UMB Financial CorporationNews Release

P.O. Box 419226

Kansas City, MO 64141-6226

816/860-7000

umb.com

//FOR IMMEDIATE RELEASE//

Corporate Communication Contact: Jeremy McNeive, 816-860-5088

Investor Relations Contact: Begonya Klumb, 816-860-7906

UMB Financial Corporation Reports Fourth Quarter and Year-End Results

31.5 Percent Increase in Year-Over-Year Earnings

Kansas City, Mo. (January 24, 2006) -- UMB Financial Corporation (NASDAQ: UMBF), a Kansas City-based multi-bank holding company, announced earnings of $56.3 million or $2.61 per share ($2.60 diluted) for the year ended December 31, 2005. This is an increase of $13.5 million, or 31.5 percent, compared to 2004 earnings of $42.8 million, or $1.98 per share ($1.97 diluted). Income was higher due to a 5.1 percent increase in net interest income and a 10.4 percent increase in noninterest income driven both by increases in fee-based revenue as well as net gains on the sales and closures of branches and employee benefit accounts. These revenue increases were offset by a 2.3 percent increase in noninterest expense and a higher effective tax rate in 2005, as compared to 2004.

"2005 was a year of growth and improved financial performance for our company," said Mariner Kemper, Chairman and Chief Executive Officer, UMB Financial Corporation. "The 31.5 percent increase in earnings was driven by loan growth, improvements to noninterest income and modest growth in noninterest expense. 2006 will be a year in which we will continue to make investments to position our company for continued growth. Key investments will be made in people, technology and our distribution network."

For the year ended December 31, 2005 net interest income increased 5.1 percent to $188.3 million, compared to $179.1 million in 2004, due primarily to higher loan balances and improved yields. Total loans, as of December 31, 2005, increased 18.3 percent from December 31, 2004. Loan interest income was up $40.6 million for the year ended December 31, 2005, or 29.8 percent, compared to 2004. Securities income was up $11.9 million for the 2005 calendar year, or 14.3 percent, compared to 2004. The net interest margin was 3.16 percent for the year ended 2005, compared to 3.10 percent for the same period in 2004.

Noninterest income increased $23.8 million for the year ended December 31, 2005, compared to 2004. The increase was primarily due to higher trust and securities processing fees, higher service charges on deposits, net gains on the sales and closures of branches in 2005 and the sale of the employee benefit accounts. Trust and securities processing fees increased primarily due to the 11.3 percent increase in assets under management during 2005. Service charges on deposits increased primarily due to an overdraft protection program implemented in the second half of 2004 and higher per item fees implemented in the second half of 2005. Net gain on the sales and closures of branches was $9.2 million in 2005, as compared to $2.2 million in 2004. Gain on the sale of employee benefit accounts was $3.6 million in 2005, as compared to $1.2 million in 2004.

Noninterest expense increased $8.0 million for the year ended December 31, 2005, compared to the same period in 2004. This increase was primarily due to a $4.4 million charge, or 55 percent of the increase in noninterest expense, related to payments under a voluntary separation (early retirement) plan in 2005. The remainder of the increase was primarily due to higher processing fees, bankcard expenses, contributions and overdraft fee charge-offs.

Excluding certain adjustments described above (net gains and losses related to the sales and closures of banking facilities, the sale of employee benefit accounts and charges related to the voluntary separation plan) in both years, 2005 net income would have increased approximately 25.3 percent. A table reconciling GAAP net income for these items for the quarter and year-to-date is included with this release to provide a clear portrayal of year-over-year operating results.

The effective tax rate was 26.2 percent for 2005, compared to 17.2 percent for 2004. The increase in effective tax rate was a result of a $1.9 million reduction in rehabilitation tax credits from 2004 and net tax-exempt income representing a smaller percentage of total income. In 2005, net tax-exempt income represented approximately 25 percent of pre-tax income as compared to 36.7 percent of pre-tax income in 2004. This had a 4.1 percent impact on the effective tax rate in 2005 as compared to 2004.

