |
) |
Total securities available for sale |
|
$ |
13,304,534 |
|
|
$ |
13,541,027 |
|
|
$ |
12,815,277 |
|
|
$ |
(236,493 |
) |
|
$ |
489,257 |
|
Securities held to maturity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
U.S. Treasury |
|
$ |
38,262 |
|
|
$ |
38,258 |
|
|
$ |
8,019 |
|
|
$ |
4 |
|
|
$ |
30,243 |
|
Mortgage-backed |
|
|
2,369,295 |
|
|
|
2,427,794 |
|
|
|
2,402,963 |
|
|
|
(58,499 |
) |
|
|
(33,668 |
) |
State and political subdivisions |
|
|
3,283,628 |
|
|
|
3,231,171 |
|
|
|
3,045,676 |
|
|
|
52,457 |
|
|
|
237,952 |
|
Total securities held to maturity |
|
$ |
5,691,185 |
|
|
$ |
5,697,223 |
|
|
$ |
5,456,658 |
|
|
$ |
(6,038 |
) |
|
$ |
234,527 |
|
Trading securities |
|
$ |
31,366 |
|
|
$ |
26,734 |
|
|
$ |
12,098 |
|
|
$ |
4,632 |
|
|
$ |
19,268 |
|
Other securities |
|
|
714,634 |
|
|
|
679,947 |
|
|
|
734,793 |
|
|
|
34,687 |
|
|
|
(20,159 |
) |
Total securities |
|
$ |
19,741,719 |
|
|
$ |
19,944,931 |
|
|
$ |
19,018,826 |
|
|
$ |
(203,212 |
) |
|
$ |
722,893 |
|
Summary of average deposits - QTD Average |
UMB Financial Corporation |
|
||||||||||||||||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
Q3 |
|
|
Q2 |
|
|
Q3 |
|
|
CQ vs. |
|
|
CQ vs. |
|
|||||
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
LQ |
|
|
PY |
|
|||||
Deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Noninterest-bearing demand |
|
$ |
13,819,642 |
|
|
$ |
14,712,647 |
|
|
$ |
13,858,827 |
|
|
$ |
(893,005 |
) |
|
$ |
(39,185 |
) |
Interest-bearing demand and savings |
|
|
41,082,010 |
|
|
|
39,660,632 |
|
|
|
39,555,585 |
|
|
|
1,421,378 |
|
|
|
1,526,425 |
|
Time deposits |
|
|
3,319,734 |
|
|
|
3,211,834 |
|
|
|
3,349,181 |
|
|
|
107,900 |
|
|
|
(29,447 |
) |
Total deposits |
|
$ |
58,221,386 |
|
|
$ |
57,585,113 |
|
|
$ |
56,763,593 |
|
|
$ |
636,273 |
|
|
$ |
1,457,793 |
|
Noninterest bearing deposits as % of total |
|
|
23.7 |
% |
|
|
25.5 |
% |
|
|
24.4 |
% |
|
|
|
|
|
|
||
Capital
Capital information |
|
UMB Financial Corporation |
|
|||||||||
(unaudited, dollars in thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|||
|
|
September 30, 2026 |
|
|
June 30, 2026 |
|
|
September 30, 2025 |
|
|||
Total equity |
|
$ |
7,852,854 |
|
|
$ |
8,030,793 |
|
|
$ |
7,443,950 |
|
Total common equity |
|
|
7,576,225 |
|
|
|
7,748,351 |
|
|
|
7,161,853 |
|
Accumulated other comprehensive loss, net |
|
|
(793,245 |
) |
|
|
(371,517 |
) |
|
|
(324,842 |
) |
Book value per common share |
|
|
99.75 |
|
|
|
102.02 |
|
|
|
94.29 |
|
Tangible book value per common share (Non-GAAP)(i) |
|
|
70.07 |
|
|
|
72.03 |
|
|
|
63.40 |
|
|
|
|
|
|
|
|
|
|
|
|||
Regulatory capital: |
|
|
|
|
|
|
|
|
|
|||
Common equity Tier 1 capital |
|
$ |
6,210,523 |
|
|
$ |
5,951,062 |
|
|
$ |
5,226,775 |
|
Tier 1 capital |
|
|
6,504,589 |
|
|
|
6,245,128 |
|
|
|
5,520,841 |
|
Total capital |
|
|
7,301,791 |
|
|
|
7,172,347 |
|
|
|
6,406,709 |
|
|
|
|
|
|
|
|
|
|
|
|||
Regulatory capital ratios: |
|
|
|
|
|
|
|
|
|
|||
Common equity Tier 1 capital ratio |
|
|
11.50 |
% |
|
|
11.45 |
% |
|
|
10.70 |
% |
Tier 1 risk-based capital ratio |
|
|
12.04 |
|
|
|
12.02 |
|
|
|
11.30 |
|
Total risk-based capital ratio |
|
|
13.52 |
|
|
|
13.80 |
|
|
|
13.11 |
|
Tier 1 leverage ratio |
|
|
9.41 |
|
|
|
9.11 |
|
|
|
8.33 |
|
(i) See reconciliation of Non-GAAP measures to their nearest comparable GAAP measures later in this release.
Asset Quality
Credit quality |
|
UMB Financial Corporation |
|
|||||||||||||||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
Q3 |
|
|
Q2 |
|
|
Q1 |
|
|
Q4 |
|
|
Q3 |
|
|||||
|
|
2026 |
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
2025 |
|
|||||
Net charge-offs - total loans |
|
$ |
14,003 |
|
|
$ |
15,861 |
|
|
$ |
18,929 |
|
|
$ |
12,654 |
|
|
$ |
18,383 |
|
Net loan charge-offs as a % of total average loans |
|
|
0.13 |
% |
|
|
0.16 |
% |
|
|
0.19 |
% |
|
|
0.13 |
% |
|
|
0.20 |
% |
Loans over 90 days past due |
|
$ |
15,648 |
|
|
$ |
13,715 |
|
|
$ |
14,924 |
|
|
$ |
18,403 |
|
|
$ |
6,131 |
|
Loans over 90 days past due as a % of total loans |
|
|
0.04 |
% |
|
|
0.03 |
% |
|
|
0.04 |
% |
|
|
0.05 |
% |
|
|
0.02 |
% |
Nonaccrual and restructured loans |
|
$ |
117,885 |
|
|
$ |
127,526 |
|
|
$ |
151,250 |
|
|
$ |
144,666 |
|
|
$ |
131,965 |
|
Nonaccrual and restructured loans as a % of total loans |
|
|
0.28 |
% |
|
|
0.31 |
% |
|
|
0.38 |
% |
|
|
0.37 |
% |
|
|
0.35 |
% |
Provision for credit losses |
|
$ |
31,000 |
|
|
$ |
28,000 |
|
|
$ |
27,000 |
|
|
$ |
25,000 |
|
|
$ |
22,500 |
|
Conference Call
The company will host a conference call to discuss its third quarter 2026 earnings results on Wednesday, October 28, 2026, at 8:30 a.m. (CT) / 9:30 a.m. (ET).
Interested parties may access the call by dialing (toll-free) 833-461-5787 or (international) 585-542-9983 and requesting to join the UMB Financial call with conference ID 376 166 699. The live webcast may also be accessed by visiting investorrelations.umb.com or by using the following link:
UMB Financial 3Q 2026 Conference Call
A replay of the conference call may be heard through November 11, 2026, by calling (toll-free) 833-309-1852 or (international) 929-828-5978. The replay access code required for playback is 376 166 699. The call replay may also be accessed at investorrelations.umb.com.
Non-GAAP Financial Information
In this release, we provide information about net operating income available to common shareholders, operating earnings per share – diluted (operating EPS), operating return on average common equity (operating ROE), operating return on average assets (operating ROA), operating noninterest expense, operating efficiency ratio, operating pre-tax, pre-provision income (operating PTPP), operating pre-tax, pre-provision earnings per share – diluted (operating PTPP EPS), operating pre-tax, pre-provision income on a fully tax equivalent basis (operating PTPP-FTE), operating pre-tax, pre-provision FTE earnings per share – diluted (operating PTPP-FTE EPS), tangible common shareholders’ equity, and tangible book value per share, all of which are non-GAAP financial measures. This information supplements the results that are reported according to generally accepted accounting principles in the United States (GAAP) and should not be viewed in isolation from, or as a substitute for, GAAP results. The differences between the non-GAAP financial measures – net operating income available to common shareholders, operating EPS, operating ROE, operating ROA, operating noninterest expense, operating efficiency ratio, operating PTPP, operating PTPP EPS, operating PTPP-FTE, operating PTPP-FTE EPS, tangible common shareholders’ equity, and tangible book value per share – and the nearest comparable GAAP financial measures are reconciled later in this release. The company believes that these non-GAAP financial
measures and the reconciliations may be useful to investors because they adjust for acquisition- and severance-related items, and the FDIC special assessment that management does not believe reflect the company’s fundamental operating performance.
Net operating income available to common shareholders for the relevant period is defined as GAAP net income available to common shareholders, adjusted to reflect the impact of excluding expenses related to Day 1 acquisition provision expense, acquisitions, severance expense, the FDIC special assessment, and the cumulative tax impact of these adjustments.
Operating EPS (diluted) is calculated as earnings per share as reported, adjusted to reflect, on a per share basis, the impact of excluding the non-GAAP adjustments described above for the relevant period. Operating ROE is calculated as net operating income available to common shareholders, divided by the company’s average total common shareholders’ equity for the relevant period. Operating ROA is calculated as net operating income available to common shareholders, divided by the company’s average assets for the relevant period. Operating noninterest expense for the relevant period is defined as GAAP noninterest expense, adjusted to reflect the pre-tax impact of non-GAAP adjustments described above. Operating efficiency ratio is calculated as the company’s operating noninterest expense, net of amortization of other intangibles, divided by the company’s total non-GAAP revenue (calculated as net interest income plus noninterest income, less gains on sales of securities available for sale, net).
Operating PTPP income for the relevant period is defined as GAAP net interest income plus GAAP noninterest income, less noninterest expense, adjusted to reflect the impact of excluding expenses related to acquisitions and severance, and the FDIC special assessment.
Operating PTPP-FTE for the relevant period is defined as GAAP net interest income on a fully tax equivalent basis plus GAAP noninterest income, less noninterest expense, adjusted to reflect the impact of excluding expenses related to acquisitions and severance, and the FDIC special assessment.
Tangible common shareholders’ equity for the relevant period is defined as GAAP common shareholders’ equity, net of intangible assets. Tangible book value per share is defined as tangible common shareholders’ equity divided by the company’s total common shares outstanding.
Forward-Looking Statements:
This press release contains, and our other communications may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “outlook,” “forecast,” “target,” “trend,” “plan,” “goal,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, results, or aspirations. All forward-looking statements are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Our actual future objectives, strategies, plans, prospects, performance, condition, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events, circumstances, or aspirations to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2025, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (SEC). In addition to such factors that have been disclosed previously: macroeconomic and adverse developments and uncertainties related to the collateral effects of the collapse of, and challenges for, domestic and international banks, including the impacts to the U.S. and global economies; sustained levels of high inflation and the potential for an economic recession on the heels of aggressive quantitative tightening by the Federal Reserve; and impacts related to or resulting from instability in the Middle East and Russia’s military action in Ukraine, such as the broader impacts to financial markets and the global macroeconomic and geopolitical environments, may
also cause actual results or other future events, circumstances, or aspirations to differ from our forward-looking statements. Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except to the extent required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K, or other applicable document that is filed or furnished with the SEC.
About UMB:
UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Mo. UMB offers commercial banking, which includes comprehensive deposit, lending, investment and retirement plan services; personal banking, which includes comprehensive deposit, lending, wealth management and financial planning services; and institutional banking, which includes asset servicing, corporate trust solutions, investment banking and healthcare services. UMB operates branches throughout Missouri, Arizona, California, Colorado, Iowa, Kansas, Illinois, Minnesota, Nebraska, New Mexico, Oklahoma, Texas, Utah, and Wisconsin. As the company’s reach continues to grow, it also serves business clients nationwide and institutional clients in several countries. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn.
