EX-99 2 rrd324198_36265.htm EARNINGS PRESS RELEASE DC11492.pdf -- Converted by SEC Publisher 4.2, created by BCL Technologies Inc., for SEC Filing
UMB Financial Corporation    News Release 
1010 Grand Boulevard     
Kansas City, MO 64106     
816.860.7000     
umb.com     

//FOR IMMEDIATE RELEASE//

Contact: Mandie Nelson: 816.860.5088

Investor Relations Contact: Abby Wendel, 816.860.1685

UMB Financial Corporation Reports Second Quarter 2011 Earnings of $26.3 Million, an Increase of 14.4 Percent

Selected second quarter financial highlights:

·      Total revenue increased 12.6 percent to $187.8 million
 
·      Noninterest income increased 21.1 percent to $107.9 million
 
·      Average total loans increased 6.9 percent to $4.7 billion
 
·      Nonperforming loans decreased from 0.52 percent to 0.33 percent of loans
 
·      Tier 1 capital ratio remains strong at 11.5 percent
 

Kansas City, Mo. (July 26, 2011) – UMB Financial Corporation (NASDAQ: UMBF), a diversified financial holding company, announced earnings for the three months ended June 30, 2011 of $26.3 million or $0.66 per share ($0.65 diluted). This is an increase of $3.3 million, or 14.4 percent, compared to second quarter 2010 earnings of $23.0 million or $0.57 per share ($0.57 diluted). Earnings for the six months ended June 30, 2011 were $57.2 million or $1.43 per share ($1.42 diluted). This is an increase of $8.0 million, or 16.2 percent, compared to the prior year-to-date earnings of $49.2 million or $1.23 per share ($1.22 diluted).

“Our second quarter earnings demonstrated strong performance across most of our businesses and in many of our key metrics,” said Mariner Kemper, Chairman and Chief Executive Officer. “We posted industry-leading revenue and net income improvement through increased noninterest income and steady growth in our balance sheet from both deposit and loan growth. The revenue gains and balance sheet growth outpaced margin pressure originating from the continued low interest rate environment. We achieved record total revenue for the second quarter of $187.8 million, which demonstrates that our recent acquisitions have paid off through strong sales. Noninterest expense increases were led by investments in our businesses which hampered operating leverage this quarter; however, we expect this metric to improve over time. Despite fairly significant headwinds, we are poised to benefit from our diversified business model and believe future opportunities exist for UMB.”

Net Interest Income and Margin

Net interest income for the second quarter of 2011 increased $2.3 million, or 2.9 percent, compared to the same period in 2010. Average earning assets increased by $1.4 billion, or 14.0 percent, compared to the second quarter of 2010. This increase was due to a $791.0 million, or 16.1 percent, increase in average total securities, including trading securities and a $305.2 million, or 6.9 percent, increase in average loans. Net interest margin decreased 31 basis points to 2.98 percent for the three months ended June 30, 2011 compared to the same quarter in 2010.

Noninterest Income and Expense

Noninterest income increased $18.8 million, or 21.1 percent, for the three months ended June 30, 2011 compared to the same period in 2010. This increase is primarily attributed to increased trust and

securities processing income of $15.0 million, or 38.9 percent, for the three months ended June 30, 2011 compared to the same period in 2010. The increase in trust and securities processing income was primarily due to a $4.7 million, or 39.1 percent, increase in advisory fee income from the Scout Funds; a $2.6 million, or 16.3 percent, increase in fund administration and custody services; and a $7.5 million, or 791.3 percent, increase in fees related to institutional and personal investment management services. Bankcard fees increased $2.6 million, or 18.4 percent, compared to the second quarter of 2010 from increased processing fee income. Gains of $6.0 million on securities available for sale were recognized in the second quarter of 2011 compared to $1.1 million during the same period in 2010.

Noninterest expense increased $19.5 million, or 15.4 percent, for the three months ended June 30, 2011 compared to the same period in 2010. The primary driver of this increase is higher salary and benefits expense of $9.4 million, or 14.7 percent, due to higher base salary, commission and health insurance costs. Of this increase in salary and benefits expense, approximately $4.0 million, or 42.6 percent, is related to salary and benefits from acquisitions. Amortization of intangible assets increased $1.7 million, or 70.3 percent, compared to the second quarter of 2010. These increases are largely driven by acquisition activity in the last two quarters of 2010. Processing fees increased $2.1 million, or 18.8 percent, due primarily to fees paid by the advisor to third-party distributors of the Scout Funds. During the second quarter of 2011, the company and its subsidiary banks entered into an agreement to settle a class action lawsuit and established a $7.8 million escrow fund in accordance with this agreement.

