10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(MARK ONE)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2014

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to             

Commission file number 0-4887

UMB FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Missouri	43-0903811
(State or other jurisdiction of incorporation or organization)	(I.R.S. – Employer Identification Number)
1010 Grand Boulevard, Kansas City, Missouri	64106
(Address of principal executive offices)	(ZIP Code)

(Registrant’s telephone number, including area code): (816) 860-7000

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	x	Accelerated filer	¨
Non-accelerated filer	¨  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock as of the latest practicable date.

As of April 25, 2014, UMB Financial Corporation had 45,438,349 shares of common stock outstanding.

UMB FINANCIAL CORPORATION

FORM 10-Q

INDEX

PART I – FINANCIAL INFORMATION		3
ITEM 1.	FINANCIAL STATEMENTS (UNAUDITED)	3
CONSOLIDATED BALANCE SHEETS		3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME		4
STATEMENTS OF CONSOLIDATED COMPRENSIVE INCOME		5
STATEMENTS OF CHANGES IN CONSOLIDATED SHAREHOLDERS’ EQUITY		6
CONSOLIDATED STATEMENTS OF CASH FLOWS		7
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS		8
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	33
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	48
ITEM 4.	CONTROLS AND PROCEDURES	52
PART II—OTHER INFORMATION		53
ITEM 1.	LEGAL PROCEEDINGS	53
ITEM 1A.	RISK FACTORS	53
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	53
ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	53
ITEM 4.	MINE SAFETY DISCLOSURES	54
ITEM 5.	OTHER INFORMATION	54
ITEM 6.	EXHIBITS	54
SIGNATURES		55
CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT		56
CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT		57
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002		58
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002		59

2

PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

UMB FINANCIAL CORPORATION

CONSOLIDATED BALANCE SHEETS

(unaudited, dollars in thousands, except share and per share data)

	March 31, 2014			December 31, 2013
ASSETS
Loans:	$	6,759,089		$	6,520,512
Allowance for loan losses		(75,514	)		(74,751	)
Net loans		6,683,575			6,445,761
Loans held for sale		1,108			1,357
Investment Securities:
Available for sale		6,734,931			6,762,411
Held to maturity (market value of $236,898 and $231,510, respectively)		219,724			209,770
Trading securities		43,055			28,464
Federal Reserve Bank stock and other		54,551			50,482
Total investment securities		7,052,261			7,051,127
Federal funds sold and securities purchased under agreements to resell		108,986			87,018
Interest-bearing due from banks		770,458			2,093,467
Cash and due from banks		593,956			521,001
Bank premises and equipment, net		247,770			249,689
Accrued income		75,384			78,216
Goodwill		209,758			209,758
Other intangibles		52,483			55,585
Other assets		150,091			118,873
Total assets	$	15,945,830		$	16,911,852
LIABILITIES
Deposits:
Noninterest-bearing demand	$	5,303,067		$	5,189,998
Interest-bearing demand and savings		5,747,984			7,001,126
Time deposits under $100,000		458,484			491,792
Time deposits of $100,000 or more		756,236			957,850
Total deposits		12,265,771			13,640,766
Federal funds purchased and repurchase agreements		1,973,736			1,583,218
Short-term debt		—			107
Long-term debt		5,815			5,055
Accrued expenses and taxes		118,918			153,450
Other liabilities		39,392			23,191
Total liabilities		14,403,632			15,405,787
SHAREHOLDERS’ EQUITY
Common stock, $1.00 par value; 80,000,000 shares authorized, 55,056,730 shares issued, and 45,433,101 and 45,221,237 shares outstanding, respectively		55,057			55,057
Capital surplus		883,195			882,407
Retained earnings		897,826			884,630
Accumulated other comprehensive loss		(13,297	)		(32,640	)
Treasury stock, 9,623,629 and 9,835,493 shares, at cost, respectively		(280,583	)		(283,389	)
Total shareholders’ equity		1,542,198			1,506,065
Total liabilities and shareholders’ equity	$	15,945,830		$	16,911,852

See Notes to Consolidated Financial Statements.

3

UMB FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(unaudited, dollars in thousands, except share and per share data)

	Three Months Ended March 31,
	2014		2013
INTEREST INCOME
Loans	$	58,900	$	54,720
Securities:
Taxable interest		18,961		18,465
Tax-exempt interest		9,907		9,760
Total securities income		28,868		28,225
Federal funds and resell agreements		33		24
Interest-bearing due from banks		1,123		669
Trading securities		123		264
Total interest income		89,047		83,902
INTEREST EXPENSE
Deposits		3,059		3,792
Federal funds purchased and repurchase agreements		481		567
Other		62		60
Total interest expense		3,602		4,419
Net interest income		85,445		79,483
Provision for loan losses		4,500		2,000
Net interest income after provision for loan losses		80,945		77,483
NONINTEREST INCOME
Trust and securities processing		71,563		62,312
Trading and investment banking		4,323		7,109
Service charges on deposit accounts		21,558		21,523
Insurance fees and commissions		603		961
Brokerage fees		1,815		2,946
Bankcard fees		15,623		16,439
Gain on sales of securities available for sale, net		1,470		5,893
Equity earnings on alternative investments		2,530		—
Other		3,479		3,833
Total noninterest income		122,964		121,016
NONINTEREST EXPENSE
Salaries and employee benefits		88,881		83,702
Occupancy, net		9,705		9,887
Equipment		12,663		11,934
Supplies and services		4,637		4,487
Marketing and business development		4,602		4,272
Processing fees		13,651		14,090
Legal and consulting		3,372		3,600
Bankcard		3,688		4,547
Amortization of other intangible assets		3,102		3,456
Regulatory fees		2,516		1,911
Contingency reserve (Note 7)		15,000		—
Other		10,424		8,492
Total noninterest expense		172,241		150,378
Income before income taxes		31,668		48,121
Income tax expense		8,255		13,180
NET INCOME	$	23,413	$	34,941
PER SHARE DATA
Net income – basic	$	0.52	$	0.88
Net income – diluted		0.52		0.87
Dividends		0.225		0.215
Weighted average shares outstanding		44,742,068		39,881,505

See Notes to Consolidated Financial Statements.

4

UMB FINANCIAL CORPORATION

STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME

(unaudited, dollars in thousands)

	Three Months Ended March 31,
	2014			2013
Net income	$	23,413		$	34,941
Other comprehensive income, net of tax:
Unrealized gains on securities:
Change in unrealized holding gains (losses), net		32,459			(27,048	)
Less: Reclassifications adjustment for gains included in net income		(1,470	)		(5,893	)
Change in unrealized gains (losses) on securities during the period		30,989			(32,941	)
Income tax (expense) benefit		(11,646	)		10,925
Other comprehensive income (loss)		19,343			(22,016	)
Comprehensive income	$	42,756		$	12,925

See Notes to Consolidated Financial Statements.

5

UMB FINANCIAL CORPORATION

STATEMENTS OF CHANGES IN CONSOLIDATED SHAREHOLDERS’ EQUITY

(unaudited, dollars in thousands, except per share data)

	Common Stock		Capital Surplus			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Total
Balance – January 1, 2013	$	55,057	$	732,069		$	787,015		$	85,588		$	(380,384	)	$	1,279,345
Total comprehensive income							34,941			(22,016	)					12,925
Cash dividends ($0.215 per share)		—		—			(8,711	)		—			—			(8,711	)
Purchase of treasury stock		—		—			—			—			(1,656	)		(1,656	)
Issuance of equity awards		—		(2,592	)		—			—			3,041			449
Recognition of equity based compensation		—		1,913			—			—			—			1,913
Net tax benefit related to equity compensation plans		—		332			—			—			—			332
Sale of treasury stock		—		42			—			—			24			66
Exercise of stock options		—		445			—			—			450			895
Balance – March 31, 2013	$	55,057	$	732,209		$	813,245		$	63,572		$	(378,525	)	$	1,285,558
Balance – January 1, 2014	$	55,057	$	882,407		$	884,630		$	(32,640	)	$	(283,389	)	$	1,506,065
Total comprehensive income							23,413			19,343						42,756
Cash dividends ($0.225 per share)		—		—			(10,217	)		—			—			(10,217	)
Purchase of treasury stock		—		—			—			—			(2,867	)		(2,867	)
Issuance of equity awards		—		(3,648	)		—			—			4,117			469
Recognition of equity based compensation		—		2,212			—			—			—			2,212
Net tax benefit related to equity compensation plans		—		1,068			—			—			—			1,068
Sale of treasury stock		—		143			—			—			77			220
Exercise of stock options		—		1,013			—			—			1,479			2,492
Balance – March 31, 2014	$	55,057	$	883,195		$	897,826		$	(13,297	)	$	(280,583	)	$	1,542,198

See Notes to Condensed Consolidated Financial Statements.

6

UMB FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited, dollars in thousands)

	Three Months Ended March 31,
	2014			2013
Operating Activities
Net Income	$	23,413		$	34,941
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses		4,500			2,000
Depreciation and amortization		11,344			10,969
Deferred income tax benefit		(2,822	)		(2,591	)
Net increase in trading securities and other earning assets		(17,121	)		(16,824	)
Gains on sales of securities available for sale		(1,470	)		(5,893	)
(Gains) losses on sales of assets		(550	)		303
Amortization of securities premiums, net of discount accretion		13,276			13,433
Originations of loans held for sale		(11,545	)		(39,543	)
Net gains on sales of loans held for sale		(189	)		(211	)
Proceeds from sales of loans held for sale		11,983			37,326
Issuance of equity awards		469			449
Equity based compensation		2,212			1,913
Changes in:
Accrued income (expense)		2,832			(761	)
Accrued expenses and taxes		(28,557	)		(11,956	)
Other assets and liabilities, net		(25,719	)		11,790
Net cash (used in) provided by operating activities		(17,944	)		35,345
Investing Activities
Proceeds from maturities of securities held to maturity		4,500			7,996
Proceeds from sales of securities available for sale		77,583			333,912
Proceeds from maturities of securities available for sale		516,001			514,720
Purchases of securities held to maturity		(16,600	)		(22,734	)
Purchases of securities available for sale		(544,487	)		(805,695	)
Net increase in loans		(242,279	)		(327,354	)
Net (increase) decrease in fed funds sold and resell agreements		(21,968	)		70,822
Net increase in interest bearing balances due from other financial institutions		(53,471	)		(1,004	)
Purchases of bank premises and equipment		(6,926	)		(8,011	)
Net cash received from acquisitions		—			(692	)
Proceeds from sales of bank premises and equipment		1,153			808
Net cash used in investing activities		(286,494	)		(237,232	)
Financing Activities
Net (increase) decrease in demand and savings deposits		(1,140,073	)		1,121,789
Net decrease in time deposits		(234,922	)		(215,696	)
Net decrease (increase) in fed funds purchased and repurchase agreements		390,518			(127,927	)
Net decrease in short-term debt		(107	)		(99	)
Proceeds from long-term debt		1,820			—
Repayment of long-term debt		(1,060	)		(972	)
Payment of contingent consideration on acquisitions		(5,975	)		(4,899	)
Cash dividends paid		(10,201	)		(8,526	)
Net tax benefit related to equity compensation plans		1,068			332
Proceeds from exercise of stock options and sales of treasury shares		2,712			961
Purchases of treasury stock		(2,867	)		(1,656	)
Net cash (used in) provided by financing activities		(999,087	)		763,307
(Decrease) increase in cash and due from banks		(1,303,525	)		561,420
Cash and cash equivalents at beginning of period		2,582,428			1,366,394
Cash and cash equivalents at end of period	$	1,278,903		$	1,927,814
Supplemental Disclosures:
Income taxes paid	$	16,053		$	9,302
Total interest paid		3,720			4,608

See Notes to Consolidated Financial Statements.

7

UMB FINANCIAL CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

1. Financial Statement Presentation

The condensed consolidated financial statements include the accounts of UMB Financial Corporation and its subsidiaries (collectively, the “Company”) after elimination of all intercompany transactions. In the opinion of management of the Company, all adjustments, which were of a normal recurring nature and necessary for a fair presentation of the financial position and results of operations, have been made. The results of operations and cash flows for the interim periods presented may not be indicative of the results of the full year. The financial statements should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations within this Form 10-Q filing and in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

2. Summary of Significant Accounting Policies

The Company is a financial holding company, which offers a wide range of banking and other financial services to its customers through its branches and offices in the states of Missouri, Kansas, Colorado, Illinois, Oklahoma, Texas, Arizona, Nebraska, Pennsylvania, South Dakota, Indiana, Utah, and Wisconsin. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions also impact reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. A summary of the significant accounting policies to assist the reader in understanding the financial presentation is listed in the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

Interest-bearing Due From Banks

Amounts due from the Federal Reserve Bank which are interest-bearing for all periods presented, and amounts due from certificates of deposits issued by other financial institutions are included in interest-bearing due from banks. The amounts due from certificates of deposit totaled $82.9 million and $22.9 million at March 31, 2014 and March 31, 2013, respectively.

This table provides a summary of cash and cash equivalents as presented on the Consolidated Statement of Cash Flows as of March 31, 2014 and March 31, 2013 (in thousands):

	March 31,
	2014		2013
Due from the Federal Reserve	$	684,947	$	1,608,279
Cash and due from banks		593,956		319,535
Cash and cash equivalents at end of period	$	1,278,903	$	1,927,814

Per Share Data

Basic income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted income per share includes the dilutive effect of 640,622 and 418,210 shares issuable upon the exercise of stock options granted by the Company at March 31, 2014 and 2013, respectively.

Options issued under employee benefit plans to purchase 258,254 and 280,611 shares of common stock were outstanding at March 31, 2014 and 2013, respectively, but were not included in the computation of diluted EPS because the options were anti-dilutive.

8

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

3. New Accounting Pronouncements

Investment Companies In June 2013, the FASB issued ASU No. 2013-08, “Amendments to the Scope, Measurement, and Disclosure Requirements” for investment companies. The amendments changed the assessment of whether an entity is an investment company by requiring an entity to possess certain fundamental characteristics, while allowing judgment in assessing other typical characteristics. The ASU was effective January 1, 2014, and the Company did not change the status of any subsidiary, or the accounting applied to a subsidiary, under the new guidelines.

Accounting for Investments in Qualified Affordable Housing Projects In January 2014, the FASB issued ASU No. 2014-01, “Accounting for Investments in Qualified Affordable Housing Projects.” The amendments permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Regardless of whether the reporting entity chooses to elect the proportional amortization method, this ASU introduces new recurring disclosures about all investments in qualified affordable housing projects. The ASU is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this accounting pronouncement will not have a significant impact on the Company’s financial statements or financial statement disclosures.

Reclassification of Residential Real Estate Loans In January 2014, the FASB issued ASU No. 2014-04, “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure.” The amendment is intended to reduce diversity in practice by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loans such that the loan receivable should be derecognized and the real stated property recognized. The amendments in this update are effective for interim and annual periods beginning after December 15, 2014. The adoption of this accounting pronouncement will not have a significant impact on the Company’s financial statements.

9

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

4. Loans and Allowance for Loan Losses

Loan Origination/Risk Management

The Company has certain lending policies and procedures in place that are designed to minimize the level of risk within the loan portfolio. Diversification of the loan portfolio manages the risk associated with fluctuations in economic conditions. The Company maintains an independent loan review department that reviews and validates the risk assessment on a continual basis. Management regularly evaluates the results of the loan reviews. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures.

Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Commercial loans are made based on the identified cash flows of the borrower and on the underlying collateral provided by the borrower. The cash flows of the borrower, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts from its customers. Commercial credit cards are generally unsecured and are underwritten with criteria similar to commercial loans including an analysis of the borrower’s cash flow, available business capital, and overall credit-worthiness of the borrower.

Commercial real estate loans are subject to underwriting standards and processes similar to commercial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. The Company requires an appraisal of the collateral be made at origination and on an as-needed basis, in conformity with current market conditions and regulatory requirements. The underwriting standards address both owner and non-owner occupied real estate.

Construction loans are underwritten using feasibility studies, independent appraisal reviews, sensitivity analysis or absorption and lease rates and financial analysis of the developers and property owners. Construction loans are based upon estimates of costs and value associated with the complete project. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term borrowers, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their repayment being sensitive to interest rate changes, governmental regulation of real property, economic conditions, and the availability of long-term financing.

Underwriting standards for residential real estate and home equity loans are based on the borrower’s loan-to-value percentage, collection remedies, ability to repay, and overall credit history.

Consumer loans are underwritten based on the borrower’s repayment ability. The Company monitors delinquencies on all of its consumer loans and leases and periodically reviews the distribution of FICO scores relative to historical periods to monitor credit risk on its credit card loans. The underwriting and review practices combined with the relatively small loan amounts that are spread across many individual borrowers, minimizes risk. Consumer loans and leases that are 90 days past due or more are considered non-performing.

10

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

This table provides a summary of loan classes and an aging of past due loans at March 31, 2014 and December 31, 2013 (in thousands):

	March 31, 2014
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non-Accrual Loans		Total Past Due		Current		Total Loans
Commercial:
Commercial	$	3,478	$	2,023	$	8,611	$	14,112	$	3,475,917	$	3,490,029
Commercial – credit card		368		126		25		519		120,835		121,354
Real estate:
Real estate – construction		768		—		921		1,689		184,271		185,960
Real estate – commercial		2,660		—		18,104		20,764		1,690,106		1,710,870
Real estate – residential		1,114		—		946		2,060		292,345		294,405
Real estate – HELOC		1,983		—		325		2,308		568,121		570,429
Consumer:
Consumer – credit card		2,391		2,853		869		6,113		294,183		300,296
Consumer – other		2,943		99		352		3,394		58,299		61,693
Leases		157		—		—		157		23,896		24,053
Total loans	$	15,862	$	5,101	$	30,153	$	51,116	$	6,707,973	$	6,759,089

	December 31, 2013
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non-Accrual Loans		Total Past Due		Current		Total Loans
Commercial:
Commercial	$	2,107	$	135	$	8,042	$	10,284	$	3,291,219	$	3,301,503
Commercial – credit card		362		82		38		482		102,788		103,270
Real estate:
Real estate – construction		186		—		934		1,120		151,755		152,875
Real estate – commercial		3,611		344		19,213		23,168		1,678,983		1,702,151
Real estate – residential		1,257		13		868		2,138		287,218		289,356
Real estate – HELOC		880		6		210		1,096		565,032		566,128
Consumer:
Consumer – credit card		3,230		2,448		1,031		6,709		311,627		318,336
Consumer – other		1,727		190		370		2,287		60,625		62,912
Leases		—		—		—		—		23,981		23,981
Total loans	$	13,360	$	3,218	$	30,706	$	47,284	$	6,473,228	$	6,520,512

The Company sold $12.0 million and $37.3 million of residential real estate and student loans in the secondary market without recourse during the periods ended March 31, 2014 and March 31, 2013, respectively.

The Company has ceased the recognition of interest on loans with a carrying value of $30.2 million and $30.7 million at March 31, 2014 and December 31, 2013, respectively. Restructured loans totaled $12.1 million at March 31, 2014 and December 31, 2013. Loans 90 days past due and still accruing interest amounted to $5.1 million and $3.2 million at March 31, 2014 and December 31, 2013, respectively. There was an insignificant amount of interest recognized on impaired loans during 2014 and 2013.

11

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

Credit Quality Indicators

As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to the risk grading of specified classes of loans, net charge-offs, non-performing loans, and general economic conditions.

The Company utilizes a risk grading matrix to assign a rating to each of its commercial, commercial real estate, and construction real estate loans. The loan rankings are summarized into the following categories: Non-watch list, Watch, Special Mention, and Substandard. Any loan not classified in one of the categories described below is considered to be a Non-watch list loan. The loans in any of the three categories below are considered to be a criticized loan. A description of the general characteristics of the loan ranking categories is as follows:

• Watch – This rating represents credit exposure that presents higher than average risk and warrants greater than routine attention by Company personnel due to conditions affecting the borrower, the borrower’s industry or the economic environment. These conditions have resulted in some degree of uncertainty that results in higher than average credit risk.

• Special Mention – This rating reflects a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or the institution’s credit position at some future date. The rating is not adversely classified and does not expose an institution to sufficient risk to warrant adverse classification.

• Substandard – This rating represents an asset inadequately protected by the financial worth and paying capacity of the borrower or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Loans in this category are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual assets classified substandard. This category may include loans where the collection of full principal and interest is doubtful or remote.

All other classes of loans are generally evaluated and monitored based on payment activity. Non-performing loans include restructured loans on non-accrual and all other non-accrual loans.

12

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

This table provides an analysis of the credit risk profile of each loan class at March 31, 2014 and December 31, 2013 (in thousands):

Credit Exposure

Credit Risk Profile by Risk Rating

	Commercial				Real estate - construction
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Non-watch list	$	3,229,699	$	3,041,224	$	183,855	$	151,359
Watch		107,824		110,932		801		210
Special Mention		74,830		78,064		—		—
Substandard		77,676		71,283		1,304		1,306
Total	$	3,490,029	$	3,301,503	$	185,960	$	152,875

	Real estate - commercial
	March 31, 2014		December 31, 2013
Non-watch list	$	1,565,623	$	1,565,894
Watch		79,620		76,647
Special Mention		19,644		19,876
Substandard		45,983		39,734
Total	$	1,710,870	$	1,702,151

Credit Exposure

Credit Risk Profile Based on Payment Activity

	Commercial - credit card				Real estate - residential
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Performing	$	121,329	$	103,232	$	293,459	$	288,488
Non-performing		25		38		946		868
Total	$	121,354	$	103,270	$	294,405	$	289,356
	Real estate - HELOC				Consumer - credit card
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Performing	$	570,104	$	565,918	$	299,427	$	317,305
Non-performing		325		210		869		1,031
Total	$	570,429	$	566,128	$	300,296	$	318,336
	Consumer - other				Leases
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Performing	$	61,341	$	62,542	$	24,053	$	23,981
Non-performing		352		370		—		—
Total	$	61,693	$	62,912	$	24,053	$	23,981

13

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

Allowance for Loan Losses

The allowance for loan losses is a reserve established through a provision for loan losses charged to expense, which represents management’s judgment of inherent probable losses within the Company’s loan portfolio as of the balance sheet date. The allowance is necessary to reserve for estimated loan losses and risks inherent in the loan portfolio. Accordingly, the methodology is based on historical loss trends. The Company’s process for determining the appropriate level of the allowance for loan losses is designed to account for credit deterioration as it occurs. The provision for probable loan losses reflects loan quality trends, including the levels of and trends related to non-accrual loans, past due loans, potential problem loans, criticized loans and net charge-offs or recoveries, among other factors.

The level of the allowance reflects management’s continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic, political and regulatory conditions and estimated losses inherent in the current loan portfolio. Portions of the allowance may be allocated for specific loans; however, the entire allowance is available for any loan that, in management’s judgment, should be charged off. While management utilizes its best judgment and information available, the adequacy of the allowance is dependent upon a variety of factors beyond the Company’s control, including, among other things, the performance of the Company’s loan portfolio, the economy, changes in interest rates and changes in the regulatory environment.

The Company’s allowance for loan losses consists of specific valuation allowances and general valuation allowances based on historical loan loss experience for similar loans with similar characteristics and trends, general economic conditions and other qualitative risk factors both internal and external to the Company.

The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of impaired loans. Loans are classified based on an internal risk grading process that evaluates the obligor’s ability to repay, the underlying collateral, if any, and the economic environment and industry in which the borrower operates. When a loan is considered impaired, the loan is analyzed to determine the need, if any, to specifically allocate a portion of the allowance for loan losses to the loan. Specific valuation allowances are determined by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies, the relative risk ranking of the loan and economic conditions affecting the borrower’s industry.

General valuation allowances are calculated based on the historical loss experience of specific types of loans including an evaluation of the time span and volume of the actual charge-off. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool. The historical loss ratios are updated based on actual charge-off experience. A valuation allowance is established for each pool of similar loans based upon the product of the historical loss ratio, time span to charge-off, and the total dollar amount of the loans in the pool. The Company’s pools of similar loans include similarly risk-graded groups of commercial loans, commercial real estate loans, commercial credit card, home equity loans, consumer real estate loans and consumer and other loans. The Company also considers a loan migration analysis for criticized loans. This analysis includes an assessment of the probability that a loan will move to a loss position based on its risk rating. The consumer credit card pool is evaluated based on delinquencies and credit scores. In addition, a portion of the allowance is determined by a review of qualitative factors by Management.

14

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

ALLOWANCE FOR LOAN LOSSES AND RECORDED INVESTMENT IN LOANS

This table provides a rollforward of the allowance for loan losses by portfolio segment for three months ended March 31, 2014 (in thousands):

	Three Months Ended March 31, 2014
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	48,886		$	15,342		$	10,447		$	76	$	74,751
Charge-offs		(1,471	)		(126	)		(3,088	)		—		(4,685	)
Recoveries		67			9			872			—		948
Provision		881			866			2,753			—		4,500
Ending Balance	$	48,363		$	16,091		$	10,984		$	76	$	75,514
Ending Balance: individually evaluated for impairment	$	2,541		$	1,719		$	—		$	—	$	4,260
Ending Balance: collectively evaluated for impairment		45,822			14,372			10,984			76		71,254
Loans:
Ending Balance: loans	$	3,611,383		$	2,761,664		$	361,989		$	24,053	$	6,759,089
Ending Balance: individually evaluated for impairment		14,719			14,555			2			—		29,276
Ending Balance: collectively evaluated for impairment		3,596,664			2,747,109			361,987			24,053		6,729,813

15

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

ALLOWANCE FOR LOAN LOSSES AND RECORDED INVESTMENT IN LOANS (in thousands)

This table provides a rollforward of the allowance for loan losses by portfolio segment for three months ended March 31, 2013 (in thousands):

	Three Months Ended March 31, 2013
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	43,390		$	15,506		$	12,470		$	60	$	71,426
Charge-offs		(1,397	)		(195	)		(3,257	)		—		(4,849	)
Recoveries		374			9			921			—		1,304
Provision		978			(374	)		1,395			1		2,000
Ending Balance	$	43,345		$	14,946		$	11,529		$	61	$	69,881
Ending Balance: individually evaluated for impairment	$	3,206		$	309		$	—		$	—	$	3,515
Ending Balance: collectively evaluated for impairment		40,139			14,637			11,529			61		66,366
Loans:
Ending Balance: loans	$	3,305,175		$	2,320,388		$	365,217		$	19,901	$	6,010,681
Ending Balance: individually evaluated for impairment		15,974			10,140			46			—		26,160
Ending Balance: collectively evaluated for impairment		3,289,201			2,310,248			365,171			19,901		5,984,521

16

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

Impaired Loans

This table provides an analysis of impaired loans by class at March 31, 2014 and December 31, 2013 (in thousands):

	Three Months Ended March 31, 2014
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	17,684	$	2,855	$	11,864	$	14,719	$	2,541	$	14,678
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		1,403		798		123		921		98		927
Real estate – commercial		14,360		3,052		9,574		12,626		1,621		13,074
Real estate – residential		1,221		1,008		—		1,008		—		1,048
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		3		2		—		2		—		6
Leases		—		—		—		—		—		—
Total	$	34,671	$	7,715	$	21,561	$	29,276	$	4,260	$	29,733

	Year Ended December 31, 2013
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	17,227	$	3,228	$	11,407	$	14,635	$	2,882	$	14,791
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		1,408		810		123		933		—		1,186
Real estate – commercial		14,686		5,305		8,218		13,523		94		10,506
Real estate – residential		1,317		1,087		—		1,087		1,276		1,122
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		12		11		—		11		—		34
Leases		—		—		—		—		—		—
Total	$	34,650	$	10,441	$	19,748	$	30,189	$	4,252	$	27,639

17

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

Troubled Debt Restructurings

A loan modification is considered a troubled debt restructuring (TDR) when a concession had been granted to a debtor experiencing financial difficulties. The Company’s modifications generally include interest rate adjustments, principal reductions, and amortization and maturity date extensions. These modifications allow the debtor short-term cash relief to allow them to improve their financial condition. The Company’s restructured loans are individually evaluated for impairment and evaluated as part of the allowance for loan loss as described above in the Allowance for Loan Losses section of this note.

The Company had $279 thousand in commitments to lend to borrowers with loan modifications classified as TDR’s. The Company made no TDR’s in the last 12 months that had payment defaults for the three month period ended March 31, 2014.

This table provides a summary of loans restructured by class during the three months ended March 31, 2014 and 2013 (in thousands):

	Three Months Ended March 31, 2014						Three Months Ended March 31, 2013
	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Troubled Debt Restructurings
Commercial:
Commercial		1	$	469	$	469		—	$	—	$	—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—		—		—
Real estate – commercial		—		—		—		2		1,408		1,407
Real estate – residential		—		—		—		—		—		—
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		—		—		—		—		—		—
Leases		—		—		—		—		—		—
Total		1	$	469	$	469		2	$	1,408	$	1,407

18

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

5. Securities

Securities Available for Sale

This table provides detailed information about securities available for sale at March 31, 2014 and December 31, 2013 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
March 31, 2014	Cost		Gains		Losses			Value
U.S. Treasury	$	252,195	$	320	$	(725	)	$	251,790
U.S. Agencies		1,019,869		1,797		(2,041	)		1,019,625
Mortgage-backed		3,108,155		23,477		(48,246	)		3,083,386
State and political subdivisions		1,951,916		24,097		(18,441	)		1,957,572
Corporates		424,106		539		(2,087	)		422,558
Total	$	6,756,241	$	50,230	$	(71,540	)	$	6,734,931
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
December 31, 2013	Cost		Gains		Losses			Value
U.S. Treasury	$	110,789	$	284	$	(873	)	$	110,200
U.S. Agencies		1,258,176		2,793		(3,306	)		1,257,663
Mortgage-backed		2,984,963		23,942		(64,339	)		2,944,566
State and political subdivisions		2,003,509		23,493		(31,756	)		1,995,246
Corporates		457,275		902		(3,441	)		454,736
Total	$	6,814,712	$	51,414	$	(103,715	)	$	6,762,411

The following table presents contractual maturity information for securities available for sale at March 31, 2014 (in thousands):

	Amortized Cost		Fair Value
Due in 1 year or less	$	469,340	$	471,680
Due after 1 year through 5 years		2,303,020		2,314,245
Due after 5 years through 10 years		729,845		726,462
Due after 10 years		145,881		139,158
Total		3,648,086		3,651,545
Mortgage-backed securities		3,108,155		3,083,386
Total securities available for sale	$	6,756,241	$	6,734,931

Securities may be disposed of before contractual maturities due to sales by the Company or because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

For the three months ended March 31, 2014, proceeds from the sales of securities available for sale were $77.6 million compared to $333.9 million for the same period in 2013. Securities transactions resulted in gross realized gains of $1.5 million and $5.9 million for the three months ended March 31, 2014 and 2013. The gross realized losses for the three months ended March 31, 2014 and 2013 were $11 thousand and $37 thousand, respectively.

Securities available for sale and held to maturity with a market value of $5.4 billion at March 31, 2014 and $5.9 billion at December 31, 2013 were pledged to secure U.S. Government deposits, other public deposits and certain trust deposits as required by law. Of this amount, securities with a market value of $1.6 billion at March 31, 2014 and $1.7 billion at December 31, 2013 were pledged at the Federal Reserve Discount Window but were unencumbered as of those dates.

19

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

The following table shows the Company’s available for sale investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2014 and December 31, 2013 (in thousands).

March 31, 2014	Less than 12 months					12 months or more					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury	$	103,744	$	(725	)	$	—	$	—		$	103,744	$	(725	)
U.S. Agencies		504,992		(1,612	)		33,680		(429	)		538,672		(2,041	)
Mortgage-backed		1,824,634		(42,933	)		127,158		(5,313	)		1,951,792		(48,246	)
State and political subdivisions		600,148		(12,825	)		109,243		(5,616	)		709,391		(18,441	)
Corporates		195,055		(1,423	)		43,670		(664	)		238,725		(2,087	)
Total temporarily - impaired debt securities available for sale	$	3,228,573	$	(59,518	)	$	313,751	$	(12,022	)	$	3,542,324	$	(71,540	)

December 31, 2013	Less than 12 months					12 months or more					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury	$	39,822	$	(873	)	$	—	$	—		$	39,822	$	(873	)
U.S. Agencies		675,509		(3,130	)		9,824		(176	)		685,333		(3,306	)
Mortgage-backed		1,945,964		(60,719	)		89,147		(3,620	)		2,035,111		(64,339	)
State and political subdivisions		662,225		(25,064	)		87,061		(6,692	)		749,286		(31,756	)
Corporates		271,834		(2,458	)		41,522		(983	)		313,356		(3,441	)
Total temporarily - impaired debt securities available for sale	$	3,595,354	$	(92,244	)	$	227,554	$	(11,471	)	$	3,822,908	$	(103,715	)

The unrealized losses in the Company’s investments in U.S. treasury obligations, U.S. government agencies, federal agency mortgage-backed securities, municipal securities, and corporates were caused by changes in interest rates. The Company does not have the intent to sell these securities and does not believe it is more likely than not that the Company will be required to sell these securities before a recovery of fair value. The Company expects to recover its cost basis in the securities and does not consider these investments to be other-than-temporarily impaired at March 31, 2014.

Securities Held to Maturity

The table below provides detailed information for securities held to maturity at March 31, 2014 and December 31, 2013 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
March 31, 2014	Cost		Gains		Losses		Value
State and political subdivisions	$	219,724	$	17,174	$	—	$	236,898
December 31, 2013
State and political subdivisions	$	209,770	$	21,740	$	—	$	231,510

20

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

The following table presents contractual maturity information for securities held to maturity at March 31, 2014 (in thousands):

	Amortized Cost		Fair Value
Due in 1 year or less	$	61	$	66
Due after 1 year through 5 years		27,251		29,381
Due after 5 years through 10 years		98,703		106,418
Due after 10 years		93,709		101,033
Total securities held to maturity	$	219,724	$	236,898

Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

There were no sales of securities held to maturity during the first three months of 2014 or 2013.

Trading Securities

The net unrealized gains on trading securities at March 31, 2014 and March 31, 2013 were $0.3 million and $0.2 million, respectively, and were included in trading and investment banking income on the consolidated statements of income.

Federal Reserve Bank Stock and Other Securities

The table below provides detailed information for Federal Reserve Bank stock and other securities at March 31, 2014 and December 31, 2013(in thousands):

			Gross		Gross
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
March 31, 2014
Federal Reserve Bank stock	$	16,279	$	—	$	—	$	16,279
Other securities – marketable		—		17,385		—		17,385
Other securities – non-marketable		18,427		2,460		—		20,887
Total Federal Reserve Bank stock and other	$	34,706	$	19,845	$	—	$	54,551
December 31, 2013
Federal Reserve Bank stock	$	16,279	$	—	$	—	$	16,279
Other securities – marketable		20		16,612		—		16,632
Other securities – non-marketable		17,139		432		—		17,571
Total Federal Reserve Bank stock and other	$	33,438	$	17,044	$	—	$	50,482

Federal Reserve Bank stock is based on the capital structure of the investing bank and is carried at cost. Other marketable and non-marketable securities include Prairie Capital Management alternative investments in hedge funds and private equity funds, which are accounted for as equity-method investments. The fair value of other marketable securities includes alternative investment securities of $17.4 million at March 31, 2014 and $16.6 million at December 31, 2013. The fair value of other non-marketable securities includes alternative investment securities of $6.3 million at March 31, 2014 and $4.7 million at December 31, 2013. Unrealized gains or losses on alternative investments are recognized in the Equity Earnings on Alternative Investments line of the Company’s Consolidated Statements of Income.

21

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

6. Goodwill and Other Intangibles

Changes in the carrying amount of goodwill for the periods ended March 31, 2014 and December 31, 2013 by reportable segment are as follows (in thousands):

	Bank		Institutional Investment Management		Asset Servicing		Total
Balances as of January 1, 2013	$	142,753	$	47,529	$	19,476	$	209,758
Balances as of December 31, 2013	$	142,753	$	47,529	$	19,476	$	209,758
Balances as of January 1, 2014	$	142,753	$	47,529	$	19,476	$	209,758
Balances as of March 31, 2014	$	142,753	$	47,529	$	19,476	$	209,758

Following are the finite-lived intangible assets that continue to be subject to amortization as of March 31, 2014 and December 31, 2013 (in thousands):

	As of March 31, 2014
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	36,497	$	31,946	$	4,551
Customer relationships		103,960		56,835		47,125
Other intangible assets		3,247		2,440		807
Total intangible assets	$	143,704	$	91,221	$	52,483
	As of December 31, 2013
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	36,497	$	31,674	$	4,823
Customer relationships		103,960		54,062		49,898
Other intangible assets		3,247		2,383		864
Total intangible assets	$	143,704	$	88,119	$	55,585

Following is the aggregate amortization expense recognized in each period (in thousands):

	Three Months Ended March  31,
	2014		2013
Aggregate amortization expense	$	3,102	$	3,456

Estimated amortization expense of intangible assets on future years (in thousands):

For the nine months ending December 31, 2014	$	9,044
For the year ending December 31, 2015		9,550
For the year ending December 31, 2016		8,342
For the year ending December 31, 2017		7,098
For the year ending December 31, 2018		4,908

22

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

7. Commitments, Contingencies and Guarantees

In the normal course of business, the Company is party to financial instruments with off-balance-sheet risk in order to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit, commercial letters of credit, standby letters of credit, futures contracts, forward foreign exchange contracts and spot foreign exchange contracts. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheet. The contract or notional amount of those instruments reflects the extent of involvement the Company has in particular classes of financial instruments. Many of the commitments expire without being drawn upon, therefore, the total amount of these commitments does not necessarily represent the future cash requirements of the Company.

The Company’s exposure to credit loss in the event of nonperformance by the counterparty to the financial instruments for commitments to extend credit, commercial letters of credit, and standby letters of credit is represented by the contract or notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments.

The following table summarizes the Company’s off-balance sheet financial instruments.

Contract or Notional Amount (in thousands):

	March 31,		December 31,
	2014		2013
Commitments to extend credit for loans (excluding credit card loans)	$	2,793,554	$	2,690,268
Commitments to extend credit under credit card loans		2,314,445		2,215,278
Commercial letters of credit		1,562		5,949
Standby letters of credit		387,889		356,054
Futures contracts		4,500		—
Forward foreign exchange contracts		16,802		21,525
Spot foreign exchange contracts		1,342		8,001

On March 28, 2014, the Company received objections to its calculation of an earn-out amount owed to the sellers of Prairie Capital Management, LLC (PCM) and a related incentive bonus calculation. The sellers, which include current employees of PCM, claim that a $16.6 million unrealized gain on equity method investments managed by PCM should have been included in the Company’s calculations, which are governed by the asset purchase agreement. The Company disputes this claim but desires to avoid future distractions to the operations of PCM. Based on the probability of future resolution, a $15.0 million contingency reserve was recorded during the first quarter of 2014. This contingency reserve is included in the Other liabilities line on the Company’s consolidated balance sheet and the Contingency reserve line on Company’s consolidated statements of income.

8. Business Segment Reporting

The Company has strategically aligned its operations into the following four reportable segments (collectively, “Business Segments”): Bank, Payment Solutions, Institutional Investment Management, and Asset Servicing. Business segment financial results produced by the Company’s internal management reporting system are evaluated regularly by senior executive officers in deciding how to allocate resources and assess performance for individual Business Segments. The management reporting system assigns balance sheet and income statement items to each business segment using methodologies that are refined on an ongoing basis. For comparability purposes, amounts in all periods presented are based on methodologies in effect at March 31, 2014. Previously reported results have been reclassified to conform to the current organizational structure.

The following summaries provide information about the activities of each segment:

The Bank provides a full range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, internet banking, and ATM network. Services include traditional commercial and consumer banking, treasury management, leasing, foreign exchange, merchant bankcard, wealth management, brokerage, insurance, capital markets, investment banking, corporate trust, and correspondent banking.

23

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

Payment Solutions provides consumer and commercial credit and debit card, prepaid debit card solutions, healthcare services, and institutional cash management. Healthcare services include health savings account and flexible savings account products for healthcare providers, third-party administrators and large employers.

Institutional Investment Management provides equity and fixed income investment strategies in the intermediary and institutional markets via mutual funds, traditional separate accounts and sub-advisory relationships.

Asset Servicing provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts. Services include fund administration, fund accounting, investor services, transfer agency, distribution, marketing, custody, alternative investment services, and collective and multiple-series trust services.

Business Segment Information

Segment financial results were as follows (in thousands):

	Three Months Ended March 31, 2014
	Bank		Payment Solutions		Institutional Investment Management			Asset Servicing		Total
Net interest income	$	71,121	$	12,388	$	(2	)	$	1,938	$	85,445
Provision for loan losses		2,426		2,074		—			—		4,500
Noninterest income		47,420		20,235		34,095			21,214		122,964
Noninterest expense		107,753		21,015		25,894			17,579		172,241
Income before taxes		8,362		9,534		8,199			5,573		31,668
Income tax expense		1,942		2,609		2,184			1,520		8,255
Net income	$	6,420	$	6,925	$	6,015		$	4,053	$	23,413
Average assets	$	12,299,000	$	1,952,000	$	74,000		$	2,179,000	$	16,504,000

	Three Months Ended March 31, 2013
	Bank		Payment Solutions		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	67,260	$	11,548	$	—	$	675	$	79,483
Provision for loan losses		309		1,691		—		—		2,000
Noninterest income		52,748		19,437		28,552		20,279		121,016
Noninterest expense		91,536		20,117		18,845		19,880		150,378
Income before taxes		28,163		9,177		9,707		1,074		48,121
Income tax expense		7,705		2,534		2,667		274		13,180
Net income	$	20,458	$	6,643	$	7,040	$	800	$	34,941
Average assets	$	11,306,000	$	1,698,000	$	78,000	$	1,701,000	$	14,783,000

24

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

9. Derivatives and Hedging Activities

Risk Management Objective of Using Derivatives

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to certain fixed rate assets. The Company also has interest rate derivatives that result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk of the Company’s assets or liabilities. The Company has entered into an offsetting position for each of these derivative instruments with a matching instrument from another financial institution in order to minimize its net risk exposure resulting from such transactions.

Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the fair value of the Company’s derivative financial instruments as of March 31, 2014 and December 31, 2013. The Company’s derivative asset and derivative liability are located within Other assets and Other liabilities, respectively, on the Company’s Consolidated Balance Sheet.

This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of March 31, 2014 and December 31, 2013 (in thousands):

	Asset Derivatives				Liability Derivatives
Fair value	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Interest Rate Products:
Derivatives not designated as hedging instruments	$	3,378	$	2,442	$	3,365	$	2,346
Derivatives designated as hedging instruments		—		76		43		—
Total	$	3,378	$	2,518	$	3,408	$	2,346

Fair Value Hedges of Interest Rate Risk

The Company is exposed to changes in the fair value of certain of its fixed-rate assets due to changes in the benchmark interest rate, LIBOR. Interest rate swaps designated as fair value hedges involve making fixed-rate payments to a counterparty in exchange for the Company receiving variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. As of March 31, 2014, the Company had one interest rate swap with a notional amount of $6.8 million that was designated as a fair value hedge of interest rate risk associated with the Company’s fixed rate loan assets.

25

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

Designated Hedges

For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in earnings. The Company includes the gain or loss on the hedged items in the same line item as the offsetting loss or gain on the related derivatives. During the three months ended March 31, 2014, the Company recognized a net loss of $10 thousand in other noninterest expense related to hedge ineffectiveness.

Non-designated Hedges

The remainder of the Company’s derivatives are not designated in qualifying hedging relationships. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously offset by interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. As of March 31, 2014, the Company had 26 interest rate swaps with an aggregate notional amount of $333.5 million related to this program. During the three months ended March 31, 2014 and 2013, the Company recognized net losses of $83 thousand and net gains of $106 thousand, respectively, related to changes in the fair value of these swaps.

Effect of Derivative Instruments on the Income Statement

This table provides a summary of the amount of gain (loss) recognized in other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative asset and liability as of March 31, 2014 and March 31, 2013 (in thousands):

	Amount of Gain (Loss) Recognized
	For the Year Ended
	March 31,
	2014			2013
Interest Rate Products
Derivatives not designated as hedging instruments	$	(83	)	$	106
Total	$	(83	)	$	106
Interest Rate Products
Derivatives designated as hedging instruments
Fair value adjustments on derivatives	$	(119	)	$	—
Fair value adjustments on hedged items		109			—
Total	$	(10	)	$	—

Credit-risk-related Contingent Features

The Company has agreements with certain of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations.

As of March 31, 2014 the termination value of derivatives in a net liability position, which includes accrued interest, related to these agreements was $0.2 million. The Company has minimum collateral posting thresholds with certain of its derivative counterparties and has not yet reached its minimum collateral posting threshold under these agreements. If the Company had breached any of these provisions at March 31, 2014, it could have been required to settle its obligations under the agreements at the termination value.

26

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

10. Fair Value Measurements

The following table presents information about the Company’s assets measured at fair value on a recurring basis as of March 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value.

Fair values determined by Level 1 inputs utilize quoted prices in active markets for identical assets and liabilities that the Company has the ability to access. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the hierarchy. In such cases, the fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013 (in thousands):

	Fair Value Measurement As of March 31, 2014
Description	March 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets
U.S. Treasury	$	400	$	400	$	—		$	—
U.S. Agencies		—		—		—			—
Mortgage-backed		7,406		—		7,406			—
State and political subdivisions		5,273		—		5,273			—
Trading – other		29,976		29,979		(3	)		—
Trading securities		43,055		30,379		12,676			—
U.S. Treasury		251,790		251,790		—			—
U.S. Agencies		1,019,625		—		1,019,625			—
Mortgage-backed		3,083,386		—		3,083,386			—
State and political subdivisions		1,957,572		—		1,957,572			—
Corporates		422,558		422,558		—			—
Available for sale securities		6,734,931		674,348		6,060,583			—
Company-owned life insurance		20,058		—		20,058			—
Derivatives		3,378		—		3,378			—
Total	$	6,801,422	$	704,727	$	6,096,695		$	—
Liabilities
Deferred compensation	$	24,106	$	24,106	$	—		$	—
Contingent consideration liability		44,700		—		—			44,700
Derivatives		3,408		—		3,408			—
Total	$	72,214	$	24,106	$	3,408		$	44,700

27

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

	Fair Value Measurement as of December 31, 2013
Description	December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
U.S. Treasury	$	400	$	400	$	—	$	—
U.S. Agencies		—		—		—		—
Mortgage-backed		515		—		515		—
State and political subdivisions		3,072		—		3,072		—
Trading – other		24,477		24,477		—		—
Trading securities		28,464		24,877		3,587		—
U.S. Treasury		110,200		110,200		—		—
U.S. Agencies		1,257,663		—		1,257,663		—
Mortgage-backed		2,944,566		—		2,944,566		—
State and political subdivisions		1,995,246		—		1,995,246		—
Corporates		454,736		454,736		—		—
Available for sale securities		6,762,411		564,936		6,197,475		—
Company-owned life insurance		19,619		—		19,619		—
Derivatives		2,518		—		2,518		—
Total	$	6,813,012	$	589,813	$	6,223,199	$	—
Liabilities
Deferred compensation		19,825	$	19,825	$	—	$	—
Contingent consideration liability		46,201		—		—		46,201
Derivatives		2,346		—		2,346		—
Total	$	68,372	$	19,825	$	2,346	$	46,201

The following table reconciles the beginning and ending fair value of balances of the contingent consideration liability:

	Three Months Ended March 31,
	2014			2013
Beginning Balance	$	46,201		$	51,163
Payment of contingent considerations on acquisitions		(5,975	)		(4,899	)
Income from fair value adjustments		—			(138	)
Expense from fair value adjustments		4,474			3,316
Ending Balance	$	44,700		$	49,442

28

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

The following table presents certain quantitative information about the significant unobservable input used in the fair value measurement for the contingent consideration liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

Description	Valuation Techniques	Significant Unobservable Inputs	Range
Liabilities
Contingent consideration liability	Discounted cash flows	Revenue and expense growth percentage	1% - 78%

An increase in the revenue growth percentage may result in a significantly higher estimated fair value of the contingent consideration liability. Alternatively, a decrease in the revenue growth percentage may result in a significantly lower estimated fair value of the contingent consideration liability.

Valuation methods for instruments measured at fair value on a recurring basis

The following methods and assumptions were used to estimate the fair value of each class of financial instruments measured on a recurring basis:

Securities Available for Sale and Investment Securities Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities.

Trading Securities Fair values for trading securities (including financial futures), are based on quoted market prices where available. If quoted market prices are not available, fair values are based on quoted market prices for similar securities.

Company-owned Life Insurance Fair values are based on quoted market prices or dealer quotes with adjustments for dividends, capital gains, and administrative charges.

Derivatives Fair values are determined using valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees.

Deferred Compensation Fair values are based on quoted market prices or dealer quotes.

Contingent Consideration The fair value of contingent consideration liabilities are derived from a discounted cash flow model of future contingent payments. The valuation of these liabilities are estimated by a collaborative effort of the Company’s mergers and acquisitions group, business unit management, and the corporate accounting group. These groups report primarily to the Company’s Chief Financial Officer. These future contingent payments are calculated based on estimates of future income and expense from each acquisition. These estimated cash flows are projected by the business unit management and reviewed by the mergers and acquisitions group. To obtain a current valuation of these projected cash flows, an expected present value technique is utilized to calculate a discount rate. The cash flow projections and discount rates are reviewed quarterly and updated as market conditions necessitate. Potential valuation adjustments are made as future income and expense projections for each acquisition are made which affect the calculation of the related contingent consideration payment. These adjustments are recorded through noninterest income and expense.

29

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

Assets measured at fair value on a non-recurring basis as of March 31, 2014 and December 31, 2013 (in thousands):

	Fair Value Measurement at March 31, 2014 Using
Description	March 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses) Recognized During the Three Months Ended March 31
Impaired loans	$	17,301	$	—	$	—	$	17,301	$	(8	)
Other real estate owned		35		—		—		35	$	—
Total	$	17,336	$	—	$	—	$	17,336	$	(8	)

	Fair Value Measurement at December 31, 2013 Using
Description	December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses) Recognized During the Twelve Months Ended December 31
Impaired loans	$	15,496	$	—	$	—	$	15,496	$	(2,496	)
Other real estate owned		329		—		—		329		(125	)
Total	$	15,825	$	—	$	—	$	15,825	$	(2,621	)

Valuation methods for instruments measured at fair value on a nonrecurring basis

The following methods and assumptions were used to estimate the fair value of each class of financial instruments measured on a non-recurring basis:

Impaired loans While the overall loan portfolio is not carried at fair value, adjustments are recorded on certain loans to reflect partial write-downs that are based on the value of the underlying collateral. In determining the value of real estate collateral, the Director of Property Management, who reports to the Chief Administrative Officer, obtains external appraisals. The external appraisals are generally based on recent sales of comparable properties which are then adjusted for the unique characteristics of the property being valued. Upon receiving the external appraisal, the Company’s appraisal department led by the Chief Appraiser who reports to the Chief Credit Officer review the appraisal to determine if the appraisal is a reasonable basis for the value of the property based upon historical experience and detailed knowledge of the specific property and location. In the case of non-real estate collateral, reliance is placed on a variety of sources, including external estimates of value and judgments based on the experience and expertise of internal specialists within the Company’s property management group and the Company’s credit department. The valuation of the impaired loans is reviewed on a quarterly basis. Because many of these inputs are not observable, the measurements are classified as Level 3.

Other real estate owned Other real estate owned consists of loan collateral which has been repossessed through foreclosure. This collateral is comprised of commercial and residential real estate and other non-real estate property, including auto, recreational and marine vehicles. Other real estate owned is recorded as held for sale initially at the lower of the loan balance or fair value of the collateral. The initial valuation of the foreclosed property is obtained through an appraisal process similar to the process described in the impaired loans paragraph above. Subsequent to foreclosure, valuations are reviewed quarterly and updated periodically, and the assets may be

30

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

marked down further, reflecting a new cost basis. Fair value measurements may be based upon appraisals or third-party price opinions and, accordingly, those measurements may be classified as Level 2. Other fair value measurements may be based on internally developed pricing methods, and those measurements may be classified as Level 3.

Fair value disclosures require disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The estimated fair value of the Company’s financial instruments at March, 31, 2014 and December 31, 2013 are as follows (in millions):

	Fair Value Measurement at March 31, 2014 Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Estimated Fair Value
FINANCIAL ASSETS
Securities held to maturity	$	219.7	$	—	$	236.9	$	—	$	236.9
Federal Reserve Bank and other		54.6		—		54.6		—		54.6
Loans (exclusive of allowance for loan loss)		6,760.2		—		6,799.6		—		6,799.6
FINANCIAL LIABILITIES
Time deposits		1,214.7		—		1,212.9		—		1,212.9
Long-term debt		5.8		—		6.0		—		6.0
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										1.5
Commercial letters of credit										0.1
Standby letters of credit										0.5

	Fair Value Measurement at December 31, 2013 Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Estimated Fair Value
FINANCIAL ASSETS
Securities held to maturity	$	209.8	$	—	$	231.5	$	—	$	231.5
Federal Reserve Bank and other s		50.5		—		50.5		—		50.5
Loans (exclusive of allowance for loan loss)		6,521.9		—		6,571.6		—		6,571.6
FINANCIAL LIABILITIES
Time deposits		1,449.6		—		1,449.4		—		1,449.4
Long-term debt		5.1		—		4.5		—		4.5
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										6.0
Commercial letters of credit										0.1
Standby letters of credit										2.0

The fair values of cash and short-term investments, demand and savings deposits, federal funds and repurchase agreements, and short-term debt approximate the carrying values.

Securities Held to Maturity Fair value of held-to-maturity securities are estimated by discounting the future cash flows using the current rates at which similar investments would be made to borrowers with similar credit ratings and for the same remaining maturities.

Federal Reserve Bank and Other Amount consists of Federal Reserve Bank stock held by the Bank, Prairie Capital Management equity-method investments, and other miscellaneous investments. The fair value of Federal Reserve Bank stock is considered to be the carrying value as no readily determinable market exists for these investments because they can only be redeemed with the FRB. The fair value of Prairie Capital Management marketable equity-method investments are based on quoted market prices used to estimate the value of the underlying investment. For non-marketable equity-method investments, the Company’s proportionate share of the income or loss is recognized on a one-quarter lag based on the valuation of the underlying investment(s).

31

UMB FINANCIAL CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE MONTHS ENDED MARCH 31, 2014 (UNAUDITED)

Loans Fair values are estimated for portfolios with similar financial characteristics. Loans are segregated by type, such as commercial, real estate, consumer, and credit card. Each loan category is further segmented into fixed and variable interest rate categories. The fair value of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.

Time Deposits The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using the rates that are currently offered for deposits of similar remaining maturities.

Long-Term Debt Rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate fair value of existing debt.