Consolidated Balance Sheets |
|
UMB Financial Corporation |
|
|||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
||
|
|
September 30, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
ASSETS |
|
|
|
|
|
|
||
Loans |
|
$ |
42,530,123 |
|
|
$ |
37,706,507 |
|
Allowance for credit losses on loans |
|
|
(452,414 |
) |
|
|
(404,971 |
) |
Net loans |
|
|
42,077,709 |
|
|
|
37,301,536 |
|
Loans held for sale |
|
|
3,276 |
|
|
|
3,170 |
|
Securities: |
|
|
|
|
|
|
||
Available for sale |
|
|
13,008,308 |
|
|
|
13,378,280 |
|
Held to maturity, net of allowance for credit losses |
|
|
5,702,352 |
|
|
|
5,652,387 |
|
Trading securities |
|
|
49,781 |
|
|
|
35,811 |
|
Other securities |
|
|
750,292 |
|
|
|
719,575 |
|
Total securities |
|
|
19,510,733 |
|
|
|
19,786,053 |
|
Federal funds sold and resell agreements |
|
|
953,850 |
|
|
|
765,113 |
|
Interest-bearing due from banks |
|
|
4,296,685 |
|
|
|
7,892,392 |
|
Cash and due from banks |
|
|
712,683 |
|
|
|
1,073,005 |
|
Premises and equipment, net |
|
|
398,416 |
|
|
|
398,607 |
|
Accrued income |
|
|
346,106 |
|
|
|
331,645 |
|
Goodwill |
|
|
1,837,594 |
|
|
|
1,835,298 |
|
Other intangibles, net |
|
|
416,706 |
|
|
|
511,450 |
|
Other assets |
|
|
2,184,288 |
|
|
|
1,982,912 |
|
Total assets |
|
$ |
72,738,046 |
|
|
$ |
71,881,181 |
|
|
|
|
|
|
|
|
||
LIABILITIES |
|
|
|
|
|
|
||
Deposits: |
|
|
|
|
|
|
||
Noninterest-bearing demand |
|
$ |
14,589,109 |
|
|
$ |
16,188,227 |
|
Interest-bearing demand and savings |
|
|
42,164,948 |
|
|
|
40,549,723 |
|
Time deposits under $250,000 |
|
|
1,890,745 |
|
|
|
1,985,352 |
|
Time deposits of $250,000 or more |
|
|
1,524,543 |
|
|
|
1,412,541 |
|
Total deposits |
|
|
60,169,345 |
|
|
|
60,135,843 |
|
Federal funds purchased and repurchase agreements |
|
|
3,237,311 |
|
|
|
2,838,597 |
|
Long-term debt |
|
|
333,111 |
|
|
|
471,331 |
|
Accrued expenses and taxes |
|
|
403,163 |
|
|
|
453,437 |
|
Other liabilities |
|
|
742,262 |
|
|
|
538,023 |
|
Total liabilities |
|
|
64,885,192 |
|
|
|
64,437,231 |
|
|
|
|
|
|
|
|
||
SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
||
Series B Fixed-Rate Reset Non-Cumulative Perpetual Preferred stock |
|
|
294,066 |
|
|
|
294,066 |
|
Common stock |
|
|
78,666 |
|
|
|
78,666 |
|
Capital surplus |
|
|
4,025,449 |
|
|
|
4,001,834 |
|
Retained earnings |
|
|
4,431,928 |
|
|
|
3,559,717 |
|
Accumulated other comprehensive loss, net |
|
|
(793,245 |
) |
|
|
(324,842 |
) |
Treasury stock |
|
|
(184,010 |
) |
|
|
(165,491 |
) |
Total shareholders' equity |
|
|
7,852,854 |
|
|
|
7,443,950 |
|
Total liabilities and shareholders' equity |
|
$ |
72,738,046 |
|
|
$ |
71,881,181 |
|
Consolidated Statements of Income |
|
UMB Financial Corporation |
|
|||||||||||||
(unaudited, dollars in thousands except share and per share data) |
|
|
|
|
|
|
|
|
|
|
||||||
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
||||||||||
September 30, |
|
|
September 30, |
|
||||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
INTEREST INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Loans |
|
$ |
669,670 |
|
|
$ |
629,057 |
|
|
$ |
1,946,743 |
|
|
$ |
1,768,875 |
|
Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Taxable interest |
|
|
148,356 |
|
|
|
138,176 |
|
|
|
440,248 |
|
|
|
358,709 |
|
Tax-exempt interest |
|
|
36,196 |
|
|
|
33,035 |
|
|
|
105,831 |
|
|
|
96,022 |
|
Total securities income |
|
|
184,552 |
|
|
|
171,211 |
|
|
|
546,079 |
|
|
|
454,731 |
|
Federal funds and resell agreements |
|
|
10,984 |
|
|
|
9,365 |
|
|
|
38,306 |
|
|
|
25,050 |
|
Interest-bearing due from banks |
|
|
29,665 |
|
|
|
68,952 |
|
|
|
101,517 |
|
|
|
217,811 |
|
Trading securities |
|
|
524 |
|
|
|
312 |
|
|
|
1,183 |
|
|
|
937 |
|
Total interest income |
|
|
895,395 |
|
|
|
878,897 |
|
|
|
2,633,828 |
|
|
|
2,467,404 |
|
INTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Deposits |
|
|
318,225 |
|
|
|
362,882 |
|
|
|
909,525 |
|
|
|
1,009,441 |
|
Federal funds and repurchase agreements |
|
|
26,017 |
|
|
|
28,632 |
|
|
|
84,668 |
|
|
|
81,845 |
|
Other |
|
|
11,148 |
|
|
|
12,341 |
|
|
|
32,739 |
|
|
|
36,413 |
|
Total interest expense |
|
|
355,390 |
|
|
|
403,855 |
|
|
|
1,026,932 |
|
|
|
1,127,699 |
|
Net interest income |
|
|
540,005 |
|
|
|
475,042 |
|
|
|
1,606,896 |
|
|
|
1,339,705 |
|
Provision for credit losses |
|
|
31,000 |
|
|
|
22,500 |
|
|
|
86,000 |
|
|
|
129,500 |
|
Net interest income after provision for credit losses |
|
|
509,005 |
|
|
|
452,542 |
|
|
|
1,520,896 |
|
|
|
1,210,205 |
|
NONINTEREST INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Trust and securities processing |
|
|
104,033 |
|
|
|
87,926 |
|
|
|
296,995 |
|
|
|
250,970 |
|
Trading and investment banking |
|
|
5,269 |
|
|
|
7,026 |
|
|
|
18,323 |
|
|
|
19,107 |
|
Service charges on deposit accounts |
|
|
31,460 |
|
|
|
29,150 |
|
|
|
90,522 |
|
|
|
85,472 |
|
Insurance fees and commissions |
|
|
148 |
|
|
|
307 |
|
|
|
610 |
|
|
|
674 |
|
Brokerage fees |
|
|
24,181 |
|
|
|
20,470 |
|
|
|
70,670 |
|
|
|
59,097 |
|
Bankcard fees |
|
|
29,453 |
|
|
|
29,561 |
|
|
|
88,285 |
|
|
|
84,872 |
|
Investment securities gains (losses), net |
|
|
11,009 |
|
|
|
(4,093 |
) |
|
|
41,142 |
|
|
|
28,810 |
|
Other |
|
|
26,830 |
|
|
|
32,951 |
|
|
|
76,134 |
|
|
|
62,679 |
|
Total noninterest income |
|
|
232,383 |
|
|
|
203,298 |
|
|
|
682,681 |
|
|
|
591,681 |
|
NONINTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Salaries and employee benefits |
|
|
221,240 |
|
|
|
220,329 |
|
|
|
668,083 |
|
|
|
655,278 |
|
Occupancy, net |
|
|
21,210 |
|
|
|
19,149 |
|
|
|
59,562 |
|
|
|
53,789 |
|
Equipment |
|
|
14,052 |
|
|
|
16,563 |
|
|
|
41,314 |
|
|
|
49,937 |
|
Supplies and services |
|
|
7,685 |
|
|
|
10,492 |
|
|
|
18,793 |
|
|
|
21,660 |
|
Marketing and business development |
|
|
15,286 |
|
|
|
11,094 |
|
|
|
42,994 |
|
|
|
30,436 |
|
Processing fees |
|
|
44,256 |
|
|
|
45,008 |
|
|
|
129,388 |
|
|
|
129,496 |
|
Legal and consulting |
|
|
14,882 |
|
|
|
21,616 |
|
|
|
38,384 |
|
|
|
68,690 |
|
Bankcard |
|
|
11,426 |
|
|
|
11,775 |
|
|
|
35,140 |
|
|
|
36,933 |
|
Amortization of other intangible assets |
|
|
23,243 |
|
|
|
25,317 |
|
|
|
70,163 |
|
|
|
68,067 |
|
Regulatory fees |
|
|
8,918 |
|
|
|
8,091 |
|
|
|
26,285 |
|
|
|
25,587 |
|
Other |
|
|
17,259 |
|
|
|
29,851 |
|
|
|
49,867 |
|
|
|
57,367 |
|
Total noninterest expense |
|
|
399,457 |
|
|
|
419,285 |
|
|
|
1,179,973 |
|
|
|
1,197,240 |
|
Income before income taxes |
|
|
341,931 |
|
|
|
236,555 |
|
|
|
1,023,604 |
|
|
|
604,646 |
|
Income tax expense |
|
|
63,846 |
|
|
|
48,239 |
|
|
|
206,511 |
|
|
|
117,603 |
|
NET INCOME |
|
|
278,085 |
|
|
|
188,316 |
|
|
|
817,093 |
|
|
|
487,043 |
|
Less: Preferred dividends |
|
|
5,813 |
|
|
|
7,944 |
|
|
|
17,438 |
|
|
|
11,969 |
|
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS |
|
$ |
272,272 |
|
|
$ |
180,372 |
|
|
$ |
799,655 |
|
|
$ |
475,074 |
|
PER SHARE DATA |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net income per common share – basic |
|
$ |
3.58 |
|
|
$ |
2.38 |
|
|
$ |
10.52 |
|
|
$ |
6.57 |
|
Net income per common share – diluted |
|
|
3.56 |
|
|
|
2.36 |
|
|
|
10.46 |
|
|
|
6.53 |
|
Dividends per common share |
|
|
0.50 |
|
|
|
0.40 |
|
|
|
1.36 |
|
|
|
1.20 |
|
Weighted average common shares outstanding – basic |
|
|
75,950,551 |
|
|
|
75,943,943 |
|
|
|
75,985,017 |
|
|
|
72,349,952 |
|
Weighted average common shares outstanding – diluted |
|
|
76,504,135 |
|
|
|
76,366,818 |
|
|
|
76,474,906 |
|
|
|
72,744,289 |
|
Consolidated Statements of Comprehensive Income |
|
UMB Financial Corporation |
|
|||||||||||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
||||||||||
September 30, |
|
|
September 30, |
|
||||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Net income |
|
$ |
278,085 |
|
|
$ |
188,316 |
|
|
$ |
817,093 |
|
|
$ |
487,043 |
|
Other comprehensive (loss) income, before tax: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Unrealized gains and losses on debt securities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Change in unrealized holding gains and losses, net |
|
|
(537,904 |
) |
|
|
145,415 |
|
|
|
(661,875 |
) |
|
|
264,987 |
|
Less: Reclassification adjustment for net gains included in net income |
|
|
— |
|
|
|
(91 |
) |
|
|
(429 |
) |
|
|
(514 |
) |
Amortization of net unrealized loss on securities transferred from available-for-sale to held-to-maturity |
|
|
7,375 |
|
|
|
8,007 |
|
|
|
21,753 |
|
|
|
24,286 |
|
Change in unrealized gains and losses on debt securities |
|
|
(530,529 |
) |
|
|
153,331 |
|
|
|
(640,551 |
) |
|
|
288,759 |
|
Unrealized gains and losses on derivative hedges: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Change in unrealized gains and losses on derivative hedges, net |
|
|
(34,294 |
) |
|
|
(380 |
) |
|
|
(73,040 |
) |
|
|
36,652 |
|
Less: Reclassification adjustment for net (gains) losses included in net income |
|
|
(214 |
) |
|
|
3,114 |
|
|
|
(1,437 |
) |
|
|
5,131 |
|
Change in unrealized gains and losses on derivative hedges |
|
|
(34,508 |
) |
|
|
2,734 |
|
|
|
(74,477 |
) |
|
|
41,783 |
|
Other comprehensive (loss) income, before tax |
|
|
(565,037 |
) |
|
|
156,065 |
|
|
|
(715,028 |
) |
|
|
330,542 |
|
Income tax benefit (expense) |
|
|
143,309 |
|
|
|
(38,860 |
) |
|
|
183,303 |
|
|
|
(82,334 |
) |
Other comprehensive (loss) income |
|
|
(421,728 |
) |
|
|
117,205 |
|
|
|
(531,725 |
) |
|
|
248,208 |
|
Comprehensive (loss) income |
|
$ |
(143,643 |
) |
|
$ |
305,521 |
|
|
$ |
285,368 |
|
|
$ |
735,251 |
|
Consolidated Statements of Shareholders' Equity |
UMB Financial Corporation |
|
||||||||||||||||||||||||||
(unaudited, dollars in thousands except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
|
Preferred Stock |
|
|
Common Stock |
|
|
Capital Surplus |
|
|
Retained Earnings |
|
|
Accumulated Other Comprehensive (Loss) Income |
|
|
Treasury Stock |
|
|
Total |
|
|||||||
Balance - January 1, 2025 |
|
$ |
— |
|
|
$ |
55,057 |
|
|
$ |
1,145,638 |
|
|
$ |
3,174,948 |
|
|
$ |
(573,050 |
) |
|
$ |
(336,052 |
) |
|
$ |
3,466,541 |
|
Total comprehensive income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
487,043 |
|
|
|
248,208 |
|
|
|
— |
|
|
|
735,251 |
|
Cash dividends declared: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Preferred dividends Series A ($350.00 per share) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(4,025 |
) |
|
|
— |
|
|
|
— |
|
|
|
(4,025 |
) |
Preferred dividends Series B ($264.79 per share) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(7,944 |
) |
|
|
— |
|
|
|
— |
|
|
|
(7,944 |
) |
Common dividends ($1.20 per share) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(90,510 |
) |
|
|
— |
|
|
|
— |
|
|
|
(90,510 |
) |
Purchase of treasury stock |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(17,549 |
) |
|
|
(17,549 |
) |
Issuances of equity awards, net of forfeitures |
|
|
— |
|
|
|
— |
|
|
|
(18,663 |
) |
|
|
— |
|
|
|
— |
|
|
|
19,463 |
|
|
|
800 |
|
Recognition of equity-based compensation |
|
|
— |
|
|
|
— |
|
|
|
48,021 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
48,021 |
|
Sale of treasury stock |
|
|
— |
|
|
|
— |
|
|
|
265 |
|
|
|
— |
|
|
|
— |
|
|
|
261 |
|
|
|
526 |
|
Exercise of stock options |
|
|
— |
|
|
|
— |
|
|
|
115 |
|
|
|
— |
|
|
|
— |
|
|
|
301 |
|
|
|
416 |
|
Common stock issuance |
|
|
— |
|
|
|
— |
|
|
|
67,056 |
|
|
|
— |
|
|
|
— |
|
|
|
168,085 |
|
|
|
235,141 |
|
Preferred stock issuance, net of issuance costs |
|
|
294,066 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
294,066 |
|
Preferred stock redemption |
|
|
(110,705 |
) |
|
|
— |
|
|
|
(4,500 |
) |
|
|
205 |
|
|
|
— |
|
|
|
— |
|
|
|
(115,000 |
) |
Stock issuance for acquisition, net of issuance costs |
|
|
110,705 |
|
|
|
23,609 |
|
|
|
2,763,902 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,898,216 |
|
Balance - September 30, 2025 |
|
$ |
294,066 |
|
|
$ |
78,666 |
|
|
$ |
4,001,834 |
|
|
$ |
3,559,717 |
|
|
$ |
(324,842 |
) |
|
$ |
(165,491 |
) |
|
$ |
7,443,950 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Balance - January 1, 2026 |
|
$ |
294,066 |
|
|
$ |
78,666 |
|
|
$ |
4,011,047 |
|
|
$ |
3,736,413 |
|
|
$ |
(261,520 |
) |
|
$ |
(165,104 |
) |
|
$ |
7,693,568 |
|
Total comprehensive income |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
817,093 |
|
|
|
(531,725 |
) |
|
|
— |
|
|
|
285,368 |
|
Cash dividends declared: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
Preferred dividends Series B ($581.25 per share) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(17,438 |
) |
|
|
— |
|
|
|
— |
|
|
|
(17,438 |
) |
Common dividends ($1.36 per share) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(104,140 |
) |
|
|
— |
|
|
|
— |
|
|
|
(104,140 |
) |
Purchase of treasury stock |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(37,901 |
) |
|
|
(37,901 |
) |
Issuances of equity awards, net of forfeitures |
|
|
— |
|
|
|
— |
|
|
|
(16,266 |
) |
|
|
— |
|
|
|
— |
|
|
|
17,991 |
|
|
|
1,725 |
|
Recognition of equity-based compensation |
|
|
— |
|
|
|
— |
|
|
|
30,300 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
30,300 |
|
Sale of treasury stock |
|
|
— |
|
|
|
— |
|
|
|
276 |
|
|
|
— |
|
|
|
— |
|
|
|
265 |
|
|
|
541 |
|
Exercise of stock options |
|
|
— |
|
|
|
— |
|
|
|
92 |
|
|
|
— |
|
|
|
— |
|
|
|
739 |
|
|
|
831 |
|
Balance - September 30, 2026 |
|
$ |
294,066 |
|
|
$ |
78,666 |
|
|
$ |
4,025,449 |
|
|
$ |
4,431,928 |
|
|
$ |
(793,245 |
) |
|
$ |
(184,010 |
) |
|
$ |
7,852,854 |
|
Average Balances / Yields and Rates |
|
UMB Financial Corporation |
|
|||||||||||||
(tax - equivalent basis) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended September 30, |
|
|||||||||||||
|
|
2026 |
|
|
2025 |
|
||||||||||
|
|
Average |
|
|
Average |
|
|
Average |
|
|
Average |
|
||||
|
|
Balance |
|
|
Yield/Rate |
|
|
Balance |
|
|
Yield/Rate |
|
||||
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Loans, net of unearned interest |
|
$ |
41,749,588 |
|
|
|
6.36 |
% |
|
$ |
37,138,511 |
|
|
|
6.72 |
% |
Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Taxable |
|
|
15,340,425 |
|
|
|
3.84 |
|
|
|
14,798,834 |
|
|
|
3.70 |
|
Tax-exempt |
|
|
4,369,928 |
|
|
|
4.07 |
|
|
|
4,207,894 |
|
|
|
3.89 |
|
Total securities |
|
|
19,710,353 |
|
|
|
3.89 |
|
|
|
19,006,728 |
|
|
|
3.75 |
|
Federal funds and resell agreements |
|
|
978,399 |
|
|
|
4.45 |
|
|
|
727,473 |
|
|
|
5.11 |
|
Interest-bearing due from banks |
|
|
3,172,756 |
|
|
|
3.71 |
|
|
|
6,223,615 |
|
|
|
4.40 |
|
Trading securities |
|
|
31,366 |
|
|
|
6.72 |
|
|
|
12,098 |
|
|
|
10.72 |
|
Total earning assets |
|
|
65,642,462 |
|
|
|
5.46 |
|
|
|
63,108,425 |
|
|
|
5.58 |
|
Allowance for credit losses |
|
|
(438,567 |
) |
|
|
|
|
|
(388,761 |
) |
|
|
|
||
Other assets |
|
|
5,610,758 |
|
|
|
|
|
|
5,775,638 |
|
|
|
|
||
Total assets |
|
$ |
70,814,653 |
|
|
|
|
|
$ |
68,495,302 |
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Liabilities and Shareholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest-bearing deposits |
|
$ |
44,401,744 |
|
|
|
2.84 |
% |
|
$ |
42,904,766 |
|
|
|
3.36 |
% |
Federal funds and repurchase agreements |
|
|
3,096,558 |
|
|
|
3.33 |
|
|
|
2,863,481 |
|
|
|
3.97 |
|
Borrowed funds |
|
|
448,907 |
|
|
|
9.85 |
|
|
|
627,827 |
|
|
|
7.80 |
|
Total interest-bearing liabilities |
|
|
47,947,209 |
|
|
|
2.94 |
|
|
|
46,396,074 |
|
|
|
3.45 |
|
Noninterest-bearing demand deposits |
|
|
13,819,642 |
|
|
|
|
|
|
13,858,827 |
|
|
|
|
||
Other liabilities |
|
|
957,438 |
|
|
|
|
|
|
879,659 |
|
|
|
|
||
Shareholders' equity |
|
|
8,090,364 |
|
|
|
|
|
|
7,360,742 |
|
|
|
|
||
Total liabilities and shareholders' equity |
|
$ |
70,814,653 |
|
|
|
|
|
$ |
68,495,302 |
|
|
|
|
||
Net interest spread |
|
|
|
|
|
2.52 |
% |
|
|
|
|
|
2.13 |
% |
||
Net interest margin |
|
|
|
|
|
3.32 |
|
|
|
|
|
|
3.04 |
|
||
Average Balances / Yields and Rates |
|
UMB Financial Corporation |
|
|||||||||||||
(tax - equivalent basis) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Nine Months Ended September 30, |
|
|||||||||||||
|
|
2026 |
|
|
2025 |
|
||||||||||
|
|
Average |
|
|
Average |
|
|
Average |
|
|
Average |
|
||||
|
|
Balance |
|
|
Yield/Rate |
|
|
Balance |
|
|
Yield/Rate |
|
||||
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Loans, net of unearned interest |
|
$ |
40,594,251 |
|
|
|
6.41 |
% |
|
$ |
35,302,675 |
|
|
|
6.70 |
% |
Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Taxable |
|
|
15,523,910 |