For the year ended December 31, 2005, average loan balances increased $350 million, or 12.6 percent to $3.13 billion, compared to $2.78 billion for the same period in 2004. As of December 31, 2005, UMB had total shareholders' equity of $833 million, compared to $819 million at December 31, 2004.

The quality of the company's loan portfolio remained high as nonperforming loans at December 31, 2005 totaled $10.3 million, compared to $12.8 million a year earlier. As a percentage of total loans, nonperforming loans decreased to 0.30 percent of loans as of December 31, 2005, compared to 0.45 percent of loans as of December 31, 2004. Nonperforming loans are defined as nonaccrual loans and loans more than 90 days past due. The company's allowance for loan losses totaled $40.8 million, or 1.20 percent of total loans as of December 31, 2005, compared to $42.7 million, or 1.49 percent of total loans, as of December 31, 2004.

Fourth-Quarter Results

Earnings for the three months ended December 31, 2005 were $15.0 million, or $0.70 per share ($0.69 diluted). This was an increase of $3.3 million, or 28.3 percent, compared to the prior-year fourth-quarter earnings of $11.7 million, or $0.54 per share ($0.54 diluted).

"In the fourth quarter we continued to gain momentum in our fee businesses. Our Scout mutual funds benefited from record net flows of $263 million in the fourth quarter and $842 million for the year, more than twice the $305 million of net flows registered in 2004. Additionally, we saw improvements in our mutual fund and hedge fund servicing business, and benefited from re-pricing our treasury management and consumer business," said Peter deSilva, President and Chief Operating Officer. "In 2005, we established the foundation for UMB as one of the top card and account solutions for Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), and we crossed the threshold of more than $35 million in health savings account deposits."

Net interest income for the three months ended December 31, 2005 increased $3.3 million, or 7.3 percent, compared to same period in 2004, due primarily to higher loan balances and yields. Net interest margin was 3.12 percent for the three months ended December 31, 2005, compared to 3.02 percent for the same period in 2004.

Noninterest income increased $4.4 million, or 7.8 percent, for the three months ended December 31, 2005, compared to the same period in 2004. The increase was driven primarily by increases in fee-based services, including trust and securities processing, service charges and bankcard fees.

Noninterest expense was relatively flat for the three months ended December 31, 2005, compared to the same period in 2004. Decreases in salary and marketing expenses were offset by increases in occupancy expense, processing fees and other expense. Other expense was higher due to increases in bankcard expenses, overdraft fee charge-offs and other operating losses.

For the three months ended December 31, 2005, average loan balances increased $485 million, or 17.1 percent to $3.33 billion, compared to $2.85 billion for the same period in 2004.

The company declared its regular quarterly dividend of $0.25 per share to be paid on April 3, 2006, to shareholders of record at of the close of business on March 13, 2006.

The company plans to host a conference call to discuss its fourth quarter results on January 25, 2006, at 4 p.m. (CST). Interested parties may access the call by dialing U.S. (toll-free) 877-407-8031 or access the following Web link to the live call: www.vcall.com/CEPage.asp?ID=99067 or visit umb.com.

Forward-Looking Statements:

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements rely on a number of assumptions concerning future events and are subject to risks and uncertainties, which could cause actual results to differ materially from those contemplated by the forward-looking statements in this Current Report on Form 8-K, any exhibits to this Current Report and other public statements the company may make. While management of UMB believes their assumptions are reasonable, UMB cautions that material changes in interest rates, the equity markets, general economic conditions as they relate to the company's loan and fee-based customers, competition in the financial services industry, and other risks and uncertainties detailed in UMB's filings with the Securities and Exchange Commission, may cause actual results to differ materially from those discussed in this release. UMB has no duty to update such statements, and undertakes no obligation to update or supplement forward-looking statements that become untrue because of new information, future events or otherwise.

