This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

UMB Financial Corporation Reports Third Quarter 2012 Earnings; Posts Tenth Consecutive Quarter Of Loan Growth; Announces 4.9 Percent Dividend Increase

UMB Financial Corporation (NASDAQ: UMBF), a diversified financial holding company, announced earnings for the three months ended September 30, 2012 of $26.1 million or $0.65 per share ($0.64 diluted). This is an increase of $0.1 million, or 0.4 percent, compared to third quarter 2011 earnings of $26.0 million or $0.65 per share ($0.64 diluted). Earnings for the nine months ended September 30, 2012 were $101.7 million or $2.54 per share ($2.51 diluted). This is an increase of $18.5 million, or 22.2 percent, compared to the prior year-to-date earnings of $83.2 million or $2.08 per share ($2.06 diluted).

“UMB’s unique position as a diversified financial services company allowed us to post solid results for the quarter,” said Mariner Kemper, Chairman and Chief Executive Officer. “Investments in our fee businesses continue to pay off, demonstrated by the 5.3 percent increase in noninterest income compared to the third quarter of 2011. We are pleased to report yet another quarter of double-digit loan growth, with average balances increasing 10.5 percent over the third quarter of 2011. This marks our tenth consecutive quarter growing loans. Compared to the industry, the more than 1,400 regulated depositories that had announced third quarter results as of October 22 reported a median increase in loan balances of just 0.65 percent. In addition, UMB is an industry leader in credit quality, with net charge-offs of just 0.44 percent in the third quarter.”

Net Interest Income and Margin

Net interest income for the third quarter of 2012 increased $1.3 million, or 1.6 percent, compared to the same period in 2011. Average earning assets increased by $987.9 million, or 8.9 percent, compared to the third quarter of 2011. This increase was due to an $831.4 million, or 14.5 percent, increase in average total securities, including trading securities and a $502.9 million, or 10.5 percent, increase in average loans offset by a $335.8 million decrease in average interest bearing due from banks. Net interest margin decreased 18 basis points to 2.80 percent for the three months ended September 30, 2012 compared to the same quarter in 2011.

1 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs