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 June 30, 2016

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 000-04887

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. (Check one):

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    x  No

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

As of July 28, 2016, UMB Financial Corporation had 49,529,830 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
CONSOLIDATED STATEMENTS OF INCOME		4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME		5
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY		6
CONSOLIDATED STATEMENTS OF CASH FLOWS		7
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS		8
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	42
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	60
ITEM 4.	CONTROLS AND PROCEDURES	64
PART II - OTHER INFORMATION		65
ITEM 1.	LEGAL PROCEEDINGS	65
ITEM 1A.	RISK FACTORS	65
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	65
ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	65
ITEM 4.	MINE SAFETY DISCLOSURES	66
ITEM 5.	OTHER INFORMATION	66
ITEM 6.	EXHIBITS	66
SIGNATURES		67

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)

	June 30, 2016			December 31, 2015
ASSETS
Loans:	$	10,083,266		$	9,430,761
Allowance for loan losses		(84,666	)		(81,143	)
Net loans		9,998,600			9,349,618
Loans held for sale		10,495			589
Investment securities:
Available for sale		6,771,179			6,806,949
Held to maturity (fair value of $991,715 and $691,379, respectively)		880,600			667,106
Trading securities		56,311			29,617
Other securities		66,300			65,198
Total investment securities		7,774,390			7,568,870
Federal funds sold and securities purchased under agreements to resell		196,283			173,627
Interest-bearing due from banks		379,611			522,877
Cash and due from banks		355,732			458,217
Premises and equipment, net		277,060			281,471
Accrued income		92,650			90,127
Goodwill		228,396			228,346
Other intangibles, net		40,411			46,782
Other assets		380,448			373,721
Total assets	$	19,734,076		$	19,094,245
LIABILITIES
Deposits:
Noninterest-bearing demand	$	6,233,492		$	6,306,895
Interest-bearing demand and savings		8,270,416			7,529,972
Time deposits under $250,000		695,629			771,973
Time deposits of $250,000 or more		449,156			483,912
Total deposits		15,648,693			15,092,752
Federal funds purchased and repurchase agreements		1,788,567			1,818,062
Short-term debt		5,003			5,009
Long-term debt		85,320			86,070
Accrued expenses and taxes		149,027			161,245
Other liabilities		54,734			37,413
Total liabilities		17,731,344			17,200,551
SHAREHOLDERS’ EQUITY
Common stock, $1.00 par value; 80,000,000 shares authorized; 55,056,730 shares issued; and 49,528,986 and 49,396,366 shares outstanding, respectively		55,057			55,057
Capital surplus		1,023,195			1,019,889
Retained earnings		1,083,280			1,033,990
Accumulated other comprehensive income (loss), net		55,295			(3,718	)
Treasury stock, 5,527,744 and 5,660,364 shares, at cost, respectively		(214,095	)		(211,524	)
Total shareholders’ equity		2,002,732			1,893,694
Total liabilities and shareholders’ equity	$	19,734,076		$	19,094,245

See Notes to Consolidated Financial Statements.

3

UMB FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

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

	Three Months Ended June 30,					Six Months Ended June 30,
	2016		2015			2016		2015
INTEREST INCOME
Loans	$	93,949	$	71,396		$	184,493	$	135,628
Securities:
Taxable interest		18,852		19,163			38,209		37,971
Tax-exempt interest		13,845		10,607			26,580		20,522
Total securities income		32,697		29,770			64,789		58,493
Federal funds and resell agreements		642		151			1,149		202
Interest-bearing due from banks		436		434			1,327		1,286
Trading securities		173		133			225		228
Total interest income		127,897		101,884			251,983		195,837
INTEREST EXPENSE
Deposits		4,136		3,522			8,191		6,570
Federal funds and repurchase agreements		1,626		470			2,856		962
Other		925		532			1,834		587
Total interest expense		6,687		4,524			12,881		8,119
Net interest income		121,210		97,360			239,102		187,718
Provision for loan losses		7,000		5,000			12,000		8,000
Net interest income after provision for loan losses		114,210		92,360			227,102		179,718
NONINTEREST INCOME
Trust and securities processing		59,745		67,381			119,230		134,680
Trading and investment banking		5,638		5,568			10,268		11,690
Service charges on deposit accounts		22,420		21,625			43,881		43,166
Insurance fees and commissions		1,160		586			2,657		1,156
Brokerage fees		4,262		2,936			8,447		5,790
Bankcard fees		17,534		18,035			35,550		34,218
Gain on sales of securities available for sale, net		2,598		967			5,531		8,303
Equity earnings (loss) on alternative investments		978		(1,125	)		597		(1,967	)
Other		7,112		3,577			11,636		7,721
Total noninterest income		121,447		119,550			237,797		244,757
NONINTEREST EXPENSE
Salaries and employee benefits		108,897		99,585			216,047		198,122
Occupancy, net		11,139		10,312			22,111		20,322
Equipment		17,032		15,410			33,314		29,582
Supplies and services		4,719		4,603			9,668		8,928
Marketing and business development		6,313		6,530			10,754		11,148
Processing fees		11,464		12,654			22,926		25,437
Legal and consulting		4,937		5,917			9,736		10,295
Bankcard		5,369		4,953			11,184		9,721
Amortization of other intangible assets		3,145		2,569			6,371		5,324
Regulatory fees		3,692		2,873			7,121		5,629
Other		8,536		6,558			16,755		11,869
Total noninterest expense		185,243		171,964			365,987		336,377
Income before income taxes		50,414		39,946			98,912		88,098
Income tax expense		13,117		9,732			25,370		24,119
NET INCOME	$	37,297	$	30,214		$	73,542	$	63,979
PER SHARE DATA
Net income - basic	$	0.76	$	0.65		$	1.51	$	1.40
Net income - diluted		0.76		0.65			1.50		1.39
Dividends		0.245		0.235			0.490		0.470
Weighted average shares outstanding - basic		48,770,948		46,240,869			48,763,690		45,624,276
Weighted average shares outstanding - diluted		49,165,686		46,611,096			49,126,207		46,029,978

See Notes to Consolidated Financial Statements.

4

UMB FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(unaudited, dollars in thousands)

	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Net Income	$	37,297		$	30,214		$	73,542		$	63,979
Other comprehensive income, net of tax:
Unrealized gains (losses) on securities:
Change in unrealized holding gains (losses), net		42,273			(45,553	)		107,585			(12,877	)
Less: Reclassification adjustment for gains included in net income		(2,598	)		(967	)		(5,531	)		(8,303	)
Change in unrealized gains (losses) on securities during the period		39,675			(46,520	)		102,054			(21,180	)
Change in unrealized losses on derivative hedges		(2,894	)		—			(7,034	)		—
Income tax (expense) benefit		(13,954	)		17,569			(36,007	)		8,033
Other comprehensive income (loss)		22,827			(28,951	)		59,013			(13,147	)
Comprehensive income	$	60,124		$	1,263		$	132,555		$	50,832

See Notes to Consolidated Financial Statements.

5

UMB FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF CHANGES IN 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, 2015	$	55,057	$	894,602		$	963,911		$	11,006		$	(280,818	)	$	1,643,758
Total comprehensive income							63,979			(13,147	)					50,832
Dividends ($0.47 per share)		—		—			(22,327	)		—			—			(22,327	)
Purchase of treasury stock		—		—			—			—			(5,379	)		(5,379	)
Issuance of equity awards		—		(5,509	)		—			—			5,969			460
Recognition of equity-based compensation		—		5,779			—			—			—			5,779
Net tax benefit related to equity compensation plans		—		664			—			—			—			664
Sale of treasury stock		—		306			—			—			197			503
Exercise of stock options				1,488			—			—			1,541			3,029
Common stock issuance for acquisition		—		112,635			—			—			67,102			179,737
Balance – June 30, 2015	$	55,057	$	1,009,965		$	1,005,563		$	(2,141	)	$	(211,388	)	$	1,857,056
Balance - January 1, 2016	$	55,057	$	1,019,889		$	1,033,990		$	(3,718	)	$	(211,524	)	$	1,893,694
Total comprehensive income							73,542			59,013						132,555
Dividends ($0.49 per share)		—		—			(24,252	)		—			—			(24,252	)
Purchase of treasury stock		—		—			—			—			(13,581	)		(13,581	)
Issuance of equity awards		—		(4,457	)		—			—			4,887			430
Recognition of equity-based compensation		—		5,200			—			—			—			5,200
Net tax benefit related to equity compensation plans		—		250			—			—			—			250
Sale of treasury stock		—		260			—			—			309			569
Exercise of stock options		—		2,053			—			—			5,814			7,867
Balance – June 30, 2016	$	55,057	$	1,023,195		$	1,083,280		$	55,295		$	(214,095	)	$	2,002,732

See Notes to Consolidated Financial Statements.

6

UMB FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited, dollars in thousands)

	Six Months Ended
	June 30,
	2016			2015
Operating Activities
Net Income	$	73,542		$	63,979
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses		12,000			8,000
Net accretion of premiums and discounts from acquisition		(935	)		—
Depreciation and amortization		27,405			24,027
Deferred income tax expense (benefit)		2,665			(2,577	)
Net increase in trading securities		(27,291	)		(7,446	)
Gains on sales of securities available for sale, net		(5,531	)		(8,303	)
(Gains) losses on sales of assets		(720	)		5
Amortization of securities premiums, net of discount accretion		29,080			26,465
Originations of loans held for sale		(43,145	)		(59,422	)
Net gains on sales of loans held for sale		(871	)		(827	)
Proceeds from sales of loans held for sale		34,110			58,054
Equity based compensation		5,630			6,239
Changes in:
Accrued income		(2,523	)		(1,927	)
Accrued expenses and taxes		(11,902	)		(13,179	)
Other assets and liabilities, net		(9,282	)		12,647
Net cash provided by operating activities		82,232			105,735
Investing Activities
Proceeds from maturities of securities held to maturity		22,539			26,663
Proceeds from sales of securities available for sale		598,740			705,238
Proceeds from maturities of securities available for sale		779,759			645,959
Purchases of securities held to maturity		(238,029	)		(198,352	)
Purchases of securities available for sale		(1,281,401	)		(1,238,323	)
Net increase in loans		(660,088	)		(473,924	)
Net (increase) decrease in fed funds sold and resell agreements		(22,656	)		37,111
Net increase in interest bearing balances due from other financial institutions		52,488			19,200
Purchases of premises and equipment		(17,526	)		(29,479	)
Net cash activity from acquisitions		—			104,539
Proceeds from sales of premises and equipment		1,623			117
Increase in COLI/BOLI cash surrender value		(4,700	)		—
Net cash used in investing activities		(769,251	)		(401,251	)
Financing Activities
Net increase in demand and savings deposits		667,041			239,367
Net decrease in time deposits		(110,349	)		(303,635	)
Net decrease in fed funds purchased and repurchase agreements		(29,495	)		(250,697	)
Net decrease in short-term debt		—			(112,133	)
Repayment of long-term debt		(1,272	)		(10,580	)
Payment of contingent consideration on acquisitions		(3,031	)		(18,702	)
Cash dividends paid		(24,243	)		(22,295	)
Net tax benefit related to equity compensation plans		250			664
Proceeds from exercise of stock options and sales of treasury shares		8,436			3,532
Purchases of treasury stock		(13,581	)		(5,379	)
Net cash provided by (used in) financing activities		493,756			(479,858	)
Decrease in cash and cash equivalents		(193,263	)		(775,374	)
Cash and cash equivalents at beginning of period		819,112			1,787,230
Cash and cash equivalents at end of period	$	625,849		$	1,011,856
Supplemental Disclosures:
Income taxes paid	$	19,295		$	25,089
Total interest paid		13,199			7,360
Transactions related to bank acquisitions
Assets acquired		—			1,321,322
Liabilities assumed		—			1,160,044

See Notes to Consolidated Financial Statements.

7

UMB FINANCIAL CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

1. Financial Statement Presentation

The 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 relating to items that are 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 “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” within this Quarterly Report on Form 10-Q (the Form 10-Q) and in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 filed with the Securities and Exchange Commission (SEC) on February 25, 2016 (the Form 10-K).

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 Missouri, Kansas, Colorado, Illinois, Oklahoma, Texas, Arizona, Nebraska, Pennsylvania, South Dakota, Indiana, Utah, Minnesota, California, and Wisconsin. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) 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 provided in the Notes to Consolidated Financial Statements in the Form 10-K.

Cash and cash equivalents

Cash and cash equivalents include Cash and due from banks and amounts due from the Federal Reserve Bank. Cash on hand, cash items in the process of collection, and amounts due from correspondent banks are included in Cash and due from banks. Amounts due from the Federal Reserve Bank are interest-bearing for all periods presented and are included in the Interest-bearing due from banks line on the Company’s Consolidated Balance Sheets.

This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of June 30, 2016 and June 30, 2015 (in thousands):

	June 30,
	2016		2015
Due from the Federal Reserve Bank	$	270,117	$	521,685
Cash and due from banks		355,732		490,171
Cash and cash equivalents at end of period	$	625,849	$	1,011,856

Also included in the Interest-bearing due from banks line, but not considered cash and cash equivalents, are interest-bearing accounts held at other financial institutions, which totaled $109.5 million and $177.3 million at June 30, 2016 and June 30, 2015, respectively.

Per Share Data

Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted quarter-to-date net income per share includes the dilutive effect of 394,738 and 370,227 shares issuable upon the exercise of options granted by the Company and outstanding at June 30, 2016 and 2015, respectively. Diluted year-to-date net income per share includes the dilutive effect of 362,517 and 405,702 shares issuable upon the exercise of stock options granted by the Company and outstanding at June 30, 2016 and 2015, respectively.

8

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

Options issued under employee benefits plans to purchase 637,331 shares of common stock were outstanding at June 30, 2016, but were not included in the computation of quarter-to-date and year-to-date diluted EPS because the options were anti-dilutive. Options issued under employee benefits plans to purchase 495,366 shares of common stock were outstanding at June 30, 2015, but were not included in the computation of quarter-to-date and year-to-date diluted EPS because the options were anti-dilutive.

3. New Accounting Pronouncements

Revenue Recognition In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, “Revenue from Contracts with Customers.” The issuance is part of a joint effort by the FASB and the International Accounting Standards Board (IASB) to enhance financial reporting by creating common revenue recognition guidance for U.S. GAAP and International Financial Reporting Standards (IFRS) and, thereby, improving the consistency of requirements, comparability of practices and usefulness of disclosures. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In August 2015, the FASB issued ASU No. 2015-14, which deferred the effective date of ASU No. 2014-09 to annual reporting periods that begin after December 15, 2017. In March 2016, the FASB issued ASU No. 2016-08, which intends to improve the operability and understandability of the implementation guidance on principal versus agent considerations within ASU No. 2014-09. In April 2016, the FASB issued ASU No. 2016-10, which clarifies guidance related to identifying performance obligations and licensing implementation within ASU No. 2014-09. In May 2016, the FASB issued ASU Nos. 2016-11 and 2016-12, which further clarify guidance and provide practical expedients related to the adoption of ASU No. 2014-09. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the effect that these standards will have on its Consolidated Financial Statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Equity-Based Compensation In June 2014, the FASB issued ASU No. 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target could be Achieved after the Requisite Service Period.” The amendment is intended to reduce diversity in practice by clarifying that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The amendments in this update were effective for interim and annual periods beginning after December 15, 2015. The adoption of this accounting pronouncement had no impact on the Company’s Consolidated Financial Statements.

Going Concern In August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” The amendment addresses management’s responsibility in regularly evaluating whether there is substantial doubt about a company’s ability to continue as a going concern. The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter, although early adoption is permitted. The adoption of this accounting pronouncement will not impact the Company’s Consolidated Financial Statements.

Derivatives and Hedging In November 2014, the FASB issued ASU No. 2014-16, “Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity.” The amendment is intended to address how current U.S. GAAP should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. The amendments in this update were effective for interim and annual periods beginning after December 15, 2015. The adoption of this accounting pronouncement had no impact on the Company’s Consolidated Financial Statements.

Consolidation In February 2015, the FASB issued ASU No. 2015-02, “Amendments to the Consolidation Analysis.” The amendment substantially changes the way reporting entities are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the new amendment. Specifically, the amendments modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, eliminate the presumption that a general partner should consolidate a limited partnership, and affect the consolidation analysis of reporting entities that are involved with VIEs. The amendments in this update were effective for interim and annual periods beginning after December 15, 2015. The standard permits the use of either the retrospective or cumulative effect transition method. The adoption of this accounting pronouncement had no impact on the Company’s Consolidated Financial Statements.

9

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

Financial Instruments In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendment is intended to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments in this update are effective for interim and annual periods beginning after December 15, 2017. The standard requires the use of the cumulative effect transition method as of the beginning of the year of adoption. Except for certain provisions, early adoption is not permitted. The Company is currently evaluating the impact this will have on its Consolidated Financial Statements.

Leases In February 2016, the FASB issued ASU No. 2016-02, “Leases.” The amendment changes the accounting treatment of leases, in that lessees will recognize most leases on-balance sheet. This will increase reported assets and liabilities, as lessees will be required to recognize a right-of-use asset along with a lease liability, measured on a discounted basis. Lessees are allowed to account for short-term leases (those with a term of twelve months or less) off-balance sheet. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The standard requires the use of the modified retrospective transition method. Early adoption is permitted. The Company is currently evaluating the impact this will have on its Consolidated Financial Statements.

Extinguishments of Liabilities In March 2016, the FASB issued ASU No. 2016-04, “Recognition of Breakage for Certain Prepaid Stored-Value Products.” The amendment is intended to reduce the diversity in practice related to the recognition of breakage. Breakage refers to the portion of a prepaid stored-value product, such as a gift card, that goes unused wholly or partially for an indefinite period of time. This amendment requires that breakage be accounted for consistent with the breakage guidance within ASU No. 2014-09, “Revenue from Contracts with Customers.” The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The standard permits the use of either the modified retrospective or full retrospective transition method. Early adoption is permitted. The Company is currently evaluating the effect that ASU No. 2016-04 will have on its Consolidated Financial Statements. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. The Company will adopt ASU No. 2016-04 in conjunction with its adoption of ASU No. 2014-09.

Derivatives and Hedging In March 2016, the FASB issued ASU No. 2016-05, “Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.” The amendment is intended to clarify that the novation of a derivative contract that has been designated to be in a hedging relationship under Accounting Standards Codification (ASC) Topic 815 does not, in and of itself, represent a termination event for the derivative and does not require dedesignation of the hedging relationship. The amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendment permits the use of either a prospective or modified retrospective transition method. Early adoption is permitted. The adoption of this accounting pronouncement will have no impact on the Company’s Consolidated Financial Statements.

Equity-Based Compensation In March 2016, the FASB issued ASU No. 2016-09, “Improvements to Employee Share-Based Payment Accounting.” The amendment is part of the FASB’s simplification initiative and is intended to simplify the accounting around share-based payment award transactions. The amendments include changing the recording of excess tax benefits from being recognized as a part of surplus capital to being charged directly to the income statement, changing the classification of excess tax benefits within the statement of cash flows, and allowing companies to account for forfeitures on an actual basis, as well as tax withholding changes. The amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendment requires different transition methods for various components of the standard. Early adoption is permitted. The Company is currently evaluating the impact this will have on its Consolidated Financial Statements.

Credit Losses In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” This update replaces the current incurred loss methodology for recognizing credit losses with a current expected credit loss model, which requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This amendment broadens the information that an entity must consider in developing its expected credit loss estimates. Additionally, the update amends the accounting for credit losses for available-for-sale debt securities

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UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

and purchased financial assets with a more-than-insignificant amount of credit deterioration since origination. This update requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of a company’s loan portfolio. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption in fiscal years beginning after December 15, 2018 is permitted. The amendment requires the use of the modified retrospective approach for adoption. The Company is currently evaluating the impact this will have on its Consolidated Financial Statements.

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. Authority levels are established for the extension of credit to ensure consistency throughout the Company. It is necessary that policies, processes and practices implemented to control the risks of individual credit transactions and portfolio segments are sound and adhered to. 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.

Asset-based loans are offered primarily in the form of revolving lines of credit to commercial borrowers that do not generally qualify for traditional bank financing. Asset-based loans are underwritten based primarily upon the value of the collateral pledged to secure the loan, rather than on the borrower’s general financial condition as traditionally reflected by cash flow, balance sheet strength, operating results, and credit bureau ratings. The Company utilizes pre-loan due diligence techniques, monitoring disciplines, and loan management practices common within the asset-based lending industry to underwrite loans to these borrowers.

Factoring loans provide working capital through the purchase and/or financing of accounts receivable to borrowers in the transportation industry and to commercial borrowers that do not generally qualify for traditional bank financing.

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 that 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, sales of developed

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UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

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, 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.

Credit risk is a potential loss resulting from nonpayment of either the primary or secondary exposure. Credit risk is mitigated with formal risk management practices and a thorough initial credit-granting process including consistent underwriting standards and approval process. Control factors or techniques to minimize credit risk include knowing the client, understanding total exposure, analyzing the client and debtor’s financial capacity, and monitoring the client’s activities. Credit risk and portions of the portfolio risk are managed through concentration considerations, average risk ratings, and other aggregate characteristics.

The loan portfolio is comprised of loans originated by the Company and loans purchased in connection with the Company’s acquisition of Marquette Financial Companies (Marquette) on May 31, 2015 (the Acquisition Date). The purchased loans were recorded at estimated fair value at the Acquisition Date with no carryover of the related allowance. The purchased loans were segregated between those considered to be performing, non-purchased credit impaired loans (Non-PCI), and those with evidence of credit deterioration, purchased credit impaired loans (PCI). Purchased loans are considered impaired if there is evidence of credit deterioration and if it is probable, at acquisition, that all contractually required payments will not be collected.

At the Acquisition Date, gross loans purchased from the Marquette acquisition had a fair value of $980.4 million split between Non-PCI loans totaling $972.6 million and PCI loans totaling $7.8 million of loans. The gross contractually required principal and interest payments receivable for the Non-PCI loans and PCI loans totaled $983.9 million and $9.3 million, respectively.

The fair value estimates for purchased loans are based on expected prepayments and the amount and timing of discounted expected principal, interest and other cash flows. Credit discounts representing the principal losses expected over the life of the loan are also a component of the initial fair value. In determining the Acquisition Date fair value of PCI loans, and in subsequent accounting, the Company generally aggregated purchased commercial, real estate, and consumer loans into pools of loans with common risk characteristics.

The difference between the fair value of Non-PCI loans and contractual amounts due at the Acquisition Date is accreted into income over the estimated life of the loans. Contractual amounts due represent the total undiscounted amount of all uncollected principal and interest payments.

Loans accounted for under ASC Topic 310-30

The excess of PCI loans’ contractual amounts due over the amount of undiscounted cash flows expected to be collected is referred to as the non-accretable difference. The non-accretable difference, which is neither accreted into income nor recorded on the consolidated balance sheet, reflects estimated future credit losses and uncollectible contractual interest expected to be incurred over the life of the PCI loans. The excess cash flows expected to be collected over the carrying amount of PCI loans is referred to as the accretable yield. This amount is accreted into interest income over the remaining life of the purchased loans or pools using the level yield method. The accretable yield is affected by changes in interest rate indices for variable rate loans, changes in prepayment speed assumptions, and changes in expected principal and interest payments over the estimated lives of the PCI loans.

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UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

Each quarter the Company evaluates the remaining contractual amounts due and estimates cash flows expected to be collected over the life of the PCI loans. Contractual amounts due may increase or decrease for a variety of reasons, for example, when the contractual terms of the loan agreement are modified, when interest rates on variable rate loans change, or when principal and/or interest payments are received. Cash flows expected to be collected on PCI loans are estimated by incorporating several key assumptions similar to the initial estimate of fair value. These key assumptions include probability of default, loss given default, and the amount of actual prepayments after the Acquisition Date. Prepayments affect the estimated lives of loans and could change the amount of interest income, and possibly principal, expected to be collected. In re-forecasting future estimated cash flows, credit loss expectations are adjusted as necessary. The adjustments are based, in part, on actual loss severities recognized for each loan type, as well as changes in the probability of default. For periods in which estimated cash flows are not reforecasted, the prior reporting period’s estimated cash flows are adjusted to reflect the actual cash received and credit events that transpired during the current reporting period.

Increases in expected cash flows of PCI loans subsequent to the Acquisition Date are recognized prospectively through adjustments of the yield on the loans or pools over their remaining lives, while decreases in expected cash flows are recognized as impairment through a provision for loan losses and an increase in the allowance.

The PCI loans are accounted for in accordance with ASC Topic 310-30, Loans and Debt Securities Purchased with Deteriorated Credit Quality. At June 30, 2016, the net recorded carrying amount of loans accounted for under ASC 310-30 was $2.2 million and the contractual amount due was $3.0 million.

Below is the composition of the net book value for the PCI loans accounted for under ASC 310-30 at June 30, 2016 (in thousands):

	June 30, 2016
PCI Loans:
Contractual cash flows	$	2,970
Non-accretable difference		(647	)
Accretable yield		(101	)
Loans accounted for under ASC 310-30	$	2,222

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UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

Loan Aging Analysis

This table provides a summary of loan classes and an aging of past due loans at June 30, 2016 and December 31, 2015 (in thousands):

	June 30, 2016
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non- Accrual Loans		Total Past Due		PCI Loans		Current		Total Loans
Loans
Commercial:
Commercial	$	8,753	$	793	$	41,828	$	51,374	$	—	$	4,392,763	$	4,444,137
Asset-based		—		—		—		—		—		223,339		223,339
Factoring		—		—		—		—		—		101,327		101,327
Commercial – credit card		424		255		19		698		—		144,661		145,359
Real estate:
Real estate – construction		478		—		311		789		—		530,987		531,776
Real estate – commercial		4,750		—		9,375		14,125		992		2,970,077		2,985,194
Real estate – residential		3,143		66		537		3,746		—		474,892		478,638
Real estate – HELOC		1,089		—		3,389		4,478		—		737,225		741,703
Consumer:
Consumer – credit card		2,079		1,961		313		4,353		—		266,000		270,353
Consumer – other		8,013		1,625		2,651		12,289		1,230		111,344		124,863
Leases		—		—		—		—		—		36,577		36,577
Total loans	$	28,729	$	4,700	$	58,423	$	91,852	$	2,222	$	9,989,192	$	10,083,266

	June 30, 2016
	30-89 Days Past Due		Greater than 90 Days Past Due		Current		Total Loans
PCI Loans
Commercial:
Commercial	$	—	$	—	$	—	$	—
Asset-based		—		—		—		—
Factoring		—		—		—		—
Commercial – credit card		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—
Real estate – commercial		—		992		—		992
Real estate – residential		—		—		—		—
Real estate – HELOC		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—
Consumer – other		51		27		1,152		1,230
Leases		—		—				—
Total PCI loans	$	51	$	1,019	$	1,152	$	2,222

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UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

	December 31, 2015
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non- Accrual Loans		Total Past Due		PCI Loans		Current		Total Loans
Loans
Commercial:
Commercial	$	5,821	$	2,823	$	43,841	$	52,485	$	—	$	4,153,251	$	4,205,736
Asset-based		—		—		—		—		—		219,244		219,244
Factoring		—		—		—		—		—		90,686		90,686
Commercial – credit card		614		24		13		651		—		124,710		125,361
Real estate:
Real estate – construction		1,828		548		331		2,707		—		413,861		416,568
Real estate – commercial		2,125		1,630		9,578		13,333		1,055		2,648,384		2,662,772
Real estate – residential		612		35		800		1,447		—		490,780		492,227
Real estate – HELOC		129		—		3,524		3,653		—		726,310		729,963
Consumer:
Consumer – credit card		2,256		2,089		468		4,813		—		286,757		291,570
Consumer – other		5,917		175		2,597		8,689		2,001		144,087		154,777
Leases		—		—		—		—		—		41,857		41,857
Total loans	$	19,302	$	7,324	$	61,152	$	87,778	$	3,056	$	9,339,927	$	9,430,761

	December 31, 2015
	30-89 Days Past Due		Greater than 90 Days Past Due		Current		Total Loans
PCI Loans
Commercial:
Commercial	$	—	$	—	$	—	$	—
Asset-based		—		—		—		—
Factoring		—		—		—		—
Commercial – credit card		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—
Real estate – commercial		—		1,055		—		1,055
Real estate – residential		—		—		—		—
Real estate – HELOC		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—
Consumer – other		58		105		1,838		2,001
Leases		—		—		—		—
Total PCI loans	$	58	$	1,160	$	1,838	$	3,056

The Company sold residential real estate loans with proceeds of $34.1 million and $58.1 million in the secondary market without recourse during the six months ended June 30, 2016 and June 30, 2015, respectively.

The Company has ceased the recognition of interest on loans with a carrying value of $58.4 million and $61.2 million at June 30, 2016 and December 31, 2015, respectively. Restructured loans totaled $42.6 million and $36.6 million at June 30, 2016 and December 31, 2015, respectively. Loans 90 days past due and still accruing interest amounted to $4.7 million and $7.3 million at June 30, 2016 and December 31, 2015, respectively. There was an insignificant amount of interest recognized on impaired loans during 2016 and 2015.

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UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (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. 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 current sound 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 Company 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 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.

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UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

This table provides an analysis of the credit risk profile of each loan class excluded from ASC 310-30 at June 30, 2016 and December 31, 2015 (in thousands):

Credit Exposure

Credit Risk Profile by Risk Rating

Originated and Non-PCI Loans

	Commercial				Asset-based				Factoring
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Non-watch list	$	4,058,989	$	3,880,109	$	195,329	$	198,903	$	100,201	$	90,449
Watch		161,686		105,539		—		—		—		—
Special Mention		44,302		29,397		22,409		18,163		341		237
Substandard		179,160		190,691		5,601		2,178		785		—
Total	$	4,444,137	$	4,205,736	$	223,339	$	219,244	$	101,327	$	90,686

	Real estate – construction				Real estate – commercial
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Non-watch list	$	526,469	$	415,258	$	2,884,897	$	2,561,401
Watch		4,897		370		44,388		51,774
Special Mention		—		—		11,526		22,544
Substandard		410		940		43,391		25,998
Total	$	531,776	$	416,568	$	2,984,202	$	2,661,717

Credit Exposure

Credit Risk Profile Based on Payment Activity

Originated and Non-PCI Loans

	Commercial – credit card				Real estate – residential				Real estate – HELOC
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Performing	$	145,340	$	125,348	$	478,101	$	491,427	$	738,314	$	726,439
Non-performing		19		13		537		800		3,389		3,524
Total	$	145,359	$	125,361	$	478,638	$	492,227	$	741,703	$	729,963
	Consumer – credit card				Consumer – other				Leases
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Performing	$	270,040	$	291,102	$	120,982	$	152,180	$	36,577	$	41,857
Non-performing		313		468		2,651		2,597		—		—
Total	$	270,353	$	291,570	$	123,633	$	154,777	$	36,577	$	41,857

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UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

This table provides an analysis of the credit risk profile of each loan class accounted for under ASC 310-30 at June 30, 2016 and December 31, 2015 (in thousands):

Credit Exposure

Credit Risk Profile by Risk Rating

PCI Loans

	Real estate – commercial
	June 30, 2016		December 31, 2015
Non-watch list	$	—	$	—
Watch		—		—
Special Mention		—		—
Substandard		992		1,055
Total	$	992	$	1,055

Credit Exposure

Credit Risk Profile Based on Payment Activity

PCI Loans

	Consumer – other
	June 30, 2016		December 31, 2015
Performing	$	1,230	$	2,001
Non-performing		—		—
Total	$	1,230	$	2,001

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

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UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

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.

Generally, the unsecured portion of a commercial or commercial real estate loan is charged off when, after analyzing the borrower’s financial condition, it is determined that the borrower is incapable of servicing the debt, little or no prospect for near term improvement exists, and no realistic and significant strengthening action is pending. For collateral dependent commercial or commercial real estate loans, an analysis is completed regarding the Company’s collateral position to determine if the amounts due from the borrower are in excess of the calculated current fair value of the collateral. Specific allocations of the allowance for loan losses are made for any collateral deficiency. If a collateral deficiency is ultimately deemed to be uncollectible, the amount is charged off. Revolving commercial loans (such as commercial credit cards) which are past due 90 cumulative days are classified as a loss and charged off.

Generally, a consumer loan, or a portion thereof, is charged off in accordance with regulatory guidelines which provide that such loans be charged off when the Company becomes aware of the loss, such as from a triggering event that may include, but is not limited to, new information about a borrower’s intent and ability to repay the loan, bankruptcy, fraud, or death. However, the charge-off timeframe should not exceed the specified delinquency time frames, which state that closed-end retail loans (such as real estate mortgages, home equity loans and consumer installment loans) that become past due 120 cumulative days and open-end retail loans (such as home equity lines of credit and consumer credit cards) that become past due 180 cumulative days are classified as a loss and charged off.