Non-GAAP Financial Measures:

Certain financial measures contained in this press release exclude significant gains and losses relating to the sales and closures of banking facilities, the sale of employee benefits accounts and the voluntary separation plan. Financial measures which exclude those items have not been determined in accordance with generally accepted accounting principles and are therefore "non-GAAP" financial measures. Management of UMB believes that investors' understanding of the company's performance is enhanced by disclosing these non-GAAP financial measures as a reasonable basis for comparison of the company's ongoing results of operations. These non-GAAP measures should not be considered a substitute for GAAP-basis measures and results. Our non-GAAP measures may not be comparable to non-GAAP measures of other companies. The attached Non-GAAP Reconciliation Table provides a reconciliation of these non-GAAP financial measures to the most closely analogous measure determined in accordance with GAAP.

UMB Financial Corporation is a multi-bank holding company headquartered in Kansas City, Mo., offering complete banking and related financial services to both individual and business customers. Its banking subsidiaries own and operate 140 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include an investment services group based in Milwaukee, Wisconsin, a trust management company in South Dakota, and single-purpose companies that deal with brokerage services, consulting services and insurance. UMB was named one of Business Week's "Web Smart 50" companies in 2005.

###

UMB Financial Corporation
Non-GAAP Reconciliation Schedule
(unaudited, dollars in thousands)
The following tables present the reconciliation of non-GAAP financial measures to reported GAAP
financial measures.
	Three months ended		Year Ended
	December 31,		December 31,
	2005	2004	2005	2004
Net interest income after provision	$ 45,333	$ 44,930	$ 182,515	$ 173,734
Noninterest income	60,906	56,516	251,873	228,103
Noninterest expense	86,906	87,689	358,069	350,102
Income tax provision	4,378	2,098	20,001	8,896
Net Income per GAAP income statement	$ 14,955	$ 11,659	$ 56,318	$ 42,839
Adjustments
Noninterest income
Other gains, net on sales and closures of banking facilities	$ (465)	$ (333)	$ (9,237)	$ (2,185)
Gains on sale of employee benefit accounts	-	(476)	(3,600)	(1,240)
Noninterest expense
VSP	-	-	4,400	-
Total adjustments pre-tax	(465)	(809)	(8,437)	(3,425)
Less: Income taxes	(167)	(291)	(3,037)	(1,233)
After Tax Adjustments to GAAP	(298)	(518)	(5,400)	(2,192)
Adjusted Net Income	$ 14,657	$ 11,141	$ 50,918	$ 40,647
The above table presents the variation in net income on an as reported (GAAP) basis and excluding
certain gains and losses related to the sales and closures of banking facilities, the sale of employee
benefit accounts and charges related to the voluntary separation plan. The press release includes
commentary that compares such GAAP and non-GAAP financial measures.

CONSOLIDATED BALANCE SHEETS				UMB Financial Corporation
(all dollars in thousands) (unaudited)
		December 31,
Assets		2005		2004
Loans:
Commercial, financial and agricultural	$	1,497,496	$	1,204,628
Real estate construction		47,403		27,205
Consumer (net of unearned interest)		987,770		947,105
Real estate		835,207		661,104
Leases		6,068		5,154
Allowance for loan losses		(40,825)		(42,723)
Net loans		3,333,119		2,802,473
Loans held for sale		19,460		24,028
Securities available for sale:
U.S. Treasury and agencies		2,723,718		3,135,997
State and political subdivisions		614,505		452,907
Commercial paper and other		-		-
Total securities available for sale		3,338,223		3,588,904
Securities held to maturity:
State and political subdivisions		67,037		166,065
Federal Reserve Bank stock and other		13,260		9,042
Federal funds and resell agreements		426,578		293,599
Interest bearing due from banks		1,834		1,834
Trading securities		58,488		59,920
Total earning assets		7,257,999		6,945,865
Cash and due from banks		599,580		497,427
Bank premises and equipment, net		236,038		226,239
Accrued income		51,848		36,584
Goodwill on purchased affiliates		59,727		59,115
Other intangibles		4,078		4,859
Other assets		38,519		34,917
Total assets	$	8,247,789	$	7,805,006
Liabilities
Deposits:
Noninterest - bearing demand	$	2,051,922	$	1,993,281
Interest - bearing demand and savings		2,654,637		2,438,419
Time deposits under $100,000		713,249		630,988
Time deposits of $100,000 or more		501,014		325,550
Total deposits		5,920,822		5,388,238
Federal funds and repurchase agreements		1,360,942		1,506,000
Short-term debt		35,091		39,426
Long-term debt		38,471		21,051
Accrued expenses and taxes		39,247		21,530
Other liabilities		19,753		9,579
Total liabilities		7,414,326		6,985,824
Shareholders' Equity
Common stock		27,528		27,528
Capital surplus		728,108		726,595
Unearned compensation		(1,904)		-
Retained earnings		342,675		305,986
Accumulated other comprehensive income (loss)		(21,550)		(10,619)
Treasury stock		(241,394)		(230,308)
Total shareholders' equity		833,463		819,182
Total liabilities and shareholders' equity	$	8,247,789	$	7,805,006