“Total revenue increased in the second quarter largely because of the strength of our fee businesses,” said Peter deSilva, President and Chief Operating Officer. “Noninterest income increased 21.1 percent and was 57.4 percent of total revenue, compared to 53.4 percent in the same period a year ago. A continued success story within our Institutional Financial Services segment is Scout Investments. Net flows to our mutual funds were $315 million during the second quarter, driven primarily by mutual fund select list placement in the intermediary distribution channel. Increases in UMB Fund Services revenue and card purchase volume also contributed to our strong noninterest income growth. We are pleased with the results our businesses generated this quarter.”

Balance Sheet

Average total assets for the three months ended June 30, 2011 were $12.4 billion compared to $10.9 billion for the same period in 2010, an increase of $1.5 billion, or 13.9 percent. Average earning assets increased by $1.4 billion for the period, or 14.0 percent.

Actual loan balances on June 30, 2011 were $4.7 billion, an increase of $282.9 million, or 6.4 percent, compared to June 30, 2010. Commercial real estate loans increased $94.2 million, or 7.6 percent, and commercial loans increased $140.3 million, or 7.5 percent. Average loan balances for the three months ended June 30, 2011 increased $305.2 million, or 6.9 percent compared to the same period in 2010.

Nonperforming loans decreased to $15.4 million on June 30, 2011 from $23.1 million on June 30, 2010. As a percentage of loans, nonperforming loans decreased to 0.33 percent as of June 30, 2011 compared to 0.52 percent on June 30, 2010. Nonperforming loans are defined as nonaccrual loans and restructured loans. By comparison, the industry median for nonperforming loans as of March 31, 2011 was 3.88 percent. The company’s allowance for loan losses totaled $72.4 million, or 1.53 percent of loans, as of June 30, 2011 compared to $70.1 million, or 1.58 percent of loans, as of June 30, 2010.

For the three months ended June 30, 2011, average securities, including trading securities, totaled $5.7 billion. This is an increase of $791.0 million, or 16.1 percent, from the same period in 2010.

Average total deposits increased $1.2 billion, or 14.9 percent, to $9.5 billion for the three months ended June 30, 2011 compared to the same period in 2010. Average money market accounts increased by $688.7 million, or 40.5 percent, in 2011 as compared to 2010. Average noninterest-bearing demand deposits increased $439.8 million, or 15.9 percent, compared to 2010. Total deposits

as of June 30, 2011 were $9.9 billion, compared to $8.4 billion as of June 30, 2010, a 17.7 percent increase. Also, as of June 30, 2011, noninterest-bearing demand deposits were 38.5 percent of total deposits.

“The growth in our balance sheet continues to be driven by the growth in deposits,” said Mike Hagedorn, Chief Financial Officer. “Average deposits increased 14.9 percent, compared to the second quarter 2010 and the related cost of funds declined from 0.53 percent to 0.34 percent. We continue to actively manage our $5.6 billion investment portfolio, positioning it for rising interest rates. The well-documented challenges in the financial markets continue to make this difficult.”

As of June 30, 2011, UMB had total shareholders’ equity of $1.1 billion, an increase of 6.0 percent as compared to the same period in 2010. The company declared its regular quarterly cash dividend of $0.195 cents per share to be paid on October 3, 2011, to shareholders of record at the close of business on September 9, 2011.

Year-to-Date

Earnings for the six months ended June 30, 2011 were $57.2 million or $1.43 per share ($1.42 diluted). This is an increase of $8.0 million, or 16.2 percent, compared to the prior year-to-date earnings of $49.2 million or $1.23 per share ($1.22 diluted).

Net interest income for the six months ended June 30, 2011 increased $4.9 million, or 3.2 percent, compared to the same period in 2010. Net interest margin decreased to 2.94 percent for the six months ended June 30, 2011 as compared to 3.24 percent for the same period in 2010.

