Umb Financial Corp. ( (UMBF) ) has released its Q4 earnings. Here is a breakdown of the information Umb Financial Corp. presented to its investors.
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UMB Financial Corporation is a diversified financial services company based in Kansas City, Missouri, offering commercial, personal, and institutional banking services across multiple states in the U.S. In its latest earnings report, UMB Financial Corporation reported a net income of $120.0 million for the fourth quarter of 2024, marking a significant increase from the previous year. For the entire year, the company achieved a record net income of $441.2 million, reflecting strong balance sheet growth and effective expense management. Key financial highlights include a 14.8% increase in average loans from the previous quarter, a 30.9% increase in average deposits, and strong credit quality with net charge-offs at 0.10% of average loans. The company’s net interest income rose by 8.7% from the third quarter, and noninterest income grew by 4.1%, driven by gains from the sale of UMB Distribution Services and brokerage income. Looking ahead, UMB Financial Corporation is poised for further growth with the imminent merger with Heartland Financial, which is expected to close soon, potentially enhancing their market presence and service offerings.