Other Off-Balance Sheet Instruments The fair value of loan commitments and letters of credit are determined based on the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreement and the present creditworthiness of the counterparties. Neither the fees earned during the year on these instruments nor their fair value at year-end are significant to the Company’s consolidated financial position.

The fair value estimates presented herein are based on pertinent information available to management as of March 31, 2014 and December 31, 2013. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purposes of these consolidated financial statements since those dates and, therefore, current estimates of fair value may differ significantly from the amount presented herein.

32

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This review highlights the material changes in the results of operations and changes in financial condition for the three-month period ended March 31, 2014. It should be read in conjunction with the accompanying condensed consolidated financial statements, notes to condensed consolidated financial statements and other financial statistics appearing elsewhere in this report. Results of operations for the periods included in this review are not necessarily indicative of results to be attained during any future period.

CAUTIONARY NOTICE ABOUT FORWARD-LOOKING STATEMENTS

From time to time the Company has made, and in the future will make, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “outlook,” “forecast,” “target,” “trend,” “plan,” “goal,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey the Company’s expectations, intentions, or forecasts about future events, circumstances, results, or aspirations.

This report, including any information incorporated by reference in this report, contains forward-looking statements. The Company also may make forward-looking statements in other documents that are filed or furnished with the SEC. In addition, the Company may make forward-looking statements orally or in writing to investors, analysts, members of the media, or others.

All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond the Company’s control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. While no list of assumptions, risks, or uncertainties could be complete, some of the factors that may cause actual results or other future events, circumstances, or aspirations to differ from those in forward-looking statements include:

• local, regional, national, or international business, economic, or political conditions or events;

• changes in laws or the regulatory environment, including as a result of recent financial-services legislation or regulation;

• changes in monetary, fiscal, or trade laws or policies, including as a result of actions by central banks or supranational authorities;

• changes in accounting standards or policies;

• shifts in investor sentiment or behavior in the securities, capital, or other financial markets, including changes in market liquidity or volatility or changes in interest or currency rates;

• changes in spending, borrowing, or saving by businesses or households;

• the Company’s ability to effectively manage capital or liquidity or to effectively attract or deploy deposits;

• changes in any credit rating assigned to the Company or its affiliates;

• adverse publicity or other reputational harm to the Company;

• changes in the Company’s corporate strategies, the composition of its assets, or the way in which it funds those assets;

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• the Company’s ability to develop, maintain, or market products or services or to absorb unanticipated costs or liabilities associated with those products or services;

• the Company’s ability to innovate to anticipate the needs of current or future customers, to successfully compete in its chosen business lines, to increase or hold market share in changing competitive environments, or to deal with pricing or other competitive pressures;

• changes in the credit, liquidity, or other condition of the Company’s customers, counterparties, or competitors;

• the Company’s ability to effectively deal with economic, business, or market slowdowns or disruptions;

• judicial, regulatory, or administrative investigations, proceedings, disputes, or rulings that create uncertainty for or are adverse to the Company or the financial-services industry;

• the Company’s ability to address stricter or heightened regulatory or other governmental supervision or requirements;

• the Company’s ability to maintain secure and functional financial, accounting, technology, data processing, or other operating systems or facilities, including its capacity to withstand cyber-attacks;

• the adequacy of the Company’s corporate governance, risk-management framework, compliance programs, or internal controls, including its ability to control lapses or deficiencies in financial reporting or to effectively mitigate or manage operational risk;

• the efficacy of the Company’s methods or models in assessing business strategies or opportunities or in valuing, measuring, monitoring, or managing positions or risk;

• the Company’s ability to keep pace with changes in technology that affect the Company or its customers, counterparties, or competitors;

• mergers or acquisitions, including the Company’s ability to integrate acquisitions;

• the adequacy of the Company’s succession planning for key executives or other personnel;

• the Company’s ability to grow revenue, to control expenses, or to attract or retain qualified employees;

• natural or man-made disasters, calamities, or conflicts, including terrorist events; or

• other assumptions, risks, or uncertainties described in the Notes to Consolidated Financial Statements (Item 1) in this Form 10-Q and Management’s Discussion and Analysis (Item 2), or the or described in any of the Company’s quarterly or current reports.

Any forward-looking statement made by the Company or on its behalf speaks only as of the date that it was made. The Company does not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that the Company may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, or Current Report on Form 8-K.

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Overview

The Company focuses on the following four core strategies. Management believes these strategies will guide our efforts to achieving our vision, to deliver the Unparalleled Customer Experience, all the while maintaining a focus to improve net income and strengthen the balance sheet.

The first strategy is to maintain high quality through a strong balance sheet, solid credit quality, a low cost of funding, and effective risk management. The strength in the balance sheet can be seen in the solid credit quality of the earning assets and the Company’s continued growth in low cost funding. At March 31, 2014, the Company’s nonperforming assets as a percentage of total assets were 0.20 percent. As a percentage of loans, nonperforming loans decreased to 0.45 percent as compared to 0.46 percent on March 31, 2013. These credit quality ratios were achieved while maintaining positive directional growth in average earning assets, which increased 11.6 percent from March 31, 2013.

The second strategy is to deliver profitable and sustainable growth by accelerating fee businesses, growing quality earning assets, maximizing efficiencies, and maintaining sales leverage. The Company’s acceleration of fee businesses is apparent with the increase in trust and securities processing. Trust and securities processing income increased $9.3 million, or 14.9 percent, for the three months ended March 31, 2014 compared to the same period in 2013. The increase in trust and securities processing income was primarily due to a $4.3 million, or 20.4 percent, increase in advisory fee income from the Scout Funds; a $1.4 million, or 6.9 percent, increase in fund administration and custody services; and a $3.0 million, or 15.4 percent, increase in fees related to institutional and personal investment management services. Also notable is the Company’s loan growth. While maintaining the aforementioned credit ratios, the Company’s March 31, 2014 total loans increased $748.4 million, or 12.5 percent, as compared to the same three month period one year ago.

The third strategy is to maintain diversified revenue streams. The emphasis on fee-based operations helps reduce the Company’s exposure to changes in interest rates. During the first quarter of 2014, noninterest income increased $1.9 million, or 1.6 percent, compared to the same period of 2013. Gains of $1.5 million on securities available for sale were recognized in the first quarter of 2014 compared to $5.9 million during the same period in 2013. The year-over-year change in securities gains are camouflaging the 14.9 percent increase in trust and securities processing in the first quarter of 2014. During the first quarter of 2014, $2.5 million of equity earnings on alternative investments were recognized on Prairie Capital Management investments. There were no unrealized gains or losses recognized in the first quarter of 2013. The Company continues to emphasize its asset management, bankcard services, health care services, and treasury management businesses. At March 31, 2014, noninterest income represented 59.0 percent of total revenues, as compared to 60.4 percent at March 31, 2013.

The fourth strategy is a focus on capital management. The Company places a significant emphasis on the maintenance of a strong capital position, which management believes promotes investor confidence, provides access to funding sources under favorable terms, and enhances the Company’s ability to capitalize on business growth and acquisition opportunities. The Company continues to maximize shareholder value through a mix of reinvesting in organic growth, investing in acquisitions, evaluating increased dividends over time and utilizing a share buy-back strategy when appropriate. At March 31, 2014, the Company had $1.5 billion in total shareholders’ equity. This is an increase of $256.6 million, or 20.0 percent, compared to total shareholders’ equity at March 31, 2013. In 2013, the Company completed the issuance of 4.5 million shares of common stock with net proceeds of $231.4 million to be used for strategic growth purposes. At March 31, 2014, the Company had a total risk-based capital ratio of 14.14 percent, which is higher than the 10 percent regulatory minimum to be considered well-capitalized. The Company repurchased 46,970 shares at an average price of $61.04 per share during the first quarter of 2014.

Earnings Summary

The Company recorded consolidated net income of $23.4 million for the three-month period ended March 31, 2014, compared to $34.9 million for the same period a year earlier. This represents a 33.0 percent decrease over the three-month period ended March 31, 2013. Basic earnings per share for the first quarter of 2014 were $0.52 per share ($0.52 per share fully-diluted) compared to $0.88 per share ($0.87 per share fully-diluted) for the first quarter of 2013. Return on average assets and return on average common shareholders’ equity for the three-month period ended March 31, 2014 were 0.58 and 6.13 percent, respectively, compared to 0.96 and 11.05 percent for the three-month period ended March 31, 2013.

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Net interest income for the three month period ended March 31, 2014 increased $6.0 million, or 7.5 percent, compared to the same period in 2013. Average earning assets increased by $1.7 billion, or 12.4 percent, compared to the first quarter of 2013. Net interest margin, on a tax-equivalent basis, decreased to 2.39 percent or a 12 basis points decline for the three months ended March 31, 2014, compared to 2.51 percent for the same period in 2013.

The provision for loan losses increased by $2.5 million for the three month period ended March 31, 2014, compared to the same period in 2013. These changes are a direct result of applying the Company’s methodology for computing the allowance for loan losses. The allowance for loan losses as a percentage of total loans decreased by four basis points to 1.12 percent as of March 31, 2014, compared to March 31, 2013. For a description of the Company’s methodology for computing the allowance for loan losses, please see the summary discussion of the Allowance for Loan Losses within the Critical Accounting Policies and Estimates subsection of the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section on the Company’s 2013 Annual Report on Form 10-K.

Noninterest income increased by $1.9 million, or 1.6 percent, for the three-month period ended March 31, 2014, compared to the same period one year ago. For the three month period, the increase is primarily due to increased trust and securities processing income and equity earnings on alternative investments offset by decreased trading and investment banking income and decreased levels of securities gains recognized in 2014. These changes are discussed in greater detail below under Noninterest Income.

Noninterest expense increased by $21.9 million, or 14.5 percent, for the three-month period ended March 31, 2014, compared to the same period in 2013. A $15.0 million contingency reserve was recorded in the first quarter of 2014. On March 28, 2014, the Company received objections to its calculation of the earn-out amount owed to the sellers of PCM and a related incentive bonus calculation for the employees of PCM. The Company disputes this claim. Based on the probability of a future resolution, a contingency reserve was recorded. For the three month period, the increase was also due to increased salaries and employee benefits expense and increased fair value adjustments to the contingent consideration liabilities on acquisitions. These changes are discussed in greater detail below under Noninterest Expense.

Net Interest Income

Net interest income is a significant source of the Company’s earnings and represents the amount by which interest income on earning assets exceeds the interest expense paid on liabilities. The volume of interest-earning assets and the related funding sources, the overall mix of these assets and liabilities, and the rates paid on each affect net interest income. For the three-month period ended March 31, 2014, net interest income increased by $6.0 million, or 7.5 percent, as compared to the same period in 2013.

Table 1 shows the impact of earning asset rate changes compared to changes in the cost of interest-bearing liabilities. The Company continues to experience a downward repricing of these earning assets and interest-bearing liabilities during the recent interest rate cycle. While the Company continues to see declining rates, it has been able to improve net interest income. As illustrated in this table, net interest spread for the three months ended March 31, 2014 decreased by 10 basis points and net interest margin decreased by 12 basis points compared to the same period in 2013. These results are primarily due to a favorable volume variance, offset by an unfavorable rate variance on earning assets. The combined impact of these variances coupled with a favorable rate variance on interest-bearing liabilities has led to decreases in interest expense and increases in interest income, or an increase in the Company’s net interest income compared to results one year ago. Interest-bearing liabilities are repricing slower or incrementally less than the earning assets. The increase of $541.0 million of average noninterest-bearing demand deposits, as compared to the first quarter of 2013, continues to be a positive impact. However, with the rate on interest-bearing liabilities decreasing to 0.15 percent as compared to 0.21 percent one year ago, the contribution from free funds is diminished. For the impact of the contribution from free funds, see the Analysis of Net Interest Margin within Table 2 below. Table 2 also illustrates how the changes in volume and rates have resulted in the flattening of net interest income.

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Table 1

AVERAGE BALANCES/YIELDS AND RATES (tax-equivalent basis) (unaudited, dollars in thousands)

The following table presents, for the periods indicated, the average earning assets and resulting yields, as well as the average interest-bearing liabilities and resulting yields, expressed in both dollars and rates. All average balances are daily average balances. The average yield on earning assets without the tax equivalent basis adjustment would have been 2.34 percent for the three-month period ended March 31, 2014 and 2.48 percent for the same period in 2013.

	Three Months Ended March 31,
	2014						2013
	Average Balance			Average Yield/Rate			Average Balance			Average Yield/Rate
Assets
Loans, net of unearned interest	$	6,678,932			3.58	%	$	5,814,855			3.82	%
Securities:
Taxable		4,887,151			1.57			4,871,926			1.54
Tax-exempt		2,109,901			2.93			1,994,620			3.07
Total securities		6,997,052			1.98			6,866,546			1.98
Federal funds and resell agreements		27,155			0.49			19,140			0.51
Interest-bearing due from banks		1,696,482			0.27			972,962			0.28
Other earning assets		38,590			1.48			57,565			2.09
Total earning assets		15,438,211			2.48			13,731,068			2.64
Allowance for loan losses		(74,997	)					(71,504	)
Other assets		1,141,037						1,123,453
Total assets	$	16,504,251					$	14,783,017
Liabilities and Shareholders’ Equity
Interest-bearing deposits	$	7,968,400			0.16	%	$	7,018,471			0.22	%
Federal funds and repurchase agreements		1,667,764			0.12			1,673,062			0.14
Borrowed funds		5,705			4.41			5,392			4.51
Total interest-bearing liabilities		9,641,869			0.15			8,696,925			0.21
Noninterest-bearing demand deposits		5,167,513						4,626,556
Other liabilities		147,147						177,139
Shareholders’ equity		1,547,722						1,282,397
Total liabilities and shareholders’ equity	$	16,504,251					$	14,783,017
Net interest spread					2.33	%					2.43	%
Net interest margin					2.39						2.51

Table 2 presents the dollar amount of change in net interest income and margin due to volume and rate. Table 2 also reflects the effect that interest-free funds have on net interest margin. Although the average balance of interest free funds (total earning assets less interest-bearing liabilities) increased $762.2 million for the three-month period ended March 31, 2014 compared to the same period in 2013, the benefit from interest free funds declined by 2 basis points from the three months ended March 31, 2013.

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Table 2

ANALYSIS OF CHANGES IN NET INTEREST INCOME AND MARGIN (unaudited, dollars in thousands)

ANALYSIS OF CHANGES IN NET INTEREST INCOME

	Three Months Ended March 31, 2014 and 2013
	Volume			Rate			Total
Change in interest earned on:
Loans	$	7,639		$	(3,459	)	$	4,180
Securities:
Taxable		59			437			496
Tax-exempt		825			(678	)		147
Federal funds sold and resell agreements		10			(1	)		9
Interest-bearing due from banks		479			(25	)		454
Trading		(63	)		(78	)		(141	)
Interest income		8,949			(3,804	)		5,145
Change in interest incurred on:
Interest-bearing deposits		365			(1,098	)		(733	)
Federal funds purchased and repurchase agreements		(2	)		(84	)		(86	)
Other borrowed funds		3			(1	)		2
Interest expense		366			(1,183	)		(817	)
Net interest income	$	8,583		$	(2,621	)	$	5,962
ANALYSIS OF NET INTEREST MARGIN
	Three Months Ended March 31,
	2014			2013			Change
Average earning assets	$	15,438,211		$	13,731,068		$	1,707,143
Interest-bearing liabilities		9,641,869			8,696,925			944,944
Interest-free funds	$	5,796,342		$	5,034,143		$	762,199
Free funds ratio (free funds to earning assets)		37.55	%		36.66	%		0.89	%
Tax-equivalent yield on earning assets		2.48	%		2.64	%		(0.16	)%
Cost of interest-bearing liabilities		0.15			0.21			(0.06	)
Net interest spread		2.33	%		2.43	%		(0.10	)%
Benefit of interest-free funds		0.06			0.08			(0.02	)
Net interest margin		2.39	%		2.51	%		(0.12	)%

Provision and Allowance for Loan Losses

The allowance for loan losses (ALL) represents management’s judgment of the losses inherent in the Company’s loan portfolio as of the balance sheet date. An analysis is performed quarterly to determine the appropriate balance of the ALL. This analysis considers items such as historical loss trends, a review of individual loans, migration analysis, current economic conditions, loan growth and characteristics, industry or segment concentration and other factors. After the balance sheet analysis is performed for the ALL, the provision for loan losses is computed as the amount required to adjust the ALL to the appropriate level.

Based on the factors above, management of the Company expensed $4.5 million related to the provision for loan losses for the three month period ended March 31, 2014, compared to $2.0 million for the same period in 2013. As illustrated in Table 3 below, the ALL decreased to 1.12 percent of total loans as of March 31, 2014, compared to 1.16 percent of total loans as of the same period in 2013.

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Table 3 presents a summary of the Company’s ALL for the three months ended March 31, 2014 and 2013 and for the year ended December 31, 2013. Net charge-offs were $3.7 million for the first three months of 2014, compared to $3.5 million for the same period in 2013. See “Credit Risk Management” under “Item 3. Quantitative and Qualitative Disclosures About Market Risk” in this report for information relating to nonaccrual loans, past due loans, restructured loans and other credit risk matters.

Table 3

ANALYSIS OF ALLOWANCE FOR LOAN LOSSES (unaudited, dollars in thousands)

	Three Months Ended						Year Ended
	March 31,						December 31,
	2014			2013			2013
Allowance-January 1	$	74,751		$	71,426		$	71,426
Provision for loan losses		4,500			2,000			17,500
Charge-offs:
Commercial		(1,471	)		(1,397	)		(4,748	)
Consumer:
Credit card		(2,655	)		(2,880	)		(10,531	)
Other		(433	)		(377	)		(1,600	)
Real estate		(126	)		(195	)		(775	)
Total charge-offs		(4,685	)		(4,849	)		(17,654	)
Recoveries:
Commercial		67			374			867
Consumer:
Credit card		631			661			1,720
Other		241			260			815
Real estate		9			9			77
Total recoveries		948			1,304			3,479
Net charge-offs		(3,737	)		(3,545	)		(14,175	)
Allowance-end of period		75,514			69,881			74,751
Average loans, net of unearned interest	$	6,678,179		$	5,809,284		$	6,217,240
Loans at end of period, net of unearned interest		6,759,089			6,010,681			6,520,512
Allowance to loans at end of period		1.12	%		1.16	%		1.15	%
Allowance as a multiple of net charge-offs		4.98x			4.86x			5.27x
Net charge-offs to:
Provision for loan losses		83.04	%		177.25	%		81.00	%
Average loans		0.23			0.25			0.23

Noninterest Income

A key objective of the Company is the growth of noninterest income to enhance profitability and provide steady income. Fee-based businesses are typically non-credit related and not generally affected by fluctuations in interest rates.

The Company’s fee-based businesses provide the opportunity to offer multiple products and services, which management believes will more closely align the customer with the Company. The Company is currently emphasizing fee-based businesses including trust and securities processing, bankcard, brokerage, health care services, and treasury management. Management believes it can offer these products and services both efficiently and profitably, as most share common platforms and support structures.

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Table 4

SUMMARY OF NONINTEREST INCOME (unaudited, dollars in thousands)

	Three Months Ended March 31,				Dollar Change			Percent Change
	2014		2013		14-13			14-13
Trust and securities processing	$	71,563	$	62,312	$	9,251			14.85	%
Trading and investment banking		4,323		7,109		(2,786	)		(39.19	)
Service charges on deposits accounts		21,558		21,523		35			0.16
Insurance fees and commissions		603		961		(358	)		(37.25	)
Brokerage fees		1,815		2,946		(1,131	)		(38.39	)
Bankcard fees		15,623		16,439		(816	)		(4.96	)
Gains on sales of securities available for sale, net		1,470		5,893		(4,423	)		(75.06	)
Equity earnings on alternative investments		2,530		—		2,530			>100.00
Other		3,479		3,833		(354	)		(9.24	)
Total noninterest income	$	122,964	$	121,016	$	1,948			1.61	%

Fee-based, or noninterest income (summarized in Table 4), decreased by $1.9 million, or 1.6 percent, during the three months ended March 31, 2014, compared to the same period in 2013. Table 4 above summarizes the components of noninterest income and the respective year-over-year comparison for each category.

Trust and securities processing consists of fees earned on personal and corporate trust accounts, custody of securities, trust investments and investment management services, and servicing of mutual fund assets. The 14.9 percent increase in trust and securities processing income was primarily due to a $4.3 million, or 20.4 percent, increase in advisory fee income from the Scout Funds, a $1.4 million, or 6.9 percent, increase in fund administration and custody services, and a $3.0 million, or 15.4 percent, increase in fees related to institutional and personal investment management services. Trust and securities processing fees are asset-based, and as such, they are highly correlated to the change in market value of the assets. Thus, the related income for the remainder of the year will be affected by changes in the securities markets. Management continues to emphasize sales of services to both new and existing clients as well as increasing and improving the distribution channels.

Trading and investment banking income decreased by $2.8 million, or 39.2 percent, compared to the same period in 2013. The income in this category is market driven and impacted by general increases or decreases in trading volume.

In the first quarter of 2014, $1.5 million in pre-tax gains were recognized on the sales of securities available for sale, as compared to $5.9 million one year ago. The investment portfolio is continually evaluated for opportunities to improve its performance and risk profile relative to market conditions and the Company’s interest rate expectations. This can result in differences from quarter to quarter in the amount of realized gains.

During the first quarter of 2014, $2.5 million of equity earnings on alternative investments were recognized on Prairie Capital Management investments. There were no unrealized gains or losses recognized in the first quarter of 2013.

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Noninterest Expense

The components of noninterest expense are shown below on Table 5.

Table 5

SUMMARY OF NONINTEREST EXPENSE (unaudited, dollars in thousands)

	Three Months Ended March 31,				Dollar Change			Percent Change
	2014		2013		14-13			14-13
Salaries and employee benefits	$	88,881	$	83,702	$	5,179			6.19	%
Occupancy, net		9,705		9,887		(182	)		(1.84	)
Equipment		12,663		11,934		729			6.11
Supplies and services		4,637		4,487		150			3.34
Marketing and business development		4,602		4,272		330			7.72
Processing fees		13,651		14,090		(439	)		(3.12	)
Legal and consulting		3,372		3,600		(228	)		(6.33	)
Bankcard		3,688		4,547		(859	)		(18.89	)
Amortization of other intangible assets		3,102		3,456		(354	)		(10.24	)
Regulatory fees		2,516		1,911		605			31.66
Contingency reserve		15,000		—		15,000			>100.0
Other		10,424		8,492		1,932			22.75
Total noninterest expense	$	172,241	$	150,378	$	21,863			14.54	%

Noninterest expense increased by $21.9 million, or 14.5 percent, for the three months ended March 31, 2014 compared to the same period in 2013. Table 5 above summarizes the components of noninterest expense and the respective year-over-year comparison for each category.

Salaries and employee benefits increased by $5.2 million, or 6.2 percent, for the three months ended March 31, 2014, compared to the same period in 2013. These increases are primarily due to increases in salaries and wages of $2.7 million, or 5.3 percent, a $1.2 million, or 7.6 percent, increase in commissions and bonuses, and a $1.3 million, or 7.4 percent, increase in employee benefits expense for the three months ended March 31, 2014, compared to the same period of 2013.

Other expense increased $1.9 million, or 22.8 percent, primarily due to fair value adjustments to the contingent consideration liabilities on acquisitions. In the first quarter of 2014, these adjustments totaled $4.5 million compared to $3.3 million for the same period in 2013.

On March 28, 2014, the Company received objections to its calculation of an earn-out amount owed to the sellers of PCM and a related incentive bonus calculation. The sellers, which include current employees of PCM, claim that a $16.6 million unrealized gain on equity method investments managed by PCM should have been included in the Company’s calculations, which are governed by the asset purchase agreement. The Company disputes this claim but desires to avoid future distractions to the operations of PCM. Based on the probability of future resolution, a $15.0 million contingency reserve was recorded during the first quarter of 2014. This contingency reserve is included in the Other liabilities line on the Company’s consolidated balance sheet and the Contingency reserve line on Company’s consolidated statements of income.

Income Tax Expense

The Company’s effective tax rate is 26.1 percent for the three months ended March 31, 2014, compared to 27.4 percent for the same period a year earlier.

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Strategic Lines of Business

Table 6

Bank Operating Results (unaudited, dollars in thousands)

	Three Months Ended March 31,				Dollar Change			Percent Change
	2014		2013		14-13			14-13
Net interest income	$	71,121	$	67,260	$	3,861			5.74	%
Provision for loan losses		2,426		309		2,117			>100.0
Noninterest income		47,420		52,748		(5,328	)		(10.10	)
Noninterest expense		107,753		91,536		16,217			17.72
Income before taxes		8,362		28,163		(19,801	)		(70.31	)
Income tax expense		1,942		7,705		(5,763	)		(74.80	)
Net income	$	6,420	$	20,458	$	(14,038	)		(68.62	)%

Bank net income decreased by $14.0 million, or 68.6 percent, to $6.4 million compared to the prior year. Net interest income increased $3.9 million, or 5.7 percent over the first quarter 2013 driven by strong commercial loan growth, while being slightly offset by interest rate margin compression. Provision increased by $2.1 million, due to characteristics of the loan portfolio driving an increased allowance for loan loss reserve for this segment. Noninterest income decreased $5.3 million, or 10.1 percent, over the same period in 2013 driven by decreased securities gains of $4.4 million, decreased bond trading income of $3.0 million, offset by increased equity earnings on alternative investments of $2.5 million due to unrealized gains on Prairie Capital Management equity method investments. Noninterest expense increased $16.2 million, or 17.7 percent, to $107.8 million compared to the prior year. The increase in noninterest expense is primarily due to a $15.0 million contingency reserve was recorded in the first quarter of 2014. On March 28, 2014, the Company received objections to its calculation of the earn-out amount owed to the sellers of PCM and a related incentive bonus calculation for the employees of PCM. The Company disputes this claim. Based on the probability of a future resolution, a contingency reserve was recorded.

Table 7

Payment Solutions Operating Results (unaudited, dollars in thousands)

	Three Months Ended March 31,				Dollar Change		Percent Change
	2014		2013		14-13		14-13
Net interest income	$	12,388	$	11,548	$	840		7.27	%
Provision for loan losses		2,074		1,691		383		22.65
Noninterest income		20,235		19,437		798		4.11
Noninterest expense		21,015		20,117		898		4.46
Income before taxes		9,534		9,177		357		3.89
Income tax expense		2,609		2,534		75		2.96
Net income	$	6,925	$	6,643	$	282		4.25	%

Payments Solutions net income decreased $0.3 million, or 4.3 percent, to $6.9 million from the prior year. Net interest income increased $0.8 million, or 7.3 percent, and provision expense increased by $0.4 million, or 22.7 percent, compared to the prior year. Noninterest income increased $0.8 million, or 4.1 percent, driven by increased deposit service charges associated with healthcare and institutional banking and investor services. Noninterest expense increased by $0.9 million, or 4.5 percent, primarily due to increased staffing and consulting fees.

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Table 8

Institutional Investment Management Operating Results (unaudited, dollars in thousands)

	Three Months Ended March 31,					Dollar Change			Percent Change
	2014			2013		14-13			14-13
Net interest income	$	(2	)	$	—	$	(2	)		>100.00	%
Provision for loan losses		—			—		—			—
Noninterest income		34,095			28,552		5,543			19.41
Noninterest expense		25,894			18,845		7,049			37.41
Income before taxes		8,199			9,707		(1,508	)		(15.54	)
Income tax expense		2,184			2,667		(483	)		(18.11	)
Net income	$	6,015		$	7,040	$	(1,025	)		(14.56	)%

Institutional Investment Management net income decreased $1.0 million, or 14.6 percent, to $6.0 million compared to the prior year due to an increase in contingent consideration liabilities related to the Reams acquisition. Noninterest income increased $5.5 million, or 19.4 percent, while noninterest expense increased $7.0 million, or 37.4 percent. The increase in noninterest income was primarily due to a $5.7 million increase in advisory fees from mutual funds and separately managed accounts, driven by increased asset values. The increase in noninterest expense was primarily due to a $1.9 million increase in salaries and benefits, a $0.6 million increase in third party distribution expense, and a $4.0 million increase compared to the prior year in contingent consideration liabilities related to cash flow estimate changes on the Reams acquisition.

Table 9

Asset Servicing Operating Results (unaudited, dollars in thousands)

	Three Months Ended March 31,				Dollar Change			Percent Change
	2014		2013		14-13			14-13
Net interest income	$	1,938	$	675	$	1,263			>100.00	%
Provision for loan losses		—		—		—			—
Noninterest income		21,214		20,279		935			4.61
Noninterest expense		17,579		19,880		(2,301	)		(11.57	)
Income before taxes		5,573		1,074		4,499			>100.00
Income tax expense		1,520		274		1,246			>100.00
Net income	$	4,053	$	800	$	3,253			>100.00	%

Asset Servicing net income increased $3.3 million to $4.1 million compared to the same period last year. Net interest income increased $1.3 million compared to last year. Noninterest income increased $0.9 million, or 4.6 percent, due to a $1.4 million, or 6.9%, increase in fee income driven primarily by new business added in transfer agent, alternative investment, and fund administration services, offset by a decrease related to a $0.7 million gain related to the transfer of trust-related distribution services recognized in the first quarter of 2013. Noninterest expense decreased $2.3 million, or 11.6 percent, primarily due to a $2.8 million decrease in the fair value adjustments to the contingent consideration liabilities on acquisitions, offset by an increase in processing fees of $0.3 million compared to last year.

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Balance Sheet Analysis

Total assets of the Company decreased by $966.0 million as of March 31, 2014, compared to December 31, 2013, or 5.7 percent, primarily due to a decrease in due from Federal Reserve balances of $1.4 billion, or 66.8 percent, offset by an increase in loan balances of $238.6 million, or 3.7 percent. The overall decrease in total assets is directly related to a corresponding decrease in deposit balances of $1.4 billion, or 10.1 percent, from December 31, 2013 to March 31, 2014.

Total assets of the Company increased $240.4 million as of March 31, 2014, or 1.5 percent, compared to March 31, 2013. This increase is a result of an increase in loans of $748.4 million, or 12.5 percent, an increase in cash and due from banks of $274.4 million, or 85.9 percent, offset by a decrease in due from Federal Reserve balances of $923.3 million, or 57.4 percent. The overall increase in total assets from March 31, 2013 to March 31, 2014 is directly related to a corresponding increase in total shareholder’s equity of $256.6 million, or 20.0 percent, as a result of the common stock issuance completed in September 2013, which increased total shareholder’s equity by $231.4 million.

Table 10

SELECTED BALANCE SHEET INFORMATION (unaudited, dollars in thousands)

	March 31,				December 31,
	2014		2013		2013
Total assets	$	15,945,830	$	15,705,470	$	16,911,852
Loans, net of unearned interest		6,759,089		6,010,681		6,520,512
Total investment securities		7,052,261		7,069,797		7,051,127
Interest-bearing due from banks		770,458		1,631,163		2,093,467
Total earning assets		14,616,388		14,667,111		15,678,730
Total deposits		12,265,771		12,559,458		13,640,766
Total borrowed funds		1,979,551		1,664,151		1,588,380

Loans and Loans Held For Sale

Loans represent the Company’s largest source of interest income. In addition to growing the commercial loan portfolio, management believes its middle market commercial business and its consumer business, including home equity and credit card loan products, are the market niches that represent its best opportunity to cross-sell fee-related services.

Total loan balances increased $238.6 million, or 3.7 percent, to $6.8 billion at March 31, 2014 compared to December 31, 2013 and increased $748.4 million, or 12.5 percent, compared to March 31, 2013. Compared to December 31, 2013, commercial loans increased $188.5 million, or 5.7 percent. Compared to March 31, 2013, commercial loans increased $303.5 million, or 9.5 percent, commercial real estate increased $267.6 million, or 18.5 percent, and construction real estate increased $101.1 million, or 119.1 percent. The increase in total loans is driven by the Company’s focus on generating higher-yielding assets by shifting assets from the securities portfolio to the loan portfolio.

Nonaccrual, past due and restructured loans are discussed under “Credit Risk Management” within “Item 3. Quantitative and Qualitative Disclosures About Market Risk” in this report.

Investment Securities

The Company’s security portfolio provides liquidity as a result of the composition and average life of the underlying securities. This liquidity can be used to fund loan growth or to offset the outflow of traditional funding sources. In addition to providing a potential source of liquidity, the security portfolio can be used as a tool to manage interest rate sensitivity. The Company’s goal in the management of its security portfolio is to maximize return within the Company’s parameters of liquidity goals, interest rate risk and credit risk. The Company maintains strong liquidity levels while investing in only high-grade securities. The security portfolio generates the Company’s second largest component of interest income.

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Investment securities totaled $7.1 billion at March 31, 2014, March 31, 2013, and December 31, 2013. Management expects collateral pledging requirements for public funds, loan demand, and deposit funding to be the primary factors impacting changes in the level of security holdings. Investment securities comprised 48.3 percent, 45.0 percent, and 48.2 percent, respectively, of the earning assets as of March 31, 2014, December 31, 2013, and March 31, 2013. Securities available for sale and held to maturity with a market value of $5.4 billion at March 31, 2014 were pledged to secure U.S. Government deposits, other public deposits and certain trust deposits as required by law. Of this amount, securities with a market value of $1.6 billion at March 31, 2014 were pledged at the Federal Reserve Discount Window but were unencumbered as of those dates.

Investment securities had an average tax-equivalent yield of 1.98 percent for the first three months of 2014 and 2013. The average life of the securities portfolio was 46.7 months at March 31, 2014 compared to 47.6 months at December 31, 2013 and 42.8 months at March 31, 2013.

Deposits and Borrowed Funds

Deposits decreased $1.4 billion, or 10.1 percent, from December 31, 2013 to March 31, 2014 and decreased $293.7 million, or 2.3 percent, from March 31, 2013. Noninterest-bearing deposits increased $133.1 million and interest-bearing deposits decreased $1.5 billion from December 31, 2013. The decrease in interest-bearing deposits from December 31, 2013 is primarily due to a single Asset Servicing client that migrated approximately $1.5 billion of money market deposits to another financial institution during the quarter ended March 31, 2014. Noninterest-bearing deposits decreased $294.5 million and interest-bearing increased by $847 thousand compared to March 31, 2013.

Deposits represent the Company’s primary funding source for its asset base. In addition to the core deposits garnered by the Company’s retail branch structure, the Company continues to focus on its cash management services, as well as its trust and mutual fund servicing segments, in order to attract and retain additional core deposits. Management believes a strong core deposit composition is one of the Company’s key competencies given its competitive product mix.

Borrowed funds increased $391.2 million from December 31, 2013. Borrowings, other than repurchase agreements, are a function of the source and use of funds and will fluctuate to cover short term gaps in funding. Borrowed funds increased $315.4 million from March 31, 2013.

Federal funds purchased and securities sold under agreement to repurchase totaled $2.0 billion at March 31, 2014, compared to $1.6 billion at December 31, 2013 and $1.7 billion at March 31, 2013. Repurchase agreements are transactions involving the exchange of investment funds by the customer for securities by the Company under an agreement to repurchase the same issues at an agreed-upon price and date.

Capital and Liquidity

The Company places a significant emphasis on the maintenance of a strong capital position, which promotes investor confidence, provides access to funding sources under favorable terms, and enhances the Company’s ability to capitalize on business growth and acquisition opportunities. Higher levels of liquidity, however, bear corresponding costs, measured in terms of lower yields on short-term, more liquid earning assets and higher expenses for extended liability maturities. The Company manages capital for each subsidiary based upon the subsidiary’s respective risks and growth opportunities as well as regulatory requirements.

Total shareholders’ equity was $1.5 billion at March 31, 2014, a $36.1 million increase compared to December 31, 2013 and a $256.6 million increase compared to March 31, 2013. The increase in shareholder’s equity from March 31, 2013 to March 31, 2014 is a result of the common stock issuance completed in September 2013, which increased total shareholder’s equity by $231.4 million.

The Company’s Board of Directors authorized, at its April 22, 2014 and April 23, 2013 meetings, the repurchase of up to two million shares of the Company’s common stock during the twelve months following the meetings. During the three months ended March 31, 2014 and 2013, the Company acquired 46,970 shares and 35,967 shares under the 2014 and 2013 plans, respectively, of its common stock. The Company has not made any purchases other than through these plans.

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On April 22, 2014, the Board of Directors declared a dividend of $0.225 per share. The dividend will be paid on July 1, 2014 to shareholders of record on June 10, 2014.

Risk-based capital guidelines established by regulatory agencies set minimum capital standards based on the level of risk associated with a financial institution’s assets. A financial institution’s total capital is required to equal at least 8 percent of risk-weighted assets. At least half of that 8 percent must consist of Tier 1 core capital, and the remainder may be Tier 2 supplementary capital. The risk-based capital guidelines indicate the specific risk weightings by type of asset. Certain off-balance-sheet items (such as standby letters of credit and binding loan commitments) are multiplied by credit conversion factors to translate them into balance sheet equivalents before assigning them specific risk weightings. Due to the Company’s high level of core capital and substantial portion of earning assets invested in government securities, the Tier 1 capital ratio of 13.35 percent and total capital ratio of 14.14 percent substantially exceed the regulatory minimums.

The Company is also required to maintain a leverage ratio equal to or greater than 4 percent. The leverage ratio is Tier 1 core capital to total average assets less goodwill and intangibles. The Company’s leverage ratio of 8.03 percent as of March 31, 2014 substantially exceeds the regulatory minimum.

In July 2013 the Federal Reserve approved a final rule to implement in the United States the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision and certain changes required by the Dodd-Frank Act. The final rule increases minimum requirements for both the quantity and quality of capital held by banking organizations. The rule includes a new minimum ratio of common equity tier 1 capital to risk-weighted assets of 4.5% and a common equity tier 1 capital conservation buffer of 2.5% of risk-weighted assets. The final rule also adjusted the methodology for calculating risk-weighted assets to enhance risk sensitivity. Beginning January 1, 2015, the Company must be compliant with revised minimum regulatory capital ratios and will begin the transitional period for definitions of regulatory capital and regulatory capital adjustments and deductions established under the final rule. Compliance with the risk-weighted asset calculations will be required on January 1, 2015. The Company believes its current capital ratios are higher than those required in the final rule.

Table 11

The Company’s capital position is summarized in the table below and exceeds regulatory requirements:

	Three Months Ended
	March 31,
RATIOS	2014			2013
Return on average assets		0.58	%		0.96	%
Return on average equity		6.13			11.05
Average equity to assets		9.38			8.67
Tier 1 risk-based capital ratio		13.35			10.92
Total risk-based capital ratio		14.14			11.74
Leverage ratio		8.03			6.60

The Company’s per share data is summarized in the table below.

	Three Months Ended
	March 31,
Per Share Data	2014			2013
Earnings basic	$	0.52		$	0.88
Earnings diluted		0.52			0.87
Cash dividends		0.225			0.215
Dividend payout ratio		43.27	%		24.43	%
Book value	$	33.94		$	31.73

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Off-balance Sheet Arrangements

The Company’s main off-balance sheet arrangements are loan commitments, commercial and standby letters of credit, futures contracts and forward exchange contracts, which have maturity dates rather than payment due dates. Please see Note 7, “Commitments, Contingencies and Guarantees” in the Notes to Condensed Consolidated Financial Statements for detailed information on these arrangements.

Critical Accounting Policies and Estimates

Management’s Discussion and Analysis of Financial Condition and Results of Operations discusses the Company’s condensed consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, management evaluates its estimates and judgments, including those related to allowance for loan losses, investments, long-lived assets, contingencies and litigation. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which have formed the basis for making such judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from the recorded estimates under different assumptions or conditions. A summary of critical accounting policies is listed in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section of the Company’s Annual Report Form 10-K for the fiscal year ended December 31, 2013.

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Risk Management

Market risk is a broad term for the risk of economic loss due to adverse changes in the fair value of financial instruments. These changes may be the result of various factors, including interest rates, foreign exchange prices, commodity prices or equity prices. Financial instruments that are subject to market risk can be classified either as held for trading or held for purposes other than trading.

Interest Rate Risk

In the banking industry, a major risk exposure is changing interest rates. To minimize the effect of interest rate changes to net interest income and exposure levels to economic losses, the Company manages its exposure to changes in interest rates through asset and liability management within guidelines established by its Asset Liability Committee (“ALCO”) and approved by the Company’s Board of Directors. The ALCO has the responsibility for approving and ensuring compliance with asset/liability management policies, including interest rate exposure. The Company’s primary method for measuring and analyzing consolidated interest rate risk is the Net Interest Income Simulation Analysis. The Company also uses a Net Portfolio Value model to measure market value risk under various rate change scenarios and a gap analysis to measure maturity and repricing relationships between interest-earning assets and interest-bearing liabilities at specific points in time. On a limited basis, the Company uses hedges such as swaps and futures contracts to manage interest rate risk on certain loans and trading securities.

Overall, the Company manages interest rate risk by positioning the balance sheet to maximize net interest income while maintaining an acceptable level of interest rate and credit risk, remaining mindful of the relationship among profitability, liquidity, interest rate risk and credit risk.

Net Interest Income Modeling

The Company’s primary interest rate risk tool, the Net Interest Income Simulation Analysis, measures interest rate risk and the effect of interest rate changes on net interest income and net interest margin. This analysis incorporates substantially all of the Company’s assets and liabilities together with forecasted changes in the balance sheet and assumptions that reflect the current interest rate environment. Through these simulations, management estimates the impact on net interest income of a 300 basis point upward and a 100 basis point downward gradual change of market interest rates over a one year period. Assumptions are made to project rates for new loans and deposits based on historical analysis, management outlook, and repricing strategies. Asset prepayments and other market risks are developed from industry estimates of prepayment speeds and other market changes. Since the results of these simulations can be significantly influenced by assumptions utilized, management evaluates the sensitivity of the simulation results to changes in assumptions.

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Table 12 shows the net interest income increase or decrease over the next twelve months as of March 31, 2014 and 2013 based on hypothetical changes in interest rates.

Table 12

MARKET RISK (unaudited, dollars in thousands)

Hypothetical change in interest rate (Rates in Basis Points)	March 31, 2014 Amount of  change	March 31, 2013 Amount of  change
300	$20,929	$27,259
200	14,187	18,252
100	7,335	9,185
Static	—	—
(100)	N/A	N/A

The Company is sensitive at March 31, 2014 to increases in rates. Increases in interest rates are projected to cause increases in net interest income. Due to the already low interest rate environment, the Company did not include a 100 basis point falling scenario. There is little room for projected yields on liabilities to decrease. For projected increases in rates, net interest income is projected to increase due to the Company being positioned to adjust yields on assets with changes in market rates more than the cost of paying liabilities is projected to increase.

Trading Account

The Company’s subsidiary, UMB Bank, n.a. carries taxable governmental securities in a trading account that is maintained according to Board-approved policy and procedures. The policy limits the amount and type of securities that can be carried in the trading account and requires compliance with any limits under applicable law and regulations, and mandates the use of a value-at-risk methodology to manage price volatility risks within financial parameters. The risk associated with the carrying of trading securities is offset by the sale of exchange-traded financial futures contracts, with both the trading account and futures contracts marked to market daily. This account had a balance of $43.1 million as of March 31, 2014 compared to $28.5 million as of December 31, 2013.

The Company is subject to market risk primarily through the effect of changes in interest rates of its assets held for purposes other than trading. The discussion in Table 12 above of interest rate risk, however, combines instruments held for trading and instruments held for purposes other than trading, because the instruments held for trading represent such a small portion of the Company’s portfolio that the interest rate risk associated with them is immaterial.

Other Market Risk

The Company does have minimal foreign currency risk as a result of foreign exchange contracts. See Note 7 “Commitments, Contingencies and Guarantees” in the notes to the Condensed Consolidated Financial Statements.

Credit Risk Management

Credit risk represents the risk that a customer or counterparty may not perform in accordance with contractual terms. The Company utilizes a centralized credit administration function, which provides information on the Bank’s risk levels, delinquencies, an internal ranking system and overall credit exposure. Loan requests are centrally reviewed to ensure the consistent application of the loan policy and standards. In addition, the Company has an internal loan review staff that operates independently of the Bank. This review team performs periodic examinations of the bank’s loans for credit quality, documentation and loan administration. The respective regulatory authority of the Bank also reviews loan portfolios.

A primary indicator of credit quality and risk management is the level of nonperforming loans. Nonperforming loans include both nonaccrual loans and restructured loans. The Company’s nonperforming loans increased $2.6 million to $30.2 million at March 31, 2014, compared to March 31, 2013 and decreased $0.6 million, compared to December 31, 2013.

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The Company had $1.3 and $3.6 million of other real estate owned as of March 31, 2014 and 2013 respectively, compared to $1.3 million as of December 31, 2013. Loans past due more than 90 days totaled $5.1 million as of March 31, 2014, compared to $5.8 million at March 31, 2013 and $3.2 million as of December 31, 2013.

A loan is generally placed on nonaccrual status when payments are past due 90 days or more and/or when management has considerable doubt about the borrower’s ability to repay on the terms originally contracted. The accrual of interest is discontinued and recorded thereafter only when actually received in cash.

Certain loans are restructured to provide a reduction or deferral of interest or principal due to deterioration in the financial condition of the respective borrowers. The Company had $12.1 million of restructured loans at March 31, 2014, $13.8 million at March 31, 2013 and $12.1 million at December 31, 2013.

Table 13 summarizes the various aspects of credit quality discussed above.

Table 13

LOAN QUALITY (dollars in thousands)

	March 31,						December 31,
	2014			2013			2013
Nonaccrual loans	$	18,423		$	14,520		$	19,305
Restructured loans		11,730			13,060			11,401
Total nonperforming loans		30,153			27,580			30,706
Other real estate owned		1,286			3,565			1,288
Total nonperforming assets	$	31,439		$	31,145		$	31,994
Loans past due 90 days or more	$	5,101		$	5,756		$	3,218
Restructured loans accruing		343			733			665
Allowance for Loan Losses		75,514			69,881			74,751
Ratios
Nonperforming loans as a % of loans		0.45	%		0.46	%		0.47	%
Nonperforming assets as a % of loans plus other real estate owned		0.47			0.52			0.49
Nonperforming assets as a % of total assets		0.20			0.20			0.19
Loans past due 90 days or more as a % of loans		0.08			0.10			0.05
Allowance for Loan Losses as a % of loans		1.12			1.16			1.15
Allowance for Loan Losses as a multiple of nonperforming loans		2.50x			2.53x			2.43x

Liquidity Risk

Liquidity represents the Company’s ability to meet financial commitments through the maturity and sale of existing assets or availability of additional funds. The most important factor in the preservation of liquidity is maintaining public confidence that facilitates the retention and growth of a large, stable supply of core deposits and wholesale funds. Ultimately, public confidence is generated through profitable operations, sound credit quality and a strong capital position. The primary source of liquidity for the Company is regularly scheduled payments and maturity of assets, which include $6.9 billion of high-quality securities available for sale and held to maturity. Securities available for sale and held to maturity with a market value of $5.4 billion at March 31, 2014 were pledged to secure U.S. Government deposits, other public deposits and certain trust deposits as required by law. Of this amount, securities with a market value of $1.6 billion at March 31, 2014 were pledged at the Federal Reserve Discount Window but were unencumbered as of those dates.

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The liquidity of the Company and the Bank is also enhanced by its activity in the federal funds market and by its core deposits. Neither the Company nor its subsidiaries are active in the debt market. The traditional funding source for the Company’s subsidiary banks has been core deposits. In 2013, the Company completed the issuance of 4.5 million shares of common stock with net proceeds of $231.4 million to be used for strategic growth purposes. Management believes it can raise debt or equity capital on favorable terms in the future, should the need arise.

The Company also has other commercial commitments that may impact liquidity. These commitments include unused commitments to extend credit, standby letters of credit and financial guarantees, and commercial letters of credit. The total amount of these commercial commitments at March 31, 2014 was $5.5 billion. Since many of these commitments expire without being drawn upon, the total amount of these commercial commitments does not necessarily represent the future cash requirements of the Company.

The Company’s cash requirements consist primarily of dividends to shareholders, debt service, operating expenses, and treasury stock purchases. Management fees and dividends received from bank and non-bank subsidiaries traditionally have been sufficient to satisfy these requirements and are expected to be sufficient in the future. The affiliate bank is subject to various rules regarding payment of dividends to the Company. For the most part, the bank can pay dividends at least equal to its current year’s earnings without seeking prior regulatory approval. The Company also uses cash to inject capital in its bank and non-bank subsidiaries to maintain adequate capital as well as fund strategic initiatives.

To enhance general working capital needs, the Company has a revolving line of credit with Wells Fargo, N.A. which allows the Company to borrow up to $25.0 million for general working capital purposes. The interest rate applied to borrowed balances will be at the Company’s option either 1.00 percent above LIBOR or 1.75 percent below Prime on the date of an advance. The Company will also pay a 0.2 percent unused commitment fee for unused portions of the line of credit. The Company had no advances outstanding at March 31, 2014.

Operational Risk

Operational risk generally refers to the risk of loss resulting from the Company’s operations, including those operations performed for the Company by third parties. This would include but is not limited to the risk of fraud by employees or persons outside the Company, the execution of unauthorized transactions by employees or others, errors relating to transaction processing, breaches of the internal control system and compliance requirements, and unplanned interruptions in service. This risk of loss also includes the potential legal or regulatory actions that could arise as a result of an operational deficiency, or as a result of noncompliance with applicable regulatory standards. Included in the legal and regulatory issues with which the Company must comply are a number of imposed rules resulting from the enactment of the Sarbanes-Oxley Act of 2002.

The Company operates in many markets and places reliance on the ability of its employees and systems to properly process a high number of transactions. In the event of a breakdown in the internal control systems, improper operation of systems or improper employee actions, the Company could suffer financial loss, face regulatory action and suffer damage to its reputation. In order to address this risk, management maintains a system of internal controls with the objective of providing proper transaction authorization and execution, safeguarding of assets from misuse or theft, and ensuring the reliability of financial and other data.

The Company maintains systems of controls that provide management with timely and accurate information about the Company’s operations. These systems have been designed to manage operational risk at appropriate levels given the Company’s financial strength, the environment in which it operates, and considering factors such as competition and regulation. The Company has also established procedures that are designed to ensure that policies relating to conduct, ethics and business practices are followed on a uniform basis. In certain cases, the Company has experienced losses from operational risk. Such losses have included the effects of operational errors that the Company has discovered and included as expense in the statement of income. While there can be no assurance that the Company will not suffer such losses in the future, management continually monitors and works to improve its internal controls, systems and corporate-wide processes and procedures.

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ITEM 4. CONTROLS AND PROCEDURES

The Sarbanes-Oxley Act of 2002 requires the Chief Executive Officer and the Chief Financial Officer to make certain certifications with respect to this report and to the Company’s disclosure controls and procedures and internal control over financial reporting. The Company has a Code of Ethics that expresses the values that drive employee behavior and maintains the Company’s commitment to the highest standards of ethics.

Disclosure Controls and Procedures

The Company’s management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Company’s “Disclosure Controls and Procedures” (as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”)) as of the end of the period covered by this report. Based on such evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of the period covered by the report, the Company’s disclosure controls and procedures are effective for ensuring the following criteria for the information the Company is required to report in its periodic SEC filings. SEC filings are recorded, processed, summarized, and reported within the time period required and that information required to be disclosed by the Company is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosures.

Internal Control Over Financial Reporting

There has been no change in the Company’s internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) during the three months ended March 31, 2014 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

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PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

In the normal course of business, the Company and its subsidiaries are named defendants in various legal proceedings. Except as stated below, in the opinion of management, after consultation with legal counsel, none of these lawsuits are expected to have a materially adverse effect on the financial position, results of operations, or cash flows of the Company.

On March 28, 2014, the Company received objections to its calculation of an earn-out amount owed to the sellers of PCM and a related incentive bonus calculation. The sellers, which include current employees of PCM, claim that a $16.6 million unrealized gain on equity method investments managed by PCM should have been included in the Company’s calculations, which are governed by the asset purchase agreement. The Company disputes this claim but desires to avoid future distractions to the operations of PCM. Based on the probability of future resolution, a $15.0 million contingency reserve was recorded during the first quarter of 2014.

ITEM 1A. RISK FACTORS

There were no material changes to the risk factors as previously disclosed in response to Item 1A to Part 1 of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The table below sets forth the information with respect to purchases made by or on behalf of the Company or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Exchange Act) of our common stock during the three months ended March 31, 2014.

ISSUER PURCHASE OF EQUITY SECURITIES

Period	(a) Total Number of Shares (or Units) Purchased		(b) Average Price Paid per Share (or Unit)		(c) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs		(d) Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs
January 1-January 31, 2014		16,830	$	64.86		16,830		1,941,050
February 1-February 29, 2014		28,171		58.58		28,171		1,921,879
March 1-March 31, 2014		1,969		63.74		1,969		1,910,910
Total		46,970	$	61.04		46,970

On April 23, 2013, the Company announced a plan to repurchase up to two million shares of common stock, which terminated on April 22, 2014. On April 22, 2014, the Company announced a plan to repurchase up to two million shares of common stock. This plan will terminate on April 21, 2015. The Company has not made any repurchases other than through this plan. All open market share purchases under the share repurchase plan are intended to be within the scope of Rule 10b-18 promulgated under the Exchange Act. Rule 10b-18 provides a safe harbor for purchases in a given day if the Company satisfies the manner, timing and volume conditions of the rule when purchasing its own common shares.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

53

ITEM 4. MINE SAFETY DISCLOSURES

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

a) The following exhibits are filed herewith:

i. 3.1 Articles of Incorporation restated as of April 25, 2006. Amended Article III was filed with the Missouri Secretary of State on May 18, 2006 and incorporated by reference to Exhibit 3.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2006 and filed with the Commission on May 9, 2006.

ii. Bylaws, amended and restated as of January 28, 2014 incorporated by reference to Exhibit 3 (ii).2 to the Company’s Current Report on Form 8-K and filed with the Commission on January 28, 2014.

iii. 4 Description of the Registrant’s common stock in Amendment No. 1 on Form 8, incorporated by reference to its General Form for Registration of Securities on Form 10 dated March 5, 1993.

iv. 31.1 CEO Certification pursuant to Section 302 of the Sarbanes-Oxley Act.

v. 31.2 CFO Certification pursuant to Section 302 of the Sarbanes-Oxley Act.

vi. 32.1 CEO Certification pursuant to Section 906 of the Sarbanes-Oxley Act.

vii. 32.2 CFO Certification pursuant to Section 906 of the Sarbanes-Oxley Act.

viii. 101.INS XBRL Instance

ix. 101.SCH XBRL Taxonomy Extension Schema

x. 101.CAL XBRL Taxonomy Extension Calculation

xi. 101.DEF XBRL Taxonomy Extension Definition

xii. 101.LAB XBRL Taxonomy Extension Labels

xiii. 101.PRE XBRL Taxonomy Extension Presentation

54

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

UMB FINANCIAL CORPORATION

/s/ Brian J. Walker

Brian J. Walker

Chief Financial Officer

Chief Accounting Officer

Date: May 1, 2014

55

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT

I, J. Mariner Kemper, certify that:

1. I have reviewed this report as of March 31, 2014 on Form 10-Q of UMB Financial Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 1, 2014

/s/ J. Mariner Kemper

J. Mariner Kemper

Chief Executive Officer

56

EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT

I, Brian J. Walker, certify that:

1. I have reviewed this report as of March 31, 2014 on Form 10-Q of UMB Financial Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 1, 2014

/s/ Brian J. Walker

Brian J. Walker

Chief Financial Officer

Chief Accounting Officer

57

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION

906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of UMB Financial Corporation (the “Company”) on Form 10-Q for the period ended March 31, 2014, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, J. Mariner Kemper, Chief Executive Officer of the Company, hereby certify, pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: May 1, 2014

/s/ J. Mariner Kemper

J. Mariner Kemper

Chief Executive Officer

A signed original of this written statement required by Section 906 has been provided to UMB Financial Corporation and will be retained by UMB Financial Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

58

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT TO SECTION

906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of UMB Financial Corporation (the “Company”) on Form 10-Q for the period ended March 31, 2014, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Brian J. Walker, Chief Financial Officer of the Company, hereby certify, pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: May 1, 2014

/s/ Brian J. Walker

Brian J. Walker

Chief Financial Officer

Chief Accounting Officer

A signed original of this written statement required by Section 906 has been provided to UMB Financial Corporation and will be retained by UMB Financial Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

59

XML

Securities - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Schedule of Trading Securities and Other Trading Assets [Line Items]
Proceeds from sales of securities available for sale	$ 77,583,000	$ 333,912,000
Gross realized gains from securities	1,500,000	5,900,000
Gross realized losses from securities	11,000	37,000
Sales of securities held to maturity	0	0
Unrealized gains on trading securities	300,000	200,000
Fair value of marketable securities	17,400,000		16,600,000
Fair value of non-marketable securities	6,300,000		4,700,000
Us Government and Other Public Deposit [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Pledged securities for deposits	5,400,000,000		5,900,000,000
Federal Reserve Discount Window [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Pledged securities for deposits	$ 1,600,000,000		$ 1,700,000,000

XML

Summary of Amount of Gain (Loss) Recognized in Other Non-Interest Expense in Consolidated Statements of Income Related to Derivative Asset and Liability (Detail) (Interest rate products [Member], USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Derivatives not Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments	$ (83)	$ 106
Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments	(10)
Designated as Hedging Instrument [Member] | Fair value adjustments on derivatives [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments	(119)
Designated as Hedging Instrument [Member] | Fair value adjustments on hedged items [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments	$ 109

XML

Notional Amount of Off-Balance Sheet Financial Instruments (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Commitments to Extend Credit for Loans (Excluding Credit Card Loans) [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	$ 2,793,554	$ 2,690,268
Commitments to Extend Credit Under Credit Card Loans [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	2,314,445	2,215,278
Commercial Letters of Credit [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	1,562	5,949
Standby Letters of Credit [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	387,889	356,054
Futures Contracts [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	4,500
Forward Foreign Exchange Contracts [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	16,802	21,525
Spot Foreign Exchange Contracts [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	$ 1,342	$ 8,001

XML

Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	$ 43,055	$ 28,464
Available for sale securities	6,734,931	6,762,411
Derivatives	3,378	2,518
Contingent consideration liability	44,700	46,201	49,442	51,163
Derivatives	3,408	2,346
Fair Value Measurement, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	43,055	28,464
Available for sale securities	6,734,931	6,762,411
Company-owned life insurance	20,058	19,619
Derivatives	3,378	2,518
Total	6,801,422	6,813,012
Deferred compensation	24,106	19,825
Contingent consideration liability	44,700	46,201
Derivatives	3,408	2,346
Total	72,214	68,372
Fair Value Measurement, Recurring [Member] | Trading - other [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	29,976	24,477
Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	400	400
Available for sale securities	251,790	110,200
Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities
Available for sale securities	1,019,625	1,257,663
Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	7,406	515
Available for sale securities	3,083,386	2,944,566
Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	5,273	3,072
Available for sale securities	1,957,572	1,995,246
Fair Value Measurement, Recurring [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale securities	422,558	454,736
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	30,379	24,877
Available for sale securities	674,348	564,936
Company-owned life insurance
Derivatives
Total	704,727	589,813
Deferred compensation	24,106	19,825
Contingent consideration liability
Derivatives
Total	24,106	19,825
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | Trading - other [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	29,979	24,477
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	400	400
Available for sale securities	251,790	110,200
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities
Available for sale securities
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities
Available for sale securities
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities
Available for sale securities
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale securities	422,558	454,736
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	12,676	3,587
Available for sale securities	6,060,583	6,197,475
Company-owned life insurance	20,058	19,619
Derivatives	3,378	2,518
Total	6,096,695	6,223,199
Deferred compensation
Contingent consideration liability
Derivatives	3,408	2,346
Total	3,408	2,346
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | Trading - other [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	(3)
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Treasury [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities
Available for sale securities
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities
Available for sale securities	1,019,625	1,257,663
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities	7,406	515
Available for sale securities	3,083,386	2,944,566
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
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Available for sale securities	1,957,572	1,995,246
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available for sale securities
Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities
Available for sale securities
Company-owned life insurance
Derivatives
Total
Deferred compensation
Contingent consideration liability	44,700	46,201
Derivatives
Total	44,700	46,201
Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member] | Trading - other [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
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Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities
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Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
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Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities
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Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Trading securities
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Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
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Aggregate Amortization Expense Recognized (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Goodwill And Intangible Assets Disclosure [Abstract]
Aggregate amortization expense	$ 3,102	$ 3,456

XML

Credit Risk Profile Based on Payment Activity (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	$ 6,759,089	$ 6,520,512	$ 6,010,681
Commercial - credit card [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	121,354	103,270
Commercial - credit card [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	121,329	103,232
Commercial - credit card [Member] | Non-performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	25	38
Real estate - residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	294,405	289,356
Real estate - residential [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	293,459	288,488
Real estate - residential [Member] | Non-performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	946	868
Real estate - Home Equity Line of Credit [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	570,429	566,128
Real estate - Home Equity Line of Credit [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	570,104	565,918
Real estate - Home Equity Line of Credit [Member] | Non-performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	325	210
Consumer - credit card [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	300,296	318,336
Consumer - credit card [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	299,427	317,305
Consumer - credit card [Member] | Non-performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	869	1,031
Consumer - other [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	61,693	62,912
Consumer - other [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	61,341	62,542
Consumer - other [Member] | Non-performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	352	370
Leases [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	24,053	23,981	19,901
Leases [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	24,053	23,981
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Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity

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Quantitative Information about Significant Unobservable Input used in Fair Value Measurement for Contingent Consideration Liability Measured at Fair Value on Recurring Basis (Detail) (Significant Unobservable Inputs (Level 3) [Member])	3 Months Ended
	Mar. 31, 2014
Minimum [Member]
Business Acquisition, Contingent Consideration [Line Items]
Revenue and expense growth percentage	1.00%
Maximum [Member]
Business Acquisition, Contingent Consideration [Line Items]
Revenue and expense growth percentage	78.00%

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Business Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Schedule of Segment Financial Results

Segment financial results were as follows (in thousands):

	Three Months Ended March 31, 2014
	Bank		Payment Solutions		Institutional Investment Management			Asset Servicing		Total
Net interest income	$	71,121	$	12,388	$	(2	)	$	1,938	$	85,445
Provision for loan losses		2,426		2,074		—			—		4,500
Noninterest income		47,420		20,235		34,095			21,214		122,964
Noninterest expense		107,753		21,015		25,894			17,579		172,241
Income before taxes		8,362		9,534		8,199			5,573		31,668
Income tax expense		1,942		2,609		2,184			1,520		8,255
Net income	$	6,420	$	6,925	$	6,015		$	4,053	$	23,413
Average assets	$	12,299,000	$	1,952,000	$	74,000		$	2,179,000	$	16,504,000

	Three Months Ended March 31, 2013
	Bank		Payment Solutions		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	67,260	$	11,548	$	—	$	675	$	79,483
Provision for loan losses		309		1,691		—		—		2,000
Noninterest income		52,748		19,437		28,552		20,279		121,016
Noninterest expense		91,536		20,117		18,845		19,880		150,378
Income before taxes		28,163		9,177		9,707		1,074		48,121
Income tax expense		7,705		2,534		2,667		274		13,180
Net income	$	20,458	$	6,643	$	7,040	$	800	$	34,941
Average assets	$	11,306,000	$	1,698,000	$	78,000	$	1,701,000	$	14,783,000

XML

Business Segment Reporting - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2014 Segment
Segment Reporting [Abstract]
Number of reportable segments	4

XML

Contractual Maturity Information for Securities Held to Maturity (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Investments Debt And Equity Securities [Abstract]
Due in 1 year or less, Amortized Cost	$ 61
Due after 1 year through 5 years, Amortized Cost	27,251
Due after 5 years through 10 years, Amortized Cost	98,703
Due after 10 years, Amortized Cost	93,709
Total securities held to maturity, Amortized Cost	219,724	209,770
Due in 1 year or less, Fair Value	66
Due after 1 year through 5 years, Fair Value	29,381
Due after 5 years through 10 years, Fair Value	106,418
Due after 10 years, Fair Value	101,033
Held to Maturity, Fair value	$ 236,898	$ 231,510

XML

Securities Available for Sale (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	$ 6,756,241	$ 6,814,712
Securities available for sale, Gross Unrealized Gains	50,230	51,414
Securities available for sale, Gross Unrealized Losses	(71,540)	(103,715)
Total securities available for sale, Fair Value	6,734,931	6,762,411
U.S. Treasury [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	252,195	110,789
Securities available for sale, Gross Unrealized Gains	320	284
Securities available for sale, Gross Unrealized Losses	(725)	(873)
Total securities available for sale, Fair Value	251,790	110,200
U.S. Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	1,019,869	1,258,176
Securities available for sale, Gross Unrealized Gains	1,797	2,793
Securities available for sale, Gross Unrealized Losses	(2,041)	(3,306)
Total securities available for sale, Fair Value	1,019,625	1,257,663
Mortgage-backed [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	3,108,155	2,984,963
Securities available for sale, Gross Unrealized Gains	23,477	23,942
Securities available for sale, Gross Unrealized Losses	(48,246)	(64,339)
Total securities available for sale, Fair Value	3,083,386	2,944,566
State and political subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	1,951,916	2,003,509
Securities available for sale, Gross Unrealized Gains	24,097	23,493
Securities available for sale, Gross Unrealized Losses	(18,441)	(31,756)
Total securities available for sale, Fair Value	1,957,572	1,995,246
Corporates [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	424,106	457,275
Securities available for sale, Gross Unrealized Gains	539	902
Securities available for sale, Gross Unrealized Losses	(2,087)	(3,441)
Total securities available for sale, Fair Value	$ 422,558	$ 454,736

XML

Summary of Fair Value of Derivative Assets and Liabilities (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair value	$ 3,378	$ 2,518
Liability Derivatives, Fair value	3,408	2,346
Derivatives not Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair value	3,378	2,442
Liability Derivatives, Fair value	3,365	2,346
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair value		76
Liability Derivatives, Fair value	$ 43

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Estimated Amortization Expense of Intangible Assets (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]
For the nine months ending December 31, 2014	$ 9,044
For the year ending December 31, 2015	9,550
For the year ending December 31, 2016	8,342
For the year ending December 31, 2017	7,098
For the year ending December 31, 2018	$ 4,908

XML

Financial Statement Presentation

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Financial Statement Presentation

1. Financial Statement Presentation

The condensed consolidated financial statements include the accounts of UMB Financial Corporation and its subsidiaries (collectively, the “Company”) after elimination of all intercompany transactions. In the opinion of management of the Company, all adjustments, which were of a normal recurring nature and necessary for a fair presentation of the financial position and results of operations, have been made. The results of operations and cash flows for the interim periods presented may not be indicative of the results of the full year. The financial statements should be read in conjunction with Management’s Discussion and Analysis of Financial Condition and Results of Operations within this Form 10-Q filing and in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

XML

Schedule of Federal Reserve Bank Stock and Other Securities (Detail) (Federal Reserve Bank Stock and Other Securities [Member], USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Schedule of Other Securities [Line Items]
Amortized Cost	$ 34,706	$ 33,438
Gross Unrealized Gains	19,845	17,044
Gross Unrealized Losses
Fair Value	54,551	50,482
Other securities - non-marketable [Member]
Schedule of Other Securities [Line Items]
Amortized Cost	18,427	17,139
Gross Unrealized Gains	2,460	432
Gross Unrealized Losses
Fair Value	20,887	17,571
Other securities - marketable [Member]
Schedule of Other Securities [Line Items]
Amortized Cost		20
Gross Unrealized Gains	17,385	16,612
Gross Unrealized Losses
Fair Value	17,385	16,632
Federal Reserve Bank Stock [Member]
Schedule of Other Securities [Line Items]
Amortized Cost	16,279	16,279
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value	$ 16,279	$ 16,279

XML

Summary of Cash and Cash Equivalents (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Accounting Policies [Abstract]
Due from the Federal Reserve	$ 684,947		$ 1,608,279
Cash and due from banks	593,956	521,001	319,535
Cash and cash equivalents at end of period	$ 1,278,903	$ 2,582,428	$ 1,927,814	$ 1,366,394

XML

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Accounting Policies [Abstract]
Due from certificates of deposit	$ 82.9	$ 22.9
Dilutive effect of common stock issuable upon exercise of options, shares	640,622	418,210
Anti-dilutive shares	258,254	280,611

XML

Reconciliation of Beginning and Ending Fair Value of Balances of Contingent Consideration Liability (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Fair Value Disclosures [Abstract]
Beginning Balance	$ 46,201	$ 51,163
Payment of contingent considerations on acquisitions	(5,975)	(4,899)
Income from fair value adjustments		(138)
Expense from fair value adjustments	4,474	3,316
Ending Balance	$ 44,700	$ 49,442

XML

Changes in Carrying Amount of Goodwill (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Goodwill And Other Intangible Assets [Line Items]
Beginning Balance	$ 209,758	$ 209,758	$ 209,758
Ending Balance	209,758	209,758	209,758
Bank [Member]
Goodwill And Other Intangible Assets [Line Items]
Beginning Balance	142,753	142,753	142,753
Ending Balance	142,753	142,753	142,753
Institutional Investment Management [Member]
Goodwill And Other Intangible Assets [Line Items]
Beginning Balance	47,529	47,529	47,529
Ending Balance	47,529	47,529	47,529
Asset Servicing [Member]
Goodwill And Other Intangible Assets [Line Items]
Beginning Balance	19,476	19,476	19,476
Ending Balance	$ 19,476	$ 19,476	$ 19,476

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Summary of Loan Classes and Aging of Past Due Loans (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due and Accruing	$ 15,862	$ 13,360
Greater than 90 Days Past Due and Accruing	5,101	3,218
Non- Accrual Loans	30,153	30,706
Total Past Due	51,116	47,284
Current	6,707,973	6,473,228
Total Loans	6,759,089	6,520,512	6,010,681
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due and Accruing	3,478	2,107
Greater than 90 Days Past Due and Accruing	2,023	135
Non- Accrual Loans	8,611	8,042
Total Past Due	14,112	10,284
Current	3,475,917	3,291,219
Total Loans	3,490,029	3,301,503
Commercial - credit card [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due and Accruing	368	362
Greater than 90 Days Past Due and Accruing	126	82
Non- Accrual Loans	25	38
Total Past Due	519	482
Current	120,835	102,788
Total Loans	121,354	103,270
Real estate - construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due and Accruing	768	186
Greater than 90 Days Past Due and Accruing
Non- Accrual Loans	921	934
Total Past Due	1,689	1,120
Current	184,271	151,755
Total Loans	185,960	152,875
Real estate - commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due and Accruing	2,660	3,611
Greater than 90 Days Past Due and Accruing		344
Non- Accrual Loans	18,104	19,213
Total Past Due	20,764	23,168
Current	1,690,106	1,678,983
Total Loans	1,710,870	1,702,151
Real estate - residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due and Accruing	1,114	1,257
Greater than 90 Days Past Due and Accruing		13
Non- Accrual Loans	946	868
Total Past Due	2,060	2,138
Current	292,345	287,218
Total Loans	294,405	289,356
Real estate - Home Equity Line of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due and Accruing	1,983	880
Greater than 90 Days Past Due and Accruing		6
Non- Accrual Loans	325	210
Total Past Due	2,308	1,096
Current	568,121	565,032
Total Loans	570,429	566,128
Consumer - credit card [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due and Accruing	2,391	3,230
Greater than 90 Days Past Due and Accruing	2,853	2,448
Non- Accrual Loans	869	1,031
Total Past Due	6,113	6,709
Current	294,183	311,627
Total Loans	300,296	318,336
Consumer - other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due and Accruing	2,943	1,727
Greater than 90 Days Past Due and Accruing	99	190
Non- Accrual Loans	352	370
Total Past Due	3,394	2,287
Current	58,299	60,625
Total Loans	61,693	62,912
Leases [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
30-89 Days Past Due and Accruing	157
Greater than 90 Days Past Due and Accruing
Non- Accrual Loans
Total Past Due	157
Current	23,896	23,981
Total Loans	$ 24,053	$ 23,981	$ 19,901

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Loans and Allowance for Loan Losses - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Receivables [Abstract]
Proceeds from sales of loans held for sale	$ 11,983,000	$ 37,326,000
Non-accrual loans	30,153,000		30,706,000
Restructured loans	12,100,000		12,100,000
Loans 90 days past due and accruing	5,101,000		3,218,000
Commitments to lend to borrowers with loan modifications classified as TDR's	$ 279,000

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Operating Activities
Net income	$ 23,413	$ 34,941
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	4,500	2,000
Depreciation and amortization	11,344	10,969
Deferred income tax benefit	(2,822)	(2,591)
Net increase in trading securities and other earning assets	(17,121)	(16,824)
Gains on sales of securities available for sale	(1,470)	(5,893)
(Gains) losses on sales of assets	(550)	303
Amortization of securities premiums, net of discount accretion	13,276	13,433
Originations of loans held for sale	(11,545)	(39,543)
Net gains on sales of loans held for sale	(189)	(211)
Proceeds from sales of loans held for sale	11,983	37,326
Issuance of equity awards	469	449
Equity based compensation	2,212	1,913
Changes in:
Accrued income (expense)	2,832	(761)
Accrued expenses and taxes	(28,557)	(11,956)
Other assets and liabilities, net	(25,719)	11,790
Net cash (used in) provided by operating activities	(17,944)	35,345
Investing Activities
Proceeds from maturities of securities held to maturity	4,500	7,996
Proceeds from sales of securities available for sale	77,583	333,912
Proceeds from maturities of securities available for sale	516,001	514,720
Purchases of securities held to maturity	(16,600)	(22,734)
Purchases of securities available for sale	(544,487)	(805,695)
Net increase in loans	(242,279)	(327,354)
Net (increase) decrease in fed funds sold and resell agreements	(21,968)	70,822
Net increase in interest bearing balances due from other financial institutions	(53,471)	(1,004)
Purchases of bank premises and equipment	(6,926)	(8,011)
Net cash received from acquisitions		(692)
Proceeds from sales of bank premises and equipment	1,153	808
Net cash used in investing activities	(286,494)	(237,232)
Financing Activities
Net (increase) decrease in demand and savings deposits	(1,140,073)	1,121,789
Net decrease in time deposits	(234,922)	(215,696)
Net decrease (increase) in fed funds purchased and repurchase agreements	390,518	(127,927)
Net decrease in short-term debt	(107)	(99)
Proceeds from long-term debt	1,820
Repayment of long-term debt	(1,060)	(972)
Payment of contingent consideration on acquisitions	(5,975)	(4,899)
Cash dividends paid	(10,201)	(8,526)
Net tax benefit related to equity compensation plans	1,068	332
Proceeds from exercise of stock options and sales of treasury shares	2,712	961
Purchases of treasury stock	(2,867)	(1,656)
Net cash (used in) provided by financing activities	(999,087)	763,307
(Decrease) increase in cash and due from banks	(1,303,525)	561,420
Cash and cash equivalents at beginning of period	2,582,428	1,366,394
Cash and cash equivalents at end of period	1,278,903	1,927,814
Supplemental Disclosures:
Income taxes paid	16,053	9,302
Total interest paid	$ 3,720	$ 4,608

XML

Credit Risk Profile by Risk Rating (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	$ 6,759,089	$ 6,520,512	$ 6,010,681
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	3,490,029	3,301,503
Commercial [Member] | Non-watch list [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	3,229,699	3,041,224
Commercial [Member] | Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	107,824	110,932
Commercial [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	74,830	78,064
Commercial [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	77,676	71,283
Real estate - construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	185,960	152,875
Real estate - construction [Member] | Non-watch list [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	183,855	151,359
Real estate - construction [Member] | Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	801	210
Real estate - construction [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating
Real estate - construction [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	1,304	1,306
Real estate - commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	1,710,870	1,702,151
Real estate - commercial [Member] | Non-watch list [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	1,565,623	1,565,894
Real estate - commercial [Member] | Watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	79,620	76,647
Real estate - commercial [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	19,644	19,876
Real estate - commercial [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	$ 45,983	$ 39,734

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Gross Unrealized Losses and Fair Value of Investment Securities Available for Sale (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	$ 3,228,573	$ 3,595,354
Less than 12 months, Unrealized Losses	(59,518)	(92,244)
12 months or more, Fair Value	313,751	227,554
12 months or more, Unrealized Losses	(12,022)	(11,471)
Total Fair Value	3,542,324	3,822,908
Total Unrealized Losses	(71,540)	(103,715)
U.S. Treasury [Member]
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	103,744	39,822
Less than 12 months, Unrealized Losses	(725)	(873)
12 months or more, Fair Value
12 months or more, Unrealized Losses
Total Fair Value	103,744	39,822
Total Unrealized Losses	(725)	(873)
U.S. Agencies [Member]
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	504,992	675,509
Less than 12 months, Unrealized Losses	(1,612)	(3,130)
12 months or more, Fair Value	33,680	9,824
12 months or more, Unrealized Losses	(429)	(176)
Total Fair Value	538,672	685,333
Total Unrealized Losses	(2,041)	(3,306)
Mortgage-backed [Member]
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	1,824,634	1,945,964
Less than 12 months, Unrealized Losses	(42,933)	(60,719)
12 months or more, Fair Value	127,158	89,147
12 months or more, Unrealized Losses	(5,313)	(3,620)
Total Fair Value	1,951,792	2,035,111
Total Unrealized Losses	(48,246)	(64,339)
State and political subdivisions [Member]
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	600,148	662,225
Less than 12 months, Unrealized Losses	(12,825)	(25,064)
12 months or more, Fair Value	109,243	87,061
12 months or more, Unrealized Losses	(5,616)	(6,692)
Total Fair Value	709,391	749,286
Total Unrealized Losses	(18,441)	(31,756)
Corporates [Member]
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	195,055	271,834
Less than 12 months, Unrealized Losses	(1,423)	(2,458)
12 months or more, Fair Value	43,670	41,522
12 months or more, Unrealized Losses	(664)	(983)
Total Fair Value	238,725	313,356
Total Unrealized Losses	$ (2,087)	$ (3,441)

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Derivatives and Hedging Activities - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2014 Derivative	Mar. 31, 2013
Derivative [Line Items]
Net loss in interest expense related to hedge ineffectiveness	$ (10,000)
Termination value of derivatives in net liability position	200,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount of interest rate swaps	6,800,000
Number of interest rate swaps	1
Interest Rate Swap [Member] | Derivatives not Designated as Hedging Instruments [Member]
Derivative [Line Items]
Notional amount of interest rate swaps	333,500,000
Number of interest rate swaps	26
Derivatives designated and not designated as hedging instruments	$ (83,000)	$ 106,000

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CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
ASSETS
Loans:	$ 6,759,089	$ 6,520,512
Allowance for loan losses	(75,514)	(74,751)
Net loans	6,683,575	6,445,761
Loans held for sale	1,108	1,357
Investment Securities:
Available for sale	6,734,931	6,762,411
Held to maturity (market value of $236,898 and $231,510, respectively)	219,724	209,770
Trading securities	43,055	28,464
Federal Reserve Bank stock and other	54,551	50,482
Total investment securities	7,052,261	7,051,127
Federal funds sold and securities purchased under agreements to resell	108,986	87,018
Interest-bearing due from banks	770,458	2,093,467
Cash and due from banks	593,956	521,001
Bank premises and equipment, net	247,770	249,689
Accrued income	75,384	78,216
Goodwill	209,758	209,758
Other intangibles	52,483	55,585
Other assets	150,091	118,873
Total assets	15,945,830	16,911,852
Deposits:
Noninterest-bearing demand	5,303,067	5,189,998
Interest-bearing demand and savings	5,747,984	7,001,126
Time deposits under $100,000	458,484	491,792
Time deposits of $100,000 or more	756,236	957,850
Total deposits	12,265,771	13,640,766
Federal funds purchased and repurchase agreements	1,973,736	1,583,218
Short-term debt		107
Long-term debt	5,815	5,055
Accrued expenses and taxes	118,918	153,450
Other liabilities	39,392	23,191
Total liabilities	14,403,632	15,405,787
SHAREHOLDERS' EQUITY
Common stock, $1.00 par value; 80,000,000 shares authorized, 55,056,730 shares issued, and 45,433,101 and 45,221,237 shares outstanding, respectively	55,057	55,057
Capital surplus	883,195	882,407
Retained earnings	897,826	884,630
Accumulated other comprehensive loss	(13,297)	(32,640)
Treasury stock, 9,623,629 and 9,835,493 shares, at cost, respectively	(280,583)	(283,389)
Total shareholders' equity	1,542,198	1,506,065
Total liabilities and shareholders' equity	$ 15,945,830	$ 16,911,852

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Changes in Finite-Lived Intangible Assets (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 143,704	$ 143,704
Accumulated Amortization	91,221	88,119
Net Carrying Amount	52,483	55,585
Core deposit intangible assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	36,497	36,497
Accumulated Amortization	31,946	31,674
Net Carrying Amount	4,551	4,823
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	103,960	103,960
Accumulated Amortization	56,835	54,062
Net Carrying Amount	47,125	49,898
Other intangible assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,247	3,247
Accumulated Amortization	2,440	2,383
Net Carrying Amount	$ 807	$ 864

XML

STATEMENTS OF CHANGES IN CONSOLIDATED SHAREHOLDERS' EQUITY (Unaudited) (USD $) In Thousands	Total	Common Stock	Capital Surplus	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning Balance at Dec. 31, 2012	$ 1,279,345	$ 55,057	$ 732,069	$ 787,015	$ 85,588	$ (380,384)
Total comprehensive income	12,925			34,941	(22,016)
Cash dividends	(8,711)			(8,711)
Purchase of treasury stock	(1,656)					(1,656)
Issuance of equity awards	449		(2,592)			3,041
Recognition of equity based compensation	1,913		1,913
Net tax benefit related to equity compensation plans	332		332
Sale of treasury stock	66		42			24
Exercise of stock options	895		445			450
Ending Balance at Mar. 31, 2013	1,285,558	55,057	732,209	813,245	63,572	(378,525)
Beginning Balance at Dec. 31, 2013	1,506,065	55,057	882,407	884,630	(32,640)	(283,389)
Total comprehensive income	42,756			23,413	19,343
Cash dividends	(10,217)			(10,217)
Purchase of treasury stock	(2,867)					(2,867)
Issuance of equity awards	469		(3,648)			4,117
Recognition of equity based compensation	2,212		2,212
Net tax benefit related to equity compensation plans	1,068		1,068
Sale of treasury stock	220		143			77
Exercise of stock options	2,492		1,013			1,479
Ending Balance at Mar. 31, 2014	$ 1,542,198	$ 55,057	$ 883,195	$ 897,826	$ (13,297)	$ (280,583)

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Estimated Fair Value of Financial Instruments (Detail) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity	$ 219,724,000	$ 209,770,000
Federal Reserve Bank and others	54,551,000	50,482,000
Loans (exclusive of allowance for loan loss)	6,760,200,000	6,521,900,000
Time deposits	1,214,700,000	1,449,600,000
Long-term debt	5,815,000	5,055,000
Total Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity	236,900,000	231,500,000
Federal Reserve Bank and others	54,600,000	50,500,000
Loans (exclusive of allowance for loan loss)	6,799,600,000	6,571,600,000
Time deposits	1,212,900,000	1,449,400,000
Long-term debt	6,000,000	4,500,000
Commitments to extend credit for loans	1,500,000	6,000,000
Commercial letters of credit	100,000	100,000
Standby letters of credit	500,000	2,000,000
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity
Federal Reserve Bank and others
Loans (exclusive of allowance for loan loss)
Time deposits
Long-term debt
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity	236,900,000	231,500,000
Federal Reserve Bank and others	54,600,000	50,500,000
Loans (exclusive of allowance for loan loss)	6,799,600,000	6,571,600,000
Time deposits	1,212,900,000	1,449,400,000
Long-term debt	6,000,000	4,500,000
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities held to maturity
Federal Reserve Bank and others
Loans (exclusive of allowance for loan loss)
Time deposits
Long-term debt

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Analysis of Impaired Loans by Class (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	$ 34,671	$ 34,650
Recorded Investment with No Allowance	7,715	10,441
Recorded Investment with Allowance	21,561	19,748
Total Recorded Investment	29,276	30,189
Related Allowance	4,260	4,252	3,515
Average Recorded Investment	29,733	27,639
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	17,684	17,227
Recorded Investment with No Allowance	2,855	3,228
Recorded Investment with Allowance	11,864	11,407
Total Recorded Investment	14,719	14,635
Related Allowance	2,541	2,882
Average Recorded Investment	14,678	14,791
Commercial - credit card [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance
Recorded Investment with No Allowance
Recorded Investment with Allowance
Total Recorded Investment
Related Allowance
Average Recorded Investment
Real estate - construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	1,403	1,408
Recorded Investment with No Allowance	798	810
Recorded Investment with Allowance	123	123
Total Recorded Investment	921	933
Related Allowance	98
Average Recorded Investment	927	1,186
Real estate - commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	14,360	14,686
Recorded Investment with No Allowance	3,052	5,305
Recorded Investment with Allowance	9,574	8,218
Total Recorded Investment	12,626	13,523
Related Allowance	1,621	94
Average Recorded Investment	13,074	10,506
Real estate - residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	1,221	1,317
Recorded Investment with No Allowance	1,008	1,087
Recorded Investment with Allowance
Total Recorded Investment	1,008	1,087
Related Allowance		1,276
Average Recorded Investment	1,048	1,122
Real estate - Home Equity Line of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance
Recorded Investment with No Allowance
Recorded Investment with Allowance
Total Recorded Investment
Related Allowance
Average Recorded Investment
Consumer - credit card [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance
Recorded Investment with No Allowance
Recorded Investment with Allowance
Total Recorded Investment
Related Allowance
Average Recorded Investment
Consumer - other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	3	12
Recorded Investment with No Allowance	2	11
Recorded Investment with Allowance
Total Recorded Investment	2	11
Related Allowance
Average Recorded Investment	6	34
Leases [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance
Recorded Investment with No Allowance
Recorded Investment with Allowance
Total Recorded Investment
Related Allowance
Average Recorded Investment

XML

Securities (Tables)

3 Months Ended

Mar. 31, 2014

Securities Available for Sale

This table provides detailed information about securities available for sale at March 31, 2014 and December 31, 2013 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
March 31, 2014	Cost		Gains		Losses			Value
U.S. Treasury	$	252,195	$	320	$	(725	)	$	251,790
U.S. Agencies		1,019,869		1,797		(2,041	)		1,019,625
Mortgage-backed		3,108,155		23,477		(48,246	)		3,083,386
State and political subdivisions		1,951,916		24,097		(18,441	)		1,957,572
Corporates		424,106		539		(2,087	)		422,558
Total	$	6,756,241	$	50,230	$	(71,540	)	$	6,734,931
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
December 31, 2013	Cost		Gains		Losses			Value
U.S. Treasury	$	110,789	$	284	$	(873	)	$	110,200
U.S. Agencies		1,258,176		2,793		(3,306	)		1,257,663
Mortgage-backed		2,984,963		23,942		(64,339	)		2,944,566
State and political subdivisions		2,003,509		23,493		(31,756	)		1,995,246
Corporates		457,275		902		(3,441	)		454,736
Total	$	6,814,712	$	51,414	$	(103,715	)	$	6,762,411

Gross Unrealized Losses and Fair Value of Investment Securities Available for Sale

The following table shows the Company’s available for sale investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2014 and December 31, 2013 (in thousands).

March 31, 2014	Less than 12 months					12 months or more					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury	$	103,744	$	(725	)	$	—	$	—		$	103,744	$	(725	)
U.S. Agencies		504,992		(1,612	)		33,680		(429	)		538,672		(2,041	)
Mortgage-backed		1,824,634		(42,933	)		127,158		(5,313	)		1,951,792		(48,246	)
State and political subdivisions		600,148		(12,825	)		109,243		(5,616	)		709,391		(18,441	)
Corporates		195,055		(1,423	)		43,670		(664	)		238,725		(2,087	)
Total temporarily - impaired debt securities available for sale	$	3,228,573	$	(59,518	)	$	313,751	$	(12,022	)	$	3,542,324	$	(71,540	)

December 31, 2013	Less than 12 months					12 months or more					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury	$	39,822	$	(873	)	$	—	$	—		$	39,822	$	(873	)
U.S. Agencies		675,509		(3,130	)		9,824		(176	)		685,333		(3,306	)
Mortgage-backed		1,945,964		(60,719	)		89,147		(3,620	)		2,035,111		(64,339	)
State and political subdivisions		662,225		(25,064	)		87,061		(6,692	)		749,286		(31,756	)
Corporates		271,834		(2,458	)		41,522		(983	)		313,356		(3,441	)
Total temporarily - impaired debt securities available for sale	$	3,595,354	$	(92,244	)	$	227,554	$	(11,471	)	$	3,822,908	$	(103,715	)

Securities Held to Maturity

The table below provides detailed information for securities held to maturity at March 31, 2014 and December 31, 2013 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
March 31, 2014	Cost		Gains		Losses		Value
State and political subdivisions	$	219,724	$	17,174	$	—	$	236,898
December 31, 2013
State and political subdivisions	$	209,770	$	21,740	$	—	$	231,510

Schedule of Federal Reserve Bank Stock and Other Securities

The table below provides detailed information for Federal Reserve Bank stock and other securities at March 31, 2014 and December 31, 2013(in thousands):

			Gross		Gross
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
March 31, 2014
Federal Reserve Bank stock	$	16,279	$	—	$	—	$	16,279
Other securities – marketable		—		17,385		—		17,385
Other securities – non-marketable		18,427		2,460		—		20,887
Total Federal Reserve Bank stock and other	$	34,706	$	19,845	$	—	$	54,551
December 31, 2013
Federal Reserve Bank stock	$	16,279	$	—	$	—	$	16,279
Other securities – marketable		20		16,612		—		16,632
Other securities – non-marketable		17,139		432		—		17,571
Total Federal Reserve Bank stock and other	$	33,438	$	17,044	$	—	$	50,482

Available-for-sale Securities [Member]

Contractual Maturity Information

The following table presents contractual maturity information for securities available for sale at March 31, 2014 (in thousands):

	Amortized Cost		Fair Value
Due in 1 year or less	$	469,340	$	471,680
Due after 1 year through 5 years		2,303,020		2,314,245
Due after 5 years through 10 years		729,845		726,462
Due after 10 years		145,881		139,158
Total		3,648,086		3,651,545
Mortgage-backed securities		3,108,155		3,083,386
Total securities available for sale	$	6,756,241	$	6,734,931

Held-to-maturity Securities [Member]

Contractual Maturity Information

The following table presents contractual maturity information for securities held to maturity at March 31, 2014 (in thousands):

	Amortized Cost		Fair Value
Due in 1 year or less	$	61	$	66
Due after 1 year through 5 years		27,251		29,381
Due after 5 years through 10 years		98,703		106,418
Due after 10 years		93,709		101,033
Total securities held to maturity	$	219,724	$	236,898

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Troubled Debt Restructurings by Class (Detail) (Troubled Debt Restructuring [Member], USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014 Contract	Mar. 31, 2013 Contract
Financing Receivable, Modifications [Line Items]
Number of Contracts	1	2
Pre-Modification Outstanding Recorded Investment	$ 469	$ 1,408
Post-Modification Outstanding Recorded Investment	469	1,407
Commercial [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts	1
Pre-Modification Outstanding Recorded Investment	469
Post-Modification Outstanding Recorded Investment	469
Commercial - credit card [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts
Pre-Modification Outstanding Recorded Investment
Post-Modification Outstanding Recorded Investment
Real estate - construction [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts
Pre-Modification Outstanding Recorded Investment
Post-Modification Outstanding Recorded Investment
Real estate - commercial [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts		2
Pre-Modification Outstanding Recorded Investment		1,408
Post-Modification Outstanding Recorded Investment		1,407
Real estate - residential [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts
Pre-Modification Outstanding Recorded Investment
Post-Modification Outstanding Recorded Investment
Real estate - Home Equity Line of Credit [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts
Pre-Modification Outstanding Recorded Investment
Post-Modification Outstanding Recorded Investment
Consumer - credit card [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts
Pre-Modification Outstanding Recorded Investment
Post-Modification Outstanding Recorded Investment
Consumer - other [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts
Pre-Modification Outstanding Recorded Investment
Post-Modification Outstanding Recorded Investment
Leases [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts
Pre-Modification Outstanding Recorded Investment
Post-Modification Outstanding Recorded Investment

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Commitments, Contingencies and Guarantees (Tables)

3 Months Ended

Mar. 31, 2014

Commitments And Contingencies Disclosure [Abstract]

Notional Amount of Off-Balance Sheet Financial Instruments

The following table summarizes the Company’s off-balance sheet financial instruments.

Contract or Notional Amount (in thousands):

	March 31,		December 31,
	2014		2013
Commitments to extend credit for loans (excluding credit card loans)	$	2,793,554	$	2,690,268
Commitments to extend credit under credit card loans		2,314,445		2,215,278
Commercial letters of credit		1,562		5,949
Standby letters of credit		387,889		356,054
Futures contracts		4,500		—
Forward foreign exchange contracts		16,802		21,525
Spot foreign exchange contracts		1,342		8,001

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STATEMENTS OF CHANGES IN CONSOLIDATED SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Statement Of Stockholders Equity [Abstract]
Cash Dividends, per share	$ 0.225	$ 0.215

XML

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Statement Of Financial Position [Abstract]
Held to maturity, market value	$ 236,898	$ 231,510
Common stock, par value	$ 1.00	$ 1.00
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	55,056,730	55,056,730
Common stock, shares outstanding	45,433,101	45,221,237
Treasury stock, shares	9,623,629	9,835,493

XML

Derivatives and Hedging Activities

3 Months Ended

Mar. 31, 2014

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivatives and Hedging Activities

9. Derivatives and Hedging Activities

Risk Management Objective of Using Derivatives

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to certain fixed rate assets. The Company also has interest rate derivatives that result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk of the Company’s assets or liabilities. The Company has entered into an offsetting position for each of these derivative instruments with a matching instrument from another financial institution in order to minimize its net risk exposure resulting from such transactions.

Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the fair value of the Company’s derivative financial instruments as of March 31, 2014 and December 31, 2013. The Company’s derivative asset and derivative liability are located within Other assets and Other liabilities, respectively, on the Company’s Consolidated Balance Sheet.

This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of March 31, 2014 and December 31, 2013 (in thousands):

	Asset Derivatives				Liability Derivatives
Fair value	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Interest Rate Products:
Derivatives not designated as hedging instruments	$	3,378	$	2,442	$	3,365	$	2,346
Derivatives designated as hedging instruments		—		76		43		—
Total	$	3,378	$	2,518	$	3,408	$	2,346

Fair Value Hedges of Interest Rate Risk

The Company is exposed to changes in the fair value of certain of its fixed-rate assets due to changes in the benchmark interest rate, LIBOR. Interest rate swaps designated as fair value hedges involve making fixed-rate payments to a counterparty in exchange for the Company receiving variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. As of March 31, 2014, the Company had one interest rate swap with a notional amount of $6.8 million that was designated as a fair value hedge of interest rate risk associated with the Company’s fixed rate loan assets.

Designated Hedges

For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in earnings. The Company includes the gain or loss on the hedged items in the same line item as the offsetting loss or gain on the related derivatives. During the three months ended March 31, 2014, the Company recognized a net loss of $10 thousand in other noninterest expense related to hedge ineffectiveness.

Non-designated Hedges

The remainder of the Company’s derivatives are not designated in qualifying hedging relationships. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously offset by interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. As of March 31, 2014, the Company had 26 interest rate swaps with an aggregate notional amount of $333.5 million related to this program. During the three months ended March 31, 2014 and 2013, the Company recognized net losses of $83 thousand and net gains of $106 thousand, respectively, related to changes in the fair value of these swaps.

Effect of Derivative Instruments on the Income Statement

This table provides a summary of the amount of gain (loss) recognized in other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative asset and liability as of March 31, 2014 and March 31, 2013 (in thousands):

	Amount of Gain (Loss) Recognized
	For the Year Ended
	March 31,
	2014			2013
Interest Rate Products
Derivatives not designated as hedging instruments	$	(83	)	$	106
Total	$	(83	)	$	106
Interest Rate Products
Derivatives designated as hedging instruments
Fair value adjustments on derivatives	$	(119	)	$	—
Fair value adjustments on hedged items		109			—
Total	$	(10	)	$	—

Credit-risk-related Contingent Features

The Company has agreements with certain of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations.

As of March 31, 2014 the termination value of derivatives in a net liability position, which includes accrued interest, related to these agreements was $0.2 million. The Company has minimum collateral posting thresholds with certain of its derivative counterparties and has not yet reached its minimum collateral posting threshold under these agreements. If the Company had breached any of these provisions at March 31, 2014, it could have been required to settle its obligations under the agreements at the termination value.

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Document and Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 25, 2014
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1
Trading Symbol	UMBF
Entity Registrant Name	UMB FINANCIAL CORP
Entity Central Index Key	0000101382
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		45,438,349

XML

Fair Value Measurements

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

10. Fair Value Measurements

The following table presents information about the Company’s assets measured at fair value on a recurring basis as of March 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value.

Fair values determined by Level 1 inputs utilize quoted prices in active markets for identical assets and liabilities that the Company has the ability to access. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the hierarchy. In such cases, the fair value is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013 (in thousands):

	Fair Value Measurement As of March 31, 2014
Description	March 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets
U.S. Treasury	$	400	$	400	$	—		$	—
U.S. Agencies		—		—		—			—
Mortgage-backed		7,406		—		7,406			—
State and political subdivisions		5,273		—		5,273			—
Trading – other		29,976		29,979		(3	)		—
Trading securities		43,055		30,379		12,676			—
U.S. Treasury		251,790		251,790		—			—
U.S. Agencies		1,019,625		—		1,019,625			—
Mortgage-backed		3,083,386		—		3,083,386			—
State and political subdivisions		1,957,572		—		1,957,572			—
Corporates		422,558		422,558		—			—
Available for sale securities		6,734,931		674,348		6,060,583			—
Company-owned life insurance		20,058		—		20,058			—
Derivatives		3,378		—		3,378			—
Total	$	6,801,422	$	704,727	$	6,096,695		$	—
Liabilities
Deferred compensation	$	24,106	$	24,106	$	—		$	—
Contingent consideration liability		44,700		—		—			44,700
Derivatives		3,408		—		3,408			—
Total	$	72,214	$	24,106	$	3,408		$	44,700

	Fair Value Measurement as of December 31, 2013
Description	December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
U.S. Treasury	$	400	$	400	$	—	$	—
U.S. Agencies		—		—		—		—
Mortgage-backed		515		—		515		—
State and political subdivisions		3,072		—		3,072		—
Trading – other		24,477		24,477		—		—
Trading securities		28,464		24,877		3,587		—
U.S. Treasury		110,200		110,200		—		—
U.S. Agencies		1,257,663		—		1,257,663		—
Mortgage-backed		2,944,566		—		2,944,566		—
State and political subdivisions		1,995,246		—		1,995,246		—
Corporates		454,736		454,736		—		—
Available for sale securities		6,762,411		564,936		6,197,475		—
Company-owned life insurance		19,619		—		19,619		—
Derivatives		2,518		—		2,518		—
Total	$	6,813,012	$	589,813	$	6,223,199	$	—
Liabilities
Deferred compensation		19,825	$	19,825	$	—	$	—
Contingent consideration liability		46,201		—		—		46,201
Derivatives		2,346		—		2,346		—
Total	$	68,372	$	19,825	$	2,346	$	46,201

The following table reconciles the beginning and ending fair value of balances of the contingent consideration liability:

	Three Months Ended March 31,
	2014			2013
Beginning Balance	$	46,201		$	51,163
Payment of contingent considerations on acquisitions		(5,975	)		(4,899	)
Income from fair value adjustments		—			(138	)
Expense from fair value adjustments		4,474			3,316
Ending Balance	$	44,700		$	49,442

The following table presents certain quantitative information about the significant unobservable input used in the fair value measurement for the contingent consideration liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

Description	Valuation Techniques	Significant Unobservable Inputs	Range
Liabilities
Contingent consideration liability	Discounted cash flows	Revenue and expense growth percentage	1% - 78%

An increase in the revenue growth percentage may result in a significantly higher estimated fair value of the contingent consideration liability. Alternatively, a decrease in the revenue growth percentage may result in a significantly lower estimated fair value of the contingent consideration liability.

Valuation methods for instruments measured at fair value on a recurring basis

The following methods and assumptions were used to estimate the fair value of each class of financial instruments measured on a recurring basis:

Securities Available for Sale and Investment Securities Fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities.

Trading Securities Fair values for trading securities (including financial futures), are based on quoted market prices where available. If quoted market prices are not available, fair values are based on quoted market prices for similar securities.

Company-owned Life Insurance Fair values are based on quoted market prices or dealer quotes with adjustments for dividends, capital gains, and administrative charges.

Derivatives Fair values are determined using valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees.

Deferred Compensation Fair values are based on quoted market prices or dealer quotes.

Contingent Consideration The fair value of contingent consideration liabilities are derived from a discounted cash flow model of future contingent payments. The valuation of these liabilities are estimated by a collaborative effort of the Company’s mergers and acquisitions group, business unit management, and the corporate accounting group. These groups report primarily to the Company’s Chief Financial Officer. These future contingent payments are calculated based on estimates of future income and expense from each acquisition. These estimated cash flows are projected by the business unit management and reviewed by the mergers and acquisitions group. To obtain a current valuation of these projected cash flows, an expected present value technique is utilized to calculate a discount rate. The cash flow projections and discount rates are reviewed quarterly and updated as market conditions necessitate. Potential valuation adjustments are made as future income and expense projections for each acquisition are made which affect the calculation of the related contingent consideration payment. These adjustments are recorded through noninterest income and expense.

Assets measured at fair value on a non-recurring basis as of March 31, 2014 and December 31, 2013 (in thousands):

	Fair Value Measurement at March 31, 2014 Using
Description	March 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses) Recognized During the Three Months Ended March 31
Impaired loans	$	17,301	$	—	$	—	$	17,301	$	(8	)
Other real estate owned		35		—		—		35	$	—
Total	$	17,336	$	—	$	—	$	17,336	$	(8	)

	Fair Value Measurement at December 31, 2013 Using
Description	December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses) Recognized During the Twelve Months Ended December 31
Impaired loans	$	15,496	$	—	$	—	$	15,496	$	(2,496	)
Other real estate owned		329		—		—		329		(125	)
Total	$	15,825	$	—	$	—	$	15,825	$	(2,621	)

Valuation methods for instruments measured at fair value on a nonrecurring basis

The following methods and assumptions were used to estimate the fair value of each class of financial instruments measured on a non-recurring basis:

Impaired loans While the overall loan portfolio is not carried at fair value, adjustments are recorded on certain loans to reflect partial write-downs that are based on the value of the underlying collateral. In determining the value of real estate collateral, the Director of Property Management, who reports to the Chief Administrative Officer, obtains external appraisals. The external appraisals are generally based on recent sales of comparable properties which are then adjusted for the unique characteristics of the property being valued. Upon receiving the external appraisal, the Company’s appraisal department led by the Chief Appraiser who reports to the Chief Credit Officer review the appraisal to determine if the appraisal is a reasonable basis for the value of the property based upon historical experience and detailed knowledge of the specific property and location. In the case of non-real estate collateral, reliance is placed on a variety of sources, including external estimates of value and judgments based on the experience and expertise of internal specialists within the Company’s property management group and the Company’s credit department. The valuation of the impaired loans is reviewed on a quarterly basis. Because many of these inputs are not observable, the measurements are classified as Level 3.

Other real estate owned Other real estate owned consists of loan collateral which has been repossessed through foreclosure. This collateral is comprised of commercial and residential real estate and other non-real estate property, including auto, recreational and marine vehicles. Other real estate owned is recorded as held for sale initially at the lower of the loan balance or fair value of the collateral. The initial valuation of the foreclosed property is obtained through an appraisal process similar to the process described in the impaired loans paragraph above. Subsequent to foreclosure, valuations are reviewed quarterly and updated periodically, and the assets may be marked down further, reflecting a new cost basis. Fair value measurements may be based upon appraisals or third-party price opinions and, accordingly, those measurements may be classified as Level 2. Other fair value measurements may be based on internally developed pricing methods, and those measurements may be classified as Level 3.

Fair value disclosures require disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The estimated fair value of the Company’s financial instruments at March, 31, 2014 and December 31, 2013 are as follows (in millions):

	Fair Value Measurement at March 31, 2014 Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Estimated Fair Value
FINANCIAL ASSETS
Securities held to maturity	$	219.7	$	—	$	236.9	$	—	$	236.9
Federal Reserve Bank and other		54.6		—		54.6		—		54.6
Loans (exclusive of allowance for loan loss)		6,760.2		—		6,799.6		—		6,799.6
FINANCIAL LIABILITIES
Time deposits		1,214.7		—		1,212.9		—		1,212.9
Long-term debt		5.8		—		6.0		—		6.0
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										1.5
Commercial letters of credit										0.1
Standby letters of credit										0.5

	Fair Value Measurement at December 31, 2013 Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Estimated Fair Value
FINANCIAL ASSETS
Securities held to maturity	$	209.8	$	—	$	231.5	$	—	$	231.5
Federal Reserve Bank and other s		50.5		—		50.5		—		50.5
Loans (exclusive of allowance for loan loss)		6,521.9		—		6,571.6		—		6,571.6
FINANCIAL LIABILITIES
Time deposits		1,449.6		—		1,449.4		—		1,449.4
Long-term debt		5.1		—		4.5		—		4.5
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										6.0
Commercial letters of credit										0.1
Standby letters of credit										2.0

The fair values of cash and short-term investments, demand and savings deposits, federal funds and repurchase agreements, and short-term debt approximate the carrying values.

Securities Held to Maturity Fair value of held-to-maturity securities are estimated by discounting the future cash flows using the current rates at which similar investments would be made to borrowers with similar credit ratings and for the same remaining maturities.

Federal Reserve Bank and Other Amount consists of Federal Reserve Bank stock held by the Bank, Prairie Capital Management equity-method investments, and other miscellaneous investments. The fair value of Federal Reserve Bank stock is considered to be the carrying value as no readily determinable market exists for these investments because they can only be redeemed with the FRB. The fair value of Prairie Capital Management marketable equity-method investments are based on quoted market prices used to estimate the value of the underlying investment. For non-marketable equity-method investments, the Company’s proportionate share of the income or loss is recognized on a one-quarter lag based on the valuation of the underlying investment(s).

Loans Fair values are estimated for portfolios with similar financial characteristics. Loans are segregated by type, such as commercial, real estate, consumer, and credit card. Each loan category is further segmented into fixed and variable interest rate categories. The fair value of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities.

Time Deposits The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using the rates that are currently offered for deposits of similar remaining maturities.

Long-Term Debt Rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate fair value of existing debt.

Other Off-Balance Sheet Instruments The fair value of loan commitments and letters of credit are determined based on the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreement and the present creditworthiness of the counterparties. Neither the fees earned during the year on these instruments nor their fair value at year-end are significant to the Company’s consolidated financial position.

The fair value estimates presented herein are based on pertinent information available to management as of March 31, 2014 and December 31, 2013. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purposes of these consolidated financial statements since those dates and, therefore, current estimates of fair value may differ significantly from the amount presented herein.

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
INTEREST INCOME
Loans	$ 58,900	$ 54,720
Securities:
Taxable interest	18,961	18,465
Tax-exempt interest	9,907	9,760
Total securities income	28,868	28,225
Federal funds and resell agreements	33	24
Interest-bearing due from banks	1,123	669
Trading securities	123	264
Total interest income	89,047	83,902
INTEREST EXPENSE
Deposits	3,059	3,792
Federal funds purchased and repurchase agreements	481	567
Other	62	60
Total interest expense	3,602	4,419
Net interest income	85,445	79,483
Provision for loan losses	4,500	2,000
Net interest income after provision for loan losses	80,945	77,483
NONINTEREST INCOME
Trust and securities processing	71,563	62,312
Trading and investment banking	4,323	7,109
Service charges on deposit accounts	21,558	21,523
Insurance fees and commissions	603	961
Brokerage fees	1,815	2,946
Bankcard fees	15,623	16,439
Gain on sales of securities available for sale, net	1,470	5,893
Equity earnings on alternative investments	2,530
Other	3,479	3,833
Total noninterest income	122,964	121,016
NONINTEREST EXPENSE
Salaries and employee benefits	88,881	83,702
Occupancy, net	9,705	9,887
Equipment	12,663	11,934
Supplies and services	4,637	4,487
Marketing and business development	4,602	4,272
Processing fees	13,651	14,090
Legal and consulting	3,372	3,600
Bankcard	3,688	4,547
Amortization of other intangible assets	3,102	3,456
Regulatory fees	2,516	1,911
Contingency reserve (Note 7)	15,000
Other	10,424	8,492
Total noninterest expense	172,241	150,378
Income before income taxes	31,668	48,121
Income tax expense	8,255	13,180
NET INCOME	$ 23,413	$ 34,941
PER SHARE DATA
Net income - basic	$ 0.52	$ 0.88
Net income - diluted	$ 0.52	$ 0.87
Dividends	$ 0.225	$ 0.215
Weighted average shares outstanding	44,742,068	39,881,505

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Loans and Allowance for Loan Losses

3 Months Ended

Mar. 31, 2014

Receivables [Abstract]

Loans and Allowance for Loan Losses

4. Loans and Allowance for Loan Losses

Loan Origination/Risk Management

The Company has certain lending policies and procedures in place that are designed to minimize the level of risk within the loan portfolio. Diversification of the loan portfolio manages the risk associated with fluctuations in economic conditions. The Company maintains an independent loan review department that reviews and validates the risk assessment on a continual basis. Management regularly evaluates the results of the loan reviews. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures.

Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Commercial loans are made based on the identified cash flows of the borrower and on the underlying collateral provided by the borrower. The cash flows of the borrower, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts from its customers. Commercial credit cards are generally unsecured and are underwritten with criteria similar to commercial loans including an analysis of the borrower’s cash flow, available business capital, and overall credit-worthiness of the borrower.

Commercial real estate loans are subject to underwriting standards and processes similar to commercial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. The Company requires an appraisal of the collateral be made at origination and on an as-needed basis, in conformity with current market conditions and regulatory requirements. The underwriting standards address both owner and non-owner occupied real estate.

Construction loans are underwritten using feasibility studies, independent appraisal reviews, sensitivity analysis or absorption and lease rates and financial analysis of the developers and property owners. Construction loans are based upon estimates of costs and value associated with the complete project. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term borrowers, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their repayment being sensitive to interest rate changes, governmental regulation of real property, economic conditions, and the availability of long-term financing.

Underwriting standards for residential real estate and home equity loans are based on the borrower’s loan-to-value percentage, collection remedies, ability to repay, and overall credit history.

Consumer loans are underwritten based on the borrower’s repayment ability. The Company monitors delinquencies on all of its consumer loans and leases and periodically reviews the distribution of FICO scores relative to historical periods to monitor credit risk on its credit card loans. The underwriting and review practices combined with the relatively small loan amounts that are spread across many individual borrowers, minimizes risk. Consumer loans and leases that are 90 days past due or more are considered non-performing.

This table provides a summary of loan classes and an aging of past due loans at March 31, 2014 and December 31, 2013 (in thousands):

	March 31, 2014
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non-Accrual Loans		Total Past Due		Current		Total Loans
Commercial:
Commercial	$	3,478	$	2,023	$	8,611	$	14,112	$	3,475,917	$	3,490,029
Commercial – credit card		368		126		25		519		120,835		121,354
Real estate:
Real estate – construction		768		—		921		1,689		184,271		185,960
Real estate – commercial		2,660		—		18,104		20,764		1,690,106		1,710,870
Real estate – residential		1,114		—		946		2,060		292,345		294,405
Real estate – HELOC		1,983		—		325		2,308		568,121		570,429
Consumer:
Consumer – credit card		2,391		2,853		869		6,113		294,183		300,296
Consumer – other		2,943		99		352		3,394		58,299		61,693
Leases		157		—		—		157		23,896		24,053
Total loans	$	15,862	$	5,101	$	30,153	$	51,116	$	6,707,973	$	6,759,089

	December 31, 2013
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non-Accrual Loans		Total Past Due		Current		Total Loans
Commercial:
Commercial	$	2,107	$	135	$	8,042	$	10,284	$	3,291,219	$	3,301,503
Commercial – credit card		362		82		38		482		102,788		103,270
Real estate:
Real estate – construction		186		—		934		1,120		151,755		152,875
Real estate – commercial		3,611		344		19,213		23,168		1,678,983		1,702,151
Real estate – residential		1,257		13		868		2,138		287,218		289,356
Real estate – HELOC		880		6		210		1,096		565,032		566,128
Consumer:
Consumer – credit card		3,230		2,448		1,031		6,709		311,627		318,336
Consumer – other		1,727		190		370		2,287		60,625		62,912
Leases		—		—		—		—		23,981		23,981
Total loans	$	13,360	$	3,218	$	30,706	$	47,284	$	6,473,228	$	6,520,512

The Company sold $12.0 million and $37.3 million of residential real estate and student loans in the secondary market without recourse during the periods ended March 31, 2014 and March 31, 2013, respectively.

The Company has ceased the recognition of interest on loans with a carrying value of $30.2 million and $30.7 million at March 31, 2014 and December 31, 2013, respectively. Restructured loans totaled $12.1 million at March 31, 2014 and December 31, 2013. Loans 90 days past due and still accruing interest amounted to $5.1 million and $3.2 million at March 31, 2014 and December 31, 2013, respectively. There was an insignificant amount of interest recognized on impaired loans during 2014 and 2013.

Credit Quality Indicators

As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to the risk grading of specified classes of loans, net charge-offs, non-performing loans, and general economic conditions.

The Company utilizes a risk grading matrix to assign a rating to each of its commercial, commercial real estate, and construction real estate loans. The loan rankings are summarized into the following categories: Non-watch list, Watch, Special Mention, and Substandard. Any loan not classified in one of the categories described below is considered to be a Non-watch list loan. The loans in any of the three categories below are considered to be a criticized loan. A description of the general characteristics of the loan ranking categories is as follows:

• Watch – This rating represents credit exposure that presents higher than average risk and warrants greater than routine attention by Company personnel due to conditions affecting the borrower, the borrower’s industry or the economic environment. These conditions have resulted in some degree of uncertainty that results in higher than average credit risk.

• Special Mention – This rating reflects a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or the institution’s credit position at some future date. The rating is not adversely classified and does not expose an institution to sufficient risk to warrant adverse classification.

• Substandard – This rating represents an asset inadequately protected by the financial worth and paying capacity of the borrower or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Loans in this category are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual assets classified substandard. This category may include loans where the collection of full principal and interest is doubtful or remote.

All other classes of loans are generally evaluated and monitored based on payment activity. Non-performing loans include restructured loans on non-accrual and all other non-accrual loans.

This table provides an analysis of the credit risk profile of each loan class at March 31, 2014 and December 31, 2013 (in thousands):

Credit Exposure

Credit Risk Profile by Risk Rating

	Commercial				Real estate - construction
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Non-watch list	$	3,229,699	$	3,041,224	$	183,855	$	151,359
Watch		107,824		110,932		801		210
Special Mention		74,830		78,064		—		—
Substandard		77,676		71,283		1,304		1,306
Total	$	3,490,029	$	3,301,503	$	185,960	$	152,875

	Real estate - commercial
	March 31, 2014		December 31, 2013
Non-watch list	$	1,565,623	$	1,565,894
Watch		79,620		76,647
Special Mention		19,644		19,876
Substandard		45,983		39,734
Total	$	1,710,870	$	1,702,151

Credit Exposure

Credit Risk Profile Based on Payment Activity

	Commercial - credit card				Real estate - residential
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Performing	$	121,329	$	103,232	$	293,459	$	288,488
Non-performing		25		38		946		868
Total	$	121,354	$	103,270	$	294,405	$	289,356
	Real estate - HELOC				Consumer - credit card
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Performing	$	570,104	$	565,918	$	299,427	$	317,305
Non-performing		325		210		869		1,031
Total	$	570,429	$	566,128	$	300,296	$	318,336
	Consumer - other				Leases
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Performing	$	61,341	$	62,542	$	24,053	$	23,981
Non-performing		352		370		—		—
Total	$	61,693	$	62,912	$	24,053	$	23,981

Allowance for Loan Losses

The allowance for loan losses is a reserve established through a provision for loan losses charged to expense, which represents management’s judgment of inherent probable losses within the Company’s loan portfolio as of the balance sheet date. The allowance is necessary to reserve for estimated loan losses and risks inherent in the loan portfolio. Accordingly, the methodology is based on historical loss trends. The Company’s process for determining the appropriate level of the allowance for loan losses is designed to account for credit deterioration as it occurs. The provision for probable loan losses reflects loan quality trends, including the levels of and trends related to non-accrual loans, past due loans, potential problem loans, criticized loans and net charge-offs or recoveries, among other factors.

The level of the allowance reflects management’s continuing evaluation of industry concentrations, specific credit risks, loan loss experience, current loan portfolio quality, present economic, political and regulatory conditions and estimated losses inherent in the current loan portfolio. Portions of the allowance may be allocated for specific loans; however, the entire allowance is available for any loan that, in management’s judgment, should be charged off. While management utilizes its best judgment and information available, the adequacy of the allowance is dependent upon a variety of factors beyond the Company’s control, including, among other things, the performance of the Company’s loan portfolio, the economy, changes in interest rates and changes in the regulatory environment.

The Company’s allowance for loan losses consists of specific valuation allowances and general valuation allowances based on historical loan loss experience for similar loans with similar characteristics and trends, general economic conditions and other qualitative risk factors both internal and external to the Company.

The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of impaired loans. Loans are classified based on an internal risk grading process that evaluates the obligor’s ability to repay, the underlying collateral, if any, and the economic environment and industry in which the borrower operates. When a loan is considered impaired, the loan is analyzed to determine the need, if any, to specifically allocate a portion of the allowance for loan losses to the loan. Specific valuation allowances are determined by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies, the relative risk ranking of the loan and economic conditions affecting the borrower’s industry.

General valuation allowances are calculated based on the historical loss experience of specific types of loans including an evaluation of the time span and volume of the actual charge-off. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool. The historical loss ratios are updated based on actual charge-off experience. A valuation allowance is established for each pool of similar loans based upon the product of the historical loss ratio, time span to charge-off, and the total dollar amount of the loans in the pool. The Company’s pools of similar loans include similarly risk-graded groups of commercial loans, commercial real estate loans, commercial credit card, home equity loans, consumer real estate loans and consumer and other loans. The Company also considers a loan migration analysis for criticized loans. This analysis includes an assessment of the probability that a loan will move to a loss position based on its risk rating. The consumer credit card pool is evaluated based on delinquencies and credit scores. In addition, a portion of the allowance is determined by a review of qualitative factors by Management.

ALLOWANCE FOR LOAN LOSSES AND RECORDED INVESTMENT IN LOANS

This table provides a rollforward of the allowance for loan losses by portfolio segment for three months ended March 31, 2014 (in thousands):

	Three Months Ended March 31, 2014
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	48,886		$	15,342		$	10,447		$	76	$	74,751
Charge-offs		(1,471	)		(126	)		(3,088	)		—		(4,685	)
Recoveries		67			9			872			—		948
Provision		881			866			2,753			—		4,500
Ending Balance	$	48,363		$	16,091		$	10,984		$	76	$	75,514
Ending Balance: individually evaluated for impairment	$	2,541		$	1,719		$	—		$	—	$	4,260
Ending Balance: collectively evaluated for impairment		45,822			14,372			10,984			76		71,254
Loans:
Ending Balance: loans	$	3,611,383		$	2,761,664		$	361,989		$	24,053	$	6,759,089
Ending Balance: individually evaluated for impairment		14,719			14,555			2			—		29,276
Ending Balance: collectively evaluated for impairment		3,596,664			2,747,109			361,987			24,053		6,729,813

ALLOWANCE FOR LOAN LOSSES AND RECORDED INVESTMENT IN LOANS (in thousands)

This table provides a rollforward of the allowance for loan losses by portfolio segment for three months ended March 31, 2013 (in thousands):

	Three Months Ended March 31, 2013
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	43,390		$	15,506		$	12,470		$	60	$	71,426
Charge-offs		(1,397	)		(195	)		(3,257	)		—		(4,849	)
Recoveries		374			9			921			—		1,304
Provision		978			(374	)		1,395			1		2,000
Ending Balance	$	43,345		$	14,946		$	11,529		$	61	$	69,881
Ending Balance: individually evaluated for impairment	$	3,206		$	309		$	—		$	—	$	3,515
Ending Balance: collectively evaluated for impairment		40,139			14,637			11,529			61		66,366
Loans:
Ending Balance: loans	$	3,305,175		$	2,320,388		$	365,217		$	19,901	$	6,010,681
Ending Balance: individually evaluated for impairment		15,974			10,140			46			—		26,160
Ending Balance: collectively evaluated for impairment		3,289,201			2,310,248			365,171			19,901		5,984,521

Impaired Loans

This table provides an analysis of impaired loans by class at March 31, 2014 and December 31, 2013 (in thousands):

	Three Months Ended March 31, 2014
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	17,684	$	2,855	$	11,864	$	14,719	$	2,541	$	14,678
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		1,403		798		123		921		98		927
Real estate – commercial		14,360		3,052		9,574		12,626		1,621		13,074
Real estate – residential		1,221		1,008		—		1,008		—		1,048
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		3		2		—		2		—		6
Leases		—		—		—		—		—		—
Total	$	34,671	$	7,715	$	21,561	$	29,276	$	4,260	$	29,733

	Year Ended December 31, 2013
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	17,227	$	3,228	$	11,407	$	14,635	$	2,882	$	14,791
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		1,408		810		123		933		—		1,186
Real estate – commercial		14,686		5,305		8,218		13,523		94		10,506
Real estate – residential		1,317		1,087		—		1,087		1,276		1,122
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		12		11		—		11		—		34
Leases		—		—		—		—		—		—
Total	$	34,650	$	10,441	$	19,748	$	30,189	$	4,252	$	27,639

Troubled Debt Restructurings

A loan modification is considered a troubled debt restructuring (TDR) when a concession had been granted to a debtor experiencing financial difficulties. The Company’s modifications generally include interest rate adjustments, principal reductions, and amortization and maturity date extensions. These modifications allow the debtor short-term cash relief to allow them to improve their financial condition. The Company’s restructured loans are individually evaluated for impairment and evaluated as part of the allowance for loan loss as described above in the Allowance for Loan Losses section of this note.

The Company had $279 thousand in commitments to lend to borrowers with loan modifications classified as TDR’s. The Company made no TDR’s in the last 12 months that had payment defaults for the three month period ended March 31, 2014.

This table provides a summary of loans restructured by class during the three months ended March 31, 2014 and 2013 (in thousands):

	Three Months Ended March 31, 2014						Three Months Ended March 31, 2013
	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Troubled Debt Restructurings
Commercial:
Commercial		1	$	469	$	469		—	$	—	$	—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—		—		—
Real estate – commercial		—		—		—		2		1,408		1,407
Real estate – residential		—		—		—		—		—		—
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		—		—		—		—		—		—
Leases		—		—		—		—		—		—
Total		1	$	469	$	469		2	$	1,408	$	1,407

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New Accounting Pronouncements

3 Months Ended

Mar. 31, 2014

Accounting Changes And Error Corrections [Abstract]

New Accounting Pronouncements

3. New Accounting Pronouncements

Investment Companies In June 2013, the FASB issued ASU No. 2013-08, “Amendments to the Scope, Measurement, and Disclosure Requirements” for investment companies. The amendments changed the assessment of whether an entity is an investment company by requiring an entity to possess certain fundamental characteristics, while allowing judgment in assessing other typical characteristics. The ASU was effective January 1, 2014, and the Company did not change the status of any subsidiary, or the accounting applied to a subsidiary, under the new guidelines.

Accounting for Investments in Qualified Affordable Housing Projects In January 2014, the FASB issued ASU No. 2014-01, “Accounting for Investments in Qualified Affordable Housing Projects.” The amendments permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Regardless of whether the reporting entity chooses to elect the proportional amortization method, this ASU introduces new recurring disclosures about all investments in qualified affordable housing projects. The ASU is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this accounting pronouncement will not have a significant impact on the Company’s financial statements or financial statement disclosures.

Reclassification of Residential Real Estate Loans In January 2014, the FASB issued ASU No. 2014-04, “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure.” The amendment is intended to reduce diversity in practice by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loans such that the loan receivable should be derecognized and the real stated property recognized. The amendments in this update are effective for interim and annual periods beginning after December 15, 2014. The adoption of this accounting pronouncement will not have a significant impact on the Company’s financial statements.

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Goodwill and Other Intangibles (Tables)

3 Months Ended

Mar. 31, 2014

Goodwill And Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the periods ended March 31, 2014 and December 31, 2013 by reportable segment are as follows (in thousands):

	Bank		Institutional Investment Management		Asset Servicing		Total
Balances as of January 1, 2013	$	142,753	$	47,529	$	19,476	$	209,758
Balances as of December 31, 2013	$	142,753	$	47,529	$	19,476	$	209,758
Balances as of January 1, 2014	$	142,753	$	47,529	$	19,476	$	209,758
Balances as of March 31, 2014	$	142,753	$	47,529	$	19,476	$	209,758

Changes in Finite-Lived Intangible Assets

Following are the finite-lived intangible assets that continue to be subject to amortization as of March 31, 2014 and December 31, 2013 (in thousands):

	As of March 31, 2014
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	36,497	$	31,946	$	4,551
Customer relationships		103,960		56,835		47,125
Other intangible assets		3,247		2,440		807
Total intangible assets	$	143,704	$	91,221	$	52,483
	As of December 31, 2013
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	36,497	$	31,674	$	4,823
Customer relationships		103,960		54,062		49,898
Other intangible assets		3,247		2,383		864
Total intangible assets	$	143,704	$	88,119	$	55,585

Aggregate Amortization Expense Recognized

Following is the aggregate amortization expense recognized in each period (in thousands):

	Three Months Ended March 31,
	2014		2013
Aggregate amortization expense	$	3,102	$	3,456

Estimated Amortization Expense of Intangible Assets

Estimated amortization expense of intangible assets on future years (in thousands):

For the nine months ending December 31, 2014	$	9,044
For the year ending December 31, 2015		9,550
For the year ending December 31, 2016		8,342
For the year ending December 31, 2017		7,098
For the year ending December 31, 2018		4,908

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Nature of Operations

The Company is a financial holding company, which offers a wide range of banking and other financial services to its customers through its branches and offices in the states of Missouri, Kansas, Colorado, Illinois, Oklahoma, Texas, Arizona, Nebraska, Pennsylvania, South Dakota, Indiana, Utah, and Wisconsin. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions also impact reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. A summary of the significant accounting policies to assist the reader in understanding the financial presentation is listed in the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

Interest-bearing Due From Banks

Interest-bearing Due From Banks

Amounts due from the Federal Reserve Bank which are interest-bearing for all periods presented, and amounts due from certificates of deposits issued by other financial institutions are included in interest-bearing due from banks. The amounts due from certificates of deposit totaled $82.9 million and $22.9 million at March 31, 2014 and March 31, 2013, respectively.

This table provides a summary of cash and cash equivalents as presented on the Consolidated Statement of Cash Flows as of March 31, 2014 and March 31, 2013 (in thousands):

	March 31,
	2014		2013
Due from the Federal Reserve	$	684,947	$	1,608,279
Cash and due from banks		593,956		319,535
Cash and cash equivalents at end of period	$	1,278,903	$	1,927,814

Per Share Data

Per Share Data

Basic income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted income per share includes the dilutive effect of 640,622 and 418,210 shares issuable upon the exercise of stock options granted by the Company at March 31, 2014 and 2013, respectively.

Options issued under employee benefit plans to purchase 258,254 and 280,611 shares of common stock were outstanding at March 31, 2014 and 2013, respectively, but were not included in the computation of diluted EPS because the options were anti-dilutive.

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Commitments, Contingencies and Guarantees

3 Months Ended

Mar. 31, 2014

Commitments And Contingencies Disclosure [Abstract]

Commitments, Contingencies and Guarantees

7. Commitments, Contingencies and Guarantees

In the normal course of business, the Company is party to financial instruments with off-balance-sheet risk in order to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit, commercial letters of credit, standby letters of credit, futures contracts, forward foreign exchange contracts and spot foreign exchange contracts. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheet. The contract or notional amount of those instruments reflects the extent of involvement the Company has in particular classes of financial instruments. Many of the commitments expire without being drawn upon, therefore, the total amount of these commitments does not necessarily represent the future cash requirements of the Company.

The Company’s exposure to credit loss in the event of nonperformance by the counterparty to the financial instruments for commitments to extend credit, commercial letters of credit, and standby letters of credit is represented by the contract or notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments.

The following table summarizes the Company’s off-balance sheet financial instruments.

Contract or Notional Amount (in thousands):

	March 31,		December 31,
	2014		2013
Commitments to extend credit for loans (excluding credit card loans)	$	2,793,554	$	2,690,268
Commitments to extend credit under credit card loans		2,314,445		2,215,278
Commercial letters of credit		1,562		5,949
Standby letters of credit		387,889		356,054
Futures contracts		4,500		—
Forward foreign exchange contracts		16,802		21,525
Spot foreign exchange contracts		1,342		8,001

On March 28, 2014, the Company received objections to its calculation of an earn-out amount owed to the sellers of Prairie Capital Management, LLC (PCM) and a related incentive bonus calculation. The sellers, which include current employees of PCM, claim that a $16.6 million unrealized gain on equity method investments managed by PCM should have been included in the Company’s calculations, which are governed by the asset purchase agreement. The Company disputes this claim but desires to avoid future distractions to the operations of PCM. Based on the probability of future resolution, a $15.0 million contingency reserve was recorded during the first quarter of 2014. This contingency reserve is included in the Other liabilities line on the Company’s consolidated balance sheet and the Contingency reserve line on Company’s consolidated statements of income.

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Securities

3 Months Ended

Mar. 31, 2014

Investments Debt And Equity Securities [Abstract]

Securities

5. Securities

Securities Available for Sale

This table provides detailed information about securities available for sale at March 31, 2014 and December 31, 2013 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
March 31, 2014	Cost		Gains		Losses			Value
U.S. Treasury	$	252,195	$	320	$	(725	)	$	251,790
U.S. Agencies		1,019,869		1,797		(2,041	)		1,019,625
Mortgage-backed		3,108,155		23,477		(48,246	)		3,083,386
State and political subdivisions		1,951,916		24,097		(18,441	)		1,957,572
Corporates		424,106		539		(2,087	)		422,558
Total	$	6,756,241	$	50,230	$	(71,540	)	$	6,734,931
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
December 31, 2013	Cost		Gains		Losses			Value
U.S. Treasury	$	110,789	$	284	$	(873	)	$	110,200
U.S. Agencies		1,258,176		2,793		(3,306	)		1,257,663
Mortgage-backed		2,984,963		23,942		(64,339	)		2,944,566
State and political subdivisions		2,003,509		23,493		(31,756	)		1,995,246
Corporates		457,275		902		(3,441	)		454,736
Total	$	6,814,712	$	51,414	$	(103,715	)	$	6,762,411

The following table presents contractual maturity information for securities available for sale at March 31, 2014 (in thousands):

	Amortized Cost		Fair Value
Due in 1 year or less	$	469,340	$	471,680
Due after 1 year through 5 years		2,303,020		2,314,245
Due after 5 years through 10 years		729,845		726,462
Due after 10 years		145,881		139,158
Total		3,648,086		3,651,545
Mortgage-backed securities		3,108,155		3,083,386
Total securities available for sale	$	6,756,241	$	6,734,931

Securities may be disposed of before contractual maturities due to sales by the Company or because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

For the three months ended March 31, 2014, proceeds from the sales of securities available for sale were $77.6 million compared to $333.9 million for the same period in 2013. Securities transactions resulted in gross realized gains of $1.5 million and $5.9 million for the three months ended March 31, 2014 and 2013. The gross realized losses for the three months ended March 31, 2014 and 2013 were $11 thousand and $37 thousand, respectively.

Securities available for sale and held to maturity with a market value of $5.4 billion at March 31, 2014 and $5.9 billion at December 31, 2013 were pledged to secure U.S. Government deposits, other public deposits and certain trust deposits as required by law. Of this amount, securities with a market value of $1.6 billion at March 31, 2014 and $1.7 billion at December 31, 2013 were pledged at the Federal Reserve Discount Window but were unencumbered as of those dates.

The following table shows the Company’s available for sale investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2014 and December 31, 2013 (in thousands).

March 31, 2014	Less than 12 months					12 months or more					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury	$	103,744	$	(725	)	$	—	$	—		$	103,744	$	(725	)
U.S. Agencies		504,992		(1,612	)		33,680		(429	)		538,672		(2,041	)
Mortgage-backed		1,824,634		(42,933	)		127,158		(5,313	)		1,951,792		(48,246	)
State and political subdivisions		600,148		(12,825	)		109,243		(5,616	)		709,391		(18,441	)
Corporates		195,055		(1,423	)		43,670		(664	)		238,725		(2,087	)
Total temporarily - impaired debt securities available for sale	$	3,228,573	$	(59,518	)	$	313,751	$	(12,022	)	$	3,542,324	$	(71,540	)

December 31, 2013	Less than 12 months					12 months or more					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury	$	39,822	$	(873	)	$	—	$	—		$	39,822	$	(873	)
U.S. Agencies		675,509		(3,130	)		9,824		(176	)		685,333		(3,306	)
Mortgage-backed		1,945,964		(60,719	)		89,147		(3,620	)		2,035,111		(64,339	)
State and political subdivisions		662,225		(25,064	)		87,061		(6,692	)		749,286		(31,756	)
Corporates		271,834		(2,458	)		41,522		(983	)		313,356		(3,441	)
Total temporarily - impaired debt securities available for sale	$	3,595,354	$	(92,244	)	$	227,554	$	(11,471	)	$	3,822,908	$	(103,715	)

The unrealized losses in the Company’s investments in U.S. treasury obligations, U.S. government agencies, federal agency mortgage-backed securities, municipal securities, and corporates were caused by changes in interest rates. The Company does not have the intent to sell these securities and does not believe it is more likely than not that the Company will be required to sell these securities before a recovery of fair value. The Company expects to recover its cost basis in the securities and does not consider these investments to be other-than-temporarily impaired at March 31, 2014.

Securities Held to Maturity

The table below provides detailed information for securities held to maturity at March 31, 2014 and December 31, 2013 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
March 31, 2014	Cost		Gains		Losses		Value
State and political subdivisions	$	219,724	$	17,174	$	—	$	236,898
December 31, 2013
State and political subdivisions	$	209,770	$	21,740	$	—	$	231,510

The following table presents contractual maturity information for securities held to maturity at March 31, 2014 (in thousands):

	Amortized Cost		Fair Value
Due in 1 year or less	$	61	$	66
Due after 1 year through 5 years		27,251		29,381
Due after 5 years through 10 years		98,703		106,418
Due after 10 years		93,709		101,033
Total securities held to maturity	$	219,724	$	236,898

Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

There were no sales of securities held to maturity during the first three months of 2014 or 2013.

Trading Securities

The net unrealized gains on trading securities at March 31, 2014 and March 31, 2013 were $0.3 million and $0.2 million, respectively, and were included in trading and investment banking income on the consolidated statements of income.

Federal Reserve Bank Stock and Other Securities

The table below provides detailed information for Federal Reserve Bank stock and other securities at March 31, 2014 and December 31, 2013(in thousands):

			Gross		Gross
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
March 31, 2014
Federal Reserve Bank stock	$	16,279	$	—	$	—	$	16,279
Other securities – marketable		—		17,385		—		17,385
Other securities – non-marketable		18,427		2,460		—		20,887
Total Federal Reserve Bank stock and other	$	34,706	$	19,845	$	—	$	54,551
December 31, 2013
Federal Reserve Bank stock	$	16,279	$	—	$	—	$	16,279
Other securities – marketable		20		16,612		—		16,632
Other securities – non-marketable		17,139		432		—		17,571
Total Federal Reserve Bank stock and other	$	33,438	$	17,044	$	—	$	50,482

Federal Reserve Bank stock is based on the capital structure of the investing bank and is carried at cost. Other marketable and non-marketable securities include Prairie Capital Management alternative investments in hedge funds and private equity funds, which are accounted for as equity-method investments. The fair value of other marketable securities includes alternative investment securities of $17.4 million at March 31, 2014 and $16.6 million at December 31, 2013. The fair value of other non-marketable securities includes alternative investment securities of $6.3 million at March 31, 2014 and $4.7 million at December 31, 2013. Unrealized gains or losses on alternative investments are recognized in the Equity Earnings on Alternative Investments line of the Company’s Consolidated Statements of Income.