|
|
|
3.79 |
|
|
|
13,312,899 |
|
|
|
3.60 |
|
Tax-exempt |
|
|
4,353,801 |
|
|
|
4.05 |
|
|
|
4,201,302 |
|
|
|
3.82 |
|
Total securities |
|
|
19,877,711 |
|
|
|
3.85 |
|
|
|
17,514,201 |
|
|
|
3.65 |
|
Federal funds and resell agreements |
|
|
1,181,976 |
|
|
|
4.33 |
|
|
|
656,637 |
|
|
|
5.10 |
|
Interest-bearing due from banks |
|
|
3,688,901 |
|
|
|
3.68 |
|
|
|
6,562,011 |
|
|
|
4.44 |
|
Trading securities |
|
|
25,203 |
|
|
|
6.47 |
|
|
|
16,519 |
|
|
|
8.00 |
|
Total earning assets |
|
|
65,368,042 |
|
|
|
5.44 |
|
|
|
60,052,043 |
|
|
|
5.55 |
|
Allowance for credit losses |
|
|
(425,183 |
) |
|
|
|
|
|
(359,267 |
) |
|
|
|
||
Other assets |
|
|
5,614,390 |
|
|
|
|
|
|
5,449,485 |
|
|
|
|
||
Total assets |
|
$ |
70,557,249 |
|
|
|
|
|
$ |
65,142,261 |
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Liabilities and Shareholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest-bearing deposits |
|
$ |
43,255,400 |
|
|
|
2.81 |
% |
|
$ |
40,357,901 |
|
|
|
3.34 |
% |
Federal funds and repurchase agreements |
|
|
3,408,806 |
|
|
|
3.32 |
|
|
|
2,775,160 |
|
|
|
3.94 |
|
Borrowed funds |
|
|
467,563 |
|
|
|
9.36 |
|
|
|
618,153 |
|
|
|
7.88 |
|
Total interest-bearing liabilities |
|
|
47,131,769 |
|
|
|
2.91 |
|
|
|
43,751,214 |
|
|
|
3.45 |
|
Noninterest-bearing demand deposits |
|
|
14,540,507 |
|
|
|
|
|
|
13,898,325 |
|
|
|
|
||
Other liabilities |
|
|
904,745 |
|
|
|
|
|
|
856,522 |
|
|
|
|
||
Shareholders' equity |
|
|
7,980,228 |
|
|
|
|
|
|
6,636,200 |
|
|
|
|
||
Total liabilities and shareholders' equity |
|
$ |
70,557,249 |
|
|
|
|
|
$ |
65,142,261 |
|
|
|
|
||
Net interest spread |
|
|
|
|
|
2.53 |
% |
|
|
|
|
|
2.10 |
% |
||
Net interest margin |
|
|
|
|
|
3.34 |
|
|
|
|
|
|
3.04 |
|
||
Business Segment Information |
|
UMB Financial Corporation |
|
|||||||||||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended September 30, 2026 |
|
|||||||||||||
|
|
Commercial Banking |
|
|
Institutional Banking |
|
|
Personal Banking |
|
|
Total |
|
||||
Net interest income |
|
$ |
375,919 |
|
|
$ |
73,716 |
|
|
$ |
90,370 |
|
|
$ |
540,005 |
|
Provision for credit losses |
|
|
27,946 |
|
|
|
575 |
|
|
|
2,479 |
|
|
|
31,000 |
|
Noninterest income |
|
|
51,395 |
|
|
|
133,279 |
|
|
|
47,709 |
|
|
|
232,383 |
|
Noninterest expense |
|
|
170,606 |
|
|
|
122,672 |
|
|
|
106,179 |
|
|
|
399,457 |
|
Income before taxes |
|
|
228,762 |
|
|
|
83,748 |
|
|
|
29,421 |
|
|
|
341,931 |
|
Income tax expense |
|
|
42,715 |
|
|
|
15,637 |
|
|
|
5,494 |
|
|
|
63,846 |
|
Net income |
|
$ |
186,047 |
|
|
$ |
68,111 |
|
|
$ |
23,927 |
|
|
$ |
278,085 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended September 30, 2025 |
|
|||||||||||||
|
|
Commercial Banking |
|
|
Institutional Banking |
|
|
Personal Banking |
|
|
Total |
|
||||
Net interest income |
|
$ |
331,555 |
|
|
$ |
60,997 |
|
|
$ |
82,490 |
|
|
$ |
475,042 |
|
Provision for credit losses |
|
|
19,465 |
|
|
|
460 |
|
|
|
2,575 |
|
|
|
22,500 |
|
Noninterest income |
|
|
56,089 |
|
|
|
115,379 |
|
|
|
31,830 |
|
|
|
203,298 |
|
Noninterest expense |
|
|
187,031 |
|
|
|
110,613 |
|
|
|
121,641 |
|
|
|
419,285 |
|
Income (loss) before taxes |
|
|
181,148 |
|
|
|
65,303 |
|
|
|
(9,896 |
) |
|
|
236,555 |
|
Income tax expense (benefit) |
|
|
36,940 |
|
|
|
13,317 |
|
|
|
(2,018 |
) |
|
|
48,239 |
|
Net income (loss) |
|
$ |
144,208 |
|
|
$ |
51,986 |
|
|
$ |
(7,878 |
) |
|
$ |
188,316 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Nine Months Ended September 30, 2026 |
|
|||||||||||||
|
|
Commercial Banking |
|
|
Institutional Banking |
|
|
Personal Banking |
|
|
Total |
|
||||
Net interest income |
|
$ |
1,103,836 |
|
|
$ |
230,053 |
|
|
$ |
273,007 |
|
|
$ |
1,606,896 |
|
Provision for credit losses |
|
|
76,456 |
|
|
|
1,700 |
|
|
|
7,844 |
|
|
|
86,000 |
|
Noninterest income |
|
|
149,623 |
|
|
|
384,298 |
|
|
|
148,760 |
|
|
|
682,681 |
|
Noninterest expense |
|
|
505,311 |
|
|
|
358,130 |
|
|
|
316,532 |
|
|
|
1,179,973 |
|
Income before taxes |
|
|
671,692 |
|
|
|
254,521 |
|
|
|
97,391 |
|
|
|
1,023,604 |
|
Income tax expense |
|
|
135,513 |
|
|
|
51,349 |
|
|
|
19,649 |
|
|
|
206,511 |
|
Net income |
|
$ |
536,179 |
|
|
$ |
203,172 |
|
|
$ |
77,742 |
|
|
$ |
817,093 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Nine Months Ended September 30, 2025 |
|
|||||||||||||
|
|
Commercial Banking |
|
|
Institutional Banking |
|
|
Personal Banking |
|
|
Total |
|
||||
Net interest income |
|
$ |
928,091 |
|
|
$ |
188,487 |
|
|
$ |
223,127 |
|
|
$ |
1,339,705 |
|
Provision for credit losses |
|
|
104,550 |
|
|
|
1,325 |
|
|
|
23,625 |
|
|
|
129,500 |
|
Noninterest income |
|
|
136,527 |
|
|
|
327,171 |
|
|
|
127,983 |
|
|
|
591,681 |
|
Noninterest expense |
|
|
530,691 |
|
|
|
323,015 |
|
|
|
343,534 |
|
|
|
1,197,240 |
|
Income (loss) before taxes |
|
|
429,377 |
|
|
|
191,318 |
|
|
|
(16,049 |
) |
|
|
604,646 |
|
Income tax expense (benefit) |
|
|
83,513 |
|
|
|
37,211 |
|
|
|
(3,121 |
) |
|
|
117,603 |
|
Net income (loss) |
|
$ |
345,864 |
|
|
$ |
154,107 |
|
|
$ |
(12,928 |
) |
|
$ |
487,043 |
|
The company has strategically aligned its operations into the following three reportable segments: Commercial Banking, Institutional Banking, and Personal Banking. Senior executive officers regularly evaluate business segment financial results produced by the company’s internal reporting system in deciding how to allocate resources and assess performance for individual business segments. The company’s reportable segments include certain corporate overhead, technology and service costs that are allocated based on methodologies that are applied consistently between periods. For comparability purposes, amounts in all periods are based on methodologies in effect at September 30, 2026.
Non-GAAP Financial Measures
Net operating income available to common shareholders Non-GAAP reconciliations: |
|
UMB Financial Corporation |
|
|||||||||||||
(unaudited, dollars in thousands except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Net income available to common shareholders (GAAP) |
|
$ |
272,272 |
|
|
$ |
180,372 |
|
|
$ |
799,655 |
|
|
$ |
475,074 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Day 1 acquisition provision expense |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
62,037 |
|
Acquisition expense |
|
|
112 |
|
|
|
35,603 |
|
|
|
6,140 |
|
|
|
102,266 |
|
Severance expense |
|
|
— |
|
|
|
404 |
|
|
|
2,036 |
|
|
|
1,222 |
|
FDIC special assessment |
|
|
— |
|
|
|
(1,679 |
) |
|
|
(885 |
) |
|
|
(1,776 |
) |
Tax-impact of adjustments (i) |
|
|
(27 |
) |
|
|
(8,154 |
) |
|
|
(1,750 |
) |
|
|
(38,020 |
) |
Total Non-GAAP adjustments (net of tax) |
|
|
85 |
|
|
|
26,174 |
|
|
|
5,541 |
|
|
|
125,729 |
|
Net operating income (Non-GAAP) |
|
$ |
272,357 |
|
|
$ |
206,546 |
|
|
$ |
805,196 |
|
|
$ |
600,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Earnings per common share - diluted (GAAP) |
|
$ |
3.56 |
|
|
$ |
2.36 |
|
|
$ |
10.46 |
|
|
$ |
6.53 |
|
Day 1 acquisition provision expense |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
0.85 |
|
Acquisition expense |
|
|
— |
|
|
|
0.46 |
|
|
|
0.08 |
|
|
|
1.40 |
|
Severance expense |
|
|
— |
|
|
|
0.01 |
|
|
|
0.03 |
|
|
|
0.02 |
|
FDIC special assessment |
|
|
— |
|
|
|
(0.02 |
) |
|
|
(0.01 |
) |
|
|
(0.02 |
) |
Tax-impact of adjustments (i) |
|
|
— |
|
|
|
(0.11 |
) |
|
|
(0.02 |
) |
|
|
(0.52 |
) |
Operating earnings per common share - diluted (Non-GAAP) |
|
$ |
3.56 |
|
|
$ |
2.70 |
|
|
$ |
10.54 |
|
|
$ |
8.26 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
GAAP |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Return on average assets |
|
|
1.53 |
% |
|
|
1.04 |
% |
|
|
1.52 |
% |
|
|
0.98 |
% |
Return on average common equity |
|
|
13.83 |
|
|
|
10.14 |
|
|
|
13.90 |
|
|
|
9.84 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Non-GAAP |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating return on average assets |
|
|
1.53 |
% |
|
|
1.20 |
% |
|
|
1.53 |
% |
|
|
1.23 |
% |
Operating return on average common equity |
|
|
13.84 |
|
|
|
11.61 |
|
|
|
14.00 |
|
|
|
12.45 |
|
(i) Calculated using the company’s marginal tax rate of 24.0%. Certain merger-related expenses are non-deductible.