19

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (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 the three and six months ended June 30, 2016 (in thousands):

	Three Months Ended June 30, 2016
	Commercial			Real estate			Consumer			Leases			Total
Allowance for loan losses:
Beginning balance	$	61,308		$	9,909		$	9,060		$	121		$	80,398
Charge-offs		(800	)		(1,351	)		(2,101	)		—			(4,252	)
Recoveries		859			187			474			—			1,520
Provision		3,194			1,938			1,886			(18	)		7,000
Ending balance	$	64,561		$	10,683		$	9,319		$	103		$	84,666
	Six Months Ended June 30, 2016
	Commercial			Real estate			Consumer			Leases			Total
Allowance for loan losses:
Beginning balance	$	63,847		$	8,220		$	8,949		$	127		$	81,143
Charge-offs		(5,875	)		(2,796	)		(4,616	)		—			(13,287	)
Recoveries		3,348			331			1,131			—			4,810
Provision		3,241			4,928			3,855			(24	)		12,000
Ending balance	$	64,561		$	10,683		$	9,319		$	103		$	84,666
Ending balance: individually evaluated for impairment	$	4,714		$	26		$	—		$	—		$	4,740
Ending balance: collectively evaluated for impairment		59,847			10,657			9,319			103			79,926
Loans:
Ending balance: loans	$	4,914,162		$	4,737,311		$	395,216		$	36,577		$	10,083,266
Ending balance: individually evaluated for impairment		58,270			6,338			2,578			—			67,186
Ending balance: collectively evaluated for impairment		4,855,892			4,729,981			391,408			36,577			10,013,858
Ending balance: PCI Loans		—			992			1,230			—			2,222

20

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2015 (in thousands):

	Three Months Ended June 30, 2015
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	55,659		$	11,912		$	9,780		$	128	$	77,479
Charge-offs		(3,088	)		(68	)		(2,446	)		—		(5,602	)
Recoveries		89			77			678			—		844
Provision		6,718			(3,029	)		1,276			35		5,000
Ending balance	$	59,378		$	8,892		$	9,288		$	163	$	77,721
	Six Months Ended June 30, 2015
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	55,349		$	10,725		$	9,921		$	145	$	76,140
Charge-offs		(3,500	)		(100	)		(5,150	)		—		(8,750	)
Recoveries		899			92			1,340			—		2,331
Provision		6,630			(1,825	)		3,177			18		8,000
Ending balance	$	59,378		$	8,892		$	9,288		$	163	$	77,721
Ending balance: individually evaluated for impairment	$	1,266		$	295		$	—		$	—	$	1,561
Ending balance: collectively evaluated for impairment		58,112			8,597			9,288			163		76,160
Loans:
Ending balance: loans	$	4,579,611		$	3,915,506		$	380,938		$	40,073	$	8,916,128
Ending balance: individually evaluated for impairment		32,818			9,113			1,240			—		43,171
Ending balance: collectively evaluated for impairment		4,544,303			3,903,880			377,009			40,073		8,865,265
Ending balance: PCI Loans		2,490			2,513			2,689			—		7,692

21

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

Impaired Loans

This table provides an analysis of impaired loans by class at June 30, 2016 and December 31, 2015 (in thousands):

	As of June 30, 2016
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	64,008	$	37,994	$	20,276	$	58,270	$	4,714	$	64,586
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		962		311		115		426		26		437
Real estate – commercial		7,839		5,630		—		5,630		—		5,512
Real estate – residential		364		282		—		282		—		707
Real estate – HELOC		—		—		—		—		—		132
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		2,578		2,578		—		2,578		—		2,582
Leases		—		—		—		—		—		—
Total	$	75,751	$	46,795	$	20,391	$	67,186	$	4,740	$	73,956

	As of December 31, 2015
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	72,739	$	40,648	$	27,356	$	68,004	$	5,668	$	41,394
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		782		331		118		449		42		802
Real estate – commercial		7,117		4,891		1,275		6,166		154		7,768
Real estate – residential		1,054		939		—		939		—		1,433
Real estate – HELOC		214		193		—		193		—		162
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		2,574		2,574		—		2,574		—		1,795
Leases		—		—		—		—		—		—
Total	$	84,480	$	49,576	$	28,749	$	78,325	$	5,864	$	53,354

22

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

Troubled Debt Restructurings

A loan modification is considered a troubled debt restructuring (TDR) when a concession has 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.

Purchased loans restructured after acquisition are not considered or reported as troubled debt restructurings if the loans evidenced credit deterioration as of the Acquisition Date and are accounted for in pools. For the three and six months ended June 30, 2016, no purchased loans were modified as troubled debt restructurings after the Acquisition Date.

The Company had $18 thousand and $293 thousand in commitments to lend to borrowers with loan modifications classified as TDRs as of June 30, 2016 and June 30, 2015, respectively. The Company monitors loan payments on an on-going basis to determine if a loan is considered to have a payment default. Determination of payment default involves analyzing the economic conditions that exist for each customer and their ability to generate positive cash flows during the loan term. During the six month period ended June 30, 2015, the Company had one commercial real estate loan classified as a TDR with a payment default totaling $178 thousand. A specific valuation allowance for the full amount of this loan had previously been established within the Company’s allowance for loan losses, and this loan was charged off against the allowance for loan losses during that period.

This table provides a summary of loans restructured by class during the three and six months ended June 30, 2016 (in thousands):

	Three Months Ended June 30, 2016						Six Months Ended June 30, 2016
	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		—	$	—	$	—		2	$	12,056	$	12,056
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—		—		—
Real estate – commercial		—		—		—		—		—		—
Real estate – residential		—		—		—		—		—		—
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		—		—		—		—		—		—
Leases		—		—		—		—		—		—
Total		—	$	—	$	—		2	$	12,056	$	12,056

23

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

This table provides a summary of loans restructured by class during the three and six months ended June 30, 2015 (in thousands):

	Three Months Ended June 30, 2015						Six Months Ended June 30, 2015
	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		14	$	19,463	$	19,463		14	$	19,463	$	19,463
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—		—		—
Real estate – commercial		—		—		—		—		—		—
Real estate – residential		1		121		121		1		121		121
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		—		—		—		—		—		—
Leases		—		—		—		—		—		—
Total		15	$	19,584	$	19,584		15	$	19,584	$	19,584

5. Securities

Securities Available for Sale

This table provides detailed information about securities available for sale at June 30, 2016 and December 31, 2015 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
June 30, 2016
U.S. Treasury	$	362,766	$	576	$	(5	)	$	363,337
U.S. Agencies		421,149		507		(31	)		421,625
Mortgage-backed		3,553,661		53,444		(6,930	)		3,600,175
State and political subdivisions		2,257,535		48,687		(243	)		2,305,979
Corporates		80,044		85		(66	)		80,063
Total	$	6,675,155	$	103,299	$	(7,275	)	$	6,771,179
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
December 31, 2015
U.S. Treasury	$	350,354	$	1	$	(576	)	$	349,779
U.S. Agencies		667,414		7		(1,032	)		666,389
Mortgage-backed		3,598,115		12,420		(38,089	)		3,572,446
State and political subdivisions		2,116,543		23,965		(2,095	)		2,138,413
Corporates		80,585		—		(663	)		79,922
Total	$	6,813,011	$	36,393	$	(42,455	)	$	6,806,949

24

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

The following table presents contractual maturity information for securities available for sale at June 30, 2016 (in thousands):

	Amortized		Fair
	Cost		Value
Due in 1 year or less	$	931,783	$	932,836
Due after 1 year through 5 years		1,118,929		1,136,979
Due after 5 years through 10 years		861,965		887,760
Due after 10 years		208,817		213,429
Total		3,121,494		3,171,004
Mortgage-backed securities		3,553,661		3,600,175
Total securities available for sale	$	6,675,155	$	6,771,179

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 six months ended June 30, 2016, proceeds from the sales of securities available for sale were $598.7 million compared to $705.2 million for the same period in 2015. Securities transactions resulted in gross realized gains of $5.5 million and $8.4 million for the six months ended June 30, 2016 and 2015, respectively. The gross realized losses for the six months ended June 30, 2015 were $48 thousand.

Securities available for sale with a market value of $5.5 billion at June 30, 2016 and $5.9 billion at December 31, 2015 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 $1.5 billion at June 30, 2016 and $1.6 billion at December 31, 2015 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 June 30, 2016 and December 31, 2015 (in thousands):

June 30, 2016	Less than 12 months					12 months or more					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Description of Securities
U.S. Treasury	$	5,025	$	(5	)	$	—	$	—		$	5,025	$	(5	)
U.S. Agencies		45,635		(24	)		3,036		(7	)		48,671		(31	)
Mortgage-backed		204,221		(744	)		312,994		(6,186	)		517,215		(6,930	)
State and political subdivisions		131,455		(188	)		10,155		(55	)		141,610		(243	)
Corporates		8,748		(2	)		39,069		(64	)		47,817		(66	)
Total temporarily-impaired debt securities available for sale	$	395,084	$	(963	)	$	365,254	$	(6,312	)	$	760,338	$	(7,275	)

25

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

December 31, 2015	Less than 12 months					12 months or more					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Description of Securities
U.S. Treasury	$	344,556	$	(576	)	$	—	$	—		$	344,556	$	(576	)
U.S. Agencies		615,993		(1,032	)		—		—			615,993		(1,032	)
Mortgage-backed		2,056,316		(21,013	)		426,959		(17,076	)		2,483,275		(38,089	)
State and political subdivisions		479,197		(1,316	)		60,324		(779	)		539,521		(2,095	)
Corporates		29,126		(183	)		50,796		(480	)		79,922		(663	)
Total temporarily-impaired debt securities available for sale	$	3,525,188	$	(24,120	)	$	538,079	$	(18,335	)	$	4,063,267	$	(42,455	)

The unrealized losses in the Company’s investments in U.S. treasury obligations, U.S. government agencies, Government Sponsored Entity (GSE) 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 amortized cost. The Company expects to recover its cost basis in the securities and does not consider these investments to be other-than-temporarily impaired at June 30, 2016.

Securities Held to Maturity

The table below provides detailed information for securities held to maturity at June 30, 2016 and December 31, 2015 (in thousands):

			Net
	Amortized		Unrealized		Fair
	Cost		Gains		Value
June 30, 2016
State and political subdivisions	$	880,600	$	111,115	$	991,715
December 31, 2015
State and political subdivisions	$	667,106	$	24,273	$	691,379

The following table presents contractual maturity information for securities held to maturity at June 30, 2016 (in thousands):

	Amortized		Fair
	Cost		Value
Due in 1 year or less	$	16,268	$	18,321
Due after 1 year through 5 years		76,310		85,939
Due after 5 years through 10 years		481,148		541,859
Due after 10 years		306,874		345,596
Total securities held to maturity	$	880,600	$	991,715

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 six months ended June 30, 2016 or 2015.

26

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

Trading Securities

The net unrealized gains on trading securities at June 30, 2016 and June 30, 2015 were $93 thousand and $156 thousand, respectively, and were included in trading and investment banking income on the Consolidated Statements of Income.

Other Securities

The table below provides detailed information for Federal Reserve Bank (FRB) stock and Federal Home Loan Bank (FHLB) stock and other securities at June 30, 2016 and December 31, 2015 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
June 30, 2016
FRB and FHLB stock	$	33,667	$	—	$	—		$	33,667
Other securities – marketable		4		7,951		—			7,955
Other securities – non-marketable		23,974		730		(26	)		24,678
Total Other securities	$	57,645	$	8,681	$	(26	)	$	66,300
December 31, 2015
FRB and FHLB stock	$	33,215	$	—	$	—		$	33,215
Other securities – marketable		5		7,159		—			7,164
Other securities – non-marketable		23,855		964		—			24,819
Total Other securities	$	57,075	$	8,123	$	—		$	65,198

Investment in FRB stock is based on the capital structure of the investing bank, and investment in FHLB stock is mainly tied to the level of borrowings from the FHLB. These holdings are carried at cost. Other marketable and non-marketable securities include Prairie Capital Management (PCM) 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 $8.0 million at June 30, 2016 and $7.2 million at December 31, 2015. The fair value of other non-marketable securities includes alternative investment securities of $1.9 million at June 30, 2016 and $2.0 million at December 31, 2015. 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.

6. Goodwill and Other Intangibles

Changes in the carrying amount of goodwill for the periods ended June 30, 2016 and December 31, 2015 by reportable segment are as follows (in thousands):

	Bank		Institutional Investment Management		Asset Servicing		Total
Balances as of January 1, 2016	$	161,341	$	47,529	$	19,476	$	228,346
Acquisition of Marquette		50		—		—		50
Balances as of June 30, 2016	$	161,391	$	47,529	$	19,476	$	228,396
Balances as of January 1, 2015	$	142,753	$	47,529	$	19,476	$	209,758
Acquisition of Marquette		18,588		—		—		18,588
Balances as of December 31, 2015	$	161,341	$	47,529	$	19,476	$	228,346

27

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

The following table lists the finite-lived intangible assets that continue to be subject to amortization as of June 30, 2016 and December 31, 2015 (in thousands):

	As of June 30, 2016
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	47,527	$	37,371	$	10,156
Customer relationships		107,460		77,933		29,527
Other intangible assets		4,198		3,470		728
Total intangible assets	$	159,185	$	118,774	$	40,411
	As of December 31, 2015
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	36,497	$	33,613	$	2,884
Core deposit intangible-Marquette acquisition		11,030		1,838		9,192
Customer relationships		104,560		73,496		31,064
Customer relationship-Marquette acquisition		2,900		338		2,562
Other intangible assets		3,247		2,841		406
Other intangible assets-Marquette acquisition		951		277		674
Total intangible assets	$	159,185	$	112,403	$	46,782

The following table has the aggregate amortization expense recognized in each period (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Aggregate amortization expense	$	3,145	$	2,569	$	6,371	$	5,324

The following table lists estimated amortization expense of intangible assets in future periods (in thousands):

For the six months ending December 31, 2016	$	5,920
For the year ending December 31, 2017		10,180
For the year ending December 31, 2018		7,202
For the year ending December 31, 2019		5,822
For the year ending December 31, 2020		4,487
For the year ending December 31, 2021		3,101

28

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

7. Securities Sold Under Agreements to Repurchase

The Company utilizes repurchase agreements to facilitate the needs of customers and to facilitate secured short-term funding needs. Repurchase agreements are stated at the amount of cash received in connection with the transaction. The Company monitors collateral levels on a continuous basis and may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with the Company’s safekeeping agents.

The table below presents the remaining contractual maturities of repurchase agreements outstanding at June 30, 2016, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands).

	As of June 30, 2016
	Remaining Contractual Maturities of the Agreements
	Overnight & Continuous		Over 90 Days		Total
Repurchase agreements, secured by:
U.S. Treasury	$	296,222	$	—	$	296,222
U.S. Agencies		1,241,328		3,100		1,244,428
Total repurchase agreements	$	1,537,550	$	3,100	$	1,540,650

8. Business Segment Reporting

The Company has strategically aligned its operations into the following three reportable segments (collectively, the Business Segments): Bank, Institutional Investment Management, and Asset Servicing. Senior executive officers regularly evaluate business segment financial results produced by the Company’s internal management reporting system in deciding how to allocate resources and assess performance for individual Business Segments. Previously, the Company had the following four Business Segments: Bank, Institutional Investment Management, Asset Servicing, and Payment Solutions. In the first quarter of 2016, the Company merged the Payments Solutions segment into the Bank segment to better reflect how the core businesses, products and services are being evaluated by management currently. The Company’s Payment Solutions leadership structure and financial performance assessments are now included in the Bank segment, and accordingly, the reportable segments were realigned to reflect these changes. For comparability purposes, amounts in all periods are based on methodologies in effect at March 31, 2016. 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, consumer and commercial credit and debit card, prepaid debit card solutions, healthcare services, institutional cash management, merchant bankcard, wealth management, brokerage, insurance, capital markets, investment banking, corporate trust, and correspondent banking.

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.

29

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

Business Segment Information

Segment financial results were as follows (in thousands):

	Three Months Ended June 30, 2016
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	118,613	$	—	$	2,597	$	121,210
Provision for loan losses		7,000		—		—		7,000
Noninterest income		80,044		19,127		22,276		121,447
Noninterest expense		145,736		18,858		20,649		185,243
Income before taxes		45,921		269		4,224		50,414
Income tax expense		11,939		77		1,101		13,117
Net income	$	33,982	$	192	$	3,123	$	37,297
Average assets	$	18,170,000	$	61,000	$	1,205,000	$	19,436,000
	Three Months Ended June 30, 2015
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	96,403	$	—	$	957	$	97,360
Provision for loan losses		5,000		—		—		5,000
Noninterest income		70,840		25,685		23,025		119,550
Noninterest expense		133,617		18,302		20,045		171,964
Income before taxes		28,626		7,383		3,937		39,946
Income tax expense		7,017		1,747		968		9,732
Net income	$	21,609	$	5,636	$	2,969	$	30,214
Average assets	$	16,384,000	$	71,000	$	958,000	$	17,413,000
	Six Months Ended June 30, 2016
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	233,885	$	—	$	5,217	$	239,102
Provision for loan losses		12,000		—		—		12,000
Noninterest income		155,483		37,542		44,772		237,797
Noninterest expense		289,104		36,088		40,795		365,987
Income before taxes		88,264		1,454		9,194		98,912
Income tax expense		22,643		367		2,360		25,370
Net income	$	65,621	$	1,087	$	6,834	$	73,542
Average assets	$	18,027,000	$	62,000	$	1,296,000	$	19,385,000
	Six Months Ended June 30, 2015
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	185,764	$	—	$	1,954	$	187,718
Provision for loan losses		8,000		—		—		8,000
Noninterest income		145,529		52,769		46,459		244,757
Noninterest expense		258,796		36,262		41,319		336,377
Income before taxes		64,497		16,507		7,094		88,098
Income tax expense		17,732		4,497		1,890		24,119
Net income	$	46,765	$	12,010	$	5,204	$	63,979
Average assets	$	16,101,000	$	73,000	$	950,000	$	17,124,000

30

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

9. Acquisition

On May 31, 2015, the Company acquired 100% of the outstanding common shares of Marquette Financial Companies. Marquette was a privately held financial services company with a portfolio of businesses that operated thirteen branches in Arizona and Texas, two national commercial specialty-lending businesses focused on asset-based lending and accounts receivable factoring, and an asset-management firm. As a result of the acquisition, the Company increased its presence in Arizona and Texas and supplemented the Company’s commercial-banking services with factoring and asset-based lending businesses. As of the close of trading on the Acquisition Date, the beneficial owners of Marquette received 9.2295 shares of the Company’s common stock for each share of Marquette common stock owned at that date (approximately 3.47 million shares total). The market value of the shares of the Company’s common stock issued at the effective time of the merger was approximately $179.7 million, based on the Company’s closing stock price of $51.79 on May 29, 2015. The transaction was accounted for using the purchase method of accounting in accordance with FASB ASC Topic 805, Business Combinations. Accordingly, the purchase price was allocated based on the estimated fair market values of the assets and liabilities acquired.

The following table summarizes the net assets acquired (at fair value) and consideration transferred for Marquette (in thousands, except for per share data):

	Fair Value May 31, 2015
Assets
Loans	$	980,404
Investment securities		177,694
Cash and due from banks		95,351
Premises and equipment, net		11,508
Identifiable intangible assets		14,881
Other assets		32,336
Total assets acquired		1,312,174
Liabilities
Noninterest-bearing deposits		226,161
Interest-bearing deposits		708,675
Short-term debt		112,133
Long-term debt		89,971
Other liabilities		14,135
Total liabilities assumed		1,151,075
Net identifiable assets acquired		161,099
Goodwill acquired		18,638
Net assets acquired	$	179,737
Consideration:
Company’s common shares issued		3,470
Purchase price per share of the Company’s common stock	$	51.79
Fair value of total consideration transferred	$	179,737

In the acquisition, the Company purchased $980.4 million of loans at fair value. All non-performing loans and select other classified loan relationships considered by management to be credit impaired are accounted for pursuant to ASC Topic 310-30, as previously discussed within Note 4, “Loans and Allowance for Loan Losses.”

31

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

The Company assumed long-term debt obligations with an aggregate balance of $103.1 million and an aggregate fair value of $65.5 million as of the Acquisition Date payable to four unconsolidated trusts (Marquette Capital Trust I, Marquette Capital Trust II, Marquette Capital Trust III, and Marquette Capital Trust IV) that have issued trust preferred securities. Interest rates on trust preferred securities trusts are tied to the three-month LIBOR rate with spreads ranging from 133 basis points to 160 basis points and reset quarterly. The trust preferred securities have maturity dates ranging from January 2036 to September 2036.

The amount of goodwill arising from the acquisition reflects the Company’s increased market share and related synergies that are expected to result from combining the operations of UMB and Marquette. All of the goodwill was assigned to the Bank segment. In accordance with ASC 350, Intangibles-Goodwill and Other, goodwill will not be amortized but will be subject to at least an annual impairment test. As the Company acquired tax deductible goodwill in excess of the amount reported in the consolidated financial statements, the goodwill is expected to be deductible for tax purposes. The fair value of the acquired identifiable intangible assets of $14.9 million is comprised of a core deposit intangible of $11.0 million, customer lists of $2.9 million and non-compete agreements of $1.0 million.

The results of operations of Marquette are included in the results of operations of the Company subsequent to the Acquisition Date. For the six months ended June 30, 2016, acquisition expenses recognized in Noninterest expense in the Company’s Consolidated Statements of Income totaled $4.0 million. This total included $880 thousand of severance in Salaries and employee benefits and $1.6 million in Legal and consulting fees.

10. 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):

	June 30,		December 31,
	2016		2015
Commitments to extend credit for loans (excluding credit card loans)	$	6,406,215	$	6,671,794
Commitments to extend credit under credit card loans		2,729,837		2,986,581
Commercial letters of credit		6,024		11,541
Standby letters of credit		382,448		360,468
Futures contracts		1,300		—
Forward contracts		64,536		75,611
Spot foreign exchange contracts		6,350		10,391

32

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

11. 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 and liabilities. 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 Consolidated Balance Sheets

The Company’s derivative assets and derivative liabilities are located within Other assets and Other liabilities, respectively, on the Company’s Consolidated Balance Sheets. This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of June 30, 2016 and December 31, 2015 (in thousands):

	Asset Derivatives				Liability Derivatives
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Fair Value
Interest Rate Products:
Derivatives not designated as hedging instruments	$	23,199	$	11,700	$	24,212	$	11,921
Derivatives designated as hedging instruments		546		603		7,646		337
Total	$	23,745	$	12,303	$	31,858	$	12,258

Fair Value Hedges of Interest Rate Risk

The Company is exposed to changes in the fair value of certain of its fixed rate assets and liabilities due to changes in the benchmark interest rate, LIBOR. Interest rate swaps designated as fair value hedges involve either making fixed rate payments to a counterparty in exchange for the Company receiving variable rate payments, or making variable rate payments to a counterparty in exchange for the Company receiving fixed rate payments, over the life of the agreements without the exchange of the underlying notional amount. As of June 30, 2016, the Company had two interest rate swaps with a notional amount of $15.9 million that were designated as fair value hedges of interest rate risk associated with the Company’s fixed rate loan assets and brokered time deposits.

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.

Cash Flow Hedges of Interest Rate Risk

The Company is exposed to changes in the fair value of certain of its variable-rate liabilities due to changes in the benchmark interest rate, LIBOR. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of June 30, 2016, the Company had two

33

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

interest rate swaps with a notional amount of $51.5 million that were designated as cash flow hedges of interest rate risk associated with the Company’s variable rate subordinated debentures issued by Marquette Capital Trusts III and IV. For derivatives designated and that qualify as cash flow hedges, the effective portion of changes in fair value is recorded in accumulated other comprehensive income (AOCI) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly into earnings for the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk. During the three and six months ended June 30, 2016, the Company recognized net losses of $2.9 million and $7.0 million, respectively, in AOCI for the effective portion of the change in fair value of these cash flow hedges. During the three and six months ended June 30, 2016, the Company did not record any hedge ineffectiveness in earnings. Amounts reported in AOCI related to derivatives will be reclassified to Interest expense as interest payments are received or paid on the Company’s derivatives. The Company does not expect to reclassify any amounts from AOCI to Interest expense during the next 12 months as the Company’s derivatives are effective after December 2018. As of June 30, 2016, the Company is hedging its exposure to the variability in future cash flows for forecasted transactions over a maximum period of 20.25 years.

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 June 30, 2016, the Company had 48 interest rate swaps with an aggregate notional amount of $574.2 million related to this program. During the three and six months ended June 30, 2016, the Company recognized $440 thousand and $792 thousand of net losses, respectively, related to changes in fair value of these swaps. During the three and six months ended June 30, 2015, the Company recognized $20 thousand of net gains and $86 thousand of net losses, respectively, related to changes in the fair value of these swaps.

Effect of Derivative Instruments on the Consolidated Statements of Income

This table provides a summary of the amount of gain or loss recognized in other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2016 and June 30, 2015 (in thousands):

	Amount of Gain (Loss) Recognized
	For the Three Months Ended						For the Six Months Ended
	June 30, 2016			June 30, 2015			June 30, 2016			June 30, 2015
Interest Rate Products
Derivatives not designated as hedging instruments	$	(440	)	$	20		$	(792	)	$	(86	)
Total	$	(440	)	$	20		$	(792	)	$	(86	)
Interest Rate Products
Derivatives designated as hedging instruments:
Fair value adjustments on derivatives	$	(138	)	$	121		$	(331	)	$	6
Fair value adjustments on hedged items		137			(114	)		329			(4	)
Total	$	(1	)	$	7		$	(2	)	$	2

34

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

This table provides a summary of the amount of gain or loss recognized in AOCI in the Consolidated Statements of Comprehensive Income related to the Company’s derivative assets and liabilities as of June 30, 2016 and June 30, 2015 (in thousands):

	Amount of Loss Recognized in Other Comprehensive Income on Derivatives (Effective Portion)
	For the Three Months Ended					For the Six Months Ended
Derivatives in Cash Flow Hedging Relationships	June 30, 2016			June 30, 2015		June 30, 2016			June 30, 2015
Interest rate products
Derivatives designated as cash flow hedging instruments	$	(2,894	)	$	—	$	(7,034	)	$	—
Total	$	(2,894	)	$	—	$	(7,034	)	$	—

Credit-risk-related Contingent Features

The Company has agreements with certain of its derivative counterparties that contain a provision that 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 June 30, 2016, the termination value of derivatives in a net liability position, which includes accrued interest, related to these agreements was $32.1 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 June 30, 2016, it could have been required to settle its obligations under the agreements at the termination value.

12. Fair Value Measurements

The following table presents information about the Company’s assets measured at fair value on a recurring basis as of June 30, 2016, 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.

35

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

Assets measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 (in thousands):

	Fair Value Measurement at June 30, 2016
Description	June 30, 2016		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		2,351		—		2,351		—
Mortgage-backed		6,569		—		6,569		—
State and political subdivisions		19,084		—		19,084		—
Trading - other		27,907		27,790		117		—
Trading securities		56,311		28,190		28,121		—
U.S. Treasury		363,337		363,337		—		—
U.S. Agencies		421,625		—		421,625		—
Mortgage-backed		3,600,175		—		3,600,175		—
State and political subdivisions		2,305,979		—		2,305,979		—
Corporates		80,063		80,063		—		—
Available for sale securities		6,771,179		443,400		6,327,779		—
Company-owned life insurance		36,479		—		36,479		—
Bank-owned life insurance		206,508		—		206,508		—
Derivatives		23,745		—		23,745		—
Total	$	7,094,222	$	471,590	$	6,622,632	$	—
Liabilities
Deferred compensation	$	37,715	$	37,715	$	—	$	—
Derivatives		31,858		—		31,858		—
Total	$	69,573	$	37,715	$	31,858	$	—

36

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

	Fair Value Measurement at December 31, 2015
Description	December 31, 2015		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		1,309		—		1,309		—
State and political subdivisions		10,200		—		10,200		—
Trading - other		17,708		17,708		—		—
Trading securities		29,617		18,108		11,509		—
U.S. Treasury		349,779		349,779		—		—
U.S. Agencies		666,389		—		666,389		—
Mortgage-backed		3,572,446		—		3,572,446		—
State and political subdivisions		2,138,413		—		2,138,413		—
Corporates		79,922		79,922		—		—
Available for sale securities		6,806,949		429,701		6,377,248		—
Company-owned life insurance		31,205		—		31,205		—
Bank-owned life insurance		202,991		—		202,991		—
Derivatives		12,303		—		12,303		—
Total	$	7,083,065	$	447,809	$	6,635,256	$	—
Liabilities
Deferred compensation	$	32,937	$	32,937	$	—	$	—
Contingent consideration liability		17,718		—		—		17,718
Derivatives		12,258		—		12,258		—
Total	$	62,913	$	32,937	$	12,258	$	17,718

The following table reconciles the beginning and ending balances of the contingent consideration liability for the six months ended June 30, 2016 and 2015 (in thousands):

	Six Months Ended June 30,
	2016			2015
Beginning balance	$	17,718		$	53,411
Payment of contingent consideration on acquisitions		(17,784	)		(18,702	)
Fair value adjustments		66			(3,418	)
Ending balance	$	—		$	31,291

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:

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.

Securities Available for Sale 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.

37

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

Prices are provided by third-party pricing services and are based on observable market inputs. On an annual basis, the Company compares a sample of these prices to other independent sources for the same securities. Additionally, throughout the year if securities are sold, comparisons are made between the pricing services prices and the market prices at which the securities were sold. Variances are analyzed, and, if appropriate, additional research is conducted with the third-party pricing services. Based on this research, the pricing services may affirm or revise their quoted price. No significant adjustments have been made to the prices provided by the pricing services. The pricing services also provide documentation on an ongoing basis that includes reference data, inputs and methodology by asset class, which is reviewed to ensure that security placement within the fair value hierarchy is appropriate.

Company-owned Life Insurance Fair value is equal to the cash surrender value of the life insurance policies.

Bank-owned Life Insurance Fair value is equal to the cash surrender value of the life insurance policies.

Derivatives Fair values are determined using valuation techniques including discounted cash flow analysis on the expected cash flows from 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.

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 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 expense.

Assets measured at fair value on a non-recurring basis as of June 30, 2016 and December 31, 2015 (in thousands):

	Fair Value Measurement at June 30, 2016 Using
Description	June 30, 2016		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 Six Months Ended June 30
Impaired loans	$	15,651	$	—	$	—	$	15,651	$	1,124
Other real estate owned		194		—		—		194		—
Total	$	15,845	$	—	$	—	$	15,845	$	1,124

38

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

	Fair Value Measurement at December 31, 2015 Using
Description	December 31, 2015		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	$	22,885	$	—	$	—	$	22,885	$	(3,957	)
Other real estate owned		3,269		—		—		3,269		—
Total	$	26,154	$	—	$	—	$	26,154	$	(3,957	)

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 write-downs that are based on the external appraised value of the underlying collateral. 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. 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, third-party price opinions, or internally developed pricing methods and those measurements are classified as Level 3.

Goodwill Valuation of goodwill to determine impairment is performed annually, or more frequently if there is an event or circumstance that would indicate impairment may have occurred. The process involves calculations to determine the fair value of each reporting unit on a stand-alone basis. A combination of formulas using current market multiples, based on recent sales of financial institutions within the Company’s geographic marketplace, is used to estimate the fair value of each reporting unit. That fair value is compared to the carrying amount of the reporting unit, including its recorded goodwill. Impairment is considered to have occurred if the fair value of the reporting unit is lower than the carrying amount of the reporting unit. The fair value of the Company’s common stock relative to its computed book value per share is also considered as part of the overall evaluation. These measurements are 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 June 30, 2016 and December 31, 2015 are as follows (in millions):

39

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

	Fair Value Measurement at June 30, 2016 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
Cash and short-term investments	$	931.6	$	744.9	$	186.7	$	—	$	931.6
Securities available for sale		6,771.2		443.4		6,327.8		—		6,771.2
Securities held to maturity		880.6				991.7		—		991.7
Trading securities		56.3		28.2		28.1		—		56.3
Other securities		66.3				66.3		—		66.3
Loans (exclusive of allowance for loan loss)		10,093.8				10,196.5		—		10,196.5
Derivatives		23.7				23.7		—		23.7
FINANCIAL LIABILITIES
Demand and savings deposits		14,503.9		14,503.9				—		14,503.9
Time deposits		1,144.8				1,144.8		—		1,144.8
Other borrowings		1,793.6		247.9		1,545.7		—		1,793.6
Long-term debt		85.3				85.9		—		85.9
Derivatives		31.9				31.9		—		31.9
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										2.8
Commercial letters of credit										0.1
Standby letters of credit										1.2
	Fair Value Measurement at December 31, 2015 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
Cash and short-term investments	$	1,154.7	$	997.0	$	157.7	$	—	$	1,154.7
Securities available for sale		6,806.9		429.7		6,377.2		—		6,806.9
Securities held to maturity		667.1		—		691.4		—		691.4
Trading securities		29.6		18.1		11.5		—		29.6
Other securities		65.2		—		65.2		—		65.2
Loans (exclusive of allowance for loan loss)		9,431.3		—		9,452.1		—		9,452.1
Derivatives		12.3		—		12.3		—		12.3
FINANCIAL LIABILITIES
Demand and savings deposits		13,836.9		13,836.9		—		—		13,836.9
Time deposits		1,255.9		—		1,255.9		—		1,255.9
Other borrowings		1,823.1		66.9		1,756.2		—		1,823.1
Long-term debt		86.1		—		86.4		—		86.4
Derivatives		12.3		—		12.3		—		12.3
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										4.9
Commercial letters of credit										0.3
Standby letters of credit										2.6

Cash and short-term investments The carrying amounts of cash and due from banks, federal funds sold and resell agreements are reasonable estimates of their fair values.

40

UMB FINANCIAL CORPORATION

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016 (UNAUDITED)

Securities held to maturity Fair value of held-to-maturity securities are estimated by discounting the future cash flows using current market rates.

Other securities Amount consists of FRB and FHLB stock held by the Company, PCM equity-method investments, and other miscellaneous investments. The fair value of FRB and FHLB 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 or FHLB. The fair value of PCM 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.

Demand and savings deposits The fair value of demand deposits and savings accounts is the amount payable on demand at June 30, 2016 and December 31, 2015.

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.

Other borrowings The carrying amounts of federal funds purchased, repurchase agreements and other short-term debt are reasonable estimates of their fair value because of the short-term nature of their 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.

41

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

This Management’s Discussion and Analysis of Financial Condition and Results of Operations highlights the material changes in the results of operations and changes in financial condition of the Company for the three-month and six-month periods ended June 30, 2016. It should be read in conjunction with the accompanying consolidated financial statements, notes to consolidated financial statements and other financial statistics appearing elsewhere in this Form 10-Q and the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. 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 Securities and Exchange Commission (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 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;

42

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

• 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, control expenses, or attract and 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) and Management’s Discussion and Analysis of Financial Condition and Results of Operations (Item 2) in this Form 10-Q, in the Risk Factors (Item 1A) in the Form 10-K, or as 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.

43

Overview

The Company focuses on the following four core strategic objectives. Management believes these strategies will guide our efforts to achieve our vision to deliver the unparalleled customer experience, all while maintaining a focus to improve net income and strengthen the balance sheet.

The first strategic objective is a focus on improving operating efficiencies. During the second half of 2015, an in-depth review of the organization was completed to identify efficiencies. The Company plans to utilize the results of this review to simplify our organizational and reporting structures, streamline back office functions and take advantage of synergies among various platforms and distribution networks. The Company identified a total of $32.9 million in annual savings that are expected to be realized in the future as a result of the elimination of certain employee positions and business process improvements. This total does not include the additional cost savings to be recognized related to the Marquette integration, or any ongoing efficiencies identified through our normal course of business. The Company continues to invest in technological advances that will help management drive operating efficiencies in the future through improved data analysis and automation. The Company also continues to evaluate core systems and will invest in enhancements that it believes will yield operating efficiencies.

The second strategic objective is a focus on net interest income through loan and deposit growth. During the second quarter of 2016, the Company continued to make progress on this strategy as illustrated by an increase in net interest income of $23.9 million, or 24.5 percent, from the same period in 2015. The Company has continued to show increased net interest income in a historically low interest rate environment through the effects of increased volume of average earning assets and a low cost of funds in its Consolidated Balance Sheets. On May 31, 2015, the Marquette acquisition was completed, which added earning assets with an acquired value of $1.2 billion to the Company’s Consolidated Balance Sheets. Average earning assets increased $2.1 billion, or 13.2 percent from June 30, 2015. The funding for these assets was driven primarily by a 19.4 percent increase in average interest-bearing liabilities and a 4.0 percent increase in average noninterest-bearing demand deposits. Average loan balances increased $1.8 billion, or 22.5 percent compared to the same period in 2015. Net interest margin, on a tax-equivalent basis, increased 27 basis points compared to the same period in 2015.

The third strategic objective is to grow the Company’s fee-based businesses. As the industry continues to experience economic uncertainty, the Company has continued to emphasize its fee-based operations. By maintaining a diverse source of revenues, this strategy has helped reduce the Company’s exposure to sustained low interest rates. During the second quarter of 2016, noninterest income increased $1.9 million, or 1.6 percent, to $121.4 million for the three months ended June 30, 2016, compared to the same period in 2015. This change is discussed in greater detail below under Noninterest Income. The Company continues to emphasize its asset management, brokerage, bankcard services, healthcare services, and treasury management businesses. At June 30, 2016, noninterest income represented 50.0 percent of total revenues, compared to 55.1 percent at June 30, 2015.

The fourth strategic objective is a focus on capital management. The Company places a significant emphasis on maintaining 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, evaluating acquisition opportunities that complement the strategies, increasing dividends over time, and properly utilizing a share repurchase program. At June 30, 2016, the Company had $2.0 billion in total shareholders’ equity. This is an increase of $145.7 million, or 7.8 percent, compared to total shareholders’ equity at June 30, 2015. At June 30, 2016, the Company had a total risk-based capital ratio of 12.70 percent. The Company repurchased 12,352 shares of common stock at an average price of $56.75 per share during the second quarter of 2016.

Earnings Summary

The following is a summary regarding the Company’s earnings for the second quarter of 2016. The changes identified in the summary are explained in greater detail below. The Company recorded consolidated net income of $37.3 million for the three-month period ended June 30, 2016, compared to $30.2 million for the same period a year earlier. This represents a 23.4 percent increase over the three-month period ended June 30, 2015. Basic earnings per share for the second quarter of 2016 were $0.76 per share ($0.76 per share fully-diluted)

44

compared to $0.65 per share ($0.65 per share fully-diluted) for the second quarter of 2015. Return on average assets and return on average common shareholders’ equity for the three-month period ended June 30, 2016 were 0.77 and 7.58 percent, respectively, compared to 0.70 and 6.95 percent, respectively, for the three-month period ended June 30, 2015.

The Company recorded consolidated net income of $73.5 million for the six-month period ended June 30, 2016, compared to $64.0 million for the same period a year earlier. This represents a 14.9 percent increase over the six-month period ended June 30, 2015. Basic earnings per share for the six-month period ended June 30, 2016 were $1.51 per share ($1.50 per share fully-diluted) compared to $1.40 per share ($1.39 per share fully-diluted) for the same period in 2015. Return on average assets and return on average common shareholders’ equity for the six-month period ended June 30, 2016 were 0.76 and 7.54 percent, respectively, compared to 0.75 and 7.55 percent for the same period in 2015.

Net interest income for the three and six-month periods ended June 30, 2016 increased $23.9 million, or 24.5 percent, and $51.4 million, or 27.4 percent, respectively, compared to the same periods in 2015. For the three-month period ended June 30, 2016, average earning assets increased by $2.1 billion, or 13.2 percent, and for the six-month period ended June 30, 2016, they increased by $2.2 billion, or 13.7 percent, compared to the same periods in 2015. Net interest margin, on a tax-equivalent basis, increased to 2.86 percent and 2.82 percent for the three and six-month periods ended June 30, 2016, compared to 2.59 percent and 2.53 percent for the same periods in 2015. The Marquette acquisition added earning assets with an acquired value of $1.2 billion primarily from loan balances with an acquired value of $980.4 million at May 31, 2015. Marquette also added interest-bearing liabilities with an acquired value of $910.8 million primarily from interest-bearing deposits of $708.7 million at May 31, 2015.

The provision for loan losses increased $2.0 million to $7.0 million for the three-month period ended June 30, 2016, and increased by $4.0 million to $12.0 million for the six-month period ended June 30, 2016, compared to the same periods in 2015. This increase is a 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 to 0.84 percent as of June 30, 2016, compared to 0.87 percent at June 30, 2015. 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” in the Form 10-K.

Noninterest income increased by $1.9 million, or 1.6 percent, for the three-month period ended June 30, 2016, and decreased by $7.0 million, or 2.8 percent, for the six-month period ended June 30, 2016, compared to the same periods one year ago. These changes are discussed in greater detail below under Noninterest Income.

Noninterest expense increased by $13.3 million, or 7.7 percent, for the three-month period ended June 30, 2016, and increased by $29.6 million, or 8.8 percent, for the six-month period ended June 30, 2016, compared to the same periods in 2015. 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. As noted above, the impacts of the Marquette acquisition are included in these results. For the three-month period ended June 30, 2016, average earning assets increased by $2.1 billion, or 13.2 percent, and for the six-month period ended June 30, 2016, they increased by $2.2 billion, or 13.7 percent, compared to the same periods in 2015. Net interest margin, on a tax-equivalent basis, increased to 2.86 percent and 2.82 percent for the three and six-months periods ended June 30, 2016, compared to 2.59 percent and 2.53 percent for the same periods in 2015.

Table 1 shows the impact of earning asset rate changes compared to changes in the cost of interest-bearing liabilities. As illustrated in this table, net interest spread and margin for the three months ended June 30, 2016 increased by 27 basis points compared to the same period in 2015. Net interest spread and margin for the six months ended June 30, 2016 increased by 28 and 29 basis points, respectively, compared to the same period in 2015. These results are primarily due to favorable volume and rate variances on loans. The combined impact of these

45

variances has led to an increase in interest income and an increase in interest expense, or an increase in the Company’s net interest income as compared to results for the same periods in 2015. 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 an increase in net interest income.

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 2.84 percent for the three-month period ended June 30, 2016 and 2.56 percent for the same period in 2015. The average yield on earning assets without the tax equivalent basis adjustment would have been 2.81 percent for the six-month period ended June 30, 2016 and 2.49 percent for the same period in 2015.

	Three Months Ended June 30,
	2016						2015
	Average Balance			Average Yield/Rate			Average Balance			Average Yield/Rate
Assets
Loans, net of unearned interest	$	9,887,404			3.82	%	$	8,071,991			3.55	%
Securities:
Taxable		4,676,230			1.62			4,974,668			1.55
Tax-exempt		2,987,217			2.86			2,407,759			2.72
Total securities		7,663,447			2.11			7,382,427			1.93
Federal funds and resell agreements		181,094			1.43			69,053			0.88
Interest-bearing due from banks		313,427			0.56			414,446			0.42
Other earning assets		40,996			2.09			37,063			1.70
Total earning assets		18,086,368			3.01			15,974,980			2.70
Allowance for loan losses		(81,699	)					(77,667	)
Other assets		1,431,600						1,515,687
Total assets	$	19,436,269					$	17,413,000
Liabilities and Shareholders’ Equity
Interest-bearing deposits	$	9,315,851			0.18	%	$	7,924,696			0.18	%
Federal funds and repurchase agreements		2,163,264			0.30			1,715,836			0.11
Borrowed funds		91,034			4.09			49,827			4.28
Total interest-bearing liabilities		11,570,149			0.23			9,690,359			0.19
Noninterest-bearing demand deposits		5,723,840						5,504,333
Other liabilities		162,390						473,676
Shareholders’ equity		1,979,890						1,744,632
Total liabilities and shareholders’ equity	$	19,436,269					$	17,413,000
Net interest spread					2.78	%					2.51	%
Net interest margin					2.86						2.59

46

	Six Months Ended June 30,
	2016						2015
	Average			Average			Average			Average
	Balance			Yield/Rate			Balance			Yield/Rate
Assets
Loans, net of unearned interest	$	9,718,848			3.82	%	$	7,772,709			3.52	%
Securities:
Taxable		4,751,526			1.62			4,921,907			1.56
Tax-exempt		2,896,366			2.84			2,331,422			2.73
Total securities		7,647,892			2.08			7,253,329			1.93
Federal funds and resell agreements		163,943			1.41			51,793			0.79
Interest-bearing due from banks		481,031			0.55			759,238			0.34
Other earning assets		33,677			1.67			33,661			1.76
Total earning assets		18,045,391			2.97			15,870,730			2.63
Allowance for loan losses		(81,259	)					(77,124	)
Other assets		1,420,465						1,330,476
Total assets	$	19,384,597					$	17,124,082
Liabilities and Shareholders’ Equity
Interest-bearing deposits	$	9,372,812			0.18	%	$	7,764,368			0.17	%
Federal funds and repurchase agreements		1,929,910			0.30			1,713,386			0.11
Borrowed funds		91,796			4.02			29,193			4.05
Total interest-bearing liabilities		11,394,518			0.23			9,506,947			0.17
Noninterest-bearing demand deposits		5,869,330						5,582,180
Other liabilities		160,173						325,066
Shareholders’ equity		1,960,576						1,709,889
Total liabilities and shareholders’ equity	$	19,384,597					$	17,124,082
Net interest spread					2.74	%					2.46	%
Net interest margin					2.82						2.53

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 $231.6 million for the three-month period and $287.1 million for the six-month period ended June 30, 2016 compared to the same periods in 2015, the benefit from interest free funds was relatively flat in the three-month and six-month periods due to increased yields on earning assets, offset by an increase in rates of interest-bearing liabilities.

47

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 June 30, 2016 and 2015									Six Months Ended June 30, 2016 and 2015
	Volume			Rate			Total			Volume			Rate			Total
Change in interest earned on:
Loans	$	17,102		$	5,451		$	22,553		$	37,228		$	11,637		$	48,865
Securities:
Taxable		(1,232	)		921			(311	)		(1,320	)		1,558			238
Tax-exempt		2,681			557			3,238			5,271			787			6,058
Federal funds sold and resell agreements		397			94			491			787			160			947
Interest-bearing due from banks		(141	)		144			3			(766	)		807			41
Trading		14			26			40			—			(3	)		(3	)
Interest income		18,821			7,193			26,014			41,200			14,946			56,146
Change in interest incurred on:
Interest-bearing deposits		608			6			614			1,422			199			1,621
Federal funds purchased and repurchase agreements		336			820			1,156			321			1,573			1,894
Other borrowed funds		417			(24	)		393			1,252			(5	)		1,247
Interest expense		1,361			802			2,163			2,995			1,767			4,762
Net interest income	$	17,460		$	6,391		$	23,851		$	38,205		$	13,179		$	51,384
ANALYSIS OF NET INTEREST MARGIN
	Three Months Ended June 30,									Six Months Ended June 30,
	2016			2015			Change			2016			2015			Change
Average earning assets	$	18,086,368		$	15,974,980		$	2,111,388		$	18,045,391		$	15,870,730		$	2,174,661
Interest-bearing liabilities		11,570,149			9,690,359			1,879,790			11,394,518			9,506,947			1,887,571
Interest-free funds	$	6,516,219		$	6,284,621		$	231,598		$	6,650,873		$	6,363,783		$	287,090
Free funds ratio (free funds to earning assets)		36.03	%		39.34	%		(3.31	)%		36.86	%		40.10	%		(3.24	)%
Tax-equivalent yield on earning assets		3.01			2.70			0.31			2.97			2.63			0.34
Cost of interest-bearing liabilities		0.23			0.19			0.04			0.23			0.17			0.06
Net interest spread		2.78			2.51			0.27			2.74			2.46			0.28
Benefit of interest-free funds		0.08			0.08			—			0.08			0.07			0.01
Net interest margin		2.86	%		2.59	%		0.27	%		2.82	%		2.53	%		0.29	%

48

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 $7.0 million and $12.0 million related to the provision for loan losses for the three and six-month periods ended June 30, 2016, compared to $5.0 million and $8.0 million for the same periods in 2015. As illustrated in Table 3 below, the ALL decreased to 0.84 percent of total loans as of June 30, 2016, compared to 0.87 percent of total loans as of the same period in 2015. As discussed above, these results include the impact of the acquisition of Marquette.

Table 3 presents a summary of the Company’s ALL for the six months ended June 30, 2016 and 2015, and for the year ended December 31, 2015. Net charge-offs were $8.5 million for the first six months of 2016, compared to $6.4 million for the same period in 2015. 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)

	Six Months Ended						Year Ended
	June 30,						December 31,
	2016			2015			2015
Allowance-January 1	$	81,143		$	76,140		$	76,140
Provision for loan losses		12,000			8,000			15,500
Charge-offs:
Commercial		(5,875	)		(3,500	)		(5,239	)
Consumer:
Credit card		(4,285	)		(4,618	)		(8,555	)
Other		(331	)		(532	)		(1,103	)
Real estate		(2,796	)		(100	)		(214	)
Total charge-offs		(13,287	)		(8,750	)		(15,111	)
Recoveries:
Commercial		3,348			899			1,824
Consumer:
Credit card		929			1,017			1,802
Other		202			323			667
Real estate		331			92			321
Total recoveries		4,810			2,331			4,614
Net charge-offs		(8,477	)		(6,419	)		(10,497	)
Allowance-end of period	$	84,666		$	77,721		$	81,143
Average loans, net of unearned interest	$	9,715,208		$	7,771,523		$	8,423,997
Loans at end of period, net of unearned interest		10,083,266			8,916,128			9,430,761
Allowance to loans at end of period		0.84	%		0.87	%		0.86	%
Allowance as a multiple of net charge-offs		4.97	x		6.00	x		7.73	x
Net charge-offs to:
Provision for loan losses		70.64	%		80.24	%		67.72	%
Average loans		0.18			0.17			0.12

49

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 of these products and services share common platforms and support structures.

Table 4

SUMMARY OF NONINTEREST INCOME (unaudited, dollars in thousands)

	Three Months Ended June 30,					Dollar Change			Percent Change
	2016		2015			16-15			16-15
Trust and securities processing	$	59,745	$	67,381		$	(7,636	)		(11.3	)%
Trading and investment banking		5,638		5,568			70			1.3
Service charges on deposits		22,420		21,625			795			3.7
Insurance fees and commissions		1,160		586			574			98.0
Brokerage fees		4,262		2,936			1,326			45.2
Bankcard fees		17,534		18,035			(501	)		(2.8	)
Gains on sales of securities available for sale, net		2,598		967			1,631			>100.0
Equity earnings (losses) on alternative investments		978		(1,125	)		2,103			(>100.0	)
Other		7,112		3,577			3,535			98.8
Total noninterest income	$	121,447	$	119,550		$	1,897			1.6	%
	Six Months Ended June 30,					Dollar Change			Percent Change
	2016		2015			16-15			16-15
Trust and securities processing	$	119,230	$	134,680		$	(15,450	)		(11.5	)%
Trading and investment banking		10,268		11,690			(1,422	)		(12.2	)
Service charges on deposits		43,881		43,166			715			1.7
Insurance fees and commissions		2,657		1,156			1,501			>100.0
Brokerage fees		8,447		5,790			2,657			45.9
Bankcard fees		35,550		34,218			1,332			3.9
Gains on sales of securities available for sale, net		5,531		8,303			(2,772	)		(33.4	)
Equity earnings (losses) on alternative investments		597		(1,967	)		2,564			(>100.0	)
Other		11,636		7,721			3,915			50.7
Total noninterest income	$	237,797	$	244,757		$	(6,960	)		(2.8	)%

Fee-based, or noninterest income (summarized in Table 4), increased by $1.9 million, or 1.6 percent, during the three months ended June 30, 2016, and decreased by $7.0 million, or 2.8 percent, during the six months ended June 30, 2016, compared to the same periods in 2015. 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 services, trust investments and investment management services, and servicing of mutual fund assets. The

50

decrease in these fees for the three and six-month periods compared to the same periods last year was primarily due to changes in three categories of income. First, advisory fee income from the Scout Funds for the three and six-month periods ended June 30, 2016, decreased by $7.4 million, or 46.9 percent, and $15.1 million, or 47.0 percent, respectively, compared to the same periods in 2015, due to declines in the underlying assets under management (AUM) for the respective periods. Additionally, the mix of AUM in the Institutional Investment Management segment has shifted to a higher percentage of fixed income versus equity as of June 30, 2016 compared to June 30, 2015. Second, fund administration and custody services fees for the three and six-month periods ended June 30, 2016, decreased by $0.9 million, or 3.7 percent, and $1.6 million, or 3.4 percent, respectively, due to a decrease in the underlying assets under administration. Third, institutional and personal investment management services increased by $0.5 million, or 2.2 percent, and $0.4 million, or 0.9 percent, for the three and six-month periods ended June 30, 2016, respectively. Since trust and securities processing fees are primarily asset-based, which are highly correlated to the change in market value of the assets, 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 fees for the three-month period ended June 30, 2016 increased $0.1 million, or 1.3 percent, while for the six-month period ended June 30, 2016, they decreased $1.4 million, or 12.2 percent. The income in this category is market driven and impacted by general increases or decreases in trading volume.

Service charges on deposits for the three and six-month periods ended June 30, 2016, increased $0.8 million, or 3.7 percent, and increased $0.7 million, or 1.7 percent, respectively. These increases were driven by higher healthcare service charges.

Brokerage fees for the three and six-month periods ended June 30, 2016, increased $1.3 million, or 45.2 percent, and increased $2.7 million, or 45.9 percent, respectively. These increases were driven by higher money market balances and the related 12b-1 fees.

Bankcard fees for the three and six-month periods ended June 30, 2016, decreased $0.5 million, or 2.8 percent, and increased $1.3 million, or 3.9 percent, respectively. The decrease for the three-month period was due to higher customer rebates and the increase in the six-month period was driven by higher interchange income.

During the three and six-month periods ended June 30, 2016, $2.6 million and $5.5 million in pre-tax gains were recognized on the sales of securities available for sale, compared to $1.0 million and $8.3 million for the same periods in 2015. 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 three and six-month periods ended June 30, 2016, gains of $1.0 million and $0.6 million of equity earnings on alternative investments were recognized on PCM investments, respectively, compared to losses of $1.1 million and $2.0 million for the same periods in 2015 due to changes in the underlying fund investments.

Other noninterest income for the three and six-month period ended June 30, 2016, increased $3.5 million, or 98.8 percent, and $3.9 million, or 50.7 percent, respectively, primarily driven by increases of $2.4 million in bank-owned and company-owned life insurance and $1.0 million in derivative income.

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Table 5

SUMMARY OF NONINTEREST EXPENSE (unaudited in thousands)

	Three Months Ended June 30,				Dollar Change			Percent Change
	2016		2015		16-15			16-15
Salaries and employee benefits	$	108,897	$	99,585	$	9,312			9.4	%
Occupancy, net		11,139		10,312		827			8.0
Equipment		17,032		15,410		1,622			10.5
Supplies and services		4,719		4,603		116			2.5
Marketing and business development		6,313		6,530		(217	)		(3.3	)
Processing fees		11,464		12,654		(1,190	)		(9.4	)
Legal and consulting		4,937		5,917		(980	)		(16.6	)
Bankcard		5,369		4,953		416			8.4
Amortization of other intangible assets		3,145		2,569		576			22.4
Regulatory fees		3,692		2,873		819			28.5
Other		8,536		6,558		1,978			30.2
Total noninterest expense	$	185,243	$	171,964	$	13,279			7.7	%
	Six Months Ended June 30,				Dollar Change			Percent Change
	2016		2015		16-15			16-15
Salaries and employee benefits	$	216,047	$	198,122	$	17,925			9.0	%
Occupancy, net		22,111		20,322		1,789			8.8
Equipment		33,314		29,582		3,732			12.6
Supplies and services		9,668		8,928		740			8.3
Marketing and business development		10,754		11,148		(394	)		(3.5	)
Processing fees		22,926		25,437		(2,511	)		(9.9	)
Legal and consulting		9,736		10,295		(559	)		(5.4	)
Bankcard		11,184		9,721		1,463			15.0
Amortization of other intangible assets		6,371		5,324		1,047			19.7
Regulatory fees		7,121		5,629		1,492			26.5
Other		16,755		11,869		4,886			41.2
Total noninterest expense	$	365,987	$	336,377	$	29,610			8.8	%

Noninterest expense increased by $13.3 million, or 7.7 percent, and increased $29.6 million, or 8.8 percent, for the three and six months ended June 30, 2016, compared to the same periods in 2015. 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 $9.3 million, or 9.4 percent, and increased $17.9 million, or 9.0 percent, for the three and six months ended June 30, 2016, compared to the same periods in 2015. The Marquette acquisition contributed approximately $4.7 million and $13.8 million of this increase for the three and six months ended June 30, 2016, respectively, and is embedded in the breakouts in the following paragraph. A second significant driver is an increase in non-acquisition related severances of $2.0 million and $2.2 million for the three and six month comparative periods, respectively, which are included in the commissions and bonuses line as noted below.

Salaries and wages increased $3.0 million, or 4.8 percent, and $10.1 million, or 8.4 percent, for the three and six months ended June 30, 2016, respectively, compared to the same periods in 2015. Commissions and bonuses increased $5.0 million, or 23.3 percent, and $6.3 million, or 14.9 percent, for the three and six months

52

ended June 30, 2016, respectively, compared to the same periods in 2015. Employee benefits expense increased $1.4 million, or 8.5 percent, and $1.6 million, or 4.4 percent, for the three and six month period ended June 30, 2016, respectively, compared to the same periods in 2015.

Equipment expense increased $1.6 million, or 10.5 percent, and $3.7 million, or 12.6 percent, for the three and six months ended June 30, 2016, respectively, compared to the same periods in 2015. The increases in both periods are due to increased computer hardware and software expenses related to investments for regulatory requirements, cyber security and the ongoing modernization of our core systems.

Processing fees expense decreased $1.2 million, or 9.4 percent, and $2.5 million, or 9.9 percent, for the three and six months ended June 30, 2016, respectively, compared to the same periods in 2015. The decreases in both periods are due to decreased fees paid by the third-party advisor to distributors of the Scout Funds.

Other noninterest expense increased $2.0 million, or 30.2 percent, and $4.9 million, or 41.2 percent, for the three and six months ended June 30, 2016, respectively, compared to the same periods in 2015. The increase in both periods is due to changes in the fair value adjustments to the contingent consideration liabilities and fair value adjustments on derivatives.

Total acquisition expenses recognized in noninterest expense during the second quarter 2016 totaled $1.0 million and totaled $4.0 million for the first six months of 2016, compared to $787 thousand and $1.6 million for the same periods in 2015, respectively.

Income Tax Expense

The Company’s effective tax rate was 25.6 percent for the six months ended June 30, 2016, compared to 27.4 percent for the same period in 2015. The decrease in the effective tax rate is attributable to nondeductible Marquette acquisition costs in 2015 with no corresponding activity in 2016. Additionally, a larger portion of income in 2016 was earned from tax-exempt municipal securities and excludable life insurance policy gains.

Strategic Lines of Business

Table 6

Bank Operating Results (unaudited, dollars in thousands)

	Three Months Ended June 30,				Dollar Change		Percent Change
	2016		2015		16-15		16-15
Net interest income	$	118,613	$	96,403	$	22,210		23.0	%
Provision for loan losses		7,000		5,000		2,000		40.0
Noninterest income		80,044		70,840		9,204		13.0
Noninterest expense		145,736		133,617		12,119		9.1
Income before taxes		45,921		28,626		17,295		60.4
Income tax expense		11,939		7,017		4,922		70.1
Net income	$	33,982	$	21,609	$	12,373		57.3	%
	Six Months Ended June 30,				Dollar Change		Percent Change
	2016		2015		16-15		16-15
Net interest income	$	233,885	$	185,764	$	48,121		25.9	%
Provision for loan losses		12,000		8,000		4,000		50.0
Noninterest income		155,483		145,529		9,954		6.8
Noninterest expense		289,104		258,796		30,308		11.7
Income before taxes		88,264		64,497		23,767		36.8
Income tax expense		22,643		17,732		4,911		27.7
Net income	$	65,621	$	46,765	$	18,856		40.3	%

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Bank net income increased by $18.9 million, or 40.3 percent, to $65.6 million for the six-month period ended June 30, 2016, compared to the same period in 2015. Net interest income increased $48.1 million, or 25.9 percent, for the six-month period ended June 30, 2016, compared to the same period in 2015, driven by strong loan growth and the acquisition of Marquette. The Marquette acquisition added earning assets with an acquired value of $1.2 billion primarily from loan balances with an acquired value of $980.4 million at May 31, 2015. Provision for loan losses increased by $4.0 million, to adjust the related ALL to the appropriate level based on the inherent risk in the loan portfolio for this segment. Noninterest income increased $10.0 million, or 6.8 percent, over the same period in 2015 driven by increases in bank-owned life insurance income of $3.5 million, brokerage and mutual fund income of $2.7 million, unrealized gains on PCM equity method investments of $2.6 million, healthcare deposit service charges of $2.1 million, and insurance and annuities income of $1.5 million. These increases were offset by decreases in commercial and consumer deposit service charges of $1.1 million.

Noninterest expense increased $30.3 million, or 11.7 percent, to $289.1 million for the six-month period ended June 30, 2016, compared to the same period in 2015. This increase was driven by increases of $16.0 million in salaries and benefits, $1.5 million in bankcard expense, $1.4 million in services and supplies, $1.4 million in legal and professional fees, $1.3 million in amortization of intangibles, $1.2 million in regulatory fees, and $1.0 million in furniture and equipment expense. The increase in salaries and benefits is driven by increases of $9.9 million in salary and wage expense, $4.3 million in bonus and commission expense, and $1.8 million in employee benefit expense. Marquette contributed $13.8 million of the increase in salary and benefits. The increases in supplies and services expense, legal and professional fees, regulatory agency fees, and amortization of other intangibles are also primarily driven by both integration and ongoing expenses associated with Marquette. Additionally, there was an increase in other noninterest expense of $3.4 million, largely due to an increase of $2.2 million in fair value adjustments to contingent consideration liabilities incurred in 2015, as well as an increase of $0.7 million in fair value adjustments on derivatives.

Table 7

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

	Three Months Ended June 30,				Dollar Change			Percent Change
	2016		2015		16-15			16-15
Net interest income	$	—	$	—	$	—			—	%
Provision for loan losses		—		—		—			—
Noninterest income		19,127		25,685		(6,558	)		(25.5	)
Noninterest expense		18,858		18,302		556			3.0
Income before taxes		269		7,383		(7,114	)		(96.4	)
Income tax expense		77		1,747		(1,670	)		(95.6	)
Net income	$	192	$	5,636	$	(5,444	)		(96.6	)%
	Six Months Ended June 30,				Dollar Change			Percent Change
	2016		2015		16-15			16-15
Net interest income	$	—	$	—	$	—			—	%
Provision for loan losses		—		—		—			—
Noninterest income		37,542		52,769		(15,227	)		(28.9	)
Noninterest expense		36,088		36,262		(174	)		(0.5	)
Income before taxes		1,454		16,507		(15,053	)		(91.2	)
Income tax expense		367		4,497		(4,130	)		(91.8	)
Net income	$	1,087	$	12,010	$	(10,923	)		(90.9	)%

54

For the six months ended June 30, 2016, Institutional Investment Management net income decreased $10.9 million, or 90.9 percent, compared to the same period last year. Noninterest income decreased $15.2 million, or 28.9 percent, due to a $15.1 million decrease in advisory fees from the Scout Funds offset by an increase of $0.2 million in advisory fees from separately managed accounts, both of which are driven by changes in AUM. Scout AUM totaled $28.1 billion as of June 30, 2016 compared to $30.0 billion as of June 30, 2015. Additionally, the mix of AUM has shifted between the two periods from 71 percent fixed income and 29 percent equity as of June 30, 2015 to 82 percent fixed income and 18 percent equity as of June 30, 2016. The decrease in noninterest expense of $0.2 million, or 0.5 percent, as compared to the prior year was primarily due to decreases of $3.1 million in fees paid by the advisor to third-party distributors of the Scout Funds, $1.0 million in technology, service and overhead expenses as compared to the prior year, and $0.3 million in marketing and business development expense. These decreases were offset by increases of $3.4 million in bonus and commission expense driven by severance and increased incentives, and $1.3 million in fair value adjustments to contingent consideration liabilities incurred in 2015.

Table 8

Asset Servicing Operating Results (unaudited, dollars in thousands)

	Three Months Ended June 30,				Dollar Change			Percent Change
	2016		2015		16-15			16-15
Net interest income	$	2,597	$	957	$	1,640			>100.0	%
Provision for loan losses		—		—		—			—
Noninterest income		22,276		23,025		(749	)		(3.3	)
Noninterest expense		20,649		20,045		604			3.0
Income before taxes		4,224		3,937		287			7.3
Income tax expense		1,101		968		133			13.7
Net income	$	3,123	$	2,969	$	154			5.2	%
	Six Months Ended June 30,				Dollar Change			Percent Change
	2016		2015		16-15			16-15
Net interest income	$	5,217	$	1,954	$	3,263			>100.0	%
Provision for loan losses		—		—		—			—
Noninterest income		44,772		46,459		(1,687	)		(3.6	)
Noninterest expense		40,795		41,319		(524	)		(1.3	)
Income before taxes		9,194		7,094		2,100			29.6
Income tax expense		2,360		1,890		470			24.9
Net income	$	6,834	$	5,204	$	1,630			31.3	%

For the six months ended June 30, 2016, Asset Servicing net income increased $1.6 million, or 31.3 percent, to $6.8 million as compared to the same period last year. Net interest income increased $3.3 million compared to the same period last year. Noninterest income decreased $1.7 million, or 3.6 percent, largely due to a $1.6 million decrease in fee income driven primarily by lower fund administration services, fund transfer agency fees, and custody fees. As of June 30, 2016, assets under administration totaled $182.3 billion compared to $203.1 billion at June 30, 2015. For the six months ended June 30, 2016, noninterest expense decreased $0.5 million, or 1.3 percent, as compared to the same period last year, primarily due to a decrease of $1.6 million in operational losses, which was partially offset by an increase of $1.2 million in salary and benefits expense, as compared to the prior year.