Noninterest income increased $40.1 million, or 22.9 percent, to $215.6 million for the six months ended June 30, 2011 as compared to the same period in 2010. Trust and securities processing income increased $31.2 million, or 42.0 percent, for year-to-date June 30, 2011 as compared to the same period in 2010. Gains from the sale of securities available for sale of $13.5 million were recognized during the first six months of 2011 compared to $6.5 million for the first six months of 2010.

Noninterest expense increased $37.6 million, or 15.5 percent, for the six months ended June 30, 2011 compared to the same period in 2010. Salary and employee benefit expense increased by $20.0 million, or 15.9 percent. Amortization of intangible assets increased $3.6 million, or 80.1 percent. Processing fees increased $3.3 million, or 14.6 percent. Additionally, during the second quarter, the company established a $7.8 million escrow fund to settle a class action lawsuit.

Interested parties may access the call by dialing (toll-free) 877-941-9205 or (U.S.) 480-629-9835. The live call can also be accessed by following the link http://event.on24.com/r.htm?e=333724&s=1&k=549D1134D7C06433E65E0B316B08B1D4 or by visiting the investor relations area of umb.com.

A replay of the conference call may be heard until August 10, 2011, by calling (toll-free) 800-406-7325 or (U.S.) 303-590-3030. The replay pass code required for playback is conference identification number 4455422. The call replay may also be accessed via the company's Web site, umb.com, by visiting the investor relations area.

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 changes in general economic conditions, changes in interest rates, changes in the

securities markets, changes in operations, changes in competition, technology changes, legislative or regulatory changes, the ability of customers to repay loans, changes in loan demand, increases in employee costs, its ability to integrate acquisitions 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.

About UMB:

UMB Financial Corporation (NASDAQ: UMBF) is a diversified financial holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to commercial, institutional and personal customers nationwide. Its banking subsidiaries own and operate 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 mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and Scout Investments, offering equity and fixed income investment strategies for institutions and individual investors. For more information, visit umb.com or follow us on Twitter at @UMBFinancial

CONSOLIDATED BALANCE SHEETS        UMB Financial Corporation 
(unaudited, dollars in thousands)                 
            June 30,     
Assets        2011        2010 
 
Loans    $    4,731,303    $    4,448,418 
   Allowance for loan losses        (72,442)        (70,110) 
         Net loans        4,658,861        4,378,308 
Loans held for sale        6,581        10,439 
Investment securities:                 
   Available for sale        5,510,299        4,925,822 
   Held to maturity        69,393        57,075 
   Trading securities        43,280        47,779 
   Federal Reserve Bank Stock and other        22,511        21,838 
         Total investment securities        5,645,483        5,052,514 
Federal funds and resell agreements        44,486        29,636 
Interest-bearing due from banks        1,371,431        718,410 
Cash and due from banks        347,369        311,171 
Bank premises and equipment, net        220,499        213,648 
Accrued income        78,129        61,810 
Goodwill        211,114        131,356 
Other intangibles        92,132        53,015 
Other assets        94,491        101,973 
         Total assets    $    12,770,576    $    11,062,280 
 
 
Liabilities                 
Deposits:                 
   Noninterest-bearing demand    $    3,818,556    $    2,865,776 
   Interest-bearing demand and savings        4,696,077        4,047,404 
   Time deposits under $100,000        652,792        716,839 
   Time deposits of $100,000 or more        746,376        790,373 
         Total deposits        9,913,801        8,420,392 
Federal funds and repurchase agreements        1,505,937        1,400,866 
Short-term debt        23,724        28,622 
Long-term debt        7,545        9,316 
Accrued expenses and taxes        166,060        117,837 
Other liabilities        20,553        16,749 
         Total liabilities        11,637,620        9,993,782 
 
Shareholders' Equity                 
Common stock        55,057        55,057 
Capital surplus        719,990        715,038 
Retained earnings        664,805        596,973 
Accumulated other comprehensive income        55,111        60,378 
Treasury stock        (362,007)        (358,948) 
         Total shareholders' equity        1,132,956        1,068,498 
         Total liabilities and shareholders' equity    $    12,770,576    $    11,062,280 