Operating noninterest expense and operating efficiency ratio Non-GAAP reconciliations: |
|
UMB Financial Corporation |
|
|||||||||||||
(unaudited, dollars in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Noninterest expense |
|
$ |
399,457 |
|
|
$ |
419,285 |
|
|
$ |
1,179,973 |
|
|
$ |
1,197,240 |
|
Adjustments to arrive at operating noninterest expense (pre-tax): |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Acquisition expense |
|
|
112 |
|
|
|
35,603 |
|
|
|
6,140 |
|
|
|
102,266 |
|
Severance expense |
|
|
— |
|
|
|
404 |
|
|
|
2,036 |
|
|
|
1,222 |
|
FDIC special assessment |
|
|
— |
|
|
|
(1,679 |
) |
|
|
(885 |
) |
|
|
(1,776 |
) |
Total Non-GAAP adjustments (pre-tax) |
|
|
112 |
|
|
|
34,328 |
|
|
|
7,291 |
|
|
|
101,712 |
|
Operating noninterest expense (Non-GAAP) |
|
$ |
399,345 |
|
|
$ |
384,957 |
|
|
$ |
1,172,682 |
|
|
$ |
1,095,528 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Noninterest expense |
|
$ |
399,457 |
|
|
$ |
419,285 |
|
|
$ |
1,179,973 |
|
|
$ |
1,197,240 |
|
Less: Amortization of other intangibles |
|
|
23,243 |
|
|
|
25,317 |
|
|
|
70,163 |
|
|
|
68,067 |
|
Noninterest expense, net of amortization of other intangibles (Non-GAAP) (numerator A) |
|
$ |
376,214 |
|
|
$ |
393,968 |
|
|
$ |
1,109,810 |
|
|
$ |
1,129,173 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating noninterest expense |
|
$ |
399,345 |
|
|
$ |
384,957 |
|
|
$ |
1,172,682 |
|
|
$ |
1,095,528 |
|
Less: Amortization of other intangibles |
|
|
23,243 |
|
|
|
25,317 |
|
|
|
70,163 |
|
|
|
68,067 |
|
Operating expense, net of amortization of other intangibles (Non-GAAP) (numerator B) |
|
$ |
376,102 |
|
|
$ |
359,640 |
|
|
$ |
1,102,519 |
|
|
$ |
1,027,461 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net interest income |
|
$ |
540,005 |
|
|
$ |
475,042 |
|
|
$ |
1,606,896 |
|
|
$ |
1,339,705 |
|
Noninterest income |
|
|
232,383 |
|
|
|
203,298 |
|
|
|
682,681 |
|
|
|
591,681 |
|
Less: Gains on sales of securities available for sale, net |
|
|
— |
|
|
|
91 |
|
|
|
429 |
|
|
|
514 |
|
Total Non-GAAP Revenue (denominator A) |
|
$ |
772,388 |
|
|
$ |
678,249 |
|
|
$ |
2,289,148 |
|
|
$ |
1,930,872 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Efficiency ratio (numerator A/denominator A) |
|
|
48.71 |
% |
|
|
58.09 |
% |
|
|
48.48 |
% |
|
|
58.48 |
% |
Operating efficiency ratio (Non-GAAP) (numerator B/denominator A) |
|
|
48.69 |
|
|
|
53.02 |
|
|
|
48.16 |
|
|
|
53.21 |
|
Operating pre-tax, pre-provision income non-GAAP reconciliations: |
UMB Financial Corporation |
|
||||||||||||||
(unaudited, dollars in thousands except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Net interest income (GAAP) |
|
$ |
540,005 |
|
|
$ |
475,042 |
|
|
$ |
1,606,896 |
|
|
$ |
1,339,705 |
|
Noninterest income (GAAP) |
|
|
232,383 |
|
|
|
203,298 |
|
|
|
682,681 |
|
|
|
591,681 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Noninterest expense (GAAP) |
|
|
399,457 |
|
|
|
419,285 |
|
|
|
1,179,973 |
|
|
|
1,197,240 |
|
Adjustments to arrive at operating noninterest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Acquisition expense |
|
|
112 |
|
|
|
35,603 |
|
|
|
6,140 |
|
|
|
102,266 |
|
Severance expense |
|
|
— |
|
|
|
404 |
|
|
|
2,036 |
|
|
|
1,222 |
|
FDIC special assessment |
|
|
— |
|
|
|
(1,679 |
) |
|
|
(885 |
) |
|
|
(1,776 |
) |
Total Non-GAAP adjustments |
|
|
112 |
|
|
|
34,328 |
|
|
|
7,291 |
|
|
|
101,712 |
|
Operating noninterest expense (Non-GAAP) |
|
|
399,345 |
|
|
|
384,957 |
|
|
|
1,172,682 |
|
|
|
1,095,528 |
|
Operating pre-tax, pre-provision income (Non-GAAP) |
|
$ |
373,043 |
|
|
$ |
293,383 |
|
|
$ |
1,116,895 |
|
|
$ |
835,858 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net interest income earnings per common share - diluted (GAAP) |
|
$ |
7.06 |
|
|
$ |
6.22 |
|
|
$ |
21.01 |
|
|
$ |
18.42 |
|
Noninterest income (GAAP) |
|
|
3.04 |
|
|
|
2.66 |
|
|
|
8.93 |
|
|
|
8.13 |
|
Noninterest expense (GAAP) |
|
|
5.22 |
|
|
|
5.49 |
|
|
|
15.43 |
|
|
|
16.46 |
|
Acquisition expense |
|
|
— |
|
|
|
0.46 |
|
|
|
0.08 |
|
|
|
1.40 |
|
Severance expense |
|
|
— |
|
|
|
0.01 |
|
|
|
0.03 |
|
|
|
0.02 |
|
FDIC special assessment |
|
|
— |
|
|
|
(0.02 |
) |
|
|
(0.01 |
) |
|
|
(0.02 |
) |
Operating pre-tax, pre-provision earnings per common share - diluted (Non-GAAP) |
|
$ |
4.88 |
|
|
$ |
3.84 |
|
|
$ |
14.61 |
|
|
$ |
11.49 |
|
Operating pre-tax, pre-provision income - FTE Non-GAAP reconciliations: |
|
UMB Financial Corporation |
|
|||||||||||||
(unaudited, dollars in thousands except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Net interest income (GAAP) |
|
$ |
540,005 |
|
|
$ |
475,042 |
|
|
$ |
1,606,896 |
|
|
$ |
1,339,705 |
|
Adjustments to arrive at net interest income - FTE: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Tax equivalent interest |
|
|
8,684 |
|
|
|
8,314 |
|
|
|
26,229 |
|
|
|
24,110 |
|
Net interest income - FTE (Non-GAAP) |
|
|
548,689 |
|
|
|
483,356 |
|
|
|
1,633,125 |
|
|
|
1,363,815 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Noninterest income (GAAP) |
|
|
232,383 |
|
|
|
203,298 |
|
|
|
682,681 |
|
|
|
591,681 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Noninterest expense (GAAP) |
|
|
399,457 |
|
|
|
419,285 |
|
|
|
1,179,973 |
|
|
|
1,197,240 |
|
Adjustments to arrive at operating noninterest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Acquisition expense |
|
|
112 |
|
|
|
35,603 |
|
|
|
6,140 |
|
|
|
102,266 |
|
Severance expense |
|
|
— |
|
|
|
404 |
|
|
|
2,036 |
|
|
|
1,222 |
|
FDIC special assessment |
|
|
— |
|
|
|
(1,679 |
) |
|
|
(885 |
) |
|
|
(1,776 |
) |
Total Non-GAAP adjustments |
|
|
112 |
|
|
|
34,328 |
|
|
|
7,291 |
|
|
|
101,712 |
|
Operating noninterest expense (Non-GAAP) |
|
|
399,345 |
|
|
|
384,957 |
|
|
|
1,172,682 |
|
|
|
1,095,528 |
|
Operating pre-tax, pre-provision income - FTE (Non-GAAP) |
|
$ |
381,727 |
|
|
$ |
301,697 |
|
|
$ |
1,143,124 |
|
|
$ |
859,968 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net interest income earnings per common share - diluted (GAAP) |
|
$ |
7.06 |
|
|
$ |
6.22 |
|
|
$ |
21.01 |
|
|
$ |
18.42 |
|
Tax equivalent interest |
|
|
0.11 |
|
|
|
0.11 |
|
|
|
0.34 |
|
|
|
0.33 |
|
Net interest income - FTE (Non-GAAP) |
|
|
7.17 |
|
|
|
6.33 |
|
|
|
21.35 |
|
|
|
18.75 |
|
Noninterest income (GAAP) |
|
|
3.04 |
|
|
|
2.66 |
|
|
|
8.93 |
|
|
|
8.13 |
|
Noninterest expense (GAAP) |
|
|
5.22 |
|
|
|
5.49 |
|
|
|
15.43 |
|
|
|
16.46 |
|
Acquisition expense |
|
|
— |
|
|
|
0.46 |
|
|
|
0.08 |
|
|
|
1.40 |
|
Severance expense |
|
|
— |
|
|
|
0.01 |
|
|
|
0.03 |
|
|
|
0.02 |
|
FDIC special assessment |
|
|
— |
|
|
|
(0.02 |
) |
|
|
(0.01 |
) |
|
|
(0.02 |
) |
Operating pre-tax, pre-provision income - FTE earnings per common share - diluted (Non-GAAP) |
|
$ |
4.99 |
|
|
$ |
3.95 |
|
|
$ |
14.95 |
|
|
$ |
11.82 |
|
Tangible book value non-GAAP reconciliations: |
UMB Financial Corporation |
|
||||||
(unaudited, dollars in thousands except share and per share data) |
|
|
|
|
|
|
||
|
|
As of September 30, |
|
|||||
|
|
2026 |
|
|
2025 |
|
||
Total common shareholders' equity (GAAP) |
|
$ |
7,576,225 |
|
|
$ |
7,161,853 |
|
Less: Intangible assets |
|
|
|
|
|
|
||
Goodwill |
|
|
1,837,594 |
|
|
|
1,835,298 |
|
Other intangibles, net |
|
|
416,706 |
|
|
|
511,450 |
|
Total intangibles, net |
|
|
2,254,300 |
|
|
|
2,346,748 |
|
Total tangible common shareholders' equity (Non-GAAP) |
|
$ |
5,321,925 |
|
|
$ |
4,815,105 |
|
|
|
|
|
|
|
|
||
Total common shares outstanding |
|
|
75,951,697 |
|
|
|
75,953,713 |
|
|
|
|
|
|
|
|
||
Ratio of total common shareholders' equity (book value) per share |
|
$ |
99.75 |
|
|
$ |
94.29 |
|
Ratio of total tangible common shareholders' equity (tangible book value) per share (Non-GAAP) |
|
|
70.07 |
|
|
|
63.40 |
|
3rd Quarter 2026 Update October 27, 2026
Presentation Index Corporate Overview & Investment Thesis 3rd Quarter 2026 Results Long-Term Performance Trends Appendix 3 11 28 38 46 Board of Directors Forward-Looking Statements Non-GAAP Reconciliations Please refer to the Forward-Looking Statements on slide 48 for important disclosures about information contained in this presentation. Peer Group Purchase Accounting Update 8 Line of Business Updates
Corporate Overview Asset-based lending Healthcare Services National Presence International Presence UMBF Trust & Agency Services – Dublin, Ireland Specialized Lending Verticals Corporate Trust Capital Markets (5) Fund Services Private Wealth Management & Personal Trust 192 banking centers (4) 360 ATMs UMB Bank Presence UMB Financial Corporation Headquarters Highlights As of, or for the 3 months ended 09/30/26. (1) Includes $18.4B in managed assets and $5.2B in Assets Under Administration for Private Wealth customers; (2) Operating ROATCE is a non-GAAP measure, reconciled on slide 52; (3) Operating efficiency ratio is a non-GAAP measure; reconciled on slide 51; (4) As of 09/30/26, we had 192 physical locations licensed with the OCC, including 189 retail branches plus 3 commercial or private banking centers; (5) UMB Bank, n.a. Capital Markets Division.
Business Model Our Diverse Foundation Commercial & Personal Banking Services 3Q‘26 Revenue: $565.4 million; 3Q‘26 Average Deposits: $40.3 billion Average loans: $4.8B (1) (2) Average deposits: $13.4B Retail deposit and lending services through 192 banking centers (3) and online Private banking services Consumer mortgage AUM = $18.4B AUA = $5.2B Financial & estate planning Investment management Wealth solutions Trust and custody Business succession and exit planning Insurance settlements Retirement plan services Direct private equity investment access C&I lending Small business lending CRE and Construction lending Specialized Expertise: Average loans: $36.2B (1) Average deposits: $26.9B Agribusiness Energy Practice finance Franchise lending Mezzanine debt and equity investments Commercial Consumer Private Wealth Institutional Banking Services 3Q’26 Revenue: $207.0 million; 3Q‘26 Average Deposits: $17.9 billion Institutional Banking provides solutions for the entire marketplace; $621.5 billion in AUA (4) Fund Services Fund accounting and administration; transfer agency Exchange-traded fund servicing Alternative/private investment servicing Investor Solutions Banking, cash management and specialty services for financial firms Institutional Custody Domestic and international custody services Corporate Trust Bond trustee, paying agent and escrow services Specialty Trust & Agency Solutions Default workout and successor trustee services Aviation, ABS and loan agency services CLO trustee and loan administration services Capital Markets Division (5) Fixed income sales and trading Public finance Asset / liability management services Healthcare Services Health savings and benefit spending accounts Healthcare payment solutions Aviation lending Asset-based lending Beverage lending Healthcare lending Treasury management Merchant payments Retirement plan services Metrics as of, or for quarter ended, 09/30/26. (1) Excludes credit card; (2) Includes consumer plus residential real estate loans; (3) As of 09/30/26, we had 192 physical locations licensed with the OCC, including 189 retail branches plus 3 commercial or private banking centers; (4) Includes AUA in Fund Services/custody and Healthcare Services; (5) Products offered through UMB Bank, n.a. Capital Markets Division: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED.