55

Balance Sheet Analysis

Total assets of the Company increased by $639.8 million, or 3.4 percent, as of June 30, 2016, compared to December 31, 2015, primarily due to an increase in loan balances of $652.5 million, or 6.9 percent.

Total assets of the Company increased $1.3 billion as of June 30, 2016, or 7.1 percent, compared to June 30, 2015, primarily due to an increase in loan balances of $1.2 billion, or 13.1 percent, and an increase in held-to-maturity (HTM) securities of $433.7 million, or 97.1 percent, which were partially offset by a decrease in due from Federal Reserve balances of $251.6 million, or 48.2 percent.

The overall increase in total assets from June 30, 2015 and December 31, 2015 to June 30, 2016 is directly related to an increase in deposits during those periods. From December 31, 2015, total deposits increased by $555.9 million, or 3.7 percent, and from June 30, 2015, total deposits increased by $1.2 billion, or 7.9 percent.

Table 9

SELECTED FINANCIAL INFORMATION (unaudited, dollars in thousands)

	June 30,				December 31,
	2016		2015		2015
Total assets	$	19,734,076	$	18,418,727	$	19,094,245
Loans, net of unearned interest		10,093,761		8,918,947		9,431,350
Total investment securities		7,774,390		7,486,412		7,568,870
Interest-bearing due from banks		379,611		698,940		522,877
Total earning assets		18,359,379		17,117,904		17,615,581
Total deposits		15,648,693		14,496,646		15,092,752
Total borrowed funds		1,878,890		1,862,781		1,909,141

Loans

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.

Actual loan balances totaled $10.1 billion as of June 30, 2016, and increased $652.5 million, or 6.9 percent, compared to December 31, 2015 and increased $1.2 billion, or 13.1 percent, compared to June 30, 2015. Compared to December 31, 2015, commercial real estate loans increased $322.4 million, or 12.1 percent, commercial loans increased $238.4 million, or 5.7 percent, and construction real estate loans increased $115.2 million, or 27.7 percent. Compared to June 30, 2015, commercial real estate loans increased $597.6 million, or 25.0 percent, commercial loans increased $311.6 million, or 7.5 percent, and construction real estate loans increased $135.9 million, or 34.3 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 investment portfolio contains trading, available-for-sale (AFS), and HTM securities as well as FRB stock, FHLB stock, and other miscellaneous investments. Investment securities totaled $7.8 billion as of June 30, 2016 and $7.6 billion as of December 31, 2015 and comprised 42.3 percent and 43.0 percent of the Company’s earning assets, respectively, as of those dates.

The Company’s AFS securities portfolio comprised 87.1 percent of the Company’s investment securities portfolio at June 30, 2016, compared to 89.9 percent at December 31, 2015. The Company’s AFS securities

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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. The average life of the AFS securities portfolio decreased from 45.8 months at June 30, 2015 to 42.7 months at June 30, 2016. In addition to providing a potential source of liquidity, the AFS securities portfolio can be used as a tool to manage interest rate sensitivity. The Company’s goal in the management of its AFS securities portfolio is to maximize return within the Company’s parameters of liquidity goals, interest rate risk, and credit risk.

Management expects collateral pledging requirements for public funds, loan demand, and deposit funding to be the primary factors impacting changes in the level of AFS securities. There were $5.5 billion of AFS securities pledged to secure U.S. Government deposits, other public deposits, certain trust deposits, and repurchase agreements at June 30, 2016. Of this amount, securities with a market value of $1.5 billion at June 30, 2016 were pledged at the Federal Reserve Discount Window but were unencumbered as of that date.

The Company’s HTM securities portfolio consists of private placement bonds, which are issued primarily to refinance existing revenue bonds in the healthcare and education sectors. The HTM portfolio totaled $880.6 million as of June 30, 2016, an increase of $213.5 million, or 32.0 percent, from December 31, 2015. The average life of the HTM portfolio was 10.3 years at June 30, 2016, compared to 9.7 years at December 31, 2015.

The securities portfolio generates the Company’s second largest component of interest income. The securities portfolio achieved an average yield on a tax-equivalent basis of 2.08 percent for the six months ended June 30, 2016, compared to 1.93 percent for the same period in 2015.

Deposits and Borrowed Funds

Deposits increased $555.9 million, or 3.7 percent, from December 31, 2015 to June 30, 2016 and increased $1.2 billion, or 7.9 percent, from June 30, 2015 to June 30, 2016. Total interest-bearing deposits increased $740.4 million from December 31, 2015 offset by small declines in non-interest bearing and time deposits. Total interest-bearing deposits increased $967.1 million and noninterest-bearing deposits increased $346.0 million, offset by decreased time deposits of $161.0 million as compared to June 30, 2015.

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 strengths given its competitive product mix.

Long-term debt totaled $85.3 million at June 30, 2016, compared to $86.1 million as of December 31, 2015, and $88.3 million as of June 30, 2015. As part of the Marquette acquisition, the Company assumed long-term debt obligations with an aggregate balance of $103.1 million and an aggregate fair value of $65.5 million as of May 31, 2015 payable to four unconsolidated trusts (Marquette Capital Trust I, Marquette Capital Trust II, Marquette Capital Trust III, and Marquette Capital Trust IV) that had issued trust preferred securities. These long-term debt obligations had an aggregate contractual balance of $103.1 million and had an aggregate carrying value of $66.7 million as of June 30, 2016. The interest rates on trust preferred securities issued by the trusts are tied to the three-month LIBOR rate with spreads ranging from 133 basis points to 160 basis points, and reset quarterly. The trust preferred securities have maturity dates ranging from January 2036 to September 2036.

Federal funds purchased and securities sold under agreement to repurchase totaled $1.8 billion at June 30, 2016, December 31, 2015 and June 30, 2015. 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 or similar 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.

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Total shareholders’ equity was $2.0 billion at June 30, 2016, a $109.0 million increase compared to December 31, 2015, and a $145.7 million increase compared to June 30, 2015.

The Company’s Board of Directors authorized, at its April 26, 2016 and April 28, 2015 meetings, the repurchase of up to two million shares of the Company’s common stock during the twelve months following the meetings. During the six months ended June 30, 2016 and 2015, the Company acquired 281,874 shares and 105,218 shares of its common stock under the 2016 and 2015 plans, respectively. The Company has not made any repurchase of its securities other than through these plans.

On July 26, 2016, the Board of Directors declared a dividend of $0.245 per share. The dividend will be paid on October 3, 2016 to shareholders of record on September 9, 2016.

Through the Company’s relationship with the FHLB of Des Moines, the Company owns $10.0 million of FHLB stock and has access to additional liquidity and funding sources through FHLB advances. The Company’s borrowing capacity is dependent upon the amount of collateral the Company places at the FHLB. The Company’s borrowing capacity with the FHLB was $561.3 million as of June 30, 2016. The Company had no outstanding FHLB advances at FHLB of Des Moines as of June 30, 2016. Additionally, the Company owns $0.4 million of FHLB of San Francisco stock, acquired as part of the Marquette acquisition. The FHLB of San Francisco advances, also acquired as part of the Marquette acquisition, totaled $15.0 million at June 30, 2016 and have maturity dates between September 2016 and September 2020. In July 2016, the Company prepaid $10.0 million of these advances which had maturity dates of September 2018 and September 2020.

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. Effective January 1, 2015, the Company implemented the Basel III regulatory capital rules adopted by the FRB in July 2013. Basel III capital rules increase minimum requirements for both the quantity and quality of capital held by banking organizations. The rules include a new minimum ratio of common equity tier 1 capital to risk-weighted assets of 4.5 percent and a minimum tier 1 risk-based capital ratio of 6 percent. A financial institution’s total capital is also 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 Basel III regulatory capital rules include transitional periods for various components of the rules that require full compliance for the Company by January 1, 2019, including a capital conservation buffer requirement of 2.5 percent of risk-weighted assets for which the transitional period began on January 1, 2016.

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. 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 capital position as of June 30, 2016 is summarized in the table below and exceeded regulatory requirements.

Table 10

	Three Months Ended June 30,						Six Months Ended June 30,
RATIOS	2016			2015			2016			2015
Common equity tier 1 capital ratio		11.65	%		12.64	%		11.65	%		12.64	%
Tier 1 risk-based capital ratio		11.65			12.77			11.65			12.77
Total risk-based capital ratio		12.70			13.77			12.70			13.77
Leverage ratio		8.91			9.56			8.91			9.56
Return on average assets		0.77			0.70			0.76			0.75
Return on average equity		7.58			6.95			7.54			7.55
Average equity to assets		10.19			10.02			10.11			9.99

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

	Three Months Ended June 30,						Six Months Ended June 30,
Per Share Data	2016			2015			2016			2015
Earnings basic	$	0.76		$	0.65		$	1.51		$	1.40
Earnings diluted		0.76			0.65			1.50			1.39
Cash dividends		0.245			0.235			0.490			0.470
Dividend payout ratio		32.24	%		36.15	%		32.45	%		33.57	%
Book value	$	40.44		$	37.68		$	40.44		$	37.68

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 10, “Commitments, Contingencies and Guarantees” in the Notes to Consolidated Financial Statements for detailed information on these arrangements.

Critical Accounting Policies and Estimates

The preparation of these 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 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 customers and suppliers, allowance for loan losses, bad debts, investments, financing operations, long-lived assets, taxes, other 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. Under different assumptions or conditions, actual results may differ from the recorded estimates.

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 Form 10-K.

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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 a financial instrument. 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.

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 following discussion 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.

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 Board. The ALCO is responsible 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, trading securities, trust preferred securities, and deposits. See further information in Note 11 “Derivatives and Hedging Activities” in the Notes to the Company’s Consolidated Financial Statements.

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 all of the Company’s assets and liabilities together with 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 or a 100 basis point downward gradual change (e.g. ramp) and immediate change (e.g. shock) of market interest rates over a two year period. In ramp scenarios, rates change gradually for a one year period and remain constant in year two. In shock scenarios, rates change immediately and the change is sustained for the remainder of the two year scenario horizon. 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. The results of these simulations can be significantly influenced by assumptions utilized and management evaluates the sensitivity of the simulation results on a regular basis.

Table 11 shows the net interest income increase or decrease over the next twelve months as of June 30, 2016 and 2015 based on hypothetical changes in interest rates and a constant sized balance sheet with runoff being replaced.

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Table 11

MARKET RISK (unaudited, dollars in thousands)

	Hypothetical change in interest rate – Rate Ramp
	Year One				Year Two
(basis points)	June 30, 2016 Amount of change		June 30, 2015 Amount of change		June 30, 2016 Amount of change		June 30, 2015 Amount of change
300	$	17,888	$	27,256	$	51,500	$	81,463
200		10,777		18,488		33,474		55,581
100		3,656		9,769		15,221		29,006
Static		—		—		—		—
(100)		N/A		N/A		N/A		N/A
	Hypothetical change in interest rate – Rate Shock
	Year One				Year Two
(basis points)	June 30, 2016 Amount of change		June 30, 2015 Amount of change		June 30, 2016 Amount of change		June 30, 2015 Amount of change
300	$	50,540	$	57,911	$	77,823	$	98,054
200		32,618		38,776		51,213		66,832
100		14,612		19,813		24,320		35,227
Static		—		—		—		—
(100)		N/A		N/A		N/A		N/A

The Company is positioned to benefit from increases in interest rates. Net interest income is projected to increase in rising interest rate scenarios due to yields on earning assets increasing more due to changes in market rates than the cost of paying liabilities is projected to increase. The Company’s ability to price deposits in a rising rate environment consistent with our history is a key assumption in these scenarios. 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.

Trading Account

The Company’s subsidiary, UMB Bank, n.a. (the Bank), carries taxable governmental securities in a trading account that is maintained in accordance with 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 $56.3 million as of June 30, 2016, $29.6 million as of December 31, 2015 and $36.6 million as of June 30, 2015.

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 11 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 10 “Commitments, Contingencies and Guarantees” in the Notes to the Consolidated Financial Statements.

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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 on nonaccrual. The Company’s nonperforming loans increased $20.8 million to $58.4 million at June 30, 2016, compared to June 30, 2015, and decreased $2.7 million, compared to December 31, 2015.

The Company had $0.6 million and $2.6 million of other real estate owned as of June 30, 2016 and 2015, respectively, and $3.3 million of other real estate owned as of December 31, 2015. Loans past due more than 90 days totaled $4.7 million as of June 30, 2016, compared to $7.6 million at June 30, 2015 and $7.3 million as of December 31, 2015.

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 $42.6 million of restructured loans at June 30, 2016, $27.0 million at June 30, 2015, and $36.6 million at December 31, 2015.

Table 12

LOAN QUALITY (unaudited, dollars in thousands)

	June 30,						December 31,
	2016			2015			2015
Nonaccrual loans	$	28,734		$	20,722		$	45,589
Restructured loans on nonaccrual		29,689			16,927			15,563
Total nonperforming loans		58,423			37,649			61,152
Other real estate owned		601			2,553			3,307
Total nonperforming assets	$	59,024		$	40,202		$	64,459
Loans past due 90 days or more	$	4,700		$	7,645		$	7,324
Restructured loans accruing		12,946			10,042			21,029
Allowance for loan losses		84,666			77,721			81,143
Ratios
Nonperforming loans as a percent of loans		0.58	%		0.42	%		0.65	%
Nonperforming assets as a percent of loans plus other real estate owned		0.59			0.45			0.68
Nonperforming assets as a percent of total assets		0.30			0.22			0.34
Loans past due 90 days or more as a percent of loans		0.05			0.09			0.08
Allowance for loan losses as a percent of loans		0.84			0.87			0.86
Allowance for loan losses as a multiple of nonperforming loans		1.45	x		2.06	x		1.33	x

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 Company believes that the most important factor in the

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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, the Company believes 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 on and maturity of assets, which include $6.8 billion of high-quality securities available for sale. The liquidity of the Company and the Bank is also enhanced by its activity in the federal funds market and by its core deposits. Additionally, management believes it can raise debt or equity capital on favorable terms in the future, should the need arise.

Another factor affecting liquidity is the amount of deposits and customer repurchase agreements that have pledging requirements. All customer repurchase agreements require collateral in the form of a security. The U.S. Government, other public entities, and certain trust depositors require the Company to pledge securities if their deposit balances are greater than the FDIC-insured deposit limitations. These pledging requirements affect liquidity risk in that the related security cannot otherwise be disposed due to the pledging restriction. At June 30, 2016, $5.5 billion, or 81.9 percent, of the securities available-for-sale were pledged or used as collateral, compared to $5.9 billion, or 86.7 percent, at December 31, 2015. However of these amounts, securities with a market value of $1.5 billion at June 30, 2016 and $1.6 billion at December 31, 2015 were pledged at the Federal Reserve Discount Window but were unencumbered as of those dates.

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 June 30, 2016 was $9.5 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 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 into 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 $50.0 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 0.3 percent unused commitment fee for unused portions of the line of credit. The Company had no advances outstanding at June 30, 2016.

The Company is a member bank of the FHLB. The Company owns $10.4 million of FHLB stock and has access to additional liquidity and funding sources through FHLB advances. As part of the Marquette acquisition, the Company acquired advances with the FHLB of San Francisco with a balance of $15.0 million as of June 30, 2016 with maturity dates ranging from 2016 to 2020. In July 2016, the Company prepaid $10.0 million of these advances which had maturity dates of September 2018 and September 2020. Additionally, the Company has access to borrow up to $561.3 million through advances at the FHLB of Des Moines, but had no outstanding FHLB Des Moines advances as of June 30, 2016.

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, as amended.

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The Company operates in many markets and relies 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.

ITEM 4. CONTROLS AND PROCEDURES

The Sarbanes-Oxley Act of 2002, as amended, 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, as amended (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 this report, the Company’s disclosure controls and procedures were effective for ensuring that the information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act 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 disclosure.

Internal Control Over Financial Reporting

During the quarter ended June 30, 2016, the Company completed the implementation of FIS Global’s IBS Loan system. This implementation was subject to various testing and review procedures prior to execution. The Company believes the conversion to, and implementation of, this new system further strengthened its existing internal control over financial reporting by enhancing certain business processes. Additionally, as a result of the acquisition of Marquette, we continue to integrate certain business processes and systems of Marquette. Accordingly, certain changes have been made and will continue to be made to our internal control over financial reporting until such time as this integration is complete.

Other than the changes described above, there have been no other changes in the Company’s internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, such control over financial reporting during the period covered by this report.

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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. In the opinion of management, after consultation with legal counsel, none of these proceedings are expected to be material to the Company.

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 Form 10-K.

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 June 30, 2016.

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
April 1-April 26, 2016		172	$	49.28		172		1,670,338
April 27-April 30, 2016		1,794		55.62		1,794		1,998,206
May 1-May 31, 2016		5,103		56.27		5,103		1,993,103
June 1-June 30, 2016		5,283		57.84		5,283		1,987,820
Total		12,352	$	56.75		12,352

On April 28, 2015, the Company announced a plan to repurchase up to two million shares of common stock, which terminated on April 26, 2016. On April 26, 2016, the Company announced a plan to repurchase up to two million shares of common stock, which will terminate on April 25, 2017. The Company has not made any repurchases other than through these plans. 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 stock.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

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ITEM 4. MINE SAFETY DISCLOSURES

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

a) The following exhibits are filed herewith:

3.1	Restated Articles of Incorporation (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).
3.2	Bylaws filed herewith.
10.1	Form of 2016 Performance-Based Restricted Stock Award Agreement for the UMB Financial Corporation Long-Term Incentive Compensation Plan filed herewith.
10.2	Form of 2016 Service-Based Restricted Stock Award Agreement for the UMB Financial Corporation Long-Term Incentive Compensation Plan filed herewith.
10.3	Form of 2016 Stock Option Award Agreement for the UMB Financial Corporation Long-Term Incentive Compensation Plan filed herewith.
10.4	Employment offer letter between the Company and John Pauls dated June 1, 2016 filed herewith.
31.1	CEO Certification pursuant to Section 302 of the Sarbanes-Oxley Act filed herewith.
31.2	CFO Certification pursuant to Section 302 of the Sarbanes-Oxley Act filed herewith.
32.1	CEO Certification pursuant to Section 906 of the Sarbanes-Oxley Act filed herewith.
32.2	CFO Certification pursuant to Section 906 of the Sarbanes-Oxley Act filed herewith.
101.INS	XBRL Instance filed herewith.
101.SCH	XBRL Taxonomy Extension Schema filed herewith.
101.CAL	XBRL Taxonomy Extension Calculation filed herewith.
101.DEF	XBRL Taxonomy Extension Definition filed herewith.
101.LAB	XBRL Taxonomy Extension Labels filed herewith.
101.PRE	XBRL Taxonomy Extension Presentation filed herewith.

66

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 Accounting Officer

Date: August 2, 2016

67

EX-3.2

Exhibit 3.2

UMB FINANCIAL CORPORATION

BYLAWS

(As Amended through October 28, 2014)

ARTICLE I

Location of Offices

Section 1. Principal Office. The principal office of UMB Financial Corporation (the “Corporation”) shall be located in Kansas City, Jackson County, Missouri, or at such other place as may be designated from time to time by the Board of Directors of the Corporation (the “Board”).

Section 2. Other Offices. The Corporation may have offices at such other place or places, either within or without the State of Missouri, as the Board may from time to time designate.

ARTICLE II

Meetings of Shareholders

Section 1. Annual Meeting. The annual meeting of the shareholders shall be held at the principal office of the Corporation, or at such other place as shall be designated in the notice thereof, beginning at 9:00 a.m. or such other hour as shall be designated in such notice, on the final Tuesday in April in each year, or if that be a legal holiday on the next succeeding day not a legal holiday. At each annual meeting the shareholders shall elect directors as provided in Articles II and III of these Bylaws and shall transact only such other business as is properly brought before the meeting in accordance with the Articles of Incorporation and Section 12 of Article II of these Bylaws.

Section 2. Special Meetings. Special meetings of the shareholders may be called at any time by the Chair of the Board, or in the case of the absence or disability of the Chair, by any Chief Executive Officer or the President, or at any time upon the written request of a majority of the Board, or upon the written request of the holders of not less than one-fifth of the outstanding stock of the Corporation entitled to vote at such meeting. Each call for a special meeting of the shareholders shall state the time, the day, the place, and the purpose or purposes of such meeting and shall be in writing, signed by the persons making the same, and delivered to the Secretary. Only such business shall be conducted at a special meeting of shareholders as shall have been properly brought before the meeting in accordance with the Articles of Incorporation and Section 12 of Article II these Bylaws.

Section 3. Notice of Meetings. Written or printed notice of each meeting of the shareholders stating the hour and day when, and the place where, such meeting is to be held shall be served as hereinafter provided on each shareholder entitled to vote thereat not less than ten (10) days or more than seventy (70) days before such meeting, except that further notice shall be given of particular matters if required by applicable law. Without limiting the manner by which notice otherwise may be given effectively to shareholders, any notice to shareholders may be given by electronic transmission, including by electronic mail, in the manner provided in and to the extent permitted by Section 351.230 of The General and Business Corporation Law of Missouri. In the case of an

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annual meeting, the notice shall state that the purposes thereof are the election of directors and the transaction of such other business as may properly come before the meeting according to the Articles of Incorporation and Section 12 of Article II of these Bylaws. In the case of a special meeting, such notice shall state the purpose or purposes for which the meeting is called. Any notice of a shareholders’ meeting sent by mail shall be deemed to be delivered when deposited in the United States mail with postage thereon prepaid addressed to the shareholder at his or her address as it appears on the records of the Corporation. Any notice of a shareholders’ meeting sent by facsimile or electronic transmission shall be deemed to be delivered at the time it is delivered to the address, number, email account, or other reference supplied by the recipient for the purpose of receiving such communications.

Section 4. Waiver of Notice. Any shareholder may waive notice of any meeting of the shareholders by a writing signed by him or her, or by his or her duly authorized attorney or agent, either before or after the time of such meeting. A copy of such waiver shall be entered in the minutes and shall be deemed to be the notice required by applicable law, the Articles of Incorporation, or these Bylaws. Any shareholder present in person, or represented by proxy, at any meeting of the shareholders shall be deemed to have thereby waived notice of such meeting except where such attendance is for the express purpose of objecting to the transaction of any business because the meeting is not lawfully called or convened.

Section 5. Actions Without a Meeting. Any action which is required to be taken, or may be taken, at a meeting of the shareholders may be taken without a meeting if consents in writing, setting forth the action so taken, shall be signed by all of the shareholders entitled to vote with respect to the subject matter thereof. Such consents shall have the same force and effect as a unanimous vote of the shareholders at a meeting duly held, in accordance with Section 351.273 of The General and Business Corporation Law of Missouri. The Secretary shall file such consents with the minutes of the meetings of the shareholders.

Section 6. List of Shareholders. At least ten (10) days before each meeting of the shareholders, the Secretary shall cause to be prepared a complete list of the names and addresses of all shareholders entitled to vote at such meeting based on the Corporation’s stock transfer books, arranged in alphabetical order, with the number of shares held by each, and such list shall be produced and kept for a period of ten (10) days prior to the meeting at the registered office of the Corporation in the State of Missouri and shall be subject to inspection by any shareholder during usual business hours. Such list shall also be produced and kept open at the meeting and shall be subject to inspection by any shareholder during the meeting.

Section 7. Quorum. At any meeting of the shareholders, a majority of the outstanding shares of stock entitled to vote at such meeting, being represented in person or by proxy, shall constitute a quorum for all purposes, including the election of directors, except as otherwise required by applicable law. Shares represented by a proxy which directs that the shares abstain from voting or that a vote be withheld on a matter, shall be deemed to be represented at the meeting for quorum purposes. Shares as to which voting instructions are given as to at least one of the matters to be voted on shall also be deemed to be so represented. If the proxy states how shares will be voted in the absence of instructions by the shareholder, such shares shall be deemed to be represented at the meeting.

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Section 8. Organization. The Chair of the Board, or in the case of the absence or disability of the Chair, any Chief Executive Officer or the President shall preside at each meeting of the shareholders. The Secretary, or in the case of the absence or disability of the Secretary, an Assistant Secretary or a secretary pro tem shall act as secretary of all meetings of the shareholders.

Section 9. Voting. At each meeting of the shareholders, each shareholder shall be entitled to vote in person, or by proxy made in accordance with the provisions of the Articles of Incorporation and these Bylaws and held by some person or persons present at such meeting, upon all matters presented at the meeting. With the exception of the election of directors, each shareholder shall have one vote for each share of stock standing in his or her name on the books of the Corporation on the record date determined as provided in Section 6 of Article VII of these Bylaws, except as otherwise provided by applicable law. In the election of directors, except as otherwise provided by applicable law, each shareholder shall have the right to cast as many votes in the aggregate as shall equal the number of shares held by him or her multiplied by the number of directors to be elected at such election, and said votes may be cast for one director candidate or distributed among two or more director candidates. If any director candidate nominated by the Board unexpectedly becomes unavailable prior to the election, the shares represented by proxy and voting for that candidate will be voted instead for a substitute candidate nominated by the Board. In any matter other than the election of directors, every decision of a majority of the shares cast at a meeting at which a quorum is present shall be valid as an act of the shareholders, unless a larger vote is required by The General and Business Corporation Law of Missouri, the Articles of Incorporation, or these Bylaws. Directors shall be elected by a plurality of the votes of the shares entitled to vote on the election of the directors and represented in person or by proxy at a meeting at which a quorum is present. If voting shall be by ballot for the election of directors or other questions, the presider of such meeting of the shareholders may appoint not less than two (2) persons, who are not directors or candidates for the election as a director, to act as Inspectors of Election and to receive and canvass the votes cast at such meeting and certify the results to the presider. Each such Inspector, before entering upon the discharge of his or her duties, shall take and subscribe any oath required by The General and Business Corporation Law of Missouri. The Inspectors of Election shall take care of the polls and after the balloting shall make and file a written certificate of the result of the votes cast at the meeting.

Section 10. Adjournment. If, at any meeting of the shareholders, a quorum shall fail to attend at the time and place for which such meeting was called, or if the business of such meeting shall not be completed, the meeting may be successively adjourned from day to day, or from time to time, not exceeding ninety (90) days from such adjournment, without further notice, until a quorum shall attend or the business thereof shall be completed. Such adjournment and the reasons therefor shall be recorded with the minutes of the meetings of the shareholders. At any such adjourned meeting, any business may be transacted which might have been transacted at the meeting as originally called.

Section 11. Proxies. Proxies must either (a) be in writing, signed by the shareholder or his or her duly authorized attorney-in-fact or legal representative and filed with the Secretary, or (b) be sent by electronic means or by telephone to the Secretary through a system that is designed to (i) enable the Secretary to verify that the transmission was authorized by the shareholder, and (ii) enable the recipient to retain, retrieve, and reproduce the information authorized by the shareholder. Unless specified therein that it is irrevocable, any proxy may be revoked at the pleasure of the person executing it (A) by a writing signed by the shareholder or his or her duly authorized attorney-in-fact or legal representative and filed with the Secretary or (B) by notice given by electronic means or by

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telephone to the Secretary through a system of a kind described in the preceding sentence. To be effective the grant of a proxy or the revocation of a proxy must be manually signed and filed with the Secretary at or before the roll call of the meeting at which the same is to be used or must be delivered by electronic means or by telephone to the Secretary within the time period specified by the Secretary in advance of the meeting. The Secretary, in his or her sole discretion, may designate the Corporation’s transfer agent or other proxy tabulator to receive grants or revocations of proxies for any of these purposes. No proxy shall be valid after the expiration of eleven (11) months from its date of execution, unless otherwise provided in the proxy. In the event that a proxy shall designate two or more persons to act as proxies, a majority of such persons present at the meeting, or, if only one shall be present, then that one, shall have and may exercise all of the powers conferred by such proxy upon all of the persons so designated, unless the proxy shall otherwise provide.

Section 12. Advance Notice of Shareholder Nominations and Other Proposals.

a. At any meeting of the shareholders, only such nominations of director candidates and such other business may be conducted as have been properly brought before the meeting.

b. To be properly brought before any annual meeting, nominations or other business:

i. must be a proper matter for shareholder action;

ii. must be (A) specified in the notice of meeting (including any supplemental notice) given by or at the direction of the Board, (B) otherwise properly brought before the meeting by or at the direction of the Board, or (C) otherwise properly brought before the meeting by a shareholder of record who is entitled to vote at the meeting; and

iii. if brought by a shareholder, must have been identified in a notice in writing that complies with applicable law and that is given to the Secretary at the principal office of the Corporation (regardless of any other public or private notice that may exist) and received by the Secretary (A) if the meeting is to be held on a day that is not more than thirty (30) days from the anniversary of the previous year’s annual meeting, not later than the close of business on the 120th day and not earlier than the close of business on the 150th day before the date of the Corporation’s proxy statement released to shareholders in connection with the previous year’s annual meeting or (B) otherwise not later than the close of business on the 10th day following the date when the Corporation provides notice or public disclosure of the date of the meeting.

No adjournment or postponement of an annual meeting will restart or extend any notice period described in clause (iii).

c. To be properly brought before any special meeting, nominations or other business must be a proper matter for shareholder action and must be identified in the call for the special meeting signed and delivered to the Secretary according to Section 2 of Article II of these Bylaws.

d. For the nomination of any director candidate, any notice described in subsection (b)(iii) or any call by shareholders described in subsection (c) must (i) set forth all information about the director candidate that would be required to be disclosed in a proxy statement soliciting proxies

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for the election of the director candidate in an election contest or that otherwise would be required to be disclosed under Section 14(a) of the Securities Exchange Act of 1934 as amended (including related regulations and rules, the “Exchange Act”), (ii) include the director candidate’s signed written consent to be nominated as a director candidate, to be named in any proxy statement as a nominee, and to serve as a director if elected, and (iii) set forth, for each proposing shareholder (whether a record shareholder or a beneficial owner), (A) the name and address of the shareholder, (B) the class and number of shares owned or held by the shareholder as of the date of the notice, (C) a description of any agreement, arrangement, or understanding relating to the nomination by or on behalf of the shareholder or others acting in concert with the shareholder (including their identities) as of the date of the notice, (D) a description of any agreement, arrangement, or understanding that has the purpose or effect of mitigating loss to, managing risk or benefit of share price changes for, or increasing or decreasing the voting power of the shareholder or others acting in concert with the shareholder (including their identities) in connection with the stock of the Corporation as of the date of the notice, (E) a representation that the shareholder is entitled to vote at the meeting and intends to appear in person at the meeting to nominate the director candidate, (F) a representation as to whether the shareholder intends to deliver a proxy statement or form of proxy to holders of at least the percentage of the Corporation’s outstanding stock required to elect the director candidate or otherwise to solicit proxies from shareholders in support of the nomination, and (G) a representation to update the information described in clauses (B), (C), and (D) as of the record date for the meeting promptly following the later of the record date or the date the date when the Corporation provides notice or public disclosure of the date of the record date.

e. For any business other than the nomination of a director candidate, any notice described in subsection (b)(iii) or any call by shareholders described in subsection (c) must set forth (i) a brief description of the business and its purpose, (ii) any information about the proposing shareholder (whether a shareholder of record or a beneficial owner) that would be required to be disclosed in a proxy statement soliciting proxies for the proposal or that otherwise would be required to be disclosed under Section 14(a) of the Exchange Act, and (iii) the information described in subsection (c)(iii) as relating to the proposal.

f. Unless otherwise required by applicable law, a failure to abide by this Section 12 or a failure of a proposing shareholder to be entitled to vote or to appear in person and make a nomination or other proposal at a meeting will preclude the nomination or other business from being properly brought before the meeting and being considered or conducted (irrespective of whether proxies having been solicited or received).

ARTICLE III

Directors

Section 1. Qualifications. The corporate powers, business, and property of the Corporation shall be exercised, conducted, and controlled by the Board. It shall not be necessary for a director to be a shareholder.

Section 2. Number and Term. The Board shall consist of not less than eight (8) nor more than eighteen (18) members, with the exact number to be set from time to time by the Board. Each director shall hold office until the earlier of (a) the later of the next succeeding annual meeting or the date when the director’s successor is duly elected and qualified or (b) the effective date of the director’s removal, resignation, death, or disqualification.