Consolidated Statements of Income                    UMB Financial Corporation 
(unaudited, dollars in thousands except share and per share data)                             
    Three Months Ended                     Six Months Ended 
    June 30,                June 30,     
Interest Income    2011           2010             2011        2010 
Loans    $ 55,106    $    55,949    $    109,095    $    109,432 
Securities:                             
Taxable interest    22,077        22,496        44,385        46,275 
   Tax-exempt interest    8,282        7,028        16,520        14,345 
       Total securities income    30,359        29,524        60,905        60,620 
Federal funds and resell agreements    13        47        28        109 
Interest-bearing due from banks    843        1,032        2,005        2,350 
Trading securities    230        181        491        323 
Total interest income    86,551        86,733        172,524        172,834 
 
Interest Expense                             
Deposits    6,163        8,462        12,829        18,085 
Federal funds and repurchase agreements    398        503        1,066        948 
Other    72        100        263        360 
       Total interest expense    6,633        9,065        14,158        19,393 
Net interest income    79,918        77,668        158,366        153,441 
Provision for loan losses    5,600        8,100        12,700        16,410 
                   Net interest income after provision for loan losses    74,318        69,568        145,666        137,031 
 
Noninterest Income                             
Trust and securities processing    53,635        38,615        105,363        74,187 
Trading and investment banking    6,478        5,530        15,497        12,557 
Service charges on deposits    18,181        20,163        36,789        40,683 
Insurance fees and commissions    1,165        1,287        2,368        2,986 
Brokerage fees    2,573        1,598        4,914        2,934 
Bankcard fees    16,545        13,979        30,987        25,998 
Gains on sale of securities available for sale, net    6,023        1,136        13,480        6,518 
Other    3,256        6,792        6,208        9,643 
       Total noninterest income    107,856        89,100        215,606        175,506 
 
Noninterest Expense                             
Salaries and employee benefits    72,922        63,552        145,821        125,805 
Occupancy, net    9,579        8,924        19,184        17,844 
Equipment    10,774        11,213        21,710        22,083 
Supplies and services    5,577        4,680        11,157        9,387 
Marketing and business development    5,158        4,430        9,280        8,135 
Processing fees    13,319        11,214        25,492        22,242 
Legal and consulting    4,075        2,770        6,692        4,392 
Bankcard    4,219        4,360        8,072        7,550 
Amortization of intangible assets    4,159        2,442        8,165        4,533 
Regulatory fees    2,394        3,516        6,111        6,754 
Class action litigation settlement    7,800        -        7,800        - 
Other    5,605        9,021        11,613        14,750 
       Total noninterest expense    145,581        126,122        281,097        243,475 
 
Income before income taxes    36,593        32,546        80,175        69,062 
Income tax provision    10,272        9,533        22,984        19,864 
Net income    $ 26,321    $    23,013    $    57,191    $    49,198 
 
Per Share Data                             
Net income - basic    $ 0.66    $    0.57    $    1.43    $    1.23 
Net income – diluted    0.65        0.57        1.42        1.22 
Dividends    0.195        0.185        0.390        0.370 
Weighted average shares outstanding    40,080,402        40,079,714        40,075,428        40,084,593 

Consolidated Statements of                                                 
Shareholders' Equity                                        UMB Financial Corporation 
(unaudited, dollars in thousands, except per share data)                                     
 
 
                                Accumulated                 
                                Other                 
        Common        Capital        Retained        Comprehensive           Treasury         
         Stock        Surplus        Earnings        Income        Stock           Total 
 
Balance - January 1, 2010    $    55,057    $    712,774    $    562,748    $    40,454    $    (355,482)    $    1,015,551 
Comprehensive income                                                 
     Net income        -        -        49,198        -        -        49,198 
     Change in unrealized gains on                                                 
securities        -        -        -        19,924        -        19,924 
Total comprehensive income                                                69,122 
Cash dividends ($0.37 per share)        -        -        (14,973)        -        -        (14,973) 
Purchase of treasury stock        -        -        -        -        (5,211)        (5,211) 
Issuance of equity awards        -        (1,225)        -        -        1,350        125 
Recognition of equity based                                                 
     compensation        -        2,882        -        -        -        2,882 
Net tax benefit related to equity                                                 
compensation plans        -        147        -        -        -        147 
Sale of treasury stock        -        233        -        -        125        358 
Exercise of stock options        -        227        -        -        270        497 
 
Balance – June 30, 2010    $    55,057    $    715,038    $    596,973    $    60,378    $    (358,948)    $    1,068,498 
 
 
Balance - January 1, 2011    $    55,057    $    718,306    $    623,415    $    25,465    $    (361,383)    $    1,060,860 
Comprehensive income                                                 
     Net income        -        -        57,191        -        -        57,191 
     Change in unrealized gains on                                                 
securities        -        -        -        29,646        -        29,646 
Total comprehensive income                                                86,837 
Cash dividends ($0.39 per share)        -        -        (15,801)        -        -        (15,801) 
Purchase of treasury stock        -        -        -        -        (3,382)        (3,382) 
Issuance of equity awards        -        (1,918)        -        -        2,157        239 
Recognition of equity based                                                 
     compensation        -        3,262        -        -        -        3,262 
Net tax benefit related to equity                                                 
     compensation plans        -        97        -        -        -        97 
Sale of treasury stock        -        115        -        -        116        231 
Exercise of stock options        -        128        -        -        485        613 
Balance – June 30, 2011    $    55,057    $    719,990    $    664,805    $    55,111    $    (362,007)    $    1,132,956 

Average Balances / Yields and Rates                UMB Financial Corporation         
(tax - equivalent basis)                                 
(unaudited, dollars in thousands)            Three Months Ended June 30,         
        2011            2010         
        Average    Average            Average    Average     
Assets        Balance    Yield/Rate            Balance    Yield/Rate     
Loans, net of unearned interest    $    4,723,668    4.68    %    $    4,418,479    5.08    % 
Securities:                                 
 Taxable        4,281,896    2.07            3,909,296    2.31     
 Tax-exempt        1,386,995    3.65            977,538    4.47     
   Total securities        5,668,891    2.46            4,886,834    2.74     
Federal funds and resell agreements        16,392    0.32            43,402    0.43     
Interest-bearing due from banks        872,967    0.39            551,402    0.75     
Trading securities        49,313    1.98            40,399    1.92     
   Total earning assets        11,331,231    3.22            9,940,516    3.66     
Allowance for loan losses        (72,759)                (67,991)         
Other assets        1,104,871                983,600         
   Total assets    $    12,363,343            $    10,856,125         
 
 
Liabilities and Shareholders' Equity                                 
Interest-bearing deposits    $    6,307,790    0.39    %    $    5,510,102    0.62    % 
Federal funds and repurchase agreements        1,513,263    0.11            1,345,516    0.15     
Borrowed funds        37,638    0.75            46,154    0.87     
   Total interest-bearing liabilities        7,858,691    0.34            6,901,772    0.53     
Noninterest-bearing demand deposits        3,211,035                2,771,267         
Other liabilities        167,196                131,067         
Shareholders' equity        1,126,421                1,052,019         
   Total liabilities and shareholders' equity    $    12,363,343            $    10,856,125         
Net interest spread            2.88    %            3.13    % 
Net interest margin            2.98                3.29     
 
 
            Six Months Ended June 30,         
        2011            2010         
        Average    Average            Average    Average     
Assets        Balance    Yield/Rate            Balance    Yield/Rate     
Loans, net of unearned interest    $    4,678,376    4.71    %    $    4,391,601    5.03    % 
Securities:                                 
 Taxable        4,285,300    2.09            3,823,603    2.44     
 Tax-exempt        1,356,326    3.74            979,218    4.58     
   Total securities        5,641,626    2.49            4,802,821    2.88     
Federal funds and resell agreements        21,128    0.27            65,854    0.33     
Interest-bearing due from banks        1,073,415    0.38            748,294    0.63     
Trading securities        52,055    2.06            38,308    1.84     
   Total earning assets        11,466,600    3.19            10,046,878    3.63     
Allowance for loan losses        (73,921)                (66,499)         
Other assets        1,091,142                953,165         
   Total assets    $    12,483,821            $    10,933,544         
 
 
Liabilities and Shareholders' Equity                                 
Interest-bearing deposits    $    6,371,292    0.41    %    $    5,587,925    0.65    % 
Federal funds and repurchase agreements        1,667,817    0.13            1,367,838    0.14     
Borrowed funds        36,830    1.43            46,934    1.55     
   Total interest-bearing liabilities        8,075,939    0.35            7,002,697    0.56     
Noninterest-bearing demand deposits        3,139,381                2,759,309         
Other liabilities        167,101                127,346         
Shareholders' equity        1,101,400                1,044,192         
   Total liabilities and shareholders' equity    $    12,483,821            $    10,933,544         