Investment Thesis Opportunity in Our Diverse Business Model Track record of strong loan growth – opportunities remain Underpenetrated across our geographic footprint, focused on market share gains Underpenetrated vertically on an asset class basis; built out specialized teams Opportunity to leverage capacity and capabilities in newly-acquired markets Diverse deposit base across multiple lines of business, customer segments and geographies No one commercial sector represents more than 5.3% of total deposits Long-tenured relationships with clients using multiple UMB products and services Flexible balance sheet well-positioned for changing interest rate environments Above peer earning asset growth Lower loan-to-deposit ratio provides flexibility 24% of average deposit balances in DDA Focus on returning value to shareholders; risk-adjusted returns EPS and tangible book value growth have outpaced peers over the long term Consistent dividend growth Differentiated revenue profile and growing fee income Revenue from diverse lines of business and verticals provides a natural hedge in a variety of rate environments Lower-than-peer reliance on mortgage and NSF/OD revenue Time-tested underwriting philosophy Unwavering credit standards Excellent long-term UMB track record; result of long-tenured credit team – average of 20 years with UMB Executive Credit Oversight (CEO of UMBFC, CEO of UMB Bank & Chief Credit Officer) – average of 34 years with UMB Variable asset base – 77% of total loans reprice within 12 months $3.2 billion of fixed rate loans reprice within 12 months; average rate 5.23% $2.3 billion of securities cash flow expected within 12 months; average rate 3.83% Ample liquidity sources and regulatory capital levels Access to multiple contingent funding sources Strong capital generation through earnings accretion
Beyond Financials Our Culture Our Values Our Commitment Our Vision the unparalleled customer experience Customers First We do the unparalleled to create an environment that consistently exceeds the expectations of our customers. Integrity & Trust We demonstrate our uncompromising honesty and integrity to earn the trust of everyone we serve. Performance & Strength We achieve sustainable greatness by delivering on our promise, remaining independent and maintaining financial soundness. Associate Spirit We rely upon our people and their collective attitude and skills to differentiate us from our competitors. Inclusion & Diversity We believe an inclusive and diverse culture energizes the workplace and ignites innovation. Creating an unparalleled customer experience requires a culture where our people feel part of something more, something bigger. We foster this experience through our policies, our business decisions and our expectations of each associate. the unparalleled customer experience An unwavering commitment to doing more for our customers. Whether it’s having a heart for each other, our customers or our communities, we support work through inclusive policies and empowering people to create fulfilling lives in and out of the workplace. MORE HEART Our goal is to grow existing strengths and build new skills. We’re committed to empowering our workforce to make an impact and achieve their goals through open conversations and providing the tools to develop potential. MORE OPPORTUNITY MORE TRUST Our associates have confidence they will be encouraged and expected to do the right thing at all times — no matter what. We’re focused on setting clear expectations and a leadership team who is accessible and transparent.
Beyond Financials Our Commitment to Corporate Citizenship Read our full Corporate Citizenship Report at UMB.com/ESGreport Our programs reinforce our values of doing the right thing, supporting our associates and communities, and providing the unparalleled customer experience. Supporting inclusive, equitable and sustainable economic growth. Remaining committed to the prosperity of the communities we serve. Using an ESG lens in considering long-term financial sustainability and strategic risk management opportunities. ESG Efforts We are a CEO Action for Inclusion & Diversity signatory and are dedicated to building greater understanding and creating a workplace that reflects the diversity of our society. Eight Business Resource Groups with more than 700 members help us understand the needs of our associates, customers and communities and turn empathy into action. In 2025, 28% of new hires were people of color, 59% were women and 2% were veterans. 43% of our executive leadership team are women and/or people of color. Fostering an inclusive environment among a diverse group of associates. Employing strong, consistent and transparent governance practices. Efficient & Sensible Resource Use Strong Corporate Governance Inclusion & Diversity 14-person board of directors, with 13 independent members, a lead independent director, and 100% independence on board committees. 50% board diversity, including 6 female directors. Robust risk oversight with distinct risk management committees: enterprise risk, asset and liability, and credit. Board oversight of the executive ESG Committee. Community Impact $8.4mm in community support in 2025, which included housing needs, the arts, agriculture, small business, and education. $2.3mm went to organizations within our new markets. In 2025 >1,000 associates participated in our matching gift program; combined with workplace giving, associate giving totaled nearly $650k. Associates receive 16 hours of paid Volunteer Time Off annually. 1,012 participants logged more than 17,600 hours of volunteer time in 2025, supporting 572 unique charities. Our School of Economics held 140 sessions, reaching more than 8,200 students. Interactive experiences help build financial skills and literacy. 88 UMB locations use automated systems to conserve energy. More than 472,000 Kilowatt hours generated from solar panels across our properties and we invested $2.9mm in more efficient HVAC equipment. 2025 recycling efforts produced > 6 tons of commingled recycling, nearly 5 tons of cardboard and 540 pounds of recycled batteries. Beehives housed at a Denver branch support the local honeybee population. UMB-hosted bees visited an estimated 98mm flowers over 8,000+ acres in 2025. Since installation, we’ve harvested nearly 450 pounds of edible honey.
Purchase Accounting Update
HTLF Acquisition Accounting Impacts (1) Loan amounts recognized for 3Q’26 include $9.0mm in accelerated accretion from early payoffs of acquired loans and $19.3mm in contractual mark accretion on loans; Total life-to-date = $69.0mm from accelerations and $185.2mm in contractual loan accretion; (2) 10-year sum-of-years digits amortization; (3) Includes $20.4mm related to wealth management, straight-line amortization over 7 years, and $4.9mm related to purchased credit card relationships, straight-line amortization over 3 years. Net Interest Margin Impact Net Interest Income Accretion Non-interest Expense Amortization $ in millions $ in millions
Projected Contractual Accretion $164.2 million recognized in 2025; $120.0 million recognized YTD 2026 Includes accretion on acquired loans, securities, time deposits and borrowings Projections are updated quarterly, assume no prepayments and are subject to change $ in millions
3rd Quarter 2026 Financial Review
3Q 2026 Highlights – Income Statement (1) Net interest income-FTE, operating noninterest expense and net operating income and EPS available to common shareholders are non-GAAP measures, reconciled on slides 49 and 50. $ in millions, except per share amounts 2Q ’26 3Q ’26 3Q ’25 Linked-Quarter Variance & Commentary
3Q 2026 Highlights – Balance Sheet & Credit $ in millions 2Q ’26 3Q ’26 3Q ’25 Linked-Quarter Variance & Commentary
3Q 2026 Net Income $363.7 $380.1 $373.0 $293.4 $329.1 Dollars in millions, except per share amounts. (1) Net operating income available to common shareholders is a non-GAAP measure, reconciled on slide 49; (2) Operating PTPP income and EPS is a non-GAAP measure, reconciled on slide 50; (3) Net gains/losses on any disposition or impairment of debt securities plus mark-to-market valuations of equity investments. EPS / common share (GAAP) Net Inc. Avail. to Common Shareholders Op. EPS / common share (1) Adjustments to Net Income $235.2 $259.8 $273.0 $272.4 $206.5 Net Income & Net Operating Income (1) Operating PTPP Income (2) Operating PTPP Income – gains/losses on inv. securities (3) Operating PTPP Income, ex. gains/losses on inv. securities Operating PTPP EPS (2) Available to Common Shareholders
Revenue Trends $ in millions Linked-Quarter $ ∆ % ∆ 3Q ’26 2Q ’26 3Q ’25 4Q ’25 1Q ’26 Note: Columns may not sum due to rounding differences.
Net Interest Income & Margin NII, ex. PAA NII from PAA Reported NIM NIM ex. PAA $532.5 $540.0 $475.0 $522.5 $534.4 $ in millions 3.10% 2.78% 2.96% 3.05% 3.09% 3Q ’25 4Q ’25 1Q ’26 2Q ’26 3Q ’26 $ in millions
Noninterest Income Fee Income / Revenue Peer Median Fee Income / Revenue (1) (1) UMB peers (14 banks), data as of latest available quarter; Source: S&P Capital IQ. Peer group defined on slide 53. Investment Securities Gains (Losses) Brokerage Fees Trust / Securities Processing Bankcard Fees Trading / Invest. Banking Other Income Deposit Svc. Charges. $204.8 $245.5 $232.4 $203.3 $198.4 Composition / Changes in Inv. Securities Gains (Losses) and Trust & Securities Processing Linked-Quarter Commentary $ in millions $ in millions Linked-Quarter Noninterest income decreased $13.1mm, or 5.3%, to $232.4mm from 2Q’26. LQ variances include: - $16.1mm in investment securities gains, following strong results in 2Q’26 - $7.0mm in COLI income, included in other income, partially offset by: + $1.8mm from the gain on the sale of a building in 3Q’26; + $0.8mm in derivative income related to customer swaps; + $0.5mm in BOLI income + $0.4mm for recoveries of loans previously charged off by HTLF; and + $5.7mm in trust and securities processing income led by strong performance in Fund Services
Noninterest Expense Note: Columns may not sum due to rounding differences. (1) Operating noninterest expense is a non-GAAP metric, reconciled on slide 50. Linked-Quarter Commentary 3Q ’25 4Q ’25 1Q ’26 2Q ’26 3Q ’26 GAAP expense; $ in millions Linked-Quarter $ ∆ % ∆ Noninterest expense decreased $0.2mm from 2Q’26 to $399.5mm. Notable 3Q’26 variances impacting noninterest expense: - $5.9mm in total salary and benefit expense driven by a reduction of $10.1mm in deferred compensation expense, offset by a $4.7mm increase in salary & bonus expense related to the timing of annual merit increases and higher bonus expense related to strong performance; + $2.2mm in supplies and services expense related to computer hardware costs; + $1.9mm in occupancy expense; + $1.5mm in OREO losses; and + $1.4mm in marketing and business development expense, driven by timing of multiple advertising campaigns
$ 37,139 $ 38,344 $ 39,383 $ 40,624 Diversified Loan Portfolio $ 41,750 3Q ’25 2Q ’26 3Q ’26 Linked-Quarter $ ∆ California: 3% Greater MO: 3% Wisconsin: 2% Illinois: 2% Kansas: 1% New Mexico: 1% Iowa: 1% Minnesota: 1% Oklahoma: 1% Nebraska: 1% Smaller Regions: Loans Across Our Footprint Avg. balances; $ in millions Avg. balances; $ in millions Inv. CRE Asset-Based C&I Resi. R/E Consumer Construction Credit Card Avg. Loan Yield Loan Yield ex. PAA OO CRE % ∆ * Includes NDFI loans and leases/other Kansas City 22% Colorado 19% Arizona 11% St. Louis 16% Texas 11% Utah 5% 6.06% 6.27% 6.14% 5.99% 6.01% * Note: Columns may not sum due to rounding differences.