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Section 3. Nomination. The Corporate Governance & Nominating Committee (the “Governance Committee”) of the Board will recommend, and the Board will nominate, a slate of director candidates for election to the Board at each annual meeting of the shareholders. The Governance Committee must consider potential director candidates who are recommended by shareholders in compliance with applicable law. Any recommendation by shareholders to the Governance Committee must include the information described in Section 12(d) of Article II of these Bylaws and must be submitted in writing to the Chair of the Governance Committee at the principal office of the Corporation.

Section 4. Election, Vacancies, and Removal. At each annual meeting of the shareholders, shareholders entitled to vote in the election of directors at the meeting will elect directors as provided by applicable law, the Articles of Incorporation, and these Bylaws. If for any reason the election of directors cannot be held during an annual meeting, the election may be held on any other day at a special meeting of the shareholders called and held for that purpose. The Chair of the Board will be appointed by the Board from among its members. Vacancies on the Board and newly created directorships resulting from any increase in the number of directors to constitute the Board may be filled by a majority of the directors then in office, although less than a quorum, or by a sole remaining director, until the next election of directors by the shareholders. A director may resign by notice to the Board, the Chair of the Board, or the Secretary, and whether or not accepted, such a resignation will become effective on the later of the date of receipt or the date of resignation specified in the notice. The entire Board or any one or more of the directors may be removed with or without cause if (a) at a meeting specially called for the purpose of removing directors, the holders of at least two-thirds of the outstanding shares of stock then entitled to vote in elections of directors shall vote for such removal, and (b) as to any director if less than the entire Board is to be removed, the number of shares voted against removal would not be sufficient to elect the director if then cumulatively voted in an election of the entire Board. In addition, any director may be removed for cause by action of a majority of the entire Board if the director to be removed shall, at the time of removal, fail to meet the qualifications for election as a director stated in the Articles of Incorporation or these Bylaws or shall be in breach of any agreement between such director and the Corporation relating to such director’s services as a director or employee of the Corporation. Notice of the proposed removal of a director by the Board shall be given to all directors of the Corporation prior to action thereon.

Section 5. Regular Meetings. Regular meetings of the Board may be held at such time and place as shall be determined from time to time by the Board. After the time and place of any such regular meeting shall have been so determined, no notice of such regular meeting need be given. Independent directors (as defined in the Corporate Governance Guidelines of the Corporation and subject to any additional independence criteria established by the Board, NASDAQ Stock Market Listing Rule 5605(a)(2), and Rule 10A-3 under the Exchange Act, the “Independent Directors”) shall convene regularly scheduled executive sessions at least twice per year in conjunction with regularly scheduled Board meetings or at such other times and places as deemed necessary or appropriate by the Independent Directors or as required by applicable law.

Section 6. Special Meetings. Special meetings of the Board for any purpose or purposes may be called by the Chair of the Board, or in the case of the absence or disability of the Chair, by any Chief

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Executive Officer or the President, or at the written request of a majority of the Board. Each call for a special meeting of the Board must state the time, the day, the place, and the purpose or purposes of the meeting and must be delivered to the Secretary. The business transacted at a special meeting of the Board will be confined to the purpose or purposes stated in the notice of the meeting and to matters germane to the purpose or purposes, unless all directors are present at the meeting and consent to the transaction of other business.

Section 7. Notice of Meetings. No notice shall be required to be given of any regular meeting of the Board. Notice of any change in the time or place of any regular meeting and notice of any special meeting, in each case, shall be given within a reasonable time in advance of the meeting to each director in person or by mail, courier, telephone, confirmed facsimile transmission, electronic mail, or other means of electronic transmission to the address, number, e-mail account, or other reference supplied by such director for the purpose of receiving communications. A notice of a special meeting will include the purpose or purposes of the meeting. Attendance of a director at any meeting of the Board will constitute a waiver of notice of the meeting, except where a director attends a meeting for the express purpose of objecting to the transaction of any business because the meeting is not lawfully called or convened. Notice of a meeting of the Board may also be waived by a director in writing, by signed facsimile transmission, or by electronic mail or other electronic transmission.

Section 8. Actions Without a Meeting. Any action that is required to be or may be taken at a meeting of the Board may be taken without a meeting if, setting forth the action so taken, all of the members of the Board consent to the action in writing or by electronic transmission. Such a consent has the same force and effect as a unanimous vote at a meeting duly held. The Secretary must file the consents with the minutes of the meetings of the Board.

Section 9. Quorum. A majority of the Board constitutes a quorum for the transaction of business, and the act of a majority of the directors present at a meeting at which a quorum is present shall be the act of the Board, except to the extent otherwise required by applicable law, the Articles of Incorporation, or these Bylaws.

Section 10. Adjournment. If at any meeting of the Board a quorum shall fail to attend, a majority of the directors present at the time and place appointed for such meeting may adjourn the meeting from time to time to any time and place until the next regular meeting of the Board, without notice other than an oral announcement at the meeting and adjournments thereof, until a quorum shall attend. Likewise, any meeting of the Board at which a quorum is present may also be adjourned, in like manner and on like notice, for such time or upon such call as may be determined by a majority of the directors there present. At any such adjourned meeting at which a quorum shall be present, any business may be transacted which might have been transacted at the meeting as originally called.

Section 11. Organization. The Chair of the Board, or the Lead Director (if a Lead Director has been appointed) in the case of the absence or disability of the Chair, or a chair pro tem selected by a majority of the directors present in the case of the absence or disability of all of them, shall preside at any meeting of the Board. The Secretary, or an Assistant Secretary in the case of the absence or disability of the Secretary, or a secretary selected by the presider in the case of the absence or disability of all of them, shall act as the secretary of any meeting of the Board. Members of the Board may attend and participate in a meeting through a telephonic or video conference call or through the use of similar communications equipment, in each case, where all persons participating in the meeting can hear each other, and participation in a meeting in this manner will constitute presence in person at the meeting.

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Section 12. Rules. The Board may adopt any rules that in its judgment are appropriate or advisable for the conduct of its meetings and its exercise, conduct, and control of the corporate powers, business, and property of the Corporation, in each case, consistent with applicable law, the Articles of Incorporation, these Bylaws, and the Corporation’s Code of Ethics.

Section 13. Minutes. The Board shall cause to be kept a complete record of its meetings and acts and of the proceedings of the shareholders.

Section 14. Powers of the Board. In addition to the powers and authorities conferred by applicable law, the Articles of Incorporation, and these Bylaws, the Board may exercise all such powers and authorities of the Corporation and do all such lawful acts and things as are not by law prohibited and are not required or directed to be exercised or done by the shareholders.

Section 15. Compensation of Directors. The compensation to be paid to the directors shall be determined from time to time by the Board, based upon the recommendations of the Compensation Committee, but no such compensation for service as a director may be paid to any director who shall at the time be receiving a salary from the Corporation or any of its subsidiaries as an officer thereof.

Section 16. Lead Director. At any time when the Chair of the Board does not qualify as an Independent Director, the Independent Directors shall, by a majority vote at a meeting consisting solely of Independent Directors, appoint one of the Independent Directors as Lead Director. The Lead Director shall have the following authority and responsibilities: (a) to preside at meetings of the full Board, if the Chair is not present; (b) to convene periodic meetings of Independent Directors (at which only Independent Directors are present) and preside over such meetings; (c) to approve agendas for Board meetings and information to be sent to the Board; (d) to approve schedules of Board meetings, to assure there is sufficient time to discuss all agenda items; (e) to serve as a liaison between the Independent Directors and the Chair; (f) to hold periodic meetings with the Chief Executive Officer and Chair to discuss matters of importance to the Independent Directors, act as the Independent Directors’ informal spokesperson, and help facilitate the Board’s oversight of management; (g) to serve as an advocate for the interests of the Corporation’s shareholders; (h) if requested by major shareholders of the Corporation, to ensure that the Lead Director is available for consultation and direct communications; and (i) to coordinate the activities of the other Independent Directors and perform such other duties and responsibilities as a majority of the Independent Directors may specify from time to time. A Lead Director will hold office until the earlier of (A) the later of the first regular meeting of the Board in the following calendar year or the date when the Lead Director’s successor is duly elected and qualified or (B) the effective date of the Lead Director’s removal, resignation, death, or disqualification. An Independent Director may be reappointed as Lead Director for one or more additional one-year terms.

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ARTICLE IV

Committees

Section 1. Committees. Subject to applicable law, the Board may exercise, conduct, or control the corporate powers, business, or property of the Corporation through committees of the Board (“Committees”) that consist of directors or officers of the Corporation or any of its subsidiaries. The Board will create a Compensation Committee, a Corporate Audit Committee, a Corporate Governance & Nominating Committee, and a Risk Committee that, in each case, complies with applicable law (including applicable banking or securities regulations and applicable listing rules). The Board may create other Committees that, in its judgment, are necessary, appropriate, or advisable. The Board will approve and from time to time may amend a Charter for each Committee that describes its purpose, membership, procedures, duties, rights, powers, and authorities. The Board, by resolution, may assign or delegate additional duties, rights, powers, or authorities to a Committee if necessary, appropriate, or advisable in the judgment of the Board.

Section 2. Compensation of Committee Members. The Board, after considering any recommendation of the Compensation Committee, will determine the compensation to be paid to the members of Committees. But no person who is receiving a salary as an officer of the Corporation or any of its subsidiaries will be entitled to compensation for serving as a member of one or more Committees.

ARTICLE V

Officers

Section 1. Executive Officers. Any person who is appointed by the Board to serve both as Chair of the Board and as Chief Executive Officer may perform or otherwise do any act required or permitted by any provision of The General and Business Corporation Law of Missouri to be done by the President of the Corporation. In addition to any Chief Executive Officer, the executive officers of the Corporation shall be a President, a Secretary, any Executive or Senior Vice Presidents, and such other executive officers as shall be appointed by the Board, all of whom shall be chosen and appointed by the Board. Any person may hold two or more offices, except the offices of Secretary and any of Chief Executive Officer or President.

Section 2. Subordinate Officers. The Board, any Chief Executive Officer, or the President may appoint such additional subordinate officers, including vice presidents and assistant vice presidents, as any of them may deem necessary, appropriate, or advisable.

Section 3. Term of Office and Removal. Each executive officer or subordinate officer may be appointed with or without a fixed term. Any Chief Executive Officer may at any time, with or without cause, be removed from that office by the Board. The President may at any time, with or without cause, be removed from that office by the Board or any Chief Executive Officer. Any other executive officer or any subordinate officer may be removed from that office at any time, with or without cause, by the Board, any Chief Executive Officer, the President, or any other officer authorized by any of them.

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Section 4. Compensation. The Compensation Committee shall determine, from time to time but at least annually, and may adjust the compensation of any Chief Executive Officer, all other officers of the Corporation or its subsidiaries covered by Rule 16a-1(f) under the Exchange Act, and any other officers of the Corporation or its subsidiaries identified by the Compensation Committee from time to time. Any Chief Executive Officer or, if none exists, the President, directly or indirectly through one or more designees, shall determine from time to time and may adjust the non-equity compensation of other officers and employees of the Corporation or its subsidiaries.

Section 5. Duties and Powers of the Officers. Any Chief Executive Officer or, if none exits, the President will possess the general executive powers and authorities of the Corporation and will possess any other powers, authorities, duties, and obligations that are identified from time to time generally or specifically by the Board, except to the extent otherwise provided by applicable law. The President (if no Chief Executive Officer exists) and all executive officers and subordinate officers will possess any powers, authorities, duties, and obligations that are identified generally or specifically from time to time by the Board, any Chief Executive Officer, or the President (if no Chief Executive Officer exists) directly or indirectly through one or more designees, except in each case to the extent otherwise provided by applicable law. The Secretary shall keep and maintain custody of (a) the minutes of the proceedings of the shareholders and the Board, (b) the corporate seal of the Corporation, which the Secretary is authorized to affix to all instruments and other documents requiring the Corporation’s seal, and (c) all other corporate records entrusted by the Board, any Chief Executive Officer, or the President to the Secretary.

ARTICLE VI

Agents and Attorneys

Any Chief Executive Officer, the President, or any executive officer designated by any Chief Executive Officer or the President may appoint such agents and legal representatives of the Corporation as any one of them may deem necessary, appropriate, or advisable, and any one of them may, by power of attorney, authorize such agents or legal representatives to represent the Corporation and for it and in its name, place, and stead and for its use and benefit to transact any and all business, to the extent authorized, which the Corporation is authorized to transact or do by its Articles of Incorporation, these Bylaws, or applicable law, and in its name, place, and stead and as its corporate act and deed to sign, acknowledge, and execute any and all contracts, instruments, and other documents necessary, appropriate, or advisable in the transaction of such business as fully to all intents and purposes as the Corporation may or could do if it acted by and through its regularly elected and qualified officers.

ARTICLE VII

Certificate of Stock, Uncertificated Shares, and Transfers

Section 1. Issuance. Shares of stock of the Corporation may be certificated or uncertificated. Except as provided by applicable law, the rights and obligations of the holders of uncertificated shares and the rights and obligations of holders of certificates representing shares of stock of the same class and same series shall be identical. Each holder of stock represented by certificates shall be entitled to have a certificate. The certificates of stock shall be in such form as the Board shall determine. Each certificate shall be signed by the Chair of the Board, any Chief Executive Officer,

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or the President and by the Secretary or an Assistant Secretary and shall express on its face its number, date of issuance, and the number of shares for which and the person to whom it is issued. Any of or all of the signatures may be facsimile, engraved, printed, or otherwise reproduced. In case any officer, transfer agent, or registrar who has signed or whose facsimile signature has been placed on a certificate shall have ceased to be such officer, transfer agent, or registrar before such certificate is issued, such certificate may nevertheless be issued by the Corporation with the same effect as if the person were an officer, transfer agent, or registrar at the date of its issue. Each shareholder of the Corporation whose shares are uncertificated shall be entitled to receive a statement of holdings as evidence of share ownership.

Section 2. Transfer of Stock. Shares of stock of the Corporation shall be transferable only on the stock transfer books of the Corporation, which shall be in the possession of the Secretary or a transfer agent of the Corporation. No transfer of stock shall be valid against the Corporation until the same is so entered upon its stock transfer books by an entry showing from and to whom the stock is transferred, and (i) if the stock is certificated, the transfer shall not be valid unless and until the old certificate is surrendered to the Corporation for cancellation, duly indorsed and accompanied by proper evidence of succession, assignment, or transfer, and any other provisions of applicable law are satisfied or (ii) if the stock is uncertificated, the transfer shall not be valid unless and until accompanied by a duly executed stock transfer power or other proper transfer instructions from the registered owner of such uncertificated stock and any other provisions of applicable law are satisfied.

Section 3. Old Certificate To Be Canceled. No new certificated or uncertificated shares shall be issued in place of previously issued certificated shares until the former certificate or certificates for the shares represented thereby shall have been surrendered to and canceled by the Secretary or a transfer agent of the Corporation, by writing across the face thereof the word “Canceled” with the date of cancellation. In case any certificate shall be claimed to be lost, destroyed, or wrongfully taken, no new or duplicate certificate shall be issued for the shares represented thereby and no new certificate shall be issued upon a transfer of such shares, except pursuant to a judgment of a court of competent jurisdiction, duly given and made in accordance with the laws of the State of Missouri, or upon a corporate surety bond or other indemnity in form and amount satisfactory to the Corporation being furnished to the Corporation and other provisions of applicable law being satisfied.

Section 4. Treasury Stock. All issued and outstanding stock of the Corporation that may be purchased or otherwise reacquired by the Corporation shall be treasury stock and, except as otherwise required by The General and Business Corporation Law of Missouri, shall be subject to disposal by action of the Board. Such stock shall neither vote nor participate in dividends while held by the Corporation.

Section 5. Registered Shareholders. The Corporation shall be entitled to treat the registered holder of any share or shares of stock whose name appears on the Corporation’s books as the owner or holder thereof as the absolute owner of all legal and equitable interest therein for all purposes and, except as may be otherwise provided by applicable law, shall not be bound to recognize any equitable or other claim to or interest in such share or shares of stock on the part of any other person, regardless of whether or not it shall have actual or implied notice of such claim or interest.

Section 6. Closing of Stock Transfer Books and Fixing of Record Dates. The Board shall have power to close the stock transfer books of the Corporation for a period not exceeding seventy (70)

Page 11 of 16

days preceding the date of any meeting of the shareholders or the date of payment of any dividend or the date for the allotment of rights or the date when any change, conversion, or exchange of shares shall go into effect; provided, however, that in lieu of closing the stock transfer books, the Board may fix in advance a date, not exceeding seventy (70) days preceding the date of any meeting of the shareholders or the date for the payment of any dividend or the date for the allotment of rights or the date when any change, conversion, or exchange of shares shall go into effect, as a record date for the determination of the shareholders entitled to notice of, and to vote at, such meeting, and any adjournment or postponement thereof, or entitled to receive payment of such dividend, or entitled to such allotment of rights, or entitled to exercise the rights in respect of such change, conversion, or exchange of shares. In such case only the shareholders who are shareholders of record on the date of closing the stock transfer books or on the record date so fixed shall be entitled to notice of, and to vote at, such meeting, and any adjournment or postponement thereof, or to receive payment of such dividend, or to receive such allotment of rights, or to exercise such rights, as the case may be, notwithstanding any transfer of any shares on the books of the Corporation after such date of closing the stock transfer books or such record date fixed.

ARTICLE VIII

Seal

The Corporation may have a corporate seal, which shall have inscribed around the circumference thereof “UMB Financial Corporation – Missouri” and elsewhere thereon shall bear the words “Corporate Seal.” Any corporate seal may be affixed by impression or may be facsimile, engraved, printed, or otherwise reproduced.

ARTICLE IX

Miscellaneous Provisions

Section 1. Fiscal Year. The fiscal year of the Corporation shall be as determined from time to time by the Board. Absent action by the Board, the fiscal year of the Corporation shall begin on the first day of January in each calendar year and shall terminate on the last day of December of the same calendar year.

Section 2. Failure or Refusal to Give Notice on Request. If the Secretary or an Assistant Secretary, upon written request by the proper party or parties as provided by applicable law, the Articles of Incorporation, or these Bylaws, shall fail or refuse to give any notice which the Secretary or Assistant Secretary is required to give, the party or parties entitled to require that such notice be given may sign and issue a notice of the character and in the manner so provided and setting forth in such notice the fact of such failure or refusal on the part of the Secretary or Assistant Secretary to give the notice as required, and such notice so signed and issued shall have the same force and effect as though signed and issued by the Secretary or Assistant Secretary.

Section 3. Checks, Drafts, and Other Instruments. All checks and drafts on the Corporation’s bank accounts, all bills of exchange and promissory notes of the Corporation, and all acceptances, obligations, and other instruments for the payment of money by the Corporation shall be signed by such officer or officers or agent or agents as shall be duly authorized from time to time by the Board; provided, however, that the Board may authorize the use of facsimile signatures of such officers or agents upon such terms and subject to such conditions as the Board may determine.

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Section 4. Indemnification of Directors and Officers.

a. Any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative (other than an action, suit, or proceeding by or in the right of the Corporation) by reason of the fact that he or she is or was a director or officer of the Corporation or any of its subsidiaries (a subsidiary being defined as another corporation or other entity included in a controlled group of corporations or other entities of which the Corporation is a common parent), or is or was serving at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust, or other enterprise (which shall be deemed to include service in a fiduciary capacity or otherwise with respect to any employee benefit plan of the Corporation or any other corporation or other entity) shall, to the maximum extent permitted by applicable law, be indemnified against expenses (including attorneys’ fees), judgments, fines, and amounts paid in settlement (which shall include any excise taxes assessed against a person with respect to an employee benefit plan) actually and reasonably incurred by him or her in connection with such action, suit, or proceeding, if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Corporation or the participants or beneficiaries of any employee benefit plan, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. Any employee of the Corporation or its subsidiaries, when acting in a supervisory or managerial capacity, may likewise be indemnified, but such indemnification is not mandatory. The termination of any action, suit, or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that his or her conduct was unlawful.

b. Any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding by or in the right of the Corporation to procure a judgment in its favor by reason of the fact that he or she is or was a director or officer of the Corporation, or is or was serving at the request of the Corporation as a director or officer of another corporation, partnership, joint venture, trust, or other enterprise shall, to the maximum extent permitted by applicable law, be indemnified against expenses (including attorneys’ fees) and amounts paid in settlement actually and reasonably incurred by him or her in connection with the defense or settlement of the action, suit, or proceeding if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Corporation. Any employee of the Corporation or its subsidiaries, when acting in a supervisory or managerial capacity, may likewise be indemnified, but such indemnification is not mandatory. However, no indemnification shall be made in respect of any claim, issue, or matter as to which any person shall have been adjudged to be liable for negligence or misconduct in the performance of his or her duty to the Corporation unless and only to the extent that a court determines that, despite the adjudication of liability and in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper.

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c. Except as may otherwise be provided in the Articles of Incorporation or these Bylaws, any person who has been successful on the merits or otherwise in defense of any action, suit, or proceeding referred to in subsections (a) or (b) above, or in defense of any claim, issue, or matter therein, shall be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred by him or her in connection therewith.

d. Except as provided in subsection (e), indemnification of anyone under subsections (a) or (b), unless ordered by a court, shall be made by the Corporation only as authorized in each case upon a determination that it is proper because the director, officer, or employee has met the applicable standard of conduct. Such a determination may be made by the Board by a majority vote of a quorum consisting of directors who were not parties to the action, suit, or proceeding, or if such a quorum is not obtainable or even if obtainable, a quorum of disinterested directors (by independent legal counsel in a written opinion) or by the shareholders.

e. Notwithstanding anything herein to the contrary, unless required by applicable law, no director, officer, or employee shall be indemnified against any expenses, penalties, or other payments incurred:

i. in an administrative action, suit, or proceeding instituted by a bank regulatory agency to the extent that such indemnification would constitute a “prohibited indemnification payment” (as such term is defined under applicable provisions of the Federal Deposit Insurance Act and regulations thereunder), except under circumstances specifically permitted by such Act and regulations, or otherwise would constitute an indemnification payment that is prohibited by applicable law, or

ii. unless he or she notifies the Corporation in writing of the threatened, pending, or completed action, suit, or proceeding promptly on becoming aware thereof and, before incurring expense of any kind therein or in connection therewith, gives the Corporation or its insurer the opportunity to provide an independent attorney to represent him or her in, and to otherwise counsel him or her in connection with, any such action, suit, or proceeding, or

iii. in connection with any settlement of a claim asserted or action, suit, or proceeding brought or threatened against him or her unless the Board (A) approved the amount of such settlement as (I) reasonable and (II) not affecting the Corporation’s safety and soundness or (B) could not, by reason of the action, intervention, or threat of a court, government agency, or instrumentality, act with complete independence and free of circumscription in relation to the subject matter, or

iv. in connection with any claim made against him or her for an accounting of profits made from the purchase or sale by him or her of securities of the Corporation within the meaning of Section 16b of the Exchange Act or similar provisions of any applicable law, or

v. in connection with any action, suit, or proceeding (or part thereof) initiated by such person claiming indemnification unless such action, suit, or proceeding (or part thereof) initiated by such person was authorized by the Board.

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f. The right to indemnification of officers and directors shall include the right, to the extent permissible under applicable law, to be paid by the Corporation reasonable expenses, including attorneys’ fees (but not including any retainers or prepayments of fees, unless such retainers or prepayments are approved by the Board), incurred in defending any such action, suit, or proceeding, in advance of its final disposition; provided, however, that the payment of such expenses in advance of the final disposition of such proceeding shall be made only:

i. upon delivery to the Corporation of a written agreement, by or on behalf of such director or officer, in which such director or officer agrees to repay all amounts so advanced if it should be ultimately determined by a court or other tribunal or by the Board that (A) such person is not entitled to be indemnified under this Section or otherwise or (B) such director or officer is assessed a civil money penalty imposed by a bank regulatory agency, is removed or prohibited from banking, or is required under a final order to cease an action or take an affirmative action by a bank regulatory agency, and

ii. until such time as the Board has made a final determination regarding indemnification under subsection (d). If the Board’s final determination is that indemnification is not proper, further advancement of expenses, including attorneys’ fees, will immediately cease. If the Board’s final determination is that indemnification is proper, indemnification of expenses, including attorneys’ fees, will continue.

g. If the claim of an officer or director for indemnification under these Bylaws is not paid in full by the Corporation within thirty (30) days after a written claim therefor has been received by the Corporation, the claimant may any time thereafter bring suit against the Corporation to recover the unpaid amount of the claim, and if successful in whole or in part, the claimant shall be entitled to be paid also the expense of prosecuting such claim. Neither the failure of the Corporation (including the Board, independent legal counsel, or shareholders) to have made a determination prior to the commencement of such action that the claimant is entitled to indemnification or advancement under the circumstances, nor an actual determination by the Corporation (including the Board, independent legal counsel, or shareholders) that the claimant is not entitled to indemnification or advancement, shall be a defense to the action or create a presumption that the claimant is not entitled to indemnification or advancement.

h. The Corporation may purchase and maintain insurance or another arrangement on behalf of any person who is or was a director, officer, or employee of the Corporation or any of its subsidiaries or is or was serving at the request of the Corporation as a director, officer, or employee of another corporation, partnership, joint venture, trust, or other enterprise, against any liability asserted against him or her and incurred by him or her in any such capacity, or arising out of his or her status as such, whether or not the Corporation would have the power to indemnify him or her against such liability under these Bylaws or applicable law; provided, however, that such insurance or other arrangement shall not provide coverage inconsistent with that permitted by applicable law.

i. The indemnification provided for directors, officers, or employees of the Corporation shall not be deemed exclusive of any other rights to which those officers, directors, or employees may be entitled under the Articles of Incorporation, these Bylaws, or any agreement, vote of shareholders or disinterested directors, or otherwise, both as to actions in his or her official capacity and as to actions in another capacity while holding such office, and shall continue as to any person who has ceased to be a director, officer, or employee of the Corporation and shall inure to the benefit of his or her heirs, executors, and administrators.

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j. The right of any officer or director to be indemnified, reimbursed, or advanced amounts pursuant hereto:

i. is a contract right based upon good and valuable consideration, pursuant to which the person entitled thereto may bring suit as if the provisions hereof were set forth in a separate written contract between the Corporation and the director or officer,

ii. is intended to be retroactive and shall be available with respect to events occurring prior to the adoption hereof, and

iii. shall continue to exist after the rescission or restrictive modification hereof with respect to events occurring prior thereto.

Section 5. Amendments to Bylaws. The Board shall have the power to make, alter, amend, or repeal these Bylaws from time to time.

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EX-10.1

Exhibit 10.1

UMB FINANCIAL CORPORATION

2016 LONG-TERM INCENTIVE COMPENSATION PROGRAM

2016 PERFORMANCE-BASED RESTRICTED STOCK AWARD AGREEMENT

                                 , 2016

Pursuant to the UMB Financial Corporation 2016 Long-Term Incentive Compensation Program (the “Program”) established under the UMB Financial Corporation Long-Term Incentive Compensation Plan (the “Plan”), UMB Financial Corporation (the “Company”) hereby grants to [INSERT NAME], as a Participant in the Program (“You” or, as a possessive, “Your”),                      shares of Performance-Based Restricted Stock, as indicated in the “Notification of Grant Award” from Merrill Lynch Equity Award Services, with a Grant Date of                     , 2016 (the “Notification”). This Stock Award is effective only upon the electronic acknowledgement and acceptance of the Stock Award by You and are subject to all of the terms and conditions of this 2016 Performance-Based Restricted Stock Award Agreement (the “Agreement”), the Plan, and the Program (collectively, the “Restricted Stock Documentation”). The Plan and the Program are incorporated in their entirety here by this reference. The Restricted Stock Documentation may be viewed, printed, and accepted by You through the website www.benefits.ml.com and are agreed to by You. Without limiting any other provision herein, You expressly acknowledge that Section 7 of the Program and other provisions of the Restricted Stock Documentation authorize the Compensation Committee and the Company, under the circumstances stated therein, to “claw back” or otherwise reclaim or recover all or a portion of the Restricted Stock referenced in this Agreement or its cash equivalent. Each term used but not otherwise defined in this Agreement has the meaning set forth in the Program or, if not defined there, in the Plan.

1. Performance-Based Restricted Stock

a) Dividends and Distributions on Performance-Based Restricted Stock. Any cash dividends or distributions on unvested Performance-Based Restricted Stock will be used to purchase additional shares of Company Stock pursuant to the Company’s dividend reinvestment plan, and any Company Stock so purchased will be subject to the same rights, restrictions, and provisions applicable to the Performance-Based Restricted Stock upon which such cash dividends or distributions were paid.

b) Performance-Based Restricted Stock Vesting Schedule. Subject to the terms and conditions of the Restricted Stock Documentation, including the satisfaction (in whole or in part) of the Performance Standard as provided in the Program, You will become 100% vested in the shares of Performance-Based Restricted Stock upon Your completion of Continuous Service for the period of time beginning on the Grant Date and continuing until the conclusion of the Performance Period (such date of conclusion, the “Vesting Date”). Prior to the Vesting Date, You will not be vested in any shares of the Performance-Based Restricted Stock.

c) Termination of Continuous Service. If Your Continuous Service terminates for any reason other than Your death, Disability, or Qualified Retirement, the Company shall automatically reacquire, with no further action and for no additional consideration, and You shall be deemed to have waived and released any right or interest that You may then have in, all shares of Performance-Based Restricted Stock that have not vested under the Restricted Stock Documentation as of the date of termination. If Your Continuous Service terminates due to Your death, Disability, or Qualified Retirement, all or a portion of Your unvested shares of Performance-Based Restricted Stock may vest on the terms and conditions described in Section 5 of the Program. But to the extent that any shares of Performance-Based Restricted Stock do not vest as described in Section 5 of the Program, the Company shall automatically reacquire, with no further action and for no additional consideration, and You shall be deemed to have waived and released any right or interest that You may then have in, those unvested shares of Performance-Based Restricted Stock.

d) Failure to Achieve the Performance Standard. Despite Your completion of the requisite Continuous Service described in this Section 1, to the extent that the Performance Standard is not achieved as described in Section 6 of the Program and all or a portion of Your shares of Performance-Based Restricted Stock are consequently not earned, the Company shall automatically reacquire, with no further action and for no additional consideration, and You shall be deemed to have waived and released any right or interest that You may then have in, all of those unearned shares of Performance-Based Restricted Stock.

2. Additional Terms

a) Non-Transferability. Your Restricted Stock shall not be transferable other than by the laws of descent and distribution or pursuant to a qualified domestic relations order. Any attempted assignment, transfer, pledge, hypothecation or other disposition of Your Restricted Stock during the time that it is restricted and the levy of any execution, attachment or similar process upon Restricted Stock while it is restricted shall be null and void and without effect.

b) Restricted Period. The Restricted Period for Restricted Stock under this Agreement and the related Restricted Stock Documentation will end once You have earned and become vested in the Restricted Stock. You expressly acknowledge, however, that applicable law and policies of the Company may impose other restrictions or limitations on Company Stock that you own or hold.

c) No Waiver. No waiver of any breach or condition of any of the Restricted Stock Documentation will effect a waiver of any subsequent or other breach or condition, whether similar or dissimilar. No failure to exercise or delay in exercising any right or remedy under any of the Restricted Stock Documentation will effect a waiver of that right or remedy. No single or partial exercise of any right or remedy under any of the Restricted Stock Documentation will preclude any other or further exercise of that right or remedy or any other right or remedy. Except as otherwise expressly provided, the rights and remedies under the Restricted Stock Documentation are cumulative and not exclusive or exhaustive.

2

d) No Employment Contract. Nothing in the Restricted Stock Documentation or the grant of any Restricted Stock shall confer on You any right to continue in the employ of the Company or any Affiliate or affect in any way the right of the Company or any Affiliate to terminate Your employment at any time. Except to the extent that the terms of any written employment contract between the Company and You may expressly provide otherwise, the Company and its Affiliates shall be under no obligation to continue Your employment for any period of specific duration and may terminate Your employment at any time, with or without cause, free from any liability or any claim under the Restricted Stock Documentation or otherwise.

e) Notices. Any notice to the Company under the Restricted Stock Documentation must be in writing and addressed to the Company in care of its Secretary at 1010 Grand Boulevard, Kansas City, Missouri 64106. Any notice to You under the Restricted Stock Documentation must be in writing and addressed to You at the address last known and on file with the Company. Notices must be delivered as follows (with notice deemed given as indicated): (i) by personal delivery, upon delivery; (ii) by nationally recognized express courier, upon delivery; (iii) by certified or registered mail, postage prepaid and return receipt requested, upon delivery; and (iv) by first-class U.S. mail, postage prepaid, three (3) calendar days following delivery to the United States Postal Service.

f) Construction. This Agreement and the Stock Award are made and granted pursuant to the Restricted Stock Documentation and are in all respects limited by and subject to the express terms and provisions of the Restricted Stock Documentation.

g) General. The Company shall pay all original issue and transfer taxes with respect to the issue and transfer of shares pursuant hereto and all other fees and expenses necessarily incurred by the Company in connection therewith.

h) Binding on Successors. This Agreement is binding on the parties hereto, their heirs, and their respective successors and permitted assigns.

3. Acknowledgements

This Agreement constitutes both the Stock Award Agreement and the Restricted Stock Agreement applicable to the Restricted Stock granted herein. By accepting this Stock Award, You acknowledge receipt of, and understand and agree to the terms and conditions contained in, the Restricted Stock Documentation. Such acknowledgment and agreement by You will be deemed to have been given by Your electronic acknowledgment and acceptance of the Notification as provided for therein. You further accept as binding, conclusive, and final all decisions and interpretations of the Compensation Committee upon any questions or other matters arising under the Restricted Stock Documentation. You further acknowledge that, as of the Grant Date, the Restricted Stock Documentation set forth the entire understanding between You and the Company regarding the Stock Award and supersede all prior oral and written agreements on that subject with the exception of (a) Options and Restricted Stock previously granted and delivered to You under the Plan, (b) the UMB Financial Corporation 2002 Incentive Stock Option Plan, and (c) the following agreements only:

3

Other Agreements: None

UMB FINANCIAL CORPORATION
BY:	/s/ J. Mariner Kemper
	J. Mariner Kemper, Chairman & CEO

4

EX-10.2

Exhibit 10.2

UMB FINANCIAL CORPORATION

2016 LONG-TERM INCENTIVE COMPENSATION PROGRAM

2016 SERVICE-BASED RESTRICTED STOCK AWARD AGREEMENT

                                 , 2016

Pursuant to the UMB Financial Corporation 2016 Long-Term Incentive Compensation Program (the “Program”) established under the UMB Financial Corporation Long-Term Incentive Compensation Plan (the “Plan”), UMB Financial Corporation (the “Company”) hereby grants to [INSERT NAME], as a Participant in the Program (“You” or, as a possessive, “Your”),                     shares of Service-Based Restricted Stock as indicated in the “Notification of Grant Award” from Merrill Lynch Equity Award Services, with a Grant Date of                     , 2016 (the “Notification”). This Stock Award is effective only upon the electronic acknowledgement and acceptance of the Stock Award by You and is subject to all of the terms and conditions of this 2016 Service-Based Restricted Stock Award Agreement (the “Agreement”), the Plan, and the Program (collectively, the “Restricted Stock Documentation”). The Plan and the Program are incorporated in their entirety here by this reference. The Restricted Stock Documentation may be viewed, printed, and accepted by You through the website www.benefits.ml.com and are agreed to by You. Without limiting any other provision herein, You expressly acknowledge that Section 7 of the Program and other provisions of the Restricted Stock Documentation authorize the Compensation Committee and the Company, under the circumstances stated therein, to “claw back” or otherwise reclaim or recover all or a portion of the Restricted Stock referenced in this Agreement or its cash equivalent. Each term used but not otherwise defined in this Agreement has the meaning set forth in the Program or, if not defined there, in the Plan.

1. Service-Based Restricted Stock

a) Dividends and Distributions on Service-Based Restricted Stock. Any cash dividends or distributions on unvested Service-Based Restricted Stock will be used to purchase additional shares of Company Stock pursuant to the Company’s dividend reinvestment plan, and any Company Stock so purchased will be subject to the same rights, restrictions, and provisions applicable to the Service-Based Restricted Stock upon which such cash dividends or distributions were paid.

b) Service-Based Restricted Stock Vesting Schedule. Subject to the terms and conditions of the Restricted Stock Documentation, You will vest in the shares of Service-Based Restricted Stock in accordance with the following vesting schedule:

Prior to two (2) full years of Continuous Service measured from the Grant Date, You will be vested in 0% of the shares of the Service-Based Restricted Stock.

Upon two (2) full years of Continuous Service measured from the Grant Date, You will be vested in 50% of the shares of the Service-Based Restricted Stock.

Upon three (3) full years of Continuous Service measured from the Grant Date, You will be vested in an additional 25% (cumulatively 75%) of the shares of the Service-Based Restricted Stock.

Upon four (4) full years of Continuous Service measured from the Grant Date, You will be vested in the final 25% (cumulatively 100%) of the shares of the Service-Based Restricted Stock.

c) Termination of Continuous Service. If Your Continuous Service terminates for any reason other than Your death, Disability, or Qualified Retirement, the Company shall automatically reacquire, with no further action and for no additional consideration, and You shall be deemed to have waived and released any right or interest that You may then have in, all shares of Service-Based Restricted Stock that have not vested under the Restricted Stock Documentation as of the date of termination. If Your Continuous Service terminates due to Your death, Disability, or Qualified Retirement, all or a portion of Your unvested shares of Service-Based Restricted Stock may vest on the terms and conditions described in Section 5 of the Program. But to the extent that any shares of Service-Based Restricted Stock do not vest as described in Section 5 of the Program, the Company shall automatically reacquire, with no further action and for no additional consideration, and You shall be deemed to have waived and released any right or interest that You may then have in, those unvested shares of Service-Based Restricted Stock.

2. Additional Terms

a) Non-Transferability. Your Restricted Stock shall not be transferable other than by the laws of descent and distribution or pursuant to a qualified domestic relations order. Any attempted assignment, transfer, pledge, hypothecation or other disposition of Your Restricted Stock during the time that it is restricted and the levy of any execution, attachment or similar process upon Restricted Stock while it is restricted shall be null and void and without effect.

b) Restricted Period. The Restricted Period for Restricted Stock under this Agreement and the related Restricted Stock Documentation will end once You have earned and become vested in the Restricted Stock. You expressly acknowledge, however, that applicable law and policies of the Company may impose other restrictions or limitations on Company Stock that you own or hold.

c) No Waiver. No waiver of any breach or condition of any of the Restricted Stock Documentation will effect a waiver of any subsequent or other breach or condition, whether similar or dissimilar. No failure to exercise or delay in exercising any right or remedy under any of the Restricted Stock Documentation will effect a waiver of that right or remedy. No single or partial exercise of any right or remedy under any of the Restricted Stock Documentation will preclude any other or further exercise of that right or remedy or any other right or remedy. Except as otherwise expressly provided, the rights and remedies under the Restricted Stock Documentation are cumulative and not exclusive or exhaustive.

2

d) No Employment Contract. Nothing in the Restricted Stock Documentation or the grant of any Restricted Stock shall confer on You any right to continue in the employ of the Company or any Affiliate or affect in any way the right of the Company or any Affiliate to terminate Your employment at any time. Except to the extent that the terms of any written employment contract between the Company and You may expressly provide otherwise, the Company and its Affiliates shall be under no obligation to continue Your employment for any period of specific duration and may terminate Your employment at any time, with or without cause, free from any liability or any claim under the Restricted Stock Documentation or otherwise.

e) Notices. Any notice to the Company under the Restricted Stock Documentation must be in writing and addressed to the Company in care of its Secretary at 1010 Grand Boulevard, Kansas City, Missouri 64106. Any notice to You under the Restricted Stock Documentation must be in writing and addressed to You at the address last known and on file with the Company. Notices must be delivered as follows (with notice deemed given as indicated): (i) by personal delivery, upon delivery; (ii) by nationally recognized express courier, upon delivery; (iii) by certified or registered mail, postage prepaid and return receipt requested, upon delivery; and (iv) by first-class U.S. mail, postage prepaid, three (3) calendar days following delivery to the United States Postal Service.

f) Construction. This Agreement and the Stock Award are made and granted pursuant to the Restricted Stock Documentation and are in all respects limited by and subject to the express terms and provisions of the Restricted Stock Documentation.

g) General. The Company shall pay all original issue and transfer taxes with respect to the issue and transfer of shares pursuant hereto and all other fees and expenses necessarily incurred by the Company in connection therewith.

h) Binding on Successors. This Agreement is binding on the parties hereto, their heirs, and their respective successors and permitted assigns.

3. Acknowledgements

This Agreement constitutes both the Stock Award Agreement and the Restricted Stock Agreement applicable to the Restricted Stock granted herein. By accepting this Stock Award, You acknowledge receipt of, and understand and agree to the terms and conditions contained in, the Restricted Stock Documentation. Such acknowledgment and agreement by You will be deemed to have been given by Your electronic acknowledgment and acceptance of the Notification as provided for therein. You further accept as binding, conclusive, and final all decisions and interpretations of the Compensation Committee upon any questions or other matters arising under the Restricted Stock Documentation. You further acknowledge that, as of the Grant Date, the Restricted Stock Documentation set forth the entire understanding between You and the Company regarding the Stock Award and supersede all prior oral and written agreements on that subject with the exception of (a) Options and Restricted Stock previously granted and delivered to You under the Plan, (b) the UMB Financial Corporation 2002 Incentive Stock Option Plan, and (c) the following agreements only:

3

Other Agreements: None

UMB FINANCIAL CORPORATION
BY:	/s/ J. Mariner Kemper
	J. Mariner Kemper, Chairman & CEO

4

EX-10.3

Exhibit 10.3

UMB FINANCIAL CORPORATION

2016 LONG-TERM INCENTIVE COMPENSATION PROGRAM

2016 STOCK OPTION AWARD AGREEMENT

                             , 2016

Pursuant to the UMB Financial Corporation 2016 Long-Term Incentive Compensation Program (the “Program”) established under the UMB Financial Corporation Long-Term Incentive Compensation Plan (the “Plan”), UMB Financial Corporation (the “Company”) hereby grants to [INSERT NAME], as a Participant in the Program (“You” or, as a possessive, “Your”),                     Options, as indicated in the “Notification of Grant Award” from Merrill Lynch Equity Award Services (“Merrill Lynch”), with a Grant Date of                     , 2016 (the “Notification”). This Stock Award is effective only upon the electronic acknowledgement and acceptance of the Stock Award by You and is subject to all of the terms and conditions of this 2016 Stock Option Award Agreement (the “Agreement”), the Plan, and the Program (collectively, the “Stock Option Documentation”). The Plan and the Program are incorporated in their entirety here by this reference. The Stock Option Documentation may be viewed, printed, and accepted by You through the website www.benefits.ml.com and are agreed to by You. Without limiting any other provision herein, You expressly acknowledge that Section 7 of the Program and other provisions of the Stock Option Documentation authorize the Compensation Committee and the Company, under the circumstances stated therein, to “claw back” or otherwise reclaim or recover all or a portion of the Options referenced in this Agreement or their cash equivalent. Each term used but not otherwise defined in this Agreement has the meaning set forth in the Program or, if not defined there, in the Plan.

1. Options

a) Option Price. The purchase price of the shares of Company Stock subject to the Options upon exercise is $             per share (the “Option Price”), subject to payment in accordance with Section 7.5 of the Plan.

b) Term of Option. The term of the Options is a period beginning on the Grant Date and expiring on the tenth anniversary of the Grant Date (the “Term”). In the event of any partial exercise of the Options, the portion of the Options exercised will be for the shares of Company Stock subject to the Options which became exercisable at the earliest date.

c) Option Vesting/Exercise Schedule. Subject to the terms and conditions of the Stock Option Documentation, the Options will become exercisable in accordance with the following vesting schedule:

Prior to two (2) full years of Continuous Service measured from the Grant Date, 0% of the Options are exercisable and no shares of Company Stock may be purchased through the Options.

Upon two (2) full years of Continuous Service measured from the Grant Date, You may exercise 50% of the Options and purchase up to 50% of the shares subject to the Options.

Upon three (3) full years of Continuous Service measured from the Grant Date, You may exercise an additional 25% of the Options (75% of the Options cumulatively) and purchase up to 75% of the shares subject to the Options.

Upon four (4) full years of Continuous Service measured from the Grant Date, You may exercise an additional 25% of the Options (100% of the Options cumulatively) and purchase up to 100% of the shares subject to the Options.

If Your Continuous Service terminates for any reason other than Your death, Disability, or Qualified Retirement, the Options will immediately and automatically terminate and cease to be exercisable, and You shall be deemed to have waived and released any right or interest that You may then have in the Options, as of the date of termination.

In the event of a Change in Control or if Your Continuous Service terminates due to Your death, Disability, or Qualified Retirement, all or a portion of the Options will vest and become immediately exercisable within the periods of time for exercising vested Options on the terms and conditions described in Section 7 of the Plan.

2. Additional Terms

a) Purchase of Shares for Investment and Not Resale. If You are an “affiliate” of the Company under Rule 144 of the Securities Act of 1933, as amended (the “Act”), You (i) represent and warrant that the Options granted to You and all Company Stock purchased pursuant to the exercise of the Options have and will be purchased for investment and not with a view to the distribution or sale thereof; (ii) agree that any sale of such Company Stock by You will be made in compliance with Rule 144 of the Act; (iii) agree that any attempted resale that fails to comply with Rule 144 of the Act will be deemed null and void; and (iv) agree that any certificate(s) representing such Company Stock may contain an express legend identifying such Company Stock as subject to resale restriction.

b) Non-Transferability. The Options granted to You will not be transferable other than as authorized in Section 7 of the Plan. Any attempted assignment, transfer, pledge, hypothecation, or other disposition of Your Options and the levy of any execution, attachment, or similar process upon Your Options, except in any applicable case to the extent authorized in Section 7 of the Plan, will be null and void and without effect.

c) Adjustments. In the event of any stock dividend, stock split, reorganization or recapitalization, the number of shares subject to the Options and the Option Price will be proportionately adjusted in accordance with the terms of the Plan.

d) Method of Exercising Options. Exercisable Options may be exercised by giving notice of exercise to Merrill Lynch (or any replacement stock plan administrator or vendor designated by the Company) in the manner specified from time to time by the Company or the stock plan administrator. Following payment of the Option Price, the purchased shares will be delivered to Your brokerage account at Merrill Lynch (or any other broker or account designated by

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the Company). If any Option will be exercised by any person or persons other than You in compliance with the Stock Option Documentation, the notice of exercise must be accompanied by evidence of the authority of such person or persons to exercise the Option and evidence satisfactory to the Company that any death or other taxes payable with respect to the purchased shares have been paid or otherwise adequately provided for.

e) No Waiver. No waiver of any breach or condition of any of the Stock Option Documentation will effect a waiver of any subsequent or other breach or condition, whether similar or dissimilar. No failure to exercise or delay in exercising any right or remedy under any of the Stock Option Documentation will effect a waiver of that right or remedy. No single or partial exercise of any right or remedy under any of the Stock Option Documentation will preclude any other or further exercise of that right or remedy or any other right or remedy. Except as otherwise expressly provided, the rights and remedies under the Stock Option Documentation are cumulative and not exclusive or exhaustive.

f) No Employment Contract. Nothing in the Stock Option Documentation or the grant of any Option will confer on You any right to continue in the employ of the Company or any Affiliate or affect in any way the right of the Company or any Affiliate to terminate Your employment at any time. Except to the extent that the terms of any written employment contract between the Company and You may expressly provide otherwise, the Company and its Affiliates will be under no obligation to continue Your employment for any period of specific duration and may terminate Your employment at any time, with or without cause, free from any liability or any claim under the Stock Option Documentation or otherwise.

g) Notices. Any notice to the Company under the Stock Option Documentation must be in writing and addressed to the Company in care of its Secretary at 1010 Grand Boulevard, Kansas City, Missouri 64106. Any notice to You under the Stock Option Documentation must be in writing and addressed to You at the address last known and on file with the Company. Notices must be delivered as follows (with notice deemed given as indicated): (i) by personal delivery, upon delivery; (ii) by nationally recognized express courier, upon delivery; (iii) by certified or registered mail, postage prepaid and return receipt requested, upon delivery; and (iv) by first-class U.S. mail, postage prepaid, three (3) calendar days following delivery to the United States Postal Service.

h) Construction. This Agreement and the Stock Award are made and granted pursuant to the Stock Option Documentation and are in all respects limited by and subject to the Stock Option Documentation.

i) General. The Company will pay all original issue and transfer taxes with respect to the issue and transfer of shares pursuant hereto and all other fees and expenses necessarily incurred by the Company in connection therewith. You will not have any rights of a shareholder until You have exercised the Options, paid the Option Price and such shares have been transferred to You or Your brokerage account upon the exercise of the Options.

j) Binding on Successors. This Agreement is binding on the parties hereto, their heirs, and their respective successors and permitted assigns.

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3. Acknowledgements

This Agreement constitutes both the Stock Award Agreement and the Stock Option Agreement applicable to the Options granted herein. By accepting this Stock Award, You acknowledge receipt of, and understand and agree to the terms and conditions contained in, this Agreement and all other Stock Option Documentation. Such acknowledgment and agreement by You will be deemed to have been given by Your electronic acknowledgment and acceptance of the Notification as provided for therein. You further accept as binding, conclusive, and final all decisions and interpretations of the Compensation Committee upon any questions or other matters arising under the Stock Option Documentation. You further acknowledge that, as of the Grant Date, the Stock Option Documentation sets forth the entire understanding between You and the Company regarding the Stock Award and the associated Company Stock and supersede all prior oral and written agreements on that subject with the exception of (a) Options and Restricted Stock previously granted to You under the Plan, (b) the UMB Financial Corporation 2002 Incentive Stock Option Plan, and (c) the following agreements only:

Other Agreements: None

UMB FINANCIAL CORPORATION
BY:	/s/ J. Mariner Kemper
	J. Mariner Kemper, Chairman & CEO

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EX-10.4

Exhibit 10.4

June 1, 2016

Dear John,

It is our pleasure to extend an offer to you as EVP/General Counsel effective, Monday, June 6, 2016. The position will report to Mariner Kemper, Chairman, President and CEO UMBFC

This letter is to confirm the following details of our offer:

• A salary at a gross annual rate of $250,000. Such salary shall be payable over 52 weeks as earned and in accordance with the Company’s standard payroll procedures.

• Eligibility to continue participation in the 2016 Short Term Incentive Program (STIP) contingent upon approval by the Board Compensation Committee, subject to all terms of the plan at a target of 35% of base pay.

• Eligibility to participate in the 2017 Long Term Incentive Program (LTIP) contingent upon approval by the Board Compensation Committee, subject to all terms of the plan at 50% of base pay.

Please contact me if you have any questions.

Congratulations on your new position! We wish you continued success in your UMB career.

Sincerely,

Mariner Kemper

Chairman, President and CEO UMBFC

I have read and accept the terms and conditions of this job offer.

Date

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 Quarterly Report on Form 10-Q as of, and for the period ended, June 30, 2016 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: August 2, 2016

/s/ J. Mariner Kemper

J. Mariner Kemper

Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT

I, Michael D. Hagedorn, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q as of, and for the period ended June 30, 2016 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: August 2, 2016

/s/ Michael D. Hagedorn

Michael D. Hagedorn

Vice Chairman and

Chief Financial Officer

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 as of, and for the period ended, June 30, 2016, 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, as amended; 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: August 2, 2016

/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.

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 as of, and for the period ended, June 30, 2016, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Michael D. Hagedorn, Vice Chairman and Chief Financial Officer of the Company, hereby certify, pursuant to 18 U.S.C. Section 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, as amended; 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: August 2, 2016

/s/ Michael D. Hagedorn

Michael D. Hagedorn

Vice Chairman and

Chief Financial Officer

XML

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 28, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2
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		49,529,830

XML

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Loans	$ 10,083,266	$ 9,430,761
Allowance for loan losses	(84,666)	(81,143)
Net loans	9,998,600	9,349,618
Loans held for sale	10,495	589
Investment securities:
Available for sale	6,771,179	6,806,949
Held to maturity (fair value of $991,715 and $691,379, respectively)	880,600	667,106
Trading securities	56,311	29,617
Other securities	66,300	65,198
Total investment securities	7,774,390	7,568,870
Federal funds sold and securities purchased under agreements to resell	196,283	173,627
Interest-bearing due from banks	379,611	522,877
Cash and due from banks	355,732	458,217
Premises and equipment, net	277,060	281,471
Accrued income	92,650	90,127
Goodwill	228,396	228,346
Other intangibles, net	40,411	46,782
Other assets	380,448	373,721
Total assets	19,734,076	19,094,245
Deposits:
Noninterest-bearing demand	6,233,492	6,306,895
Interest-bearing demand and savings	8,270,416	7,529,972
Time deposits under $250,000	695,629	771,973
Time deposits of $250,000 or more	449,156	483,912
Total deposits	15,648,693	15,092,752
Federal funds purchased and repurchase agreements	1,788,567	1,818,062
Short-term debt	5,003	5,009
Long-term debt	85,320	86,070
Accrued expenses and taxes	149,027	161,245
Other liabilities	54,734	37,413
Total liabilities	17,731,344	17,200,551
SHAREHOLDERS' EQUITY
Common stock, $1.00 par value; 80,000,000 shares authorized; 55,056,730 shares issued; and 49,528,986 and 49,396,366 shares outstanding, respectively	55,057	55,057
Capital surplus	1,023,195	1,019,889
Retained earnings	1,083,280	1,033,990
Accumulated other comprehensive income (loss), net	55,295	(3,718)
Treasury stock, 5,527,744 and 5,660,364 shares, at cost, respectively	(214,095)	(211,524)
Total shareholders' equity	2,002,732	1,893,694
Total liabilities and shareholders' equity	$ 19,734,076	$ 19,094,245

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Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Held to Maturity, Fair value	$ 991,715	$ 691,379
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	49,528,986	49,396,366
Treasury stock, shares	5,527,744	5,660,364

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Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
INTEREST INCOME
Loans	$ 93,949	$ 71,396	$ 184,493	$ 135,628
Securities:
Taxable interest	18,852	19,163	38,209	37,971
Tax-exempt interest	13,845	10,607	26,580	20,522
Total securities income	32,697	29,770	64,789	58,493
Federal funds and resell agreements	642	151	1,149	202
Interest-bearing due from banks	436	434	1,327	1,286
Trading securities	173	133	225	228
Total interest income	127,897	101,884	251,983	195,837
INTEREST EXPENSE
Deposits	4,136	3,522	8,191	6,570
Federal funds and repurchase agreements	1,626	470	2,856	962
Other	925	532	1,834	587
Total interest expense	6,687	4,524	12,881	8,119
Net interest income	121,210	97,360	239,102	187,718
Provision for loan losses	7,000	5,000	12,000	8,000
Net interest income after provision for loan losses	114,210	92,360	227,102	179,718
NONINTEREST INCOME
Trust and securities processing	59,745	67,381	119,230	134,680
Trading and investment banking	5,638	5,568	10,268	11,690
Service charges on deposit accounts	22,420	21,625	43,881	43,166
Insurance fees and commissions	1,160	586	2,657	1,156
Brokerage fees	4,262	2,936	8,447	5,790
Bankcard fees	17,534	18,035	35,550	34,218
Gain on sales of securities available for sale, net	2,598	967	5,531	8,303
Equity earnings (loss) on alternative investments	978	(1,125)	597	(1,967)
Other	7,112	3,577	11,636	7,721
Total noninterest income	121,447	119,550	237,797	244,757
NONINTEREST EXPENSE
Salaries and employee benefits	108,897	99,585	216,047	198,122
Occupancy, net	11,139	10,312	22,111	20,322
Equipment	17,032	15,410	33,314	29,582
Supplies and services	4,719	4,603	9,668	8,928
Marketing and business development	6,313	6,530	10,754	11,148
Processing fees	11,464	12,654	22,926	25,437
Legal and consulting	4,937	5,917	9,736	10,295
Bankcard	5,369	4,953	11,184	9,721
Amortization of other intangible assets	3,145	2,569	6,371	5,324
Regulatory fees	3,692	2,873	7,121	5,629
Other	8,536	6,558	16,755	11,869
Total noninterest expense	185,243	171,964	365,987	336,377
Income before income taxes	50,414	39,946	98,912	88,098
Income tax expense	13,117	9,732	25,370	24,119
NET INCOME	$ 37,297	$ 30,214	$ 73,542	$ 63,979
PER SHARE DATA
Net income - basic	$ 0.76	$ 0.65	$ 1.51	$ 1.40
Net income - diluted	0.76	0.65	1.50	1.39
Dividends	$ 0.245	$ 0.235	$ 0.490	$ 0.470
Weighted average shares outstanding - basic	48,770,948	46,240,869	48,763,690	45,624,276
Weighted average shares outstanding - diluted	49,165,686	46,611,096	49,126,207	46,029,978

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Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net Income	$ 37,297	$ 30,214	$ 73,542	$ 63,979
Unrealized gains (losses) on securities:
Change in unrealized holding gains (losses), net	42,273	(45,553)	107,585	(12,877)
Less: Reclassification adjustment for gains included in net income	(2,598)	(967)	(5,531)	(8,303)
Change in unrealized gains (losses) on securities during the period	39,675	(46,520)	102,054	(21,180)
Change in unrealized losses on derivative hedges	(2,894)		(7,034)
Income tax (expense) benefit	(13,954)	17,569	(36,007)	8,033
Other comprehensive income (loss)	22,827	(28,951)	59,013	(13,147)
Comprehensive income	$ 60,124	$ 1,263	$ 132,555	$ 50,832

XML

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Capital Surplus	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Treasury Stock
Beginning Balance at Dec. 31, 2014	$ 1,643,758	$ 55,057	$ 894,602	$ 963,911	$ 11,006	$ (280,818)
Total comprehensive income	50,832			63,979	(13,147)
Dividends	(22,327)			(22,327)
Purchase of treasury stock	(5,379)					(5,379)
Issuance of equity awards	460		(5,509)			5,969
Recognition of equity-based compensation	5,779		5,779
Net tax benefit related to equity compensation plans	664		664
Sale of treasury stock	503		306			197
Exercise of stock options	3,029		1,488			1,541
Common stock issuance for acquisition	179,737		112,635			67,102
Ending Balance at Jun. 30, 2015	1,857,056	55,057	1,009,965	1,005,563	(2,141)	(211,388)
Beginning Balance at Dec. 31, 2015	1,893,694	55,057	1,019,889	1,033,990	(3,718)	(211,524)
Total comprehensive income	132,555			73,542	59,013
Dividends	(24,252)			(24,252)
Purchase of treasury stock	(13,581)					(13,581)
Issuance of equity awards	430		(4,457)			4,887
Recognition of equity-based compensation	5,200		5,200
Net tax benefit related to equity compensation plans	250		250
Sale of treasury stock	569		260			309
Exercise of stock options	7,867		2,053			5,814
Ending Balance at Jun. 30, 2016	$ 2,002,732	$ 55,057	$ 1,023,195	$ 1,083,280	$ 55,295	$ (214,095)

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Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Stockholders' Equity [Abstract]
Dividends, per share	$ 0.245	$ 0.235	$ 0.490	$ 0.470

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Consolidated Statements of Cash Flows $ in Thousands	6 Months Ended
	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)
Operating Activities
Net Income	$ 73,542	$ 63,979
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	12,000	8,000
Net accretion of premiums and discounts from acquisition	(935)
Depreciation and amortization	27,405	24,027
Deferred income tax expense (benefit)	2,665	(2,577)
Net increase in trading securities	(27,291)	(7,446)
Gains on sales of securities available for sale, net	(5,531)	(8,303)
(Gains) losses on sales of assets	(720)	5
Amortization of securities premiums, net of discount accretion	29,080	26,465
Originations of loans held for sale	(43,145)	(59,422)
Net gains on sales of loans held for sale	(871)	(827)
Proceeds from sales of loans held for sale	34,110	58,054
Equity based compensation	5,630	6,239
Changes in:
Accrued income	(2,523)	(1,927)
Accrued expenses and taxes	(11,902)	(13,179)
Other assets and liabilities, net	(9,282)	12,647
Net cash provided by operating activities	82,232	105,735
Investing Activities
Proceeds from maturities of securities held to maturity	22,539	26,663
Proceeds from sales of securities available for sale	598,740	705,238
Proceeds from maturities of securities available for sale	779,759	645,959
Purchases of securities held to maturity	(238,029)	(198,352)
Purchases of securities available for sale	(1,281,401)	(1,238,323)
Net increase in loans	(660,088)	(473,924)
Net (increase) decrease in fed funds sold and resell agreements	(22,656)	37,111
Net increase in interest bearing balances due from other financial institutions	52,488	19,200
Purchases of premises and equipment	(17,526)	(29,479)
Net cash activity from acquisitions		104,539
Proceeds from sales of premises and equipment	1,623	117
Increase in COLI/BOLI cash surrender value	(4,700)
Net cash used in investing activities	(769,251)	(401,251)
Financing Activities
Net increase in demand and savings deposits	667,041	239,367
Net decrease in time deposits	(110,349)	(303,635)
Net decrease in fed funds purchased and repurchase agreements	(29,495)	(250,697)
Net decrease in short-term debt		(112,133)
Repayment of long-term debt	(1,272)	(10,580)
Payment of contingent consideration on acquisitions	(3,031)	(18,702)
Cash dividends paid	(24,243)	(22,295)
Net tax benefit related to equity compensation plans	250	664
Proceeds from exercise of stock options and sales of treasury shares	8,436	3,532
Purchases of treasury stock	(13,581)	(5,379)
Net cash provided by (used in) financing activities	493,756	(479,858)
Decrease in cash and cash equivalents	(193,263)	(775,374)
Cash and cash equivalents at beginning of period	819,112	1,787,230
Cash and cash equivalents at end of period	625,849	1,011,856
Supplemental Disclosures:
Income taxes paid	19,295	25,089
Total interest paid	$ 13,199	7,360
Transactions related to bank acquisitions
Assets acquired		1,321,322
Liabilities assumed		$ 1,160,044

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Financial Statement Presentation

6 Months Ended

Jun. 30, 2016

Accounting Policies [Abstract]

Financial Statement Presentation

1. Financial Statement Presentation

The 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 relating to items that are 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 “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” within this Quarterly Report on Form 10-Q (the Form 10-Q) and in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 filed with the Securities and Exchange Commission (SEC) on February 25, 2016 (the Form 10-K).

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2016

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 Missouri, Kansas, Colorado, Illinois, Oklahoma, Texas, Arizona, Nebraska, Pennsylvania, South Dakota, Indiana, Utah, Minnesota, California, and Wisconsin. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) 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 provided in the Notes to Consolidated Financial Statements in the Form 10-K.

Cash and cash equivalents

Cash and cash equivalents include Cash and due from banks and amounts due from the Federal Reserve Bank. Cash on hand, cash items in the process of collection, and amounts due from correspondent banks are included in Cash and due from banks. Amounts due from the Federal Reserve Bank are interest-bearing for all periods presented and are included in the Interest-bearing due from banks line on the Company’s Consolidated Balance Sheets.

This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of June 30, 2016 and June 30, 2015 (in thousands):

	June 30,
	2016		2015
Due from the Federal Reserve Bank	$	270,117	$	521,685
Cash and due from banks		355,732		490,171
Cash and cash equivalents at end of period	$	625,849	$	1,011,856

Also included in the Interest-bearing due from banks line, but not considered cash and cash equivalents, are interest-bearing accounts held at other financial institutions, which totaled $109.5 million and $177.3 million at June 30, 2016 and June 30, 2015, respectively.

Per Share Data

Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted quarter-to-date net income per share includes the dilutive effect of 394,738 and 370,227 shares issuable upon the exercise of options granted by the Company and outstanding at June 30, 2016 and 2015, respectively. Diluted year-to-date net income per share includes the dilutive effect of 362,517 and 405,702 shares issuable upon the exercise of stock options granted by the Company and outstanding at June 30, 2016 and 2015, respectively.

Options issued under employee benefits plans to purchase 637,331 shares of common stock were outstanding at June 30, 2016, but were not included in the computation of quarter-to-date and year-to-date diluted EPS because the options were anti-dilutive. Options issued under employee benefits plans to purchase 495,366 shares of common stock were outstanding at June 30, 2015, but were not included in the computation of quarter-to-date and year-to-date diluted EPS because the options were anti-dilutive.

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New Accounting Pronouncements

6 Months Ended

Jun. 30, 2016

Accounting Changes and Error Corrections [Abstract]

New Accounting Pronouncements

3. New Accounting Pronouncements

Revenue Recognition In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, “Revenue from Contracts with Customers.” The issuance is part of a joint effort by the FASB and the International Accounting Standards Board (IASB) to enhance financial reporting by creating common revenue recognition guidance for U.S. GAAP and International Financial Reporting Standards (IFRS) and, thereby, improving the consistency of requirements, comparability of practices and usefulness of disclosures. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. In August 2015, the FASB issued ASU No. 2015-14, which deferred the effective date of ASU No. 2014-09 to annual reporting periods that begin after December 15, 2017. In March 2016, the FASB issued ASU No. 2016-08, which intends to improve the operability and understandability of the implementation guidance on principal versus agent considerations within ASU No. 2014-09. In April 2016, the FASB issued ASU No. 2016-10, which clarifies guidance related to identifying performance obligations and licensing implementation within ASU No. 2014-09. In May 2016, the FASB issued ASU Nos. 2016-11 and 2016-12, which further clarify guidance and provide practical expedients related to the adoption of ASU No. 2014-09. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is currently evaluating the effect that these standards will have on its Consolidated Financial Statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Equity-Based Compensation In June 2014, the FASB issued ASU No. 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target could be Achieved after the Requisite Service Period.” The amendment is intended to reduce diversity in practice by clarifying that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The amendments in this update were effective for interim and annual periods beginning after December 15, 2015. The adoption of this accounting pronouncement had no impact on the Company’s Consolidated Financial Statements.