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Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2014

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles

6. Goodwill and Other Intangibles

Changes in the carrying amount of goodwill for the periods ended March 31, 2014 and December 31, 2013 by reportable segment are as follows (in thousands):

	Bank		Institutional Investment Management		Asset Servicing		Total
Balances as of January 1, 2013	$	142,753	$	47,529	$	19,476	$	209,758
Balances as of December 31, 2013	$	142,753	$	47,529	$	19,476	$	209,758
Balances as of January 1, 2014	$	142,753	$	47,529	$	19,476	$	209,758
Balances as of March 31, 2014	$	142,753	$	47,529	$	19,476	$	209,758

Following are the finite-lived intangible assets that continue to be subject to amortization as of March 31, 2014 and December 31, 2013 (in thousands):

	As of March 31, 2014
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	36,497	$	31,946	$	4,551
Customer relationships		103,960		56,835		47,125
Other intangible assets		3,247		2,440		807
Total intangible assets	$	143,704	$	91,221	$	52,483
	As of December 31, 2013
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	36,497	$	31,674	$	4,823
Customer relationships		103,960		54,062		49,898
Other intangible assets		3,247		2,383		864
Total intangible assets	$	143,704	$	88,119	$	55,585

Following is the aggregate amortization expense recognized in each period (in thousands):

	Three Months Ended March  31,
	2014		2013
Aggregate amortization expense	$	3,102	$	3,456

Estimated amortization expense of intangible assets on future years (in thousands):

For the nine months ending December 31, 2014	$	9,044
For the year ending December 31, 2015		9,550
For the year ending December 31, 2016		8,342
For the year ending December 31, 2017		7,098
For the year ending December 31, 2018		4,908

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Business Segment Reporting

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Business Segment Reporting

8. Business Segment Reporting

The Company has strategically aligned its operations into the following four reportable segments (collectively, “Business Segments”): Bank, Payment Solutions, Institutional Investment Management, and Asset Servicing. Business segment financial results produced by the Company’s internal management reporting system are evaluated regularly by senior executive officers in deciding how to allocate resources and assess performance for individual Business Segments. The management reporting system assigns balance sheet and income statement items to each business segment using methodologies that are refined on an ongoing basis. For comparability purposes, amounts in all periods presented are based on methodologies in effect at March 31, 2014. Previously reported results have been reclassified to conform to the current organizational structure.

The following summaries provide information about the activities of each segment:

The Bank provides a full range of banking services to commercial, retail, government and correspondent bank customers through the Company’s branches, call center, internet banking, and ATM network. Services include traditional commercial and consumer banking, treasury management, leasing, foreign exchange, merchant bankcard, wealth management, brokerage, insurance, capital markets, investment banking, corporate trust, and correspondent banking.

Payment Solutions provides consumer and commercial credit and debit card, prepaid debit card solutions, healthcare services, and institutional cash management. Healthcare services include health savings account and flexible savings account products for healthcare providers, third-party administrators and large employers.

Institutional Investment Management provides equity and fixed income investment strategies in the intermediary and institutional markets via mutual funds, traditional separate accounts and sub-advisory relationships.

Asset Servicing provides services to the asset management industry, supporting a range of investment products, including mutual funds, alternative investments and managed accounts. Services include fund administration, fund accounting, investor services, transfer agency, distribution, marketing, custody, alternative investment services, and collective and multiple-series trust services.

Business Segment Information

Segment financial results were as follows (in thousands):

	Three Months Ended March 31, 2014
	Bank		Payment Solutions		Institutional Investment Management			Asset Servicing		Total
Net interest income	$	71,121	$	12,388	$	(2	)	$	1,938	$	85,445
Provision for loan losses		2,426		2,074		—			—		4,500
Noninterest income		47,420		20,235		34,095			21,214		122,964
Noninterest expense		107,753		21,015		25,894			17,579		172,241
Income before taxes		8,362		9,534		8,199			5,573		31,668
Income tax expense		1,942		2,609		2,184			1,520		8,255
Net income	$	6,420	$	6,925	$	6,015		$	4,053	$	23,413
Average assets	$	12,299,000	$	1,952,000	$	74,000		$	2,179,000	$	16,504,000

	Three Months Ended March 31, 2013
	Bank		Payment Solutions		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	67,260	$	11,548	$	—	$	675	$	79,483
Provision for loan losses		309		1,691		—		—		2,000
Noninterest income		52,748		19,437		28,552		20,279		121,016
Noninterest expense		91,536		20,117		18,845		19,880		150,378
Income before taxes		28,163		9,177		9,707		1,074		48,121
Income tax expense		7,705		2,534		2,667		274		13,180
Net income	$	20,458	$	6,643	$	7,040	$	800	$	34,941
Average assets	$	11,306,000	$	1,698,000	$	78,000	$	1,701,000	$	14,783,000

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Rollforward of Allowance for Loan Losses by Portfolio Segment (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 74,751	$ 71,426
Charge-offs	(4,685)	(4,849)
Recoveries	948	1,304
Provision	4,500	2,000
Ending Balance	75,514	69,881
Ending Balance: individually evaluated for impairment, allowances	4,260	3,515	4,252
Ending Balance: collectively evaluated for impairment, allowances	71,254	66,366
Ending Balance: loans	6,759,089	6,010,681	6,520,512
Ending Balance: individually evaluated for impairment, loans	29,276	26,160
Ending Balance: collectively evaluated for impairment, loans	6,729,813	5,984,521
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	48,886	43,390
Charge-offs	(1,471)	(1,397)
Recoveries	67	374
Provision	881	978
Ending Balance	48,363	43,345
Ending Balance: individually evaluated for impairment, allowances	2,541	3,206
Ending Balance: collectively evaluated for impairment, allowances	45,822	40,139
Ending Balance: loans	3,611,383	3,305,175
Ending Balance: individually evaluated for impairment, loans	14,719	15,974
Ending Balance: collectively evaluated for impairment, loans	3,596,664	3,289,201
Real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	15,342	15,506
Charge-offs	(126)	(195)
Recoveries	9	9
Provision	866	(374)
Ending Balance	16,091	14,946
Ending Balance: individually evaluated for impairment, allowances	1,719	309
Ending Balance: collectively evaluated for impairment, allowances	14,372	14,637
Ending Balance: loans	2,761,664	2,320,388
Ending Balance: individually evaluated for impairment, loans	14,555	10,140
Ending Balance: collectively evaluated for impairment, loans	2,747,109	2,310,248
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	10,447	12,470
Charge-offs	(3,088)	(3,257)
Recoveries	872	921
Provision	2,753	1,395
Ending Balance	10,984	11,529
Ending Balance: individually evaluated for impairment, allowances
Ending Balance: collectively evaluated for impairment, allowances	10,984	11,529
Ending Balance: loans	361,989	365,217
Ending Balance: individually evaluated for impairment, loans	2	46
Ending Balance: collectively evaluated for impairment, loans	361,987	365,171
Leases [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	76	60
Charge-offs
Recoveries
Provision		1
Ending Balance	76	61
Ending Balance: individually evaluated for impairment, allowances
Ending Balance: collectively evaluated for impairment, allowances	76	61
Ending Balance: loans	24,053	19,901	23,981
Ending Balance: individually evaluated for impairment, loans
Ending Balance: collectively evaluated for impairment, loans	$ 24,053	$ 19,901

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Schedule of Segment Financial Results (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]
Net interest income	$ 85,445	$ 79,483
Provision for loan losses	4,500	2,000
Noninterest income	122,964	121,016
Noninterest expense	172,241	150,378
Income before income taxes	31,668	48,121
Income tax expense	8,255	13,180
Net income	23,413	34,941
Average assets	16,504,000	14,783,000
Bank [Member]
Segment Reporting Information [Line Items]
Net interest income	71,121	67,260
Provision for loan losses	2,426	309
Noninterest income	47,420	52,748
Noninterest expense	107,753	91,536
Income before income taxes	8,362	28,163
Income tax expense	1,942	7,705
Net income	6,420	20,458
Average assets	12,299,000	11,306,000
Payment Solutions [Member]
Segment Reporting Information [Line Items]
Net interest income	12,388	11,548
Provision for loan losses	2,074	1,691
Noninterest income	20,235	19,437
Noninterest expense	21,015	20,117
Income before income taxes	9,534	9,177
Income tax expense	2,609	2,534
Net income	6,925	6,643
Average assets	1,952,000	1,698,000
Institutional Investment Management [Member]
Segment Reporting Information [Line Items]
Net interest income	(2)
Provision for loan losses
Noninterest income	34,095	28,552
Noninterest expense	25,894	18,845
Income before income taxes	8,199	9,707
Income tax expense	2,184	2,667
Net income	6,015	7,040
Average assets	74,000	78,000
Asset Servicing [Member]
Segment Reporting Information [Line Items]
Net interest income	1,938	675
Provision for loan losses
Noninterest income	21,214	20,279
Noninterest expense	17,579	19,880
Income before income taxes	5,573	1,074
Income tax expense	1,520	274
Net income	4,053	800
Average assets	$ 2,179,000	$ 1,701,000

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Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2014

Receivables [Abstract]

Summary of Loan Classes and Aging of Past Due Loans

This table provides a summary of loan classes and an aging of past due loans at March 31, 2014 and December 31, 2013 (in thousands):

	March 31, 2014
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non-Accrual Loans		Total Past Due		Current		Total Loans
Commercial:
Commercial	$	3,478	$	2,023	$	8,611	$	14,112	$	3,475,917	$	3,490,029
Commercial – credit card		368		126		25		519		120,835		121,354
Real estate:
Real estate – construction		768		—		921		1,689		184,271		185,960
Real estate – commercial		2,660		—		18,104		20,764		1,690,106		1,710,870
Real estate – residential		1,114		—		946		2,060		292,345		294,405
Real estate – HELOC		1,983		—		325		2,308		568,121		570,429
Consumer:
Consumer – credit card		2,391		2,853		869		6,113		294,183		300,296
Consumer – other		2,943		99		352		3,394		58,299		61,693
Leases		157		—		—		157		23,896		24,053
Total loans	$	15,862	$	5,101	$	30,153	$	51,116	$	6,707,973	$	6,759,089

	December 31, 2013
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non-Accrual Loans		Total Past Due		Current		Total Loans
Commercial:
Commercial	$	2,107	$	135	$	8,042	$	10,284	$	3,291,219	$	3,301,503
Commercial – credit card		362		82		38		482		102,788		103,270
Real estate:
Real estate – construction		186		—		934		1,120		151,755		152,875
Real estate – commercial		3,611		344		19,213		23,168		1,678,983		1,702,151
Real estate – residential		1,257		13		868		2,138		287,218		289,356
Real estate – HELOC		880		6		210		1,096		565,032		566,128
Consumer:
Consumer – credit card		3,230		2,448		1,031		6,709		311,627		318,336
Consumer – other		1,727		190		370		2,287		60,625		62,912
Leases		—		—		—		—		23,981		23,981
Total loans	$	13,360	$	3,218	$	30,706	$	47,284	$	6,473,228	$	6,520,512

Credit Risk Profile by Risk Rating

Credit Exposure

Credit Risk Profile by Risk Rating

	Commercial				Real estate - construction
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Non-watch list	$	3,229,699	$	3,041,224	$	183,855	$	151,359
Watch		107,824		110,932		801		210
Special Mention		74,830		78,064		—		—
Substandard		77,676		71,283		1,304		1,306
Total	$	3,490,029	$	3,301,503	$	185,960	$	152,875

	Real estate - commercial
	March 31, 2014		December 31, 2013
Non-watch list	$	1,565,623	$	1,565,894
Watch		79,620		76,647
Special Mention		19,644		19,876
Substandard		45,983		39,734
Total	$	1,710,870	$	1,702,151

Credit Risk Profile Based on Payment Activity

Credit Exposure

Credit Risk Profile Based on Payment Activity

	Commercial - credit card				Real estate - residential
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Performing	$	121,329	$	103,232	$	293,459	$	288,488
Non-performing		25		38		946		868
Total	$	121,354	$	103,270	$	294,405	$	289,356
	Real estate - HELOC				Consumer - credit card
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Performing	$	570,104	$	565,918	$	299,427	$	317,305
Non-performing		325		210		869		1,031
Total	$	570,429	$	566,128	$	300,296	$	318,336
	Consumer - other				Leases
	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Performing	$	61,341	$	62,542	$	24,053	$	23,981
Non-performing		352		370		—		—
Total	$	61,693	$	62,912	$	24,053	$	23,981

Rollforward of Allowance for Loan Losses by Portfolio Segment

This table provides a rollforward of the allowance for loan losses by portfolio segment for three months ended March 31, 2014 (in thousands):

	Three Months Ended March 31, 2014
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	48,886		$	15,342		$	10,447		$	76	$	74,751
Charge-offs		(1,471	)		(126	)		(3,088	)		—		(4,685	)
Recoveries		67			9			872			—		948
Provision		881			866			2,753			—		4,500
Ending Balance	$	48,363		$	16,091		$	10,984		$	76	$	75,514
Ending Balance: individually evaluated for impairment	$	2,541		$	1,719		$	—		$	—	$	4,260
Ending Balance: collectively evaluated for impairment		45,822			14,372			10,984			76		71,254
Loans:
Ending Balance: loans	$	3,611,383		$	2,761,664		$	361,989		$	24,053	$	6,759,089
Ending Balance: individually evaluated for impairment		14,719			14,555			2			—		29,276
Ending Balance: collectively evaluated for impairment		3,596,664			2,747,109			361,987			24,053		6,729,813

This table provides a rollforward of the allowance for loan losses by portfolio segment for three months ended March 31, 2013 (in thousands):

	Three Months Ended March 31, 2013
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	43,390		$	15,506		$	12,470		$	60	$	71,426
Charge-offs		(1,397	)		(195	)		(3,257	)		—		(4,849	)
Recoveries		374			9			921			—		1,304
Provision		978			(374	)		1,395			1		2,000
Ending Balance	$	43,345		$	14,946		$	11,529		$	61	$	69,881
Ending Balance: individually evaluated for impairment	$	3,206		$	309		$	—		$	—	$	3,515
Ending Balance: collectively evaluated for impairment		40,139			14,637			11,529			61		66,366
Loans:
Ending Balance: loans	$	3,305,175		$	2,320,388		$	365,217		$	19,901	$	6,010,681
Ending Balance: individually evaluated for impairment		15,974			10,140			46			—		26,160
Ending Balance: collectively evaluated for impairment		3,289,201			2,310,248			365,171			19,901		5,984,521

Analysis of Impaired Loans

This table provides an analysis of impaired loans by class at March 31, 2014 and December 31, 2013 (in thousands):

	Three Months Ended March 31, 2014
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	17,684	$	2,855	$	11,864	$	14,719	$	2,541	$	14,678
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		1,403		798		123		921		98		927
Real estate – commercial		14,360		3,052		9,574		12,626		1,621		13,074
Real estate – residential		1,221		1,008		—		1,008		—		1,048
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		3		2		—		2		—		6
Leases		—		—		—		—		—		—
Total	$	34,671	$	7,715	$	21,561	$	29,276	$	4,260	$	29,733

	Year Ended December 31, 2013
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	17,227	$	3,228	$	11,407	$	14,635	$	2,882	$	14,791
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		1,408		810		123		933		—		1,186
Real estate – commercial		14,686		5,305		8,218		13,523		94		10,506
Real estate – residential		1,317		1,087		—		1,087		1,276		1,122
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		12		11		—		11		—		34
Leases		—		—		—		—		—		—
Total	$	34,650	$	10,441	$	19,748	$	30,189	$	4,252	$	27,639

Summary of Loans Restructured by Class

This table provides a summary of loans restructured by class during the three months ended March 31, 2014 and 2013 (in thousands):

	Three Months Ended March 31, 2014						Three Months Ended March 31, 2013
	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Troubled Debt Restructurings
Commercial:
Commercial		1	$	469	$	469		—	$	—	$	—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—		—		—
Real estate – commercial		—		—		—		2		1,408		1,407
Real estate – residential		—		—		—		—		—		—
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		—		—		—		—		—		—
Leases		—		—		—		—		—		—
Total		1	$	469	$	469		2	$	1,408	$	1,407

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Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivative Assets and Liabilities

This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of March 31, 2014 and December 31, 2013 (in thousands):

	Asset Derivatives				Liability Derivatives
Fair value	March 31, 2014		December 31, 2013		March 31, 2014		December 31, 2013
Interest Rate Products:
Derivatives not designated as hedging instruments	$	3,378	$	2,442	$	3,365	$	2,346
Derivatives designated as hedging instruments		—		76		43		—
Total	$	3,378	$	2,518	$	3,408	$	2,346

Summary of Amount of Gain (Loss) Recognized in Other Non-Interest Expense in Consolidated Statements of Income Related to Derivative Asset and Liability

This table provides a summary of the amount of gain (loss) recognized in other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative asset and liability as of March 31, 2014 and March 31, 2013 (in thousands):

	Amount of Gain (Loss) Recognized
	For the Year Ended
	March 31,
	2014			2013
Interest Rate Products
Derivatives not designated as hedging instruments	$	(83	)	$	106
Total	$	(83	)	$	106
Interest Rate Products
Derivatives designated as hedging instruments
Fair value adjustments on derivatives	$	(119	)	$	—
Fair value adjustments on hedged items		109			—
Total	$	(10	)	$	—

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Commitments, Contingencies and Guarantees - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended
	Mar. 28, 2014	Mar. 31, 2014
Commitments And Contingencies Disclosure [Abstract]
Unrealized gain on equity method investments	$ 16,600,000
Contingency reserve		$ 15,000,000

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Securities Held to Maturity (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Schedule of Held-to-maturity Securities [Line Items]
Held to Maturity, Amortized Cost	$ 219,724	$ 209,770
Held to Maturity, Fair value	236,898	231,510
State and political subdivisions [Member]
Schedule of Held-to-maturity Securities [Line Items]
Held to Maturity, Amortized Cost	219,724	209,770
Held to Maturity, Gross Unrealized Gains	17,174	21,740
Held to Maturity, Gross Unrealized Losses
Held to Maturity, Fair value	$ 236,898	$ 231,510

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STATEMENTS OF CONSOLIDATED COMPREHENSIVE INCOME (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 23,413	$ 34,941
Unrealized gains on securities:
Change in unrealized holding gains (losses), net	32,459	(27,048)
Less: Reclassifications adjustment for gains included in net income	(1,470)	(5,893)
Change in unrealized gains (losses) on securities during the period	30,989	(32,941)
Income tax (expense) benefit	(11,646)	10,925
Other comprehensive income (loss)	19,343	(22,016)
Comprehensive income	$ 42,756	$ 12,925

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Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

The Company is a financial holding company, which offers a wide range of banking and other financial services to its customers through its branches and offices in the states of Missouri, Kansas, Colorado, Illinois, Oklahoma, Texas, Arizona, Nebraska, Pennsylvania, South Dakota, Indiana, Utah, and Wisconsin. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. These estimates and assumptions also impact reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. A summary of the significant accounting policies to assist the reader in understanding the financial presentation is listed in the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

Interest-bearing Due From Banks

Amounts due from the Federal Reserve Bank which are interest-bearing for all periods presented, and amounts due from certificates of deposits issued by other financial institutions are included in interest-bearing due from banks. The amounts due from certificates of deposit totaled $82.9 million and $22.9 million at March 31, 2014 and March 31, 2013, respectively.

This table provides a summary of cash and cash equivalents as presented on the Consolidated Statement of Cash Flows as of March 31, 2014 and March 31, 2013 (in thousands):

	March 31,
	2014		2013
Due from the Federal Reserve	$	684,947	$	1,608,279
Cash and due from banks		593,956		319,535
Cash and cash equivalents at end of period	$	1,278,903	$	1,927,814

Per Share Data

Basic income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted income per share includes the dilutive effect of 640,622 and 418,210 shares issuable upon the exercise of stock options granted by the Company at March 31, 2014 and 2013, respectively.

Options issued under employee benefit plans to purchase 258,254 and 280,611 shares of common stock were outstanding at March 31, 2014 and 2013, respectively, but were not included in the computation of diluted EPS because the options were anti-dilutive.

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Assets Measured at Fair Value on Non-Recurring Basis (Detail) (Fair Value, Measurements, Non-Recurring [Member], USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value	$ 17,336	$ 15,825
Impaired loans [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value	17,301	15,496
Other real estate owned [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value	35	329
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Impaired loans [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other real estate owned [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value
Significant Other Observable Inputs (Level 2) [Member] | Impaired loans [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value
Significant Other Observable Inputs (Level 2) [Member] | Other real estate owned [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value
Significant Unobservable Inputs (Level 3) [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value	17,336	15,825
Significant Unobservable Inputs (Level 3) [Member] | Impaired loans [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value	17,301	15,496
Significant Unobservable Inputs (Level 3) [Member] | Other real estate owned [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value	35	329
Total Gains (Losses) Recognized [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value	(8)	(2,621)
Total Gains (Losses) Recognized [Member] | Impaired loans [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value	(8)	(2,496)
Total Gains (Losses) Recognized [Member] | Other real estate owned [Member]
Fair Value Of Assets And Liabilities Measured At Non Recurring Basis [Line Items]
Assets measured at fair value		$ (125)

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013 (in thousands):

	Fair Value Measurement As of March 31, 2014
Description	March 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets
U.S. Treasury	$	400	$	400	$	—		$	—
U.S. Agencies		—		—		—			—
Mortgage-backed		7,406		—		7,406			—
State and political subdivisions		5,273		—		5,273			—
Trading – other		29,976		29,979		(3	)		—
Trading securities		43,055		30,379		12,676			—
U.S. Treasury		251,790		251,790		—			—
U.S. Agencies		1,019,625		—		1,019,625			—
Mortgage-backed		3,083,386		—		3,083,386			—
State and political subdivisions		1,957,572		—		1,957,572			—
Corporates		422,558		422,558		—			—
Available for sale securities		6,734,931		674,348		6,060,583			—
Company-owned life insurance		20,058		—		20,058			—
Derivatives		3,378		—		3,378			—
Total	$	6,801,422	$	704,727	$	6,096,695		$	—
Liabilities
Deferred compensation	$	24,106	$	24,106	$	—		$	—
Contingent consideration liability		44,700		—		—			44,700
Derivatives		3,408		—		3,408			—
Total	$	72,214	$	24,106	$	3,408		$	44,700

	Fair Value Measurement as of December 31, 2013
Description	December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
U.S. Treasury	$	400	$	400	$	—	$	—
U.S. Agencies		—		—		—		—
Mortgage-backed		515		—		515		—
State and political subdivisions		3,072		—		3,072		—
Trading – other		24,477		24,477		—		—
Trading securities		28,464		24,877		3,587		—
U.S. Treasury		110,200		110,200		—		—
U.S. Agencies		1,257,663		—		1,257,663		—
Mortgage-backed		2,944,566		—		2,944,566		—
State and political subdivisions		1,995,246		—		1,995,246		—
Corporates		454,736		454,736		—		—
Available for sale securities		6,762,411		564,936		6,197,475		—
Company-owned life insurance		19,619		—		19,619		—
Derivatives		2,518		—		2,518		—
Total	$	6,813,012	$	589,813	$	6,223,199	$	—
Liabilities
Deferred compensation		19,825	$	19,825	$	—	$	—
Contingent consideration liability		46,201		—		—		46,201
Derivatives		2,346		—		2,346		—
Total	$	68,372	$	19,825	$	2,346	$	46,201

Reconciliation of Beginning and Ending Fair Value of Balances of Contingent Consideration Liability

The following table reconciles the beginning and ending fair value of balances of the contingent consideration liability:

	Three Months Ended March 31,
	2014			2013
Beginning Balance	$	46,201		$	51,163
Payment of contingent considerations on acquisitions		(5,975	)		(4,899	)
Income from fair value adjustments		—			(138	)
Expense from fair value adjustments		4,474			3,316
Ending Balance	$	44,700		$	49,442

Quantitative Information about Significant Unobservable Input used in Fair Value Measurement for Contingent Consideration Liability Measured at Fair Value on Recurring Basis

The following table presents certain quantitative information about the significant unobservable input used in the fair value measurement for the contingent consideration liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

Description	Valuation Techniques	Significant Unobservable Inputs	Range
Liabilities
Contingent consideration liability	Discounted cash flows	Revenue and expense growth percentage	1% - 78%

Assets Measured at Fair Value on Non-Recurring Basis

Assets measured at fair value on a non-recurring basis as of March 31, 2014 and December 31, 2013 (in thousands):

	Fair Value Measurement at March 31, 2014 Using
Description	March 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses) Recognized During the Three Months Ended March 31
Impaired loans	$	17,301	$	—	$	—	$	17,301	$	(8	)
Other real estate owned		35		—		—		35	$	—
Total	$	17,336	$	—	$	—	$	17,336	$	(8	)
	Fair Value Measurement at December 31, 2013 Using
Description	December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Gains (Losses) Recognized During the Twelve Months Ended December 31
Impaired loans	$	15,496	$	—	$	—	$	15,496	$	(2,496	)
Other real estate owned		329		—		—		329		(125	)
Total	$	15,825	$	—	$	—	$	15,825	$	(2,621	)

Estimated Fair Value of Financial Instruments

The estimated fair value of the Company’s financial instruments at March, 31, 2014 and December 31, 2013 are as follows (in millions):

	Fair Value Measurement at March 31, 2014 Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Estimated Fair Value
FINANCIAL ASSETS
Securities held to maturity	$	219.7	$	—	$	236.9	$	—	$	236.9
Federal Reserve Bank and other		54.6		—		54.6		—		54.6
Loans (exclusive of allowance for loan loss)		6,760.2		—		6,799.6		—		6,799.6
FINANCIAL LIABILITIES
Time deposits		1,214.7		—		1,212.9		—		1,212.9
Long-term debt		5.8		—		6.0		—		6.0
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										1.5
Commercial letters of credit										0.1
Standby letters of credit										0.5

	Fair Value Measurement at December 31, 2013 Using
	Carrying Amount		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Estimated Fair Value
FINANCIAL ASSETS
Securities held to maturity	$	209.8	$	—	$	231.5	$	—	$	231.5
Federal Reserve Bank and other s		50.5		—		50.5		—		50.5
Loans (exclusive of allowance for loan loss)		6,521.9		—		6,571.6		—		6,571.6
FINANCIAL LIABILITIES
Time deposits		1,449.6		—		1,449.4		—		1,449.4
Long-term debt		5.1		—		4.5		—		4.5
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										6.0
Commercial letters of credit										0.1
Standby letters of credit										2.0

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Summary of Contractual Maturity Information for Securities Available for Sale (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Investments Debt And Equity Securities [Abstract]
Due in 1 year or less, Amortized Cost	$ 469,340
Due after 1 year through 5 years, Amortized Cost	2,303,020
Due after 5 years through 10 years, Amortized Cost	729,845
Due after 10 years, Amortized Cost	145,881
Total, Amortized Cost	3,648,086
Mortgage-backed securities, Amortized Cost	3,108,155
Total securities available for sale, Amortized Cost	6,756,241	6,814,712
Due in 1 year or less, Fair Value	471,680
Due after 1 year through 5 years, Fair Value	2,314,245
Due after 5 years through 10 years, Fair Value	726,462
Due after 10 years, Fair Value	139,158
Total, Fair Value	3,651,545
Mortgage-backed securities, Fair Value	3,083,386
Total securities available for sale, Fair Value	$ 6,734,931	$ 6,762,411

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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Summary of Cash and Cash Equivalents

This table provides a summary of cash and cash equivalents as presented on the Consolidated Statement of Cash Flows as of March 31, 2014 and March 31, 2013 (in thousands):

	March 31,
	2014		2013
Due from the Federal Reserve	$	684,947	$	1,608,279
Cash and due from banks		593,956		319,535
Cash and cash equivalents at end of period	$	1,278,903	$	1,927,814