Quarterly Loan Activity 3Q ’26 2Q ’26 3Q ’25 4Q ’25 1Q ’26 $ in millions
Strong Asset Quality Dollars in millions. (1) Delinquencies represent accruing loans > 30 days past due. Net Loan Charge-Offs (Recoveries) Delinquencies (1) Nonperforming Loans Allowance for Credit Losses on Loans Allowance for Credit Losses on Loans ACL / Total Loans Net Charge-offs NCOs / Average Loans Delinquencies Delinquencies / Loans Nonperforming Loans NPLs / Total Loans
Detailed Net Charge-Off History Recent Quarterly Trends Annual 2009 2010 2008 2004 2005 2006 2007 2011 2012 2013 2014 2019 2020 2018 2015 2016 2017 2021 2022 2023 2024 3Q ’26 2Q ’26 3Q ’25 4Q ’25 1Q ’26 2025
Available-for-Sale (1) High-Quality Investment Portfolio $13,613 $13,541 $13,305 $12,815 $5,697 $5,697 $5,691 $5,712 Average balances - $ in millions Average Blended Yield Treasuries Corp. & Commercial Paper GNMA/GSE Mortgage-Backed GSE Agencies General Obligation Municipals Collateralized Loan Obligations Revenue Bonds $13,529 (1) Balances are presented at carrying value, which is fair value for the available-for-sale portfolio and amortized cost for the held-to-maturity portfolio. Average balances - $ in millions Held-to-Maturity (1) $5,455
Securities Portfolio Statistics Amortized Cost Fair Value Net Unrealized Loss $ in millions; as of 09/30/26 Note: Columns may not sum due to rounding differences. (1) Purchase activity, cash flow and duration excludes HTM industrial revenue bonds; (2) Total portfolio yield is influenced by roll-off and reinvestment activity as well as changes in premium amortization and discount accretion; (3) Purchases for roll-off and overbuy, net of purchases related to sales/trades or short-term collateral needs. Securities Portfolio Activity (1) (2) $ in millions
Diversified Deposit Mix $57,574 $58,221 $56,764 $57,554 Commercial Personal Institutional Commercial Banking 46% Consumer & Private Wealth 23% Capital Mkts & Corp. Trust 10% Healthcare Services 5% Asset Servicing 10% Investor Solutions 6% 26% 24% 24% 26% $57,585 Deposits by Line of Business Interest-Bearing Demand & Savings Demand Deposits Time Deposits DDA / total deposits Average Total Deposit Cost Avg. balances; $ in millions 26% 3Q ’25 2Q ’26 3Q ’26 Linked-Quarter $ ∆ Avg. balances; $ in millions % ∆
Interest Rate Sensitivity Increase / decrease based on hypothetical rate changes and stable balance sheet Projected rates for new loans and deposits based on historical analysis, management outlook and repricing strategies Asset prepayments and other market risks developed from industry estimates of prepayment speeds and other changes Ramp Scenario 73% of total end-of-period loans, or ~ $31.0B, are variable 77% of total loans reprice within 12 months Of variable loans - % tied to indices for next 12 months: Year 2 Year 1 - 200 - 100 + 100 + 200 Shock Scenario Year 2 Year 1 77% - 1-Month SOFR 81% adjust monthly 12% adjust daily 19% - Prime 23% adjust monthly 65% adjust daily Floor Contracts – indexed to 1 Month SOFR; 4–6-year terms Interest Rate Floor Spreads Impact to Net Interest Income Loan Maturities & Repricing Cash Flow Hedges of Interest Rate Risk 4% - Treasury & other 4.05% contract; notional value of $125mm, effective 10/24 4.80% contract; notional value of $250mm, effective 12/24 5.05% contract; notional value of $250mm, effective 03/25 Ten floor spreads; aggregate notional value of $2.375B Weighted average rate: 4.84% / 2.37% Deposit Mix by Rate Sensitivity Fixed Rate Loans Variable Rate Loans Hard Indexed – immediate adjustment Soft Indexed – negotiated / bid accounts Non-Indexed Interest-Bearing DDA $3.2 billion of fixed rate loans reprice within 12 months; average rate 5.23% Average for 3Q’26
Capital & Liquidity Position As of September 30, 2026 $ in billions CET 1 Total Capital Tier 1 Leverage Tangible Common Equity Ratio (1) 7.55% Total Common Equity / Total Assets 10.42% 6.50% 10.00% 5.00% (1) Tangible common equity and tangible common equity ratio are non-GAAP measures, reconciled on slide 51. 13.52% 11.50% 9.41% Regulatory Capital Ratios Ample Liquidity Available Liquidity Sources $4.7B $4.2B $7.0B $5.8B $5.7B 7.3% 6.3% 11.0% 9.1% 8.8% Fed funds & resell agreements Int-bearing due from banks % of average earning assets $ billions UMBF ratio “Well Capitalized” 12.04% 8.00% Tier 1 Note: Redeemed $150 million of 2.75% fixed-to-floating subordinated notes on September 15, 2026
Line of Business Updates
Commercial Banking Commercial Capabilities Investment Real Estate Industrial Multi-family Office Retail Hotel Student Housing Agribusiness Asset-based Lending Energy Lending Lending Verticals C&I Lending Owner-Occupied CRE Middle Market Working capital lines Equipment loans Business Banking Practice Finance Small Business Banking Small / Medium Business Middle Market 52% Investment Real Estate 27% Sm./Med Biz 7% Specialized Verticals 14% $36.2B (1) Average loan balances for 3Q’26 , excluding credit card; (2) 2025 Rank among U.S. Visa and Mastercard Commercial Card Issuers, Source: Nilson Report, May ‘26; (3) “Production ag lending” per ABA 1Q ‘26, FDIC data. #12 of 100 Largest Farm Lenders in the U.S. (3) Commercial Credit Card Purchase Volume (2) TOP 15 Prepaid & Purchasing Card Volume (2) TOP 5 Commercial Lending Portfolio Average Loan Balance & Composition (1) Franchise Lending Healthcare Lending
Commercial Banking C&I Lending C&I loans of $19.7B as of 09/30/26 = 46.4% of UMB loans Includes Middle Market, Specialized Verticals and Small / Medium Business NDFI = $3.2B; 8% of total loans Comprised of clients with diversified holdings & strong credit structures Low leverage at the fund level & conservative UMB loan-to-value metrics 33% of total loans in NDFI categories are subscription lines > 99% of NDFI balances are pass-rated Food & Beverage 2% Tech & Media 2% Finance & Insure 2% Materials & Commodities 2% Manu-facturing 3% Retail 4% Diversified 2% Commercial Services 4% Other (2) 6% Agri-business 3% Energy-Related 3% Average Line Utilization Trends Construction & Real Estate Industry 5% (1) End-of-period balances as of 09/30/26. C&I Industries as % of Total UMB Loans (1) Commercial & Industrial Statistics (2) Other - 6% of total UMB loans Health Care & Pharma Auto-related Transportation Entertainment / Rec. Consumer Services Govt. / Education Apparel / Textiles Utilities Non-Depository Financial Institutions 8% C&I Balance Trends +29% YoY
Commercial Banking Commercial Real Estate Mixed Use 1-4 Unit Rentals Vacant Land Other (3) Investment CRE & Construction Portfolio $10.6B = 25.0% of total UMB loans Average Loan-to-Value: 57% Loans with Recourse: 84% Investment Real Estate Rate Type: Fixed – 25% Variable – 75% End-of-period balances as of 09/30/26. (1) Excludes owner-occupied commercial real estate; (2) Defined as Tier 1 capital plus an adjusted allowance for credit losses, per regulatory guidelines. Investment CRE Geographic Diversity Owner-Occupied CRE & Farmland $6.0B = 14.1% of total UMB loans New purchase or refinance Rate Type: Fixed – 52% Variable – 48% Owner - Occ 12% Farmland 2% $6.0 B $10.6 B By property location (3) Other - 2% of total UMB loans Senior Housing Self-storage Special Purpose Homebuilder Student Housing Healthcare Manufactured Housing (No state > 2.6%) CRE Statistics Investment CRE as % of Total UMB Loans (1) Const. / Land Dev. 7% Investment CRE 18% Industrial 7% Multifamily 7% Office 3% Retail 2% Hotel 2% 2% 1% <1% <1% Regulatory Concentrations (2)
Personal Banking Consumer Growth engine for new customers; deepening existing relationships Private Banking Strategically positioned for sales growth Retail Banking Hybrid Service & Sales Model – Provides broad products and services to meet diverse client needs 192 Banking Centers (3) 360 ATMs $4.0B 44 Average Private Banking Deposits Private Bankers Across 13 regions Mortgage 20 MLOs across UMB Footprint Community Development Competitive mortgage solutions for all client types Average Mortgage Balances Diverse client engagement in our communities 82 Financial Education Classes 15 Community Partners Served 1,650 Community Participants Key Products Offered Fannie Mae / Freddie Mac Portfolio on balance sheet mortgages Secondary market mortgages 1st-Time Homebuyer Assistance $3.7B Digital Capabilities across Consumer Digital loan and deposit applications and originations Mobile Banking: Deposits, transfers, bill pay, account review and more Metrics at, or for the quarter ended, 09/30/26, unless otherwise stated. (1) Average quarterly balances; (2) Net Promoter Score is the national average for all banks – 107,059 samples, source J.D. Power; (3) As of 09/30/26, we had 192 physical locations licensed with the OCC, including 189 retail branches plus 3 commercial or private banking centers. Consumer Lending (1) 70.8 Industry Average (2) 38.0 NPS Score High Customer Satisfaction Consumer serves personal banking needs of clients across all divisions of the bank Deposits (1) Expanding Consumer Presence $13.2B $4.5B $4.8B +2% $13.4B $13.4B $4.8B +5% 23% of deposits +4% YoY +59% YoY
Personal Banking Private Wealth Management & Private Investments Composition as of 09/30/26. (1) Includes Assets Under Management and Under Administration; (2) Data is in arrears; as of 06/30/26. Private Wealth Customer Assets Wealth Management Financial planning Discretionary investment management Strategic solutions for ultra-high net worth families Business succession & exit planning Brokerage & retirement plan services Asset Management Private equity investment access $18.4B Managed Assets (AUM) $5.2B Non-Managed Assets (AUA) Personal Trust & Custody Trust admin & personal custody Charitable foundation planning & administration Unique asset administration, including fine art Insurance settlements Trust tax preparation Private Investments Tailored capital solutions to finance lower-middle market private businesses for long-term growth Minority equity Subordinated debt Combines the strength of a seasoned, dedicated investment team with the deep resources of UMB Financial Corporation. Serves existing and prospective UMB Bank clients, cross-selling products and services. Active portfolio: 54 investments totaling ~$171mm of invested capital (2) $267mm+ of capital deployed to date (2) Non-Managed 22% Managed 78% New Assets / Sales (1) $ in millions
Institutional Banking Asset Servicing & Custody $622B $553B $545B $565B $619B Assets Under Administration / Custody (1) (1) Asset categories sum > total AUA due to shared client assets; (2) Represents growth in trust & securities processing income; (3) With Intelligence ’19, ’20, ’22, ‘23 and ’25; (4) Hedgeweek US Awards ’25; (5) Hedgeweek US Emerging Managers ’24 and Private Equity Wire ’25; (6) Global Custodian Industry Leaders Awards ’25; (7) Hedgeweek US Awards ‘23; (8) Private Credit US Awards ‘24. Transfer Agency Private Funds Fund Acct/Admin. Custody Provides services for more than 2,500 funds, including registered and alternative investment funds, PE funds, real estate and venture capital funds, ETFs and more. One of the nation's leading providers of domestic and global custody, serving insurance companies, public and private corporations, nonprofits, municipalities, fund companies and endowments. Established in 1948. Net New Accounts September YTD Custody AUA +19.0% YoY +130 Registered Funds & Alternative Investments Institutional Custody Best Interval Fund Administrator (3) Best Fund Accounting and Reporting Software (4) Administrator of the Year – Technology (5) Custodian Service of the Year (8) Best Custodian (7) Innovation in Investor and Investment Data (6) +12.1% YoY Fund Services Private Credit AUA = ~$35B, or 6.0% of total 3Q’26 AUA YTD Growth (2) +22.1% +8.8% linked-quarter 5-year CAGR = 13.2% Revenue Growth Trends
Institutional Banking Corporate Trust & Capital Markets Corporate Trust Provides trustee, paying agent and escrow services to municipal and corporate issuers nationwide. Specialty Trust & Agency Solutions Services for asset-backed securitizations, aviation and other transportation and real estate projects. Workout and successor trustee services on behalf of bondholders of defaulted transactions. Collateral administration for CLOs, credit funds, separate accounts and other portfolios of loans. Examples of recent deals: Products and services offered through UMB Bank Capital Markets Division NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED. Capital Markets Division Capital solutions including fixed income sales, trading and underwriting for institutional, municipal and not-for-profit organizations. Public Finance September YTD Closed Deals Trust & Escrow Services Paying Agent in the U.S. #2 Municipal Trustee in the U.S. #2 (1) Represents growth in trust & securities processing income; (2) Source: Thomson Reuters, 2Q’26, ranked by number of issues. U.S. Municipal Rankings (1) Revenue Growth Trends YTD Growth (1) +18.5% +2.2% linked-quarter 5-year CAGR = 16.1%
FDIC Sweep Assets Under Administration $43B Institutional Banking Investor Solutions & Healthcare Services Investor Solutions Annual ACH Transactions Healthcare Services Provides a suite of tax-advantaged benefit accounts including Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Commuter Benefit Accounts. HSA Account Holders 2.0mm In HSA Deposits (3) $3.1B Top 10 HSA Custodians in the U.S. (1) TOP 10 Benefit Cards 5.3mm ~125mm ~ 5.3 mm accounts for September 2026 Recognized for Investment Quality (1) Sample BaaS Partnerships Named a Top HSA for Features & Investment Options (2) (1) #6 in total number of accounts and #8 in total assets as of June 30, 2026 - Devenir Research Mid-Year ’26; (2) Investor’s Business Daily ’23; (3) End-of-period balances as of 09/30/26. Our banking as a service (BaaS) solution offers deposit services to financial institutions and fintechs, including checking, savings, and investment accounts, along with expanded FDIC insurance through our proprietary Sweep Program. In HSA Invested Assets (3) $2.1B