Going Concern In August 2014, the FASB issued ASU No. 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” The amendment addresses management’s responsibility in regularly evaluating whether there is substantial doubt about a company’s ability to continue as a going concern. The amendments in this update are effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter, although early adoption is permitted. The adoption of this accounting pronouncement will not impact the Company’s Consolidated Financial Statements.

Derivatives and Hedging In November 2014, the FASB issued ASU No. 2014-16, “Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity.” The amendment is intended to address how current U.S. GAAP should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. The amendments in this update were effective for interim and annual periods beginning after December 15, 2015. The adoption of this accounting pronouncement had no impact on the Company’s Consolidated Financial Statements.

Consolidation In February 2015, the FASB issued ASU No. 2015-02, “Amendments to the Consolidation Analysis.” The amendment substantially changes the way reporting entities are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the new amendment. Specifically, the amendments modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, eliminate the presumption that a general partner should consolidate a limited partnership, and affect the consolidation analysis of reporting entities that are involved with VIEs. The amendments in this update were effective for interim and annual periods beginning after December 15, 2015. The standard permits the use of either the retrospective or cumulative effect transition method. The adoption of this accounting pronouncement had no impact on the Company’s Consolidated Financial Statements.

Financial Instruments In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendment is intended to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The amendments in this update are effective for interim and annual periods beginning after December 15, 2017. The standard requires the use of the cumulative effect transition method as of the beginning of the year of adoption. Except for certain provisions, early adoption is not permitted. The Company is currently evaluating the impact this will have on its Consolidated Financial Statements.

Leases In February 2016, the FASB issued ASU No. 2016-02, “Leases.” The amendment changes the accounting treatment of leases, in that lessees will recognize most leases on-balance sheet. This will increase reported assets and liabilities, as lessees will be required to recognize a right-of-use asset along with a lease liability, measured on a discounted basis. Lessees are allowed to account for short-term leases (those with a term of twelve months or less) off-balance sheet. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The standard requires the use of the modified retrospective transition method. Early adoption is permitted. The Company is currently evaluating the impact this will have on its Consolidated Financial Statements.

Extinguishments of Liabilities In March 2016, the FASB issued ASU No. 2016-04, “Recognition of Breakage for Certain Prepaid Stored-Value Products.” The amendment is intended to reduce the diversity in practice related to the recognition of breakage. Breakage refers to the portion of a prepaid stored-value product, such as a gift card, that goes unused wholly or partially for an indefinite period of time. This amendment requires that breakage be accounted for consistent with the breakage guidance within ASU No. 2014-09, “Revenue from Contracts with Customers.” The amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The standard permits the use of either the modified retrospective or full retrospective transition method. Early adoption is permitted. The Company is currently evaluating the effect that ASU No. 2016-04 will have on its Consolidated Financial Statements. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. The Company will adopt ASU No. 2016-04 in conjunction with its adoption of ASU No. 2014-09.

Derivatives and Hedging In March 2016, the FASB issued ASU No. 2016-05, “Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.” The amendment is intended to clarify that the novation of a derivative contract that has been designated to be in a hedging relationship under Accounting Standards Codification (ASC) Topic 815 does not, in and of itself, represent a termination event for the derivative and does not require dedesignation of the hedging relationship. The amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendment permits the use of either a prospective or modified retrospective transition method. Early adoption is permitted. The adoption of this accounting pronouncement will have no impact on the Company’s Consolidated Financial Statements.

Equity-Based Compensation In March 2016, the FASB issued ASU No. 2016-09, “Improvements to Employee Share-Based Payment Accounting.” The amendment is part of the FASB’s simplification initiative and is intended to simplify the accounting around share-based payment award transactions. The amendments include changing the recording of excess tax benefits from being recognized as a part of surplus capital to being charged directly to the income statement, changing the classification of excess tax benefits within the statement of cash flows, and allowing companies to account for forfeitures on an actual basis, as well as tax withholding changes. The amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendment requires different transition methods for various components of the standard. Early adoption is permitted. The Company is currently evaluating the impact this will have on its Consolidated Financial Statements.

Credit Losses In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” This update replaces the current incurred loss methodology for recognizing credit losses with a current expected credit loss model, which requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This amendment broadens the information that an entity must consider in developing its expected credit loss estimates. Additionally, the update amends the accounting for credit losses for available-for-sale debt securities and purchased financial assets with a more-than-insignificant amount of credit deterioration since origination. This update requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of a company’s loan portfolio. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption in fiscal years beginning after December 15, 2018 is permitted. The amendment requires the use of the modified retrospective approach for adoption. The Company is currently evaluating the impact this will have on its Consolidated Financial Statements.

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Loans and Allowance for Loan Losses

6 Months Ended

Jun. 30, 2016

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. Authority levels are established for the extension of credit to ensure consistency throughout the Company. It is necessary that policies, processes and practices implemented to control the risks of individual credit transactions and portfolio segments are sound and adhered to. 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.

Asset-based loans are offered primarily in the form of revolving lines of credit to commercial borrowers that do not generally qualify for traditional bank financing. Asset-based loans are underwritten based primarily upon the value of the collateral pledged to secure the loan, rather than on the borrower’s general financial condition as traditionally reflected by cash flow, balance sheet strength, operating results, and credit bureau ratings. The Company utilizes pre-loan due diligence techniques, monitoring disciplines, and loan management practices common within the asset-based lending industry to underwrite loans to these borrowers.

Factoring loans provide working capital through the purchase and/or financing of accounts receivable to borrowers in the transportation industry and to commercial borrowers that do not generally qualify for traditional bank financing.

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 that 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, 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, 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.

Credit risk is a potential loss resulting from nonpayment of either the primary or secondary exposure. Credit risk is mitigated with formal risk management practices and a thorough initial credit-granting process including consistent underwriting standards and approval process. Control factors or techniques to minimize credit risk include knowing the client, understanding total exposure, analyzing the client and debtor’s financial capacity, and monitoring the client’s activities. Credit risk and portions of the portfolio risk are managed through concentration considerations, average risk ratings, and other aggregate characteristics.

The loan portfolio is comprised of loans originated by the Company and loans purchased in connection with the Company’s acquisition of Marquette Financial Companies (Marquette) on May 31, 2015 (the Acquisition Date). The purchased loans were recorded at estimated fair value at the Acquisition Date with no carryover of the related allowance. The purchased loans were segregated between those considered to be performing, non-purchased credit impaired loans (Non-PCI), and those with evidence of credit deterioration, purchased credit impaired loans (PCI). Purchased loans are considered impaired if there is evidence of credit deterioration and if it is probable, at acquisition, that all contractually required payments will not be collected.

At the Acquisition Date, gross loans purchased from the Marquette acquisition had a fair value of $980.4 million split between Non-PCI loans totaling $972.6 million and PCI loans totaling $7.8 million of loans. The gross contractually required principal and interest payments receivable for the Non-PCI loans and PCI loans totaled $983.9 million and $9.3 million, respectively.

The fair value estimates for purchased loans are based on expected prepayments and the amount and timing of discounted expected principal, interest and other cash flows. Credit discounts representing the principal losses expected over the life of the loan are also a component of the initial fair value. In determining the Acquisition Date fair value of PCI loans, and in subsequent accounting, the Company generally aggregated purchased commercial, real estate, and consumer loans into pools of loans with common risk characteristics.

The difference between the fair value of Non-PCI loans and contractual amounts due at the Acquisition Date is accreted into income over the estimated life of the loans. Contractual amounts due represent the total undiscounted amount of all uncollected principal and interest payments.

Loans accounted for under ASC Topic 310-30

The excess of PCI loans’ contractual amounts due over the amount of undiscounted cash flows expected to be collected is referred to as the non-accretable difference. The non-accretable difference, which is neither accreted into income nor recorded on the consolidated balance sheet, reflects estimated future credit losses and uncollectible contractual interest expected to be incurred over the life of the PCI loans. The excess cash flows expected to be collected over the carrying amount of PCI loans is referred to as the accretable yield. This amount is accreted into interest income over the remaining life of the purchased loans or pools using the level yield method. The accretable yield is affected by changes in interest rate indices for variable rate loans, changes in prepayment speed assumptions, and changes in expected principal and interest payments over the estimated lives of the PCI loans.

Each quarter the Company evaluates the remaining contractual amounts due and estimates cash flows expected to be collected over the life of the PCI loans. Contractual amounts due may increase or decrease for a variety of reasons, for example, when the contractual terms of the loan agreement are modified, when interest rates on variable rate loans change, or when principal and/or interest payments are received. Cash flows expected to be collected on PCI loans are estimated by incorporating several key assumptions similar to the initial estimate of fair value. These key assumptions include probability of default, loss given default, and the amount of actual prepayments after the Acquisition Date. Prepayments affect the estimated lives of loans and could change the amount of interest income, and possibly principal, expected to be collected. In re-forecasting future estimated cash flows, credit loss expectations are adjusted as necessary. The adjustments are based, in part, on actual loss severities recognized for each loan type, as well as changes in the probability of default. For periods in which estimated cash flows are not reforecasted, the prior reporting period’s estimated cash flows are adjusted to reflect the actual cash received and credit events that transpired during the current reporting period.

Increases in expected cash flows of PCI loans subsequent to the Acquisition Date are recognized prospectively through adjustments of the yield on the loans or pools over their remaining lives, while decreases in expected cash flows are recognized as impairment through a provision for loan losses and an increase in the allowance.

The PCI loans are accounted for in accordance with ASC Topic 310-30, Loans and Debt Securities Purchased with Deteriorated Credit Quality. At June 30, 2016, the net recorded carrying amount of loans accounted for under ASC 310-30 was $2.2 million and the contractual amount due was $3.0 million.

Below is the composition of the net book value for the PCI loans accounted for under ASC 310-30 at June 30, 2016 (in thousands):

	June 30, 2016
PCI Loans:
Contractual cash flows	$	2,970
Non-accretable difference		(647	)
Accretable yield		(101	)
Loans accounted for under ASC 310-30	$	2,222

Loan Aging Analysis

This table provides a summary of loan classes and an aging of past due loans at June 30, 2016 and December 31, 2015 (in thousands):

	June 30, 2016
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non- Accrual Loans		Total Past Due		PCI Loans		Current		Total Loans
Loans
Commercial:
Commercial	$	8,753	$	793	$	41,828	$	51,374	$	—	$	4,392,763	$	4,444,137
Asset-based		—		—		—		—		—		223,339		223,339
Factoring		—		—		—		—		—		101,327		101,327
Commercial – credit card		424		255		19		698		—		144,661		145,359
Real estate:
Real estate – construction		478		—		311		789		—		530,987		531,776
Real estate – commercial		4,750		—		9,375		14,125		992		2,970,077		2,985,194
Real estate – residential		3,143		66		537		3,746		—		474,892		478,638
Real estate – HELOC		1,089		—		3,389		4,478		—		737,225		741,703
Consumer:
Consumer – credit card		2,079		1,961		313		4,353		—		266,000		270,353
Consumer – other		8,013		1,625		2,651		12,289		1,230		111,344		124,863
Leases		—		—		—		—		—		36,577		36,577
Total loans	$	28,729	$	4,700	$	58,423	$	91,852	$	2,222	$	9,989,192	$	10,083,266

	June 30, 2016
	30-89 Days Past Due		Greater than 90 Days Past Due		Current		Total Loans
PCI Loans
Commercial:
Commercial	$	—	$	—	$	—	$	—
Asset-based		—		—		—		—
Factoring		—		—		—		—
Commercial – credit card		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—
Real estate – commercial		—		992		—		992
Real estate – residential		—		—		—		—
Real estate – HELOC		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—
Consumer – other		51		27		1,152		1,230
Leases		—		—				—
Total PCI loans	$	51	$	1,019	$	1,152	$	2,222

	December 31, 2015
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non- Accrual Loans		Total Past Due		PCI Loans		Current		Total Loans
Loans
Commercial:
Commercial	$	5,821	$	2,823	$	43,841	$	52,485	$	—	$	4,153,251	$	4,205,736
Asset-based		—		—		—		—		—		219,244		219,244
Factoring		—		—		—		—		—		90,686		90,686
Commercial – credit card		614		24		13		651		—		124,710		125,361
Real estate:
Real estate – construction		1,828		548		331		2,707		—		413,861		416,568
Real estate – commercial		2,125		1,630		9,578		13,333		1,055		2,648,384		2,662,772
Real estate – residential		612		35		800		1,447		—		490,780		492,227
Real estate – HELOC		129		—		3,524		3,653		—		726,310		729,963
Consumer:
Consumer – credit card		2,256		2,089		468		4,813		—		286,757		291,570
Consumer – other		5,917		175		2,597		8,689		2,001		144,087		154,777
Leases		—		—		—		—		—		41,857		41,857
Total loans	$	19,302	$	7,324	$	61,152	$	87,778	$	3,056	$	9,339,927	$	9,430,761

	December 31, 2015
	30-89 Days Past Due		Greater than 90 Days Past Due		Current		Total Loans
PCI Loans
Commercial:
Commercial	$	—	$	—	$	—	$	—
Asset-based		—		—		—		—
Factoring		—		—		—		—
Commercial – credit card		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—
Real estate – commercial		—		1,055		—		1,055
Real estate – residential		—		—		—		—
Real estate – HELOC		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—
Consumer – other		58		105		1,838		2,001
Leases		—		—		—		—
Total PCI loans	$	58	$	1,160	$	1,838	$	3,056

The Company sold residential real estate loans with proceeds of $34.1 million and $58.1 million in the secondary market without recourse during the six months ended June 30, 2016 and June 30, 2015, respectively.

The Company has ceased the recognition of interest on loans with a carrying value of $58.4 million and $61.2 million at June 30, 2016 and December 31, 2015, respectively. Restructured loans totaled $42.6 million and $36.6 million at June 30, 2016 and December 31, 2015, respectively. Loans 90 days past due and still accruing interest amounted to $4.7 million and $7.3 million at June 30, 2016 and December 31, 2015, respectively. There was an insignificant amount of interest recognized on impaired loans during 2016 and 2015.

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. 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 current sound 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 Company 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 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 excluded from ASC 310-30 at June 30, 2016 and December 31, 2015 (in thousands):

Credit Exposure

Credit Risk Profile by Risk Rating

Originated and Non-PCI Loans

	Commercial				Asset-based				Factoring
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Non-watch list	$	4,058,989	$	3,880,109	$	195,329	$	198,903	$	100,201	$	90,449
Watch		161,686		105,539		—		—		—		—
Special Mention		44,302		29,397		22,409		18,163		341		237
Substandard		179,160		190,691		5,601		2,178		785		—
Total	$	4,444,137	$	4,205,736	$	223,339	$	219,244	$	101,327	$	90,686

	Real estate – construction				Real estate – commercial
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Non-watch list	$	526,469	$	415,258	$	2,884,897	$	2,561,401
Watch		4,897		370		44,388		51,774
Special Mention		—		—		11,526		22,544
Substandard		410		940		43,391		25,998
Total	$	531,776	$	416,568	$	2,984,202	$	2,661,717

Credit Exposure

Credit Risk Profile Based on Payment Activity

Originated and Non-PCI Loans

	Commercial – credit card				Real estate – residential				Real estate – HELOC
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Performing	$	145,340	$	125,348	$	478,101	$	491,427	$	738,314	$	726,439
Non-performing		19		13		537		800		3,389		3,524
Total	$	145,359	$	125,361	$	478,638	$	492,227	$	741,703	$	729,963
	Consumer – credit card				Consumer – other				Leases
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Performing	$	270,040	$	291,102	$	120,982	$	152,180	$	36,577	$	41,857
Non-performing		313		468		2,651		2,597		—		—
Total	$	270,353	$	291,570	$	123,633	$	154,777	$	36,577	$	41,857

This table provides an analysis of the credit risk profile of each loan class accounted for under ASC 310-30 at June 30, 2016 and December 31, 2015 (in thousands):

Credit Exposure

Credit Risk Profile by Risk Rating

PCI Loans

	Real estate – commercial
	June 30, 2016		December 31, 2015
Non-watch list	$	—	$	—
Watch		—		—
Special Mention		—		—
Substandard		992		1,055
Total	$	992	$	1,055

Credit Exposure

Credit Risk Profile Based on Payment Activity

PCI Loans

	Consumer – other
	June 30, 2016		December 31, 2015
Performing	$	1,230	$	2,001
Non-performing		—		—
Total	$	1,230	$	2,001

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.

Generally, the unsecured portion of a commercial or commercial real estate loan is charged off when, after analyzing the borrower’s financial condition, it is determined that the borrower is incapable of servicing the debt, little or no prospect for near term improvement exists, and no realistic and significant strengthening action is pending. For collateral dependent commercial or commercial real estate loans, an analysis is completed regarding the Company’s collateral position to determine if the amounts due from the borrower are in excess of the calculated current fair value of the collateral. Specific allocations of the allowance for loan losses are made for any collateral deficiency. If a collateral deficiency is ultimately deemed to be uncollectible, the amount is charged off. Revolving commercial loans (such as commercial credit cards) which are past due 90 cumulative days are classified as a loss and charged off.

Generally, a consumer loan, or a portion thereof, is charged off in accordance with regulatory guidelines which provide that such loans be charged off when the Company becomes aware of the loss, such as from a triggering event that may include, but is not limited to, new information about a borrower’s intent and ability to repay the loan, bankruptcy, fraud, or death. However, the charge-off timeframe should not exceed the specified delinquency time frames, which state that closed-end retail loans (such as real estate mortgages, home equity loans and consumer installment loans) that become past due 120 cumulative days and open-end retail loans (such as home equity lines of credit and consumer credit cards) that become past due 180 cumulative days are classified as a loss and charged off.

ALLOWANCE FOR LOAN LOSSES AND RECORDED INVESTMENT IN LOANS

This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2016 (in thousands):

	Three Months Ended June 30, 2016
	Commercial			Real estate			Consumer			Leases			Total
Allowance for loan losses:
Beginning balance	$	61,308		$	9,909		$	9,060		$	121		$	80,398
Charge-offs		(800	)		(1,351	)		(2,101	)		—			(4,252	)
Recoveries		859			187			474			—			1,520
Provision		3,194			1,938			1,886			(18	)		7,000
Ending balance	$	64,561		$	10,683		$	9,319		$	103		$	84,666
	Six Months Ended June 30, 2016
	Commercial			Real estate			Consumer			Leases			Total
Allowance for loan losses:
Beginning balance	$	63,847		$	8,220		$	8,949		$	127		$	81,143
Charge-offs		(5,875	)		(2,796	)		(4,616	)		—			(13,287	)
Recoveries		3,348			331			1,131			—			4,810
Provision		3,241			4,928			3,855			(24	)		12,000
Ending balance	$	64,561		$	10,683		$	9,319		$	103		$	84,666
Ending balance: individually evaluated for impairment	$	4,714		$	26		$	—		$	—		$	4,740
Ending balance: collectively evaluated for impairment		59,847			10,657			9,319			103			79,926
Loans:
Ending balance: loans	$	4,914,162		$	4,737,311		$	395,216		$	36,577		$	10,083,266
Ending balance: individually evaluated for impairment		58,270			6,338			2,578			—			67,186
Ending balance: collectively evaluated for impairment		4,855,892			4,729,981			391,408			36,577			10,013,858
Ending balance: PCI Loans		—			992			1,230			—			2,222

This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2015 (in thousands):

	Three Months Ended June 30, 2015
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	55,659		$	11,912		$	9,780		$	128	$	77,479
Charge-offs		(3,088	)		(68	)		(2,446	)		—		(5,602	)
Recoveries		89			77			678			—		844
Provision		6,718			(3,029	)		1,276			35		5,000
Ending balance	$	59,378		$	8,892		$	9,288		$	163	$	77,721
	Six Months Ended June 30, 2015
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	55,349		$	10,725		$	9,921		$	145	$	76,140
Charge-offs		(3,500	)		(100	)		(5,150	)		—		(8,750	)
Recoveries		899			92			1,340			—		2,331
Provision		6,630			(1,825	)		3,177			18		8,000
Ending balance	$	59,378		$	8,892		$	9,288		$	163	$	77,721
Ending balance: individually evaluated for impairment	$	1,266		$	295		$	—		$	—	$	1,561
Ending balance: collectively evaluated for impairment		58,112			8,597			9,288			163		76,160
Loans:
Ending balance: loans	$	4,579,611		$	3,915,506		$	380,938		$	40,073	$	8,916,128
Ending balance: individually evaluated for impairment		32,818			9,113			1,240			—		43,171
Ending balance: collectively evaluated for impairment		4,544,303			3,903,880			377,009			40,073		8,865,265
Ending balance: PCI Loans		2,490			2,513			2,689			—		7,692

Impaired Loans

This table provides an analysis of impaired loans by class at June 30, 2016 and December 31, 2015 (in thousands):

	As of June 30, 2016
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	64,008	$	37,994	$	20,276	$	58,270	$	4,714	$	64,586
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		962		311		115		426		26		437
Real estate – commercial		7,839		5,630		—		5,630		—		5,512
Real estate – residential		364		282		—		282		—		707
Real estate – HELOC		—		—		—		—		—		132
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		2,578		2,578		—		2,578		—		2,582
Leases		—		—		—		—		—		—
Total	$	75,751	$	46,795	$	20,391	$	67,186	$	4,740	$	73,956

	As of December 31, 2015
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	72,739	$	40,648	$	27,356	$	68,004	$	5,668	$	41,394
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		782		331		118		449		42		802
Real estate – commercial		7,117		4,891		1,275		6,166		154		7,768
Real estate – residential		1,054		939		—		939		—		1,433
Real estate – HELOC		214		193		—		193		—		162
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		2,574		2,574		—		2,574		—		1,795
Leases		—		—		—		—		—		—
Total	$	84,480	$	49,576	$	28,749	$	78,325	$	5,864	$	53,354

Troubled Debt Restructurings

A loan modification is considered a troubled debt restructuring (TDR) when a concession has 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.

Purchased loans restructured after acquisition are not considered or reported as troubled debt restructurings if the loans evidenced credit deterioration as of the Acquisition Date and are accounted for in pools. For the three and six months ended June 30, 2016, no purchased loans were modified as troubled debt restructurings after the Acquisition Date.

The Company had $18 thousand and $293 thousand in commitments to lend to borrowers with loan modifications classified as TDRs as of June 30, 2016 and June 30, 2015, respectively. The Company monitors loan payments on an on-going basis to determine if a loan is considered to have a payment default. Determination of payment default involves analyzing the economic conditions that exist for each customer and their ability to generate positive cash flows during the loan term. During the six month period ended June 30, 2015, the Company had one commercial real estate loan classified as a TDR with a payment default totaling $178 thousand. A specific valuation allowance for the full amount of this loan had previously been established within the Company’s allowance for loan losses, and this loan was charged off against the allowance for loan losses during that period.

This table provides a summary of loans restructured by class during the three and six months ended June 30, 2016 (in thousands):

	Three Months Ended June 30, 2016						Six Months Ended June 30, 2016
	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		—	$	—	$	—		2	$	12,056	$	12,056
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—		—		—
Real estate – commercial		—		—		—		—		—		—
Real estate – residential		—		—		—		—		—		—
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		—		—		—		—		—		—
Leases		—		—		—		—		—		—
Total		—	$	—	$	—		2	$	12,056	$	12,056

This table provides a summary of loans restructured by class during the three and six months ended June 30, 2015 (in thousands):

	Three Months Ended June 30, 2015						Six Months Ended June 30, 2015
	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		14	$	19,463	$	19,463		14	$	19,463	$	19,463
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—		—		—
Real estate – commercial		—		—		—		—		—		—
Real estate – residential		1		121		121		1		121		121
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		—		—		—		—		—		—
Leases		—		—		—		—		—		—
Total		15	$	19,584	$	19,584		15	$	19,584	$	19,584

XML

Securities

6 Months Ended

Jun. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Securities

5. Securities

Securities Available for Sale

This table provides detailed information about securities available for sale at June 30, 2016 and December 31, 2015 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
June 30, 2016
U.S. Treasury	$	362,766	$	576	$	(5	)	$	363,337
U.S. Agencies		421,149		507		(31	)		421,625
Mortgage-backed		3,553,661		53,444		(6,930	)		3,600,175
State and political subdivisions		2,257,535		48,687		(243	)		2,305,979
Corporates		80,044		85		(66	)		80,063
Total	$	6,675,155	$	103,299	$	(7,275	)	$	6,771,179
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
December 31, 2015
U.S. Treasury	$	350,354	$	1	$	(576	)	$	349,779
U.S. Agencies		667,414		7		(1,032	)		666,389
Mortgage-backed		3,598,115		12,420		(38,089	)		3,572,446
State and political subdivisions		2,116,543		23,965		(2,095	)		2,138,413
Corporates		80,585		—		(663	)		79,922
Total	$	6,813,011	$	36,393	$	(42,455	)	$	6,806,949

The following table presents contractual maturity information for securities available for sale at June 30, 2016 (in thousands):

	Amortized		Fair
	Cost		Value
Due in 1 year or less	$	931,783	$	932,836
Due after 1 year through 5 years		1,118,929		1,136,979
Due after 5 years through 10 years		861,965		887,760
Due after 10 years		208,817		213,429
Total		3,121,494		3,171,004
Mortgage-backed securities		3,553,661		3,600,175
Total securities available for sale	$	6,675,155	$	6,771,179

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 six months ended June 30, 2016, proceeds from the sales of securities available for sale were $598.7 million compared to $705.2 million for the same period in 2015. Securities transactions resulted in gross realized gains of $5.5 million and $8.4 million for the six months ended June 30, 2016 and 2015, respectively. The gross realized losses for the six months ended June 30, 2015 were $48 thousand.

Securities available for sale with a market value of $5.5 billion at June 30, 2016 and $5.9 billion at December 31, 2015 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 $1.5 billion at June 30, 2016 and $1.6 billion at December 31, 2015 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 June 30, 2016 and December 31, 2015 (in thousands):

June 30, 2016	Less than 12 months					12 months or more					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Description of Securities
U.S. Treasury	$	5,025	$	(5	)	$	—	$	—		$	5,025	$	(5	)
U.S. Agencies		45,635		(24	)		3,036		(7	)		48,671		(31	)
Mortgage-backed		204,221		(744	)		312,994		(6,186	)		517,215		(6,930	)
State and political subdivisions		131,455		(188	)		10,155		(55	)		141,610		(243	)
Corporates		8,748		(2	)		39,069		(64	)		47,817		(66	)
Total temporarily-impaired debt securities available for sale	$	395,084	$	(963	)	$	365,254	$	(6,312	)	$	760,338	$	(7,275	)

December 31, 2015	Less than 12 months					12 months or more					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Description of Securities
U.S. Treasury	$	344,556	$	(576	)	$	—	$	—		$	344,556	$	(576	)
U.S. Agencies		615,993		(1,032	)		—		—			615,993		(1,032	)
Mortgage-backed		2,056,316		(21,013	)		426,959		(17,076	)		2,483,275		(38,089	)
State and political subdivisions		479,197		(1,316	)		60,324		(779	)		539,521		(2,095	)
Corporates		29,126		(183	)		50,796		(480	)		79,922		(663	)
Total temporarily-impaired debt securities available for sale	$	3,525,188	$	(24,120	)	$	538,079	$	(18,335	)	$	4,063,267	$	(42,455	)

The unrealized losses in the Company’s investments in U.S. treasury obligations, U.S. government agencies, Government Sponsored Entity (GSE) 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 amortized cost. The Company expects to recover its cost basis in the securities and does not consider these investments to be other-than-temporarily impaired at June 30, 2016.

Securities Held to Maturity

The table below provides detailed information for securities held to maturity at June 30, 2016 and December 31, 2015 (in thousands):

			Net
	Amortized		Unrealized		Fair
	Cost		Gains		Value
June 30, 2016
State and political subdivisions	$	880,600	$	111,115	$	991,715
December 31, 2015
State and political subdivisions	$	667,106	$	24,273	$	691,379

The following table presents contractual maturity information for securities held to maturity at June 30, 2016 (in thousands):

	Amortized		Fair
	Cost		Value
Due in 1 year or less	$	16,268	$	18,321
Due after 1 year through 5 years		76,310		85,939
Due after 5 years through 10 years		481,148		541,859
Due after 10 years		306,874		345,596
Total securities held to maturity	$	880,600	$	991,715

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 six months ended June 30, 2016 or 2015.

Trading Securities

The net unrealized gains on trading securities at June 30, 2016 and June 30, 2015 were $93 thousand and $156 thousand, respectively, and were included in trading and investment banking income on the Consolidated Statements of Income.

Other Securities

The table below provides detailed information for Federal Reserve Bank (FRB) stock and Federal Home Loan Bank (FHLB) stock and other securities at June 30, 2016 and December 31, 2015 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
June 30, 2016
FRB and FHLB stock	$	33,667	$	—	$	—		$	33,667
Other securities – marketable		4		7,951		—			7,955
Other securities – non-marketable		23,974		730		(26	)		24,678
Total Other securities	$	57,645	$	8,681	$	(26	)	$	66,300
December 31, 2015
FRB and FHLB stock	$	33,215	$	—	$	—		$	33,215
Other securities – marketable		5		7,159		—			7,164
Other securities – non-marketable		23,855		964		—			24,819
Total Other securities	$	57,075	$	8,123	$	—		$	65,198

Investment in FRB stock is based on the capital structure of the investing bank, and investment in FHLB stock is mainly tied to the level of borrowings from the FHLB. These holdings are carried at cost. Other marketable and non-marketable securities include Prairie Capital Management (PCM) 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 $8.0 million at June 30, 2016 and $7.2 million at December 31, 2015. The fair value of other non-marketable securities includes alternative investment securities of $1.9 million at June 30, 2016 and $2.0 million at December 31, 2015. 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

6 Months Ended

Jun. 30, 2016

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 June 30, 2016 and December 31, 2015 by reportable segment are as follows (in thousands):

	Bank		Institutional Investment Management		Asset Servicing		Total
Balances as of January 1, 2016	$	161,341	$	47,529	$	19,476	$	228,346
Acquisition of Marquette		50		—		—		50
Balances as of June 30, 2016	$	161,391	$	47,529	$	19,476	$	228,396
Balances as of January 1, 2015	$	142,753	$	47,529	$	19,476	$	209,758
Acquisition of Marquette		18,588		—		—		18,588
Balances as of December 31, 2015	$	161,341	$	47,529	$	19,476	$	228,346

The following table lists the finite-lived intangible assets that continue to be subject to amortization as of June 30, 2016 and December 31, 2015 (in thousands):

	As of June 30, 2016
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	47,527	$	37,371	$	10,156
Customer relationships		107,460		77,933		29,527
Other intangible assets		4,198		3,470		728
Total intangible assets	$	159,185	$	118,774	$	40,411
	As of December 31, 2015
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	36,497	$	33,613	$	2,884
Core deposit intangible-Marquette acquisition		11,030		1,838		9,192
Customer relationships		104,560		73,496		31,064
Customer relationship-Marquette acquisition		2,900		338		2,562
Other intangible assets		3,247		2,841		406
Other intangible assets-Marquette acquisition		951		277		674
Total intangible assets	$	159,185	$	112,403	$	46,782

The following table has the aggregate amortization expense recognized in each period (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Aggregate amortization expense	$	3,145	$	2,569	$	6,371	$	5,324

The following table lists estimated amortization expense of intangible assets in future periods (in thousands):

For the six months ending December 31, 2016	$	5,920
For the year ending December 31, 2017		10,180
For the year ending December 31, 2018		7,202
For the year ending December 31, 2019		5,822
For the year ending December 31, 2020		4,487
For the year ending December 31, 2021		3,101

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Securities Sold Under Agreements to Repurchase

6 Months Ended

Jun. 30, 2016

Banking and Thrift [Abstract]

Securities Sold Under Agreements to Repurchase

7. Securities Sold Under Agreements to Repurchase

The Company utilizes repurchase agreements to facilitate the needs of customers and to facilitate secured short-term funding needs. Repurchase agreements are stated at the amount of cash received in connection with the transaction. The Company monitors collateral levels on a continuous basis and may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with the Company’s safekeeping agents.

The table below presents the remaining contractual maturities of repurchase agreements outstanding at June 30, 2016, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands).