Consolidated Statements of Income								UMB Financial Corporation
(unaudited, dollars in thousands except share and per share data)
		Three Months Ended				Year Ended
		December 31,				December 31,
Interest Income		2005		2004		2005		2004
Loans	$	48,116	$	36,297	$	176,842	$	136,285
Securities:
Taxable Interest		18,165		15,081		64,807		57,746
Tax-exempt interest		5,538		4,533		19,996		18,923
Total securities income		23,703		19,614		84,803		76,669
Federal funds and resell agreements		2,923		1,681		7,980		4,389
Trading securities and other		552		561		2,286		2,111
Total interest income		75,294		58,153		271,911		219,454
Interest Expense
Deposits		17,619		8,130		52,099		27,059
Federal funds and repurchase agreements		8,962		4,799		29,371		12,163
Short-term debt		135		76		418		185
Long-term debt		424		268		1,733		943
Total interest expense		27,140		13,273		83,621		40,350
Net interest income		48,154		44,880		188,290		179,104
Provision for loan losses		2,821		(50)		5,775		5,370
Net interest income after provision for loan losses		45,333		44,930		182,515		173,734
Noninterest Income
Trust and securities processing		21,373		19,846		82,430		75,742
Trading and investment banking		4,724		4,233		18,240		17,915
Service charges on deposits		19,210		17,766		79,420		73,533
Insurance fees and commisions		746		646		3,326		3,487
Brokerage fees		1,358		1,689		5,933		7,731
Bankcard fees		8,657		7,995		33,362		31,435
Gains on sales of assets and deposits, net		465		333		9,237		2,185
Gain on sale of employee benefit accounts		-		476		3,600		1,240
Gains (loss) on sales of securities available for sale		(2)		-		(225)		141
Other		4,375		3,532		16,550		14,694
Total noninterest income		60,906		56,516		251,873		228,103
Noninterest Expense
Salaries and employee benefits		41,966		45,282		190,197		189,876
Occupancy, net		6,740		6,589		26,468		26,131
Equipment		11,188		10,603		44,031		43,422
Supplies, postage and telephone		5,289		5,577		21,808		22,268
Marketing and business development		3,269		4,026		13,309		15,306
Processing fees		6,274		5,859		23,594		21,372
Legal and consulting		2,965		2,743		8,577		8,825
Bankcard		3,381		2,600		11,608		9,116
Amortization of other intangibles		183		185		740		742
Other		5,651		4,225		17,737		13,044
Total noninterest expense		86,906		87,689		358,069		350,102
Income before income taxes		19,333		13,757		76,319		51,735
Income tax provision		4,378		2,098		20,001		8,896
Net income	$	14,955	$	11,659	$	56,318	$	42,839
Per Share Data
Net income- Basic	$	0.70	$	0.54	$	2.61	$	1.98
Net income- Diluted		0.69		0.54		2.60		1.97
Dividends		0.25		0.22		0.91		0.85
Weighted average shares outstanding		21,482,451		21,648,264		21,554,768		21,668,749

Consolidated Statements of
Shareholders' Equity				UMB Financial Corporation
(all dollars in thousands) (unaudited)
										Accum-
										ulated
										Other
						Unearned				Compre-
		Common		Capital		Compen-		Retained		hensive		Treasury
		Stock		Surplus		sation		Earnings		Income		Stock		Total
Balance - January 1, 2004	$	27,528	$	726,405	$	-	$	281,556	$	3,183	$	(226,749)	$	$ 811,923
Comprehensive income
Net income		-		-				42,839		-		-		42,839
Other Comprehensive income, change in unrealized gains (losses) on securities of ($21,958) reclassification adjustment (gains)/ losses included in net income of $141 net of tax $51		-		-				-		(13,802)		-		(13,802)
Total comprehensive income														29,037
Cash dividends ($0.85 per share)		-		-				(18,409)		-		-		(18,409)
Purchase of treasury stock		-		-				-		-		(4,411)		(4,411)
Sale of treasury stock		-		30				-		-		45		75
Exercise of stock options		-		160				-		-		807		967
Balance - December 31, 2004	$	27,528	$	726,595	$	-	$	305,986	$	(10,619)	$	(230,308)	$	819,182
Balance - January 1, 2005	$	27,528	$	726,595	$	-	$	305,986	$	(10,619)	$	(230,308)	$	819,182
Comprehensive income
Net income		-		-				56,318		-		-		56,318
Other Comprehensive income, change in unrealized gains (losses) on securities of $(17,344) net of tax of $6,556 reclassification adjustment included in net income of $(225) net of tax $82		-		-				-		(10,931)		-		(10,931)
Total comprehensive income														45,387
Cash dividends ($0.91 per share)		-		-				(19,629)		-		-		(19,629)
Purchase of treasury stock		-		-				-		-		(13,194)		(13,194)
Issuance of restricted stock				1,140		(2,326)						1,186		-
Recognition of restricted stock
compensation		-		-		422								422
Sale of treasury stock		-		185				-		-		168		353
Exercise of stock options		-		188				-		-		754		942
Balance - December 31, 2005	$	27,528	$	728,108	$	(1,904)	$	342,675	$	(21,550)	$	(241,394)	$	833,463

Average Balances / Yields and Rates				UMB Financial Corporation
(tax - equivalent basis)
(all dollars in thousands)(unaudited)		Year Ended December 31,
		2005				2004
		Average	Average			Average	Average
Assets		Balance	Yield/Rate			Balance	Yield/Rate
Loans, net of unearned interest	$	3,130,813	5.66	%	$	2,781,084	4.91	%
Securities:
Taxable		2,230,559	2.91			2,351,227	2.46
Tax-exempt		629,576	4.72			615,176	4.67
Total securities		2,860,135	3.30			2,966,403	2.91
Federal funds and resell agreements		228,177	3.50			280,305	1.57
Other earning assets		60,144	3.91			69,163	3.15
Total earning assets		6,279,269	4.49			6,096,955	3.76
Allowance for loan losses		(40,506)				(44,303)
Other assets		855,556				875,277
Total assets	$	7,094,319			$	6,927,929
Liabilities and Shareholders' Equity
Interest-bearing deposits	$	3,248,695	1.60	%	$	3,110,432	0.87	%
Federal funds and repurchase agreements		1,029,063	2.85			1,050,891	1.16
Borrowed funds		49,368	4.36			36,052	3.13
Total interest-bearing liabilities		4,327,126	1.93			4,197,375	0.96
Noninterest-bearing demand deposits		1,887,273				1,865,605
Other liabilities		50,508				43,393
Shareholders' equity		829,412				821,556
Total liabilities and shareholders' equity	$	7,094,319			$	6,927,929
Net interest spread			2.56	%			2.80	%
Net interest margin			3.16				3.10
		Three Months Ended December 31,
		2005				2004
		Average	Average			Average	Average
Assets		Balance	Yield/Rate			Balance	Yield/Rate
Loans, net of unearned interest	$	3,330,371	5.74	%	$	2,845,004	5.08	%
Securities:
Taxable		2,145,292	3.36			2,394,293	2.51
Tax-exempt		658,227	4.92			603,574	4.49
Total securities		2,803,519	3.73			2,997,867	2.91
Federal funds and resell agreements		270,372	4.29			315,003	2.12
Other earning assets		55,186	4.13			68,949	3.35
Total earning assets		6,459,448	4.79			6,226,823	3.86
Allowance for loan losses		(40,163)				(44,302)
Other assets		863,063				862,149
Total assets	$	7,282,348			$	7,044,670
Liabilities and Shareholders' Equity
Interest-bearing deposits	$	3,446,028	2.03	%	$	3,145,352	1.03	%
Federal funds and repurchase agreements		994,165	3.58			1,126,110	1.70
Borrowed funds		53,456	4.15			38,507	3.55
Total interest-bearing liabilities		4,493,649	2.40			4,309,969	1.23
Noninterest-bearing demand deposits		1,889,964				1,874,220
Other liabilities		65,224				34,059
Shareholders' equity		833,511				826,422
Total liabilities and shareholders' equity	$	7,282,348			$	7,044,670
Net interest spread			2.39	%			2.64	%
Net interest margin			3.12				3.02