Payments Credit & Debit Card Products Purchase volume in billions; interchange in millions. (1) Rank in commercial, consumer & small business cards among top 50 Visa & Mastercard issuers in 2025. Source: Nilson Report, confirmed May 2026. Card Purchase Volume & Interchange Trends 23rd in U.S. Credit Card Purchase Volume (1) #23 $5.6 $5.5 $5.4 $5.4 $5.6 Interchange Income Consumer Credit Healthcare Debit Commercial Credit Inst. Cash Mgmt. Consumer Debit $5.5B 3Q ’26 Card Spend 13th in Number of Total U.S. Accounts (1) #13 +8.5% 10-year CAGR
Long-Term Annual Performance Trends
Differentiated Revenue Profile Multiple Sources of Growth Net Interest Income Fee Income Provides Diversity 33% 57% 30% $ 1,283 $1,291 $1,468 $613 $1,462 $731 $588 $778 $671 $825 $879 $983 $849 $1,012 $971 $1,098 Total Revenue 20 Year CAGR 9.4% Revenue Growth Annual NII Growth Annual Revenue Growth 12% 12% 18% 10% 3% 2% 1% 9% 4% 5% 18% 20% 13% 9% 10% -1% 14% -0.4% 13% 4% 9% 9% 6% 18% 6% 3% 4% 11% 1% 3% 8% 20 Year CAGR 5.9% Fee Income Growth $816 $731 $914 $303 $920 $317 $275 $320 $311 $333 $412 $559 $350 $610 $495 $671 1% 22% Net Interest Income (before provision) Noninterest Income (1) (2) % fee income Peer Median % Fee Income (4) Dollars in millions. (1) Noninterest income prior to ‘17 contains income from discontinued operations; (2) Noninterest income included a $108.8mm pre-tax gain on TTCF shares in ‘20 and a $66.2mm pre-tax gain on the sale of Visa Class B shares in ‘22; (3) ‘25 reflects acquisition of Heartland Financial; (4) UMB peers (14 banks) as of latest available annual period. Source: S&P Capital IQ. $188 $233 $1,862 $217 $1,001 $1,629 $440 $522 $2,652 $472 63% 8% 7% 10% 11% 86% 5% 15% 7% 9% 20 Year CAGR 12.1% (3) (3)
7% Balance Sheet Growth Across All Business Cycles Average Loans (1) Average annual balance in billions. (1) Loan balances exclude PPP loans for ’20 – ’22. (2) ‘25 reflects acquisition of Heartland Financial; (3) UMB peers (14 banks), as of latest available annual period. Source: S&P Capital IQ. Average Deposits Annual Loan Growth 12% 19% 19% 5% 2% 6% 10% 10% 18% 12% 21% 19% 9% 7% 10% 20 Year CAGR 13.0% 8% 49% 13% 14% 9% 8% 19% 37% 26% 25% 1% 14% 16% 11% 14% 10% 20% 13% 6% 11% 9% 4% 7% 14% 24% 20 Year CAGR 12.6% 11% 56% 3% 7% 4% Conservative Loans / Deposits (%) 20-year Avg: 61% Annual Deposit Growth Average IB Deposits % DDA / Deposits Peer Median % DDA / Deposits (3) Average DDA $28.9 $23.2 $31.3 $7.6 $31.8 $9.6 $6.5 $10.5 $8.5 $11.9 $14.1 $15.9 $12.7 $17.0 $15.3 $19.3 $5.1 $5.7 $55.1 $5.5 $35.3 $15.8 $14.1 $18.8 $4.4 $22.3 $4.8 $4.2 $5.3 $4.5 $6.2 $8.4 $10.8 $7.0 $11.6 $10.0 $12.8 $3.1 $3.9 $36.1 $3.6 $24.2 (2) (2)
Resilient Credit Metrics Through All Economic Environments Net Charge-Offs / Average Loans Nonperforming Loans / Loans Industry (2) UMBF Peer Median (1) Industry (2) UMBF Peer Median (1) (1) UMB peers (14 banks), as of latest available annual period. Source: S&P Capital IQ; (2) All FDIC-insured banks, as of last available annual period. Source: FDIC. 0.23% ‘05 – ‘25 Average 0.27% ‘05 – ‘25 Average 0.38% 0.06% 0.62% 0.37% 0.53% 0.96%
Capital & Liquidity Supports Growth Outlook UMBF Peer Median (1) UMBF Peer Median (1) UMBF Peer Median (1) (1) UMB peers (14 banks), as of latest available annual period. Source: S&P Capital IQ; (2) Tangible equity and tangible assets are non-GAAP measures, reconciled on slide 51; (3) As defined by S&P Capital IQ: “Cash, cash equivalents, and investment securities/assets.” Tangible Equity / Tangible Assets (2) Peer Median TCE / Tang. Assets (1) UMBF Equity / Assets UMBF TCE / Tang. Assets (2) Common Equity Tier 1 Capital Ratio Equity / Assets Cash & Securities / Assets (3) Average Loans / Average Deposits 20% 15% 10% 5% 0% 100% 75% 50% 25% 0%
Risk-Adjusted Returns Rowing Close to Shore UMBF Peer Median (1) (1) UMB peers (14 banks), data as of latest available annual period. Source: S&P Capital IQ; (2) The numerator for the calculation of Return on Risk-Weighted Assets is GAAP net income, which included expenses related to the FDIC special assessment, recognized in 2023, 2024 and 2025. UMBF Peer Median (1) Risk-Weighted Assets / Assets Return on Risk-Weighted Assets (2)
4Q ’26 = $0.50 Dividend Trends Sustained Growth (1) Based on declaration date; dividends adjusted for a 2-for-1 stock split in May 2006. There have been no additional stock dividends or stock splits. Common Dividends Declared (1) FY ’26 = $1.86 +14.1% vs. 2025 +304.3% annually 2006 – 2026
Outperformance Building Long-Term Value 20-Year Compounded Annual Growth Rates 2005 – 2025 UMBF KRX (2) Industry (4) Peer Median (3) Diluted Earnings Per Share Tangible Book Value Per Share (1) (1) Tangible book value per common share is a non-GAAP measure, reconciled on slide 52; (2) KBW Nasdaq Regional Bank Index (median of 46 banks with data reported for both 2005 and 2025); (3) UMB’s traditional peers (median of 14 banks); (4) Median of all publicly-traded banks with data reported for both 2005 and 2025. Peer, KRX & Industry source: S&P Capital IQ.
Appendix
Governance Our Board of Directors AC = Audit Committee; CC = Compensation Committee; GC = Governance Committee; RC = Risk Committee Advisory Directors Mariner Kemper Chairman of the Board Margaret Lazo CC, RC Susan Murphy AC, RC Tammy Peterman GC, RC Gordon Lansford AC (Chair), CC Robin Beery CC (Chair), RC K.C. Gallagher AC, RC Greg Graves Lead Independent Director, GC (Chair) Jenny Hopkins AC, RC Janine Davidson CC, GC Brad Henderson AC, RC Kris Robbins AC, RC (Chair) Josh Sosland GC, RC Leroy Williams CC, RC Tom Wood Jim Rine Vice Chairman
Forward-Looking Statements This presentation and our other communications may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties. Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, results, or aspirations. All forward-looking statements are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Our actual future objectives, strategies, plans, prospects, performance, condition, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events, circumstances, or aspirations to differ from those in forward-looking statements are described in annual, quarterly and other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (“SEC”). In addition to such factors that have been disclosed previously: risks related to current or future tariffs or trade restrictions, sanctions and other trade policies and the impact to UMB or its customers; macroeconomic and adverse developments and uncertainties related to the collateral effects of the collapse of, and challenges for, domestic and international banks, including the impacts to the U.S. and global economies; sustained levels of high inflation and the potential for an economic recession; and impacts related to or resulting from instability with respect to geopolitical developments, including in Venezuela, the Middle East and Russia’s military action in Ukraine, such as the broader impacts to financial markets and the global macroeconomic and geopolitical environments, may also cause actual results or other future events, circumstances, or aspirations to differ from our forward-looking statements. Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except to the extent required by applicable securities laws. You, however, should consult disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent documents that are filed or furnished with the SEC. Any statements about UMB Financial Corporation’s (“UMB”) plans, objectives, expectations, strategies, beliefs, or future performance or events constitute forward-looking statements. Such statements are generally identified as those that include words or phrases such as “believes,” “expects,” “anticipates,” “plans,” “objective,” or similar expressions or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “may,” or similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, assumptions, estimates, and other important factors that change over time and could cause actual results to differ materially from any results, performance, or events expressed or implied by such forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Further information regarding UMB and factors which could affect the forward-looking statements contained herein can be found in UMB’s Form 10-K for the year ended December 31, 2025 (and which is available on the SEC’s archive site, here) and its other filings with the SEC.
Unaudited, dollars in thousands except per share data. (1) Calculated using marginal tax rate of 24.0%. Certain merger-related expenses are non-deductible. Non-GAAP Reconciliations The following are non-GAAP measures used from time to time. To the extent a non-GAAP measure is used in this presentation, a reconciliation to such measure’s closest GAAP equivalent is provided below. This information supplements the results that are reported according to GAAP and should not be viewed in isolation from, or as a substitute for, GAAP results. UMB believes that these measures may be useful to investors because they adjust for items that management does not believe reflect the Company’s fundamental operating performance. Definition and calculation for each metric shown below tables. Net Operating Income Available to Common Shareholders Net operating income available to common shareholders is defined as GAAP net income available to common shareholders, adjusted to exclude acquisitions and severance expenses, Day 1 acquisition provision expense, if any, the FDIC special assessment, and the cumulative tax impact of these adjustments.
Non-GAAP Reconciliations Operating Pre-Tax, Pre-Provision Income Unaudited, dollars in thousands except per share data. Operating PTPP income for the relevant period is defined as GAAP net interest income plus GAAP noninterest income, less noninterest expense, adjusted to reflect the impact of excluding expenses related to acquisitions, severance expense, and the FDIC special assessment. Net interest income – FTE is defined as GAAP net interest income plus tax-equivalent interest. Net Interest Income - FTE
Tangible common equity ratio is common shareholders’ equity, net of intangible assets, divided by total assets, net of intangible assets. Non-GAAP Reconciliations Unaudited, dollars in thousands. Tangible Common Equity Ratio Operating efficiency ratio is calculated as the company’s operating noninterest expense, net of amortization of other intangibles, divided by the company’s total non-GAAP revenue (calculated as net interest income plus noninterest income, less gains on sales of securities available for sale, net). Operating Efficiency Ratio
Non-GAAP Reconciliations Unaudited, dollars in thousands, except per share data. (1) Share count for December 31, 2005, adjusted for Company’s 2-for-1 stock split on May 31, 2006. Return on tangible common equity is calculated as net income available to common shareholders divided by the company's average tangible common shareholders' equity for the relevant period. Operating return on tangible common equity is calculated as net operating income available to common shareholders, divided by the company’s average tangible common shareholders’ equity. Return on Tangible Common Equity & Operating Return on Tangible Common Equity Tangible Book Value (“TBV”) Per Common Share Tangible book value per common share is defined as total common shareholders’ equity, net of intangible assets, divided by total common shares outstanding. (1)
Our Peer Group ASB Associated Banc-Corp BOKF BOK Financial Corp. KEY KeyCorp COLB Columbia Banking System, Inc. HBAN Huntington Bancshares Inc. CFR Cullen/Frost Bankers, Inc. FHN First Horizon Corp. ONB Old National Bancorp PNFP Pinnacle Financial Partners SSB SouthState Corp. RF Regions Financial Corp. WAL Western Alliance Bancorporation WTFC Wintrust Financial Corp. ZION Zions Bancorporation
Exhibit 99.3
UMB Financial Corporation News Release
1010 Grand Boulevard
Kansas City, MO 64106
816.860.7000
umb.com
//FOR IMMEDIATE RELEASE//
Media Contact: Stephanie Hollander: 816.729.1027
Investor Relations Contact: Kay Gregory: 816.860.7106
UMB Financial Corporation Declares Common and Preferred Dividends
KANSAS CITY, Mo. (October 27, 2026) – UMB Financial Corporation (Nasdaq: UMBF) announced today that the board of directors has declared the following dividends:
About UMB:
UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Mo. UMB offers commercial banking, which includes comprehensive deposit, lending, investment and retirement plan services; personal banking, which includes comprehensive deposit, lending, wealth management and financial planning services; and institutional banking, which includes asset servicing, corporate trust solutions, investment banking and healthcare services. UMB operates branches throughout Missouri, Arizona, California, Colorado, Iowa, Kansas, Illinois, Minnesota, Nebraska, New Mexico, Oklahoma, Texas, Utah, and Wisconsin. As the company’s reach continues to grow, it also serves business clients nationwide and institutional clients in several countries. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn.