Umb Financial Stock Price, News & Analysis

UMB obtained regulatory approval to offer Delaware Statutory Trust services via its subsidiary, UMB Delaware Inc., from a new office in Wilmington, Delaware. The office, led by industry expert Kristin Moore, will enhance UMB's corporate trust offerings, particularly in asset-backed securitizations and renewable energy finance. Executives highlighted the commitment of UMB to the corporate trust business amidst competition. This development signifies a strategic expansion for UMB, enhancing its ability to provide comprehensive solutions to clients.

UMB Financial Corporation reported third quarter 2022 net income of $88.0 million ($1.81 per diluted share), down from $137.6 million in Q2 2022 and $94.5 million in Q3 2021. Average loans increased by 15.1% year-over-year, while deposits grew 1.3%. Noninterest income rose 19.3%, contributing 35.5% of total revenue. The net interest margin expanded to 2.76%. The Board approved a 2.7% increase in the quarterly cash dividend to $0.38, payable on January 3, 2023. Credit quality remained strong with low charge-offs of 0.02%.

UMB Financial Corporation (Nasdaq: UMBF) is set to announce its third quarter 2022 earnings results after market hours on October 25, 2022. An investor conference call will follow on October 26, 2022, at 8:30 a.m. CT. Investors can join the call by dialing 844-200-6205 (toll-free) or 646-904-5544 (international). The company offers a wide range of financial services, including commercial, personal, and institutional banking, with operations across several states. A replay of the call will be available until November 9, 2022.

UMB Financial Corporation (Nasdaq: UMBF) has priced a $110 million offering of 6.250% subordinated notes due in 2032, set at 100% of face value. Interest will be paid semi-annually, starting March 28, 2023. The offering aims to enhance Tier 2 capital with net proceeds estimated at approximately $107.9 million after expenses. Proceeds may be used for general corporate purposes, including supporting UMB Bank’s Tier 1 capital. The notes will close on September 28, 2022, pending customary conditions.

UMB Financial Corporation (Nasdaq: UMBF) reported strong second-quarter 2022 results with a net income of $137.6 million, or $2.83 per diluted share, up from $106.0 million in Q1 2022. Operating pre-tax, pre-provision income rose 56.7% to $187.1 million. Average loans increased 8.9% year-over-year, while average deposits grew 13.7%. The net interest margin expanded to 2.60%. A pre-tax gain of $66.2 million from selling Visa shares bolstered results, though net charge-offs rose due to a significant write-down on a commercial relationship. The company declared a $0.37 dividend payable on October 3, 2022.

UMB Financial Corporation (Nasdaq: UMBF) will release its second quarter 2022 earnings results on July 26, 2022. An investor conference call is scheduled for July 27, 2022 at 9:30 a.m. (CT) to discuss these results. Interested investors can join the call at the provided toll-free number or access it online. A replay will be available until August 10, 2022. UMB Financial offers diverse financial services, including commercial and personal banking, and operates in multiple states.

UMB Financial Corporation (Nasdaq: UMBF) announced an agreement to acquire the health savings account (HSA) business of Old National Bank (Nasdaq: ONB). The deal involves approximately $500 million in client assets, enhancing UMB's direct-to-employer business with around 157,000 accounts across more than 3,000 employer groups. The transaction is part of UMB's strategy for growth in the HSA sector, aiming to leverage synergies from the experienced team transitioning from Old National. The acquisition is pending regulatory approval and expected to close in Q4 2022.

Intain Inc has launched a verification agent module for its Intain Admin platform, enhancing automated loan processing capabilities using artificial intelligence. This upgrade aims to reduce errors, cut costs, and expedite administration in structured finance. UMB Financial Corporation is the first to implement this module, improving efficiency in loan attribute validation. Intain's innovation supports better transaction servicing for financial institutions, potentially boosting their position in the market for verified loan pools. The introduction of blockchain technology aims to attract more institutional investors to the private structured credit market.

UMB Bank has donated $400,000 to CHES, Inc. to enhance credit scores for underserved communities via the rent-reporting platform Esusu. This partnership aims to assist clients in improving their credit ratings by reporting up to 24 months of on-time rent payments to major credit bureaus like Equifax and Transunion. CHES has been active in the Kansas City area since 2010, providing financial empowerment programs that help low-to-moderate income households achieve financial sustainability and readiness for homeownership.