FOURTH QUARTER 2005
FINANCIAL HIGHLIGHTS						UMB Financial Corporation
(all dollars in thousands, except per share data) (unaudited)
Year Ended December 31		2005			2004
Net interest income	$	188,290		$	179,104
Provision for loan losses		5,775			5,370
Noninterest income		251,873			228,103
Noninterest expense		358,069			350,102
Income before income taxes		76,319			51,735
Net income		56,318			42,839
Net income per share - Basic		2.61			1.98
Net income per share - Diluted		2.60			1.97
Return on average assets		0.79	%		0.62	%
Return on average equity		6.79	%		5.21	%
Three Months Ended December 31
Net interest income	$	48,154		$	44,880
Provision for loan losses		2,821			(50)
Noninterest income		60,906			56,516
Noninterest expense		86,906			87,689
Income before income taxes		19,333			13,757
Net income		14,955			11,659
Net income per share - Basic		0.70			0.54
Net income per share - Diluted		0.69			0.54
Return on average assets		0.81	%		0.66	%
Return on average equity		7.12	%		5.61	%
At December 31
Assets	$	8,247,789		$	7,805,006
Loans, net of unearned interest		3,393,404			2,869,224
Securities		3,418,520			3,764,011
Deposits		5,920,822			5,388,238
Shareholders' equity		833,463			819,182
Book value per share		38.78			37.85
Market price per share		63.91			56.66
Equity to assets		10.11	%		10.50	%
Allowance for loan losses	$	40,825		$	42,723
As a % of loans		1.20	%		1.49	%
Nonaccrual and restructured loans	$	5,439		$	9,752
As a % of loans		0.16	%		0.34	%
Loans over 90 days past due	$	4,829		$	3,029
As a % of loans		0.14	%		0.11	%
Other real estate owned	$	-		$	-
Common shares outstanding		21,490,561			21,641,053
Average Balances
Year Ended December 31
Assets	$	7,094,319		$	6,927,929
Loans, net of unearned interest		3,130,813			2,781,084
Securities		2,860,135			2,966,403
Deposits		5,135,968			4,976,037
Shareholders' equity		829,412			821,556

Selected Financial Data
of Affiliate Banks								UMB Financial Corporation
(all dollars in thousands)(unaudited)		December 31, 2005
				Loans
				Net of
		Total		Unearned		Total		Shareholder's
Missouri		Assets		Interest		Deposits		Equity
UMB Bank, n.a.	$	7,094,548	$	2,855,008	$	5,157,828	$	549,325
UMB Bank Warsaw, N.A.		81,642		29,708		56,326		5,687
Colorado
UMB Bank Colorado, n. a.		521,345		295,899		417,349		37,012
Kansas
UMB National Bank of America		600,412		184,936		441,808		76,423
Arizona
UMB Bank Arizona, n. a.		17,999		16,030		1,849		9,861
Banking - Related Subsidiaries
UMB Community Development Corporation
UMB Banc Leasing Corp.
UMB Scout Brokerage Services, Inc.
UMB Scout Insurance Services, Inc.
UMB Capital Corporation
United Missouri Insurance Company
UMB Trust Company of South Dakota
Scout Investment Advisors, Inc.
UMB Fund Services, Inc.
UMB Consulting Services, Inc.