Net interest spread    2.84    %    3.07    % 
Net interest margin    2.94        3.24     

SECOND QUARTER 2011                         
FINANCIAL HIGHLIGHTS        UMB Financial Corporation     
(unaudited, dollars in thousands, except share and per share data)                     
 
Six Months Ended June 30        2011            2010     
Net interest income    $    158,366        $    153,441     
Provision for loan losses        12,700            16,410     
Noninterest income        215,606            175,506     
Noninterest expense        281,097            243,475     
Income before income taxes        80,175            69,062     
Net income        57,191            49,198     
Net income per share - Basic        1.43            1.23     
Net income per share - Diluted        1.42            1.22     
Return on average assets        0.92    %        0.91    % 
Return on average equity        10.47    %        9.50    % 
 
Three Months Ended June 30                         
Net interest income    $    79,918        $    77,668     
Provision for loan losses        5,600            8,100     
Noninterest income        107,856            89,100     
Noninterest expense        145,581            126,122     
Income before income taxes        36,593            32,546     
Net income        26,321            23,013     
Net income per share - Basic        0.66            0.57     
Net income per share - Diluted        0.65            0.57     
Return on average assets        0.85    %        0.85    % 
Return on average equity        9.37    %        8.77    % 
 
At June 30                         
Assets    $    12,770,576        $    11,062,280     
Loans, net of unearned interest        4,731,303            4,448,418     
Securities        5,645,483            5,052,514     
Deposits        9,913,801            8,420,392     
Shareholders' equity        1,132,956            1,068,498     
Book value per share        27.97            26.42     
Market price per share        41.88            35.56     
Equity to assets        8.87    %        9.66    % 
Allowance for loan losses    $    72,442        $    70,110     
   As a % of loans        1.53    %        1.58    % 
Nonaccrual and restructured loans    $    15,383        $    23,139     
   As a % of loans        0.33    %        0.52    % 
Loans over 90 days past due    $    7,421        $    14,630     
   As a % of loans        0.16    %        0.33    % 
Other real estate owned    $    6,696        $    6,737     
Net loan charge-offs quarter-to-date    $    5,876        $    5,433     
   As a % of average loans        0.50    %        0.49    % 
Net loan charge-offs year-to-date    $    14,210        $    10,440     
   As a % of average loans        0.61    %        0.48    % 
 
Common shares outstanding        40,499,385            40,443,242     
 
Average Balances                         
Six Months Ended June 30                         
Assets    $    12,483,821        $    10,933,544     
Loans, net of unearned interest        4,678,376            4,391,601     
Securities        5,693,681            4,802,821     
Deposits        9,510,673            8,347,234     
Shareholders' equity        1,101,400            1,044,192     

Selected Financial Data                     
of Affiliate Banks                UMB Financial Corporation 
(unaudited, dollars in thousands)            June 30, 2011     
            Loans         
            Net of         
                   Total        Unearned       Total    Shareholders' 
Missouri                 Assets        Interest    Deposits    Equity 
UMB Bank, n.a.    $ 10,668,231    $     3,824,386 $     8,488,363 $    729,282 
 
Colorado                     
UMB Bank Colorado, n. a.    1,461,050             581,913    992,665    152,556 
 
Kansas                     
UMB National Bank of America    640,302             216,829    391,010    62,932 
 
Arizona                     
UMB Bank Arizona, n. a.    125,173             107,031    51,336    11,784 
 
Banking - Related Subsidiaries                     
UMB CDC, Inc.                     
UMB Banc Leasing Corp.                     
UMB Financial Services, Inc.                     
UMB Insurance, Inc.                     
UMB Capital Corporation                     
United Missouri Insurance Company                     
UMB Trust Company of South Dakota                     
UMB Fund Services, Inc.                     
Kansas City Realty Company                     
Kansas City Financial Corporation                     
UMB Redevelopment Corporation                     
UMB Realty Company, LLC                     
Grand Distribution Services, LLC                     
UMB Distribution Services, LLC                     
J. D. Clark & Co., Inc.                     
UMB Bank & Trust, National Association                     
Scout Distributors, LLC                     
Scout Investments, Inc.                     
Prairie Capital Management, LLC                     
UMB Merchant Banc, LLC                     
UMB Colorado Property, LLC