	As of June 30, 2016
	Remaining Contractual Maturities of the Agreements
	Overnight & Continuous		Over 90 Days		Total
Repurchase agreements, secured by:
U.S. Treasury	$	296,222	$	—	$	296,222
U.S. Agencies		1,241,328		3,100		1,244,428
Total repurchase agreements	$	1,537,550	$	3,100	$	1,540,650

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Business Segment Reporting

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Business Segment Reporting

8. Business Segment Reporting

The Company has strategically aligned its operations into the following three reportable segments (collectively, the Business Segments): Bank, Institutional Investment Management, and Asset Servicing. Senior executive officers regularly evaluate business segment financial results produced by the Company’s internal management reporting system in deciding how to allocate resources and assess performance for individual Business Segments. Previously, the Company had the following four Business Segments: Bank, Institutional Investment Management, Asset Servicing, and Payment Solutions. In the first quarter of 2016, the Company merged the Payments Solutions segment into the Bank segment to better reflect how the core businesses, products and services are being evaluated by management currently. The Company’s Payment Solutions leadership structure and financial performance assessments are now included in the Bank segment, and accordingly, the reportable segments were realigned to reflect these changes. For comparability purposes, amounts in all periods are based on methodologies in effect at March 31, 2016. 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, consumer and commercial credit and debit card, prepaid debit card solutions, healthcare services, institutional cash management, merchant bankcard, wealth management, brokerage, insurance, capital markets, investment banking, corporate trust, and correspondent banking.

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 June 30, 2016
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	118,613	$	—	$	2,597	$	121,210
Provision for loan losses		7,000		—		—		7,000
Noninterest income		80,044		19,127		22,276		121,447
Noninterest expense		145,736		18,858		20,649		185,243
Income before taxes		45,921		269		4,224		50,414
Income tax expense		11,939		77		1,101		13,117
Net income	$	33,982	$	192	$	3,123	$	37,297
Average assets	$	18,170,000	$	61,000	$	1,205,000	$	19,436,000
	Three Months Ended June 30, 2015
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	96,403	$	—	$	957	$	97,360
Provision for loan losses		5,000		—		—		5,000
Noninterest income		70,840		25,685		23,025		119,550
Noninterest expense		133,617		18,302		20,045		171,964
Income before taxes		28,626		7,383		3,937		39,946
Income tax expense		7,017		1,747		968		9,732
Net income	$	21,609	$	5,636	$	2,969	$	30,214
Average assets	$	16,384,000	$	71,000	$	958,000	$	17,413,000
	Six Months Ended June 30, 2016
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	233,885	$	—	$	5,217	$	239,102
Provision for loan losses		12,000		—		—		12,000
Noninterest income		155,483		37,542		44,772		237,797
Noninterest expense		289,104		36,088		40,795		365,987
Income before taxes		88,264		1,454		9,194		98,912
Income tax expense		22,643		367		2,360		25,370
Net income	$	65,621	$	1,087	$	6,834	$	73,542
Average assets	$	18,027,000	$	62,000	$	1,296,000	$	19,385,000
	Six Months Ended June 30, 2015
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	185,764	$	—	$	1,954	$	187,718
Provision for loan losses		8,000		—		—		8,000
Noninterest income		145,529		52,769		46,459		244,757
Noninterest expense		258,796		36,262		41,319		336,377
Income before taxes		64,497		16,507		7,094		88,098
Income tax expense		17,732		4,497		1,890		24,119
Net income	$	46,765	$	12,010	$	5,204	$	63,979
Average assets	$	16,101,000	$	73,000	$	950,000	$	17,124,000

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Acquisition

6 Months Ended

Jun. 30, 2016

Business Combinations [Abstract]

Acquisition

9. Acquisition

On May 31, 2015, the Company acquired 100% of the outstanding common shares of Marquette Financial Companies. Marquette was a privately held financial services company with a portfolio of businesses that operated thirteen branches in Arizona and Texas, two national commercial specialty-lending businesses focused on asset-based lending and accounts receivable factoring, and an asset-management firm. As a result of the acquisition, the Company increased its presence in Arizona and Texas and supplemented the Company’s commercial-banking services with factoring and asset-based lending businesses. As of the close of trading on the Acquisition Date, the beneficial owners of Marquette received 9.2295 shares of the Company’s common stock for each share of Marquette common stock owned at that date (approximately 3.47 million shares total). The market value of the shares of the Company’s common stock issued at the effective time of the merger was approximately $179.7 million, based on the Company’s closing stock price of $51.79 on May 29, 2015. The transaction was accounted for using the purchase method of accounting in accordance with FASB ASC Topic 805, Business Combinations. Accordingly, the purchase price was allocated based on the estimated fair market values of the assets and liabilities acquired.

The following table summarizes the net assets acquired (at fair value) and consideration transferred for Marquette (in thousands, except for per share data):

	Fair Value May 31, 2015
Assets
Loans	$	980,404
Investment securities		177,694
Cash and due from banks		95,351
Premises and equipment, net		11,508
Identifiable intangible assets		14,881
Other assets		32,336
Total assets acquired		1,312,174
Liabilities
Noninterest-bearing deposits		226,161
Interest-bearing deposits		708,675
Short-term debt		112,133
Long-term debt		89,971
Other liabilities		14,135
Total liabilities assumed		1,151,075
Net identifiable assets acquired		161,099
Goodwill acquired		18,638
Net assets acquired	$	179,737
Consideration:
Company’s common shares issued		3,470
Purchase price per share of the Company’s common stock	$	51.79
Fair value of total consideration transferred	$	179,737

In the acquisition, the Company purchased $980.4 million of loans at fair value. All non-performing loans and select other classified loan relationships considered by management to be credit impaired are accounted for pursuant to ASC Topic 310-30, as previously discussed within Note 4, “Loans and Allowance for Loan Losses.”

The Company assumed long-term debt obligations with an aggregate balance of $103.1 million and an aggregate fair value of $65.5 million as of the Acquisition Date payable to four unconsolidated trusts (Marquette Capital Trust I, Marquette Capital Trust II, Marquette Capital Trust III, and Marquette Capital Trust IV) that have issued trust preferred securities. Interest rates on trust preferred securities trusts are tied to the three-month LIBOR rate with spreads ranging from 133 basis points to 160 basis points and reset quarterly. The trust preferred securities have maturity dates ranging from January 2036 to September 2036.

The amount of goodwill arising from the acquisition reflects the Company’s increased market share and related synergies that are expected to result from combining the operations of UMB and Marquette. All of the goodwill was assigned to the Bank segment. In accordance with ASC 350, Intangibles-Goodwill and Other, goodwill will not be amortized but will be subject to at least an annual impairment test. As the Company acquired tax deductible goodwill in excess of the amount reported in the consolidated financial statements, the goodwill is expected to be deductible for tax purposes. The fair value of the acquired identifiable intangible assets of $14.9 million is comprised of a core deposit intangible of $11.0 million, customer lists of $2.9 million and non-compete agreements of $1.0 million.

The results of operations of Marquette are included in the results of operations of the Company subsequent to the Acquisition Date. For the six months ended June 30, 2016, acquisition expenses recognized in Noninterest expense in the Company’s Consolidated Statements of Income totaled $4.0 million. This total included $880 thousand of severance in Salaries and employee benefits and $1.6 million in Legal and consulting fees.

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Commitments, Contingencies and Guarantees

6 Months Ended

Jun. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingencies and Guarantees

10. 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):

	June 30,		December 31,
	2016		2015
Commitments to extend credit for loans (excluding credit card loans)	$	6,406,215	$	6,671,794
Commitments to extend credit under credit card loans		2,729,837		2,986,581
Commercial letters of credit		6,024		11,541
Standby letters of credit		382,448		360,468
Futures contracts		1,300		—
Forward contracts		64,536		75,611
Spot foreign exchange contracts		6,350		10,391

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Derivatives and Hedging Activities

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging Activities

11. 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 and liabilities. 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 Consolidated Balance Sheets

The Company’s derivative assets and derivative liabilities are located within Other assets and Other liabilities, respectively, on the Company’s Consolidated Balance Sheets. This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of June 30, 2016 and December 31, 2015 (in thousands):

	Asset Derivatives				Liability Derivatives
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Fair Value
Interest Rate Products:
Derivatives not designated as hedging instruments	$	23,199	$	11,700	$	24,212	$	11,921
Derivatives designated as hedging instruments		546		603		7,646		337
Total	$	23,745	$	12,303	$	31,858	$	12,258

Fair Value Hedges of Interest Rate Risk

The Company is exposed to changes in the fair value of certain of its fixed rate assets and liabilities due to changes in the benchmark interest rate, LIBOR. Interest rate swaps designated as fair value hedges involve either making fixed rate payments to a counterparty in exchange for the Company receiving variable rate payments, or making variable rate payments to a counterparty in exchange for the Company receiving fixed rate payments, over the life of the agreements without the exchange of the underlying notional amount. As of June 30, 2016, the Company had two interest rate swaps with a notional amount of $15.9 million that were designated as fair value hedges of interest rate risk associated with the Company’s fixed rate loan assets and brokered time deposits.

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.

Cash Flow Hedges of Interest Rate Risk

The Company is exposed to changes in the fair value of certain of its variable-rate liabilities due to changes in the benchmark interest rate, LIBOR. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of June 30, 2016, the Company had two interest rate swaps with a notional amount of $51.5 million that were designated as cash flow hedges of interest rate risk associated with the Company’s variable rate subordinated debentures issued by Marquette Capital Trusts III and IV. For derivatives designated and that qualify as cash flow hedges, the effective portion of changes in fair value is recorded in accumulated other comprehensive income (AOCI) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly into earnings for the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk. During the three and six months ended June 30, 2016, the Company recognized net losses of $2.9 million and $7.0 million, respectively, in AOCI for the effective portion of the change in fair value of these cash flow hedges. During the three and six months ended June 30, 2016, the Company did not record any hedge ineffectiveness in earnings. Amounts reported in AOCI related to derivatives will be reclassified to Interest expense as interest payments are received or paid on the Company’s derivatives. The Company does not expect to reclassify any amounts from AOCI to Interest expense during the next 12 months as the Company’s derivatives are effective after December 2018. As of June 30, 2016, the Company is hedging its exposure to the variability in future cash flows for forecasted transactions over a maximum period of 20.25 years.

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 June 30, 2016, the Company had 48 interest rate swaps with an aggregate notional amount of $574.2 million related to this program. During the three and six months ended June 30, 2016, the Company recognized $440 thousand and $792 thousand of net losses, respectively, related to changes in fair value of these swaps. During the three and six months ended June 30, 2015, the Company recognized $20 thousand of net gains and $86 thousand of net losses, respectively, related to changes in the fair value of these swaps.

Effect of Derivative Instruments on the Consolidated Statements of Income

This table provides a summary of the amount of gain or loss recognized in other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2016 and June 30, 2015 (in thousands):

	Amount of Gain (Loss) Recognized
	For the Three Months Ended						For the Six Months Ended
	June 30, 2016			June 30, 2015			June 30, 2016			June 30, 2015
Interest Rate Products
Derivatives not designated as hedging instruments	$	(440	)	$	20		$	(792	)	$	(86	)
Total	$	(440	)	$	20		$	(792	)	$	(86	)
Interest Rate Products
Derivatives designated as hedging instruments:
Fair value adjustments on derivatives	$	(138	)	$	121		$	(331	)	$	6
Fair value adjustments on hedged items		137			(114	)		329			(4	)
Total	$	(1	)	$	7		$	(2	)	$	2

This table provides a summary of the amount of gain or loss recognized in AOCI in the Consolidated Statements of Comprehensive Income related to the Company’s derivative assets and liabilities as of June 30, 2016 and June 30, 2015 (in thousands):

	Amount of Loss Recognized in Other Comprehensive Income on Derivatives (Effective Portion)
	For the Three Months Ended					For the Six Months Ended
Derivatives in Cash Flow Hedging Relationships	June 30, 2016			June 30, 2015		June 30, 2016			June 30, 2015
Interest rate products
Derivatives designated as cash flow hedging instruments	$	(2,894	)	$	—	$	(7,034	)	$	—
Total	$	(2,894	)	$	—	$	(7,034	)	$	—

Credit-risk-related Contingent Features

The Company has agreements with certain of its derivative counterparties that contain a provision that 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 June 30, 2016, the termination value of derivatives in a net liability position, which includes accrued interest, related to these agreements was $32.1 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 June 30, 2016, it could have been required to settle its obligations under the agreements at the termination value.

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Fair Value Measurements

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

12. Fair Value Measurements

The following table presents information about the Company’s assets measured at fair value on a recurring basis as of June 30, 2016, 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 measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 (in thousands):

	Fair Value Measurement at June 30, 2016
Description	June 30, 2016		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		2,351		—		2,351		—
Mortgage-backed		6,569		—		6,569		—
State and political subdivisions		19,084		—		19,084		—
Trading - other		27,907		27,790		117		—
Trading securities		56,311		28,190		28,121		—
U.S. Treasury		363,337		363,337		—		—
U.S. Agencies		421,625		—		421,625		—
Mortgage-backed		3,600,175		—		3,600,175		—
State and political subdivisions		2,305,979		—		2,305,979		—
Corporates		80,063		80,063		—		—
Available for sale securities		6,771,179		443,400		6,327,779		—
Company-owned life insurance		36,479		—		36,479		—
Bank-owned life insurance		206,508		—		206,508		—
Derivatives		23,745		—		23,745		—
Total	$	7,094,222	$	471,590	$	6,622,632	$	—
Liabilities
Deferred compensation	$	37,715	$	37,715	$	—	$	—
Derivatives		31,858		—		31,858		—
Total	$	69,573	$	37,715	$	31,858	$	—

	Fair Value Measurement at December 31, 2015
Description	December 31, 2015		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		1,309		—		1,309		—
State and political subdivisions		10,200		—		10,200		—
Trading - other		17,708		17,708		—		—
Trading securities		29,617		18,108		11,509		—
U.S. Treasury		349,779		349,779		—		—
U.S. Agencies		666,389		—		666,389		—
Mortgage-backed		3,572,446		—		3,572,446		—
State and political subdivisions		2,138,413		—		2,138,413		—
Corporates		79,922		79,922		—		—
Available for sale securities		6,806,949		429,701		6,377,248		—
Company-owned life insurance		31,205		—		31,205		—
Bank-owned life insurance		202,991		—		202,991		—
Derivatives		12,303		—		12,303		—
Total	$	7,083,065	$	447,809	$	6,635,256	$	—
Liabilities
Deferred compensation	$	32,937	$	32,937	$	—	$	—
Contingent consideration liability		17,718		—		—		17,718
Derivatives		12,258		—		12,258		—
Total	$	62,913	$	32,937	$	12,258	$	17,718

The following table reconciles the beginning and ending balances of the contingent consideration liability for the six months ended June 30, 2016 and 2015 (in thousands):

	Six Months Ended June 30,
	2016			2015
Beginning balance	$	17,718		$	53,411
Payment of contingent consideration on acquisitions		(17,784	)		(18,702	)
Fair value adjustments		66			(3,418	)
Ending balance	$	—		$	31,291

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:

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.

Securities Available for Sale 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. Prices are provided by third-party pricing services and are based on observable market inputs. On an annual basis, the Company compares a sample of these prices to other independent sources for the same securities. Additionally, throughout the year if securities are sold, comparisons are made between the pricing services prices and the market prices at which the securities were sold. Variances are analyzed, and, if appropriate, additional research is conducted with the third-party pricing services. Based on this research, the pricing services may affirm or revise their quoted price. No significant adjustments have been made to the prices provided by the pricing services. The pricing services also provide documentation on an ongoing basis that includes reference data, inputs and methodology by asset class, which is reviewed to ensure that security placement within the fair value hierarchy is appropriate.

Company-owned Life Insurance Fair value is equal to the cash surrender value of the life insurance policies.

Bank-owned Life Insurance Fair value is equal to the cash surrender value of the life insurance policies.

Derivatives Fair values are determined using valuation techniques including discounted cash flow analysis on the expected cash flows from 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.

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 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 expense.

Assets measured at fair value on a non-recurring basis as of June 30, 2016 and December 31, 2015 (in thousands):

	Fair Value Measurement at June 30, 2016 Using
Description	June 30, 2016		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 Six Months Ended June 30
Impaired loans	$	15,651	$	—	$	—	$	15,651	$	1,124
Other real estate owned		194		—		—		194		—
Total	$	15,845	$	—	$	—	$	15,845	$	1,124

	Fair Value Measurement at December 31, 2015 Using
Description	December 31, 2015		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	$	22,885	$	—	$	—	$	22,885	$	(3,957	)
Other real estate owned		3,269		—		—		3,269		—
Total	$	26,154	$	—	$	—	$	26,154	$	(3,957	)

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 write-downs that are based on the external appraised value of the underlying collateral. 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. 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, third-party price opinions, or internally developed pricing methods and those measurements are classified as Level 3.

Goodwill Valuation of goodwill to determine impairment is performed annually, or more frequently if there is an event or circumstance that would indicate impairment may have occurred. The process involves calculations to determine the fair value of each reporting unit on a stand-alone basis. A combination of formulas using current market multiples, based on recent sales of financial institutions within the Company’s geographic marketplace, is used to estimate the fair value of each reporting unit. That fair value is compared to the carrying amount of the reporting unit, including its recorded goodwill. Impairment is considered to have occurred if the fair value of the reporting unit is lower than the carrying amount of the reporting unit. The fair value of the Company’s common stock relative to its computed book value per share is also considered as part of the overall evaluation. These measurements are 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 June 30, 2016 and December 31, 2015 are as follows (in millions):

	Fair Value Measurement at June 30, 2016 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
Cash and short-term investments	$	931.6	$	744.9	$	186.7	$	—	$	931.6
Securities available for sale		6,771.2		443.4		6,327.8		—		6,771.2
Securities held to maturity		880.6				991.7		—		991.7
Trading securities		56.3		28.2		28.1		—		56.3
Other securities		66.3				66.3		—		66.3
Loans (exclusive of allowance for loan loss)		10,093.8				10,196.5		—		10,196.5
Derivatives		23.7				23.7		—		23.7
FINANCIAL LIABILITIES
Demand and savings deposits		14,503.9		14,503.9				—		14,503.9
Time deposits		1,144.8				1,144.8		—		1,144.8
Other borrowings		1,793.6		247.9		1,545.7		—		1,793.6
Long-term debt		85.3				85.9		—		85.9
Derivatives		31.9				31.9		—		31.9
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										2.8
Commercial letters of credit										0.1
Standby letters of credit										1.2
	Fair Value Measurement at December 31, 2015 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
Cash and short-term investments	$	1,154.7	$	997.0	$	157.7	$	—	$	1,154.7
Securities available for sale		6,806.9		429.7		6,377.2		—		6,806.9
Securities held to maturity		667.1		—		691.4		—		691.4
Trading securities		29.6		18.1		11.5		—		29.6
Other securities		65.2		—		65.2		—		65.2
Loans (exclusive of allowance for loan loss)		9,431.3		—		9,452.1		—		9,452.1
Derivatives		12.3		—		12.3		—		12.3
FINANCIAL LIABILITIES
Demand and savings deposits		13,836.9		13,836.9		—		—		13,836.9
Time deposits		1,255.9		—		1,255.9		—		1,255.9
Other borrowings		1,823.1		66.9		1,756.2		—		1,823.1
Long-term debt		86.1		—		86.4		—		86.4
Derivatives		12.3		—		12.3		—		12.3
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										4.9
Commercial letters of credit										0.3
Standby letters of credit										2.6

Cash and short-term investments The carrying amounts of cash and due from banks, federal funds sold and resell agreements are reasonable estimates of their fair values.

Securities held to maturity Fair value of held-to-maturity securities are estimated by discounting the future cash flows using current market rates.

Other securities Amount consists of FRB and FHLB stock held by the Company, PCM equity-method investments, and other miscellaneous investments. The fair value of FRB and FHLB 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 or FHLB. The fair value of PCM 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.

Demand and savings deposits The fair value of demand deposits and savings accounts is the amount payable on demand at June 30, 2016 and December 31, 2015.

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.

Other borrowings The carrying amounts of federal funds purchased, repurchase agreements and other short-term debt are reasonable estimates of their fair value because of the short-term nature of their 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.

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2016

Accounting Policies [Abstract]

Cash and cash equivalents

Cash and cash equivalents

Cash and cash equivalents include Cash and due from banks and amounts due from the Federal Reserve Bank. Cash on hand, cash items in the process of collection, and amounts due from correspondent banks are included in Cash and due from banks. Amounts due from the Federal Reserve Bank are interest-bearing for all periods presented and are included in the Interest-bearing due from banks line on the Company’s Consolidated Balance Sheets.

This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of June 30, 2016 and June 30, 2015 (in thousands):

	June 30,
	2016		2015
Due from the Federal Reserve Bank	$	270,117	$	521,685
Cash and due from banks		355,732		490,171
Cash and cash equivalents at end of period	$	625,849	$	1,011,856

Also included in the Interest-bearing due from banks line, but not considered cash and cash equivalents, are interest-bearing accounts held at other financial institutions, which totaled $109.5 million and $177.3 million at June 30, 2016 and June 30, 2015, respectively.

Per Share Data

Per Share Data

Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each period. Diluted quarter-to-date net income per share includes the dilutive effect of 394,738 and 370,227 shares issuable upon the exercise of options granted by the Company and outstanding at June 30, 2016 and 2015, respectively. Diluted year-to-date net income per share includes the dilutive effect of 362,517 and 405,702 shares issuable upon the exercise of stock options granted by the Company and outstanding at June 30, 2016 and 2015, respectively.

Options issued under employee benefits plans to purchase 637,331 shares of common stock were outstanding at June 30, 2016, but were not included in the computation of quarter-to-date and year-to-date diluted EPS because the options were anti-dilutive. Options issued under employee benefits plans to purchase 495,366 shares of common stock were outstanding at June 30, 2015, but were not included in the computation of quarter-to-date and year-to-date diluted EPS because the options were anti-dilutive.

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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2016

Accounting Policies [Abstract]

Summary of Cash and Cash Equivalents

This table provides a summary of cash and cash equivalents as presented on the Consolidated Statements of Cash Flows as of June 30, 2016 and June 30, 2015 (in thousands):

	June 30,
	2016		2015
Due from the Federal Reserve Bank	$	270,117	$	521,685
Cash and due from banks		355,732		490,171
Cash and cash equivalents at end of period	$	625,849	$	1,011,856

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Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Schedule of Net Book Value for PCI Loans Accounted Under ASC 310-30

Below is the composition of the net book value for the PCI loans accounted for under ASC 310-30 at June 30, 2016 (in thousands):

	June 30, 2016
PCI Loans:
Contractual cash flows	$	2,970
Non-accretable difference		(647	)
Accretable yield		(101	)
Loans accounted for under ASC 310-30	$	2,222

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 June 30, 2016 and December 31, 2015 (in thousands):

	June 30, 2016
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non- Accrual Loans		Total Past Due		PCI Loans		Current		Total Loans
Loans
Commercial:
Commercial	$	8,753	$	793	$	41,828	$	51,374	$	—	$	4,392,763	$	4,444,137
Asset-based		—		—		—		—		—		223,339		223,339
Factoring		—		—		—		—		—		101,327		101,327
Commercial – credit card		424		255		19		698		—		144,661		145,359
Real estate:
Real estate – construction		478		—		311		789		—		530,987		531,776
Real estate – commercial		4,750		—		9,375		14,125		992		2,970,077		2,985,194
Real estate – residential		3,143		66		537		3,746		—		474,892		478,638
Real estate – HELOC		1,089		—		3,389		4,478		—		737,225		741,703
Consumer:
Consumer – credit card		2,079		1,961		313		4,353		—		266,000		270,353
Consumer – other		8,013		1,625		2,651		12,289		1,230		111,344		124,863
Leases		—		—		—		—		—		36,577		36,577
Total loans	$	28,729	$	4,700	$	58,423	$	91,852	$	2,222	$	9,989,192	$	10,083,266

	June 30, 2016
	30-89 Days Past Due		Greater than 90 Days Past Due		Current		Total Loans
PCI Loans
Commercial:
Commercial	$	—	$	—	$	—	$	—
Asset-based		—		—		—		—
Factoring		—		—		—		—
Commercial – credit card		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—
Real estate – commercial		—		992		—		992
Real estate – residential		—		—		—		—
Real estate – HELOC		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—
Consumer – other		51		27		1,152		1,230
Leases		—		—				—
Total PCI loans	$	51	$	1,019	$	1,152	$	2,222

	December 31, 2015
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non- Accrual Loans		Total Past Due		PCI Loans		Current		Total Loans
Loans
Commercial:
Commercial	$	5,821	$	2,823	$	43,841	$	52,485	$	—	$	4,153,251	$	4,205,736
Asset-based		—		—		—		—		—		219,244		219,244
Factoring		—		—		—		—		—		90,686		90,686
Commercial – credit card		614		24		13		651		—		124,710		125,361
Real estate:
Real estate – construction		1,828		548		331		2,707		—		413,861		416,568
Real estate – commercial		2,125		1,630		9,578		13,333		1,055		2,648,384		2,662,772
Real estate – residential		612		35		800		1,447		—		490,780		492,227
Real estate – HELOC		129		—		3,524		3,653		—		726,310		729,963
Consumer:
Consumer – credit card		2,256		2,089		468		4,813		—		286,757		291,570
Consumer – other		5,917		175		2,597		8,689		2,001		144,087		154,777
Leases		—		—		—		—		—		41,857		41,857
Total loans	$	19,302	$	7,324	$	61,152	$	87,778	$	3,056	$	9,339,927	$	9,430,761

	December 31, 2015
	30-89 Days Past Due		Greater than 90 Days Past Due		Current		Total Loans
PCI Loans
Commercial:
Commercial	$	—	$	—	$	—	$	—
Asset-based		—		—		—		—
Factoring		—		—		—		—
Commercial – credit card		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—
Real estate – commercial		—		1,055		—		1,055
Real estate – residential		—		—		—		—
Real estate – HELOC		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—
Consumer – other		58		105		1,838		2,001
Leases		—		—		—		—
Total PCI loans	$	58	$	1,160	$	1,838	$	3,056

Credit Risk Profile by Risk Rating

Credit Exposure

Credit Risk Profile by Risk Rating

Originated and Non-PCI Loans

	Commercial				Asset-based				Factoring
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Non-watch list	$	4,058,989	$	3,880,109	$	195,329	$	198,903	$	100,201	$	90,449
Watch		161,686		105,539		—		—		—		—
Special Mention		44,302		29,397		22,409		18,163		341		237
Substandard		179,160		190,691		5,601		2,178		785		—
Total	$	4,444,137	$	4,205,736	$	223,339	$	219,244	$	101,327	$	90,686

	Real estate – construction				Real estate – commercial
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Non-watch list	$	526,469	$	415,258	$	2,884,897	$	2,561,401
Watch		4,897		370		44,388		51,774
Special Mention		—		—		11,526		22,544
Substandard		410		940		43,391		25,998
Total	$	531,776	$	416,568	$	2,984,202	$	2,661,717

Credit Exposure

Credit Risk Profile by Risk Rating

PCI Loans

	Real estate – commercial
	June 30, 2016		December 31, 2015
Non-watch list	$	—	$	—
Watch		—		—
Special Mention		—		—
Substandard		992		1,055
Total	$	992	$	1,055

Credit Risk Profile Based on Payment Activity

Credit Exposure

Credit Risk Profile Based on Payment Activity

Originated and Non-PCI Loans

	Commercial – credit card				Real estate – residential				Real estate – HELOC
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Performing	$	145,340	$	125,348	$	478,101	$	491,427	$	738,314	$	726,439
Non-performing		19		13		537		800		3,389		3,524
Total	$	145,359	$	125,361	$	478,638	$	492,227	$	741,703	$	729,963
	Consumer – credit card				Consumer – other				Leases
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Performing	$	270,040	$	291,102	$	120,982	$	152,180	$	36,577	$	41,857
Non-performing		313		468		2,651		2,597		—		—
Total	$	270,353	$	291,570	$	123,633	$	154,777	$	36,577	$	41,857

This table provides an analysis of the credit risk profile of each loan class accounted for under ASC 310-30 at June 30, 2016 and December 31, 2015 (in thousands):

Credit Exposure

Credit Risk Profile Based on Payment Activity

PCI Loans

	Consumer – other
	June 30, 2016		December 31, 2015
Performing	$	1,230	$	2,001
Non-performing		—		—
Total	$	1,230	$	2,001

Rollforward of Allowance for Loan Losses by Portfolio Segment

This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2016 (in thousands):

	Three Months Ended June 30, 2016
	Commercial			Real estate			Consumer			Leases			Total
Allowance for loan losses:
Beginning balance	$	61,308		$	9,909		$	9,060		$	121		$	80,398
Charge-offs		(800	)		(1,351	)		(2,101	)		—			(4,252	)
Recoveries		859			187			474			—			1,520
Provision		3,194			1,938			1,886			(18	)		7,000
Ending balance	$	64,561		$	10,683		$	9,319		$	103		$	84,666
	Six Months Ended June 30, 2016
	Commercial			Real estate			Consumer			Leases			Total
Allowance for loan losses:
Beginning balance	$	63,847		$	8,220		$	8,949		$	127		$	81,143
Charge-offs		(5,875	)		(2,796	)		(4,616	)		—			(13,287	)
Recoveries		3,348			331			1,131			—			4,810
Provision		3,241			4,928			3,855			(24	)		12,000
Ending balance	$	64,561		$	10,683		$	9,319		$	103		$	84,666
Ending balance: individually evaluated for impairment	$	4,714		$	26		$	—		$	—		$	4,740
Ending balance: collectively evaluated for impairment		59,847			10,657			9,319			103			79,926
Loans:
Ending balance: loans	$	4,914,162		$	4,737,311		$	395,216		$	36,577		$	10,083,266
Ending balance: individually evaluated for impairment		58,270			6,338			2,578			—			67,186
Ending balance: collectively evaluated for impairment		4,855,892			4,729,981			391,408			36,577			10,013,858
Ending balance: PCI Loans		—			992			1,230			—			2,222

This table provides a rollforward of the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2015 (in thousands):

	Three Months Ended June 30, 2015
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	55,659		$	11,912		$	9,780		$	128	$	77,479
Charge-offs		(3,088	)		(68	)		(2,446	)		—		(5,602	)
Recoveries		89			77			678			—		844
Provision		6,718			(3,029	)		1,276			35		5,000
Ending balance	$	59,378		$	8,892		$	9,288		$	163	$	77,721
	Six Months Ended June 30, 2015
	Commercial			Real estate			Consumer			Leases		Total
Allowance for loan losses:
Beginning balance	$	55,349		$	10,725		$	9,921		$	145	$	76,140
Charge-offs		(3,500	)		(100	)		(5,150	)		—		(8,750	)
Recoveries		899			92			1,340			—		2,331
Provision		6,630			(1,825	)		3,177			18		8,000
Ending balance	$	59,378		$	8,892		$	9,288		$	163	$	77,721
Ending balance: individually evaluated for impairment	$	1,266		$	295		$	—		$	—	$	1,561
Ending balance: collectively evaluated for impairment		58,112			8,597			9,288			163		76,160
Loans:
Ending balance: loans	$	4,579,611		$	3,915,506		$	380,938		$	40,073	$	8,916,128
Ending balance: individually evaluated for impairment		32,818			9,113			1,240			—		43,171
Ending balance: collectively evaluated for impairment		4,544,303			3,903,880			377,009			40,073		8,865,265
Ending balance: PCI Loans		2,490			2,513			2,689			—		7,692

Analysis of Impaired Loans

This table provides an analysis of impaired loans by class at June 30, 2016 and December 31, 2015 (in thousands):

	As of June 30, 2016
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	64,008	$	37,994	$	20,276	$	58,270	$	4,714	$	64,586
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		962		311		115		426		26		437
Real estate – commercial		7,839		5,630		—		5,630		—		5,512
Real estate – residential		364		282		—		282		—		707
Real estate – HELOC		—		—		—		—		—		132
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		2,578		2,578		—		2,578		—		2,582
Leases		—		—		—		—		—		—
Total	$	75,751	$	46,795	$	20,391	$	67,186	$	4,740	$	73,956

	As of December 31, 2015
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	72,739	$	40,648	$	27,356	$	68,004	$	5,668	$	41,394
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		782		331		118		449		42		802
Real estate – commercial		7,117		4,891		1,275		6,166		154		7,768
Real estate – residential		1,054		939		—		939		—		1,433
Real estate – HELOC		214		193		—		193		—		162
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		2,574		2,574		—		2,574		—		1,795
Leases		—		—		—		—		—		—
Total	$	84,480	$	49,576	$	28,749	$	78,325	$	5,864	$	53,354

Summary of Loans Restructured by Class

This table provides a summary of loans restructured by class during the three and six months ended June 30, 2016 (in thousands):

	Three Months Ended June 30, 2016						Six Months Ended June 30, 2016
	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		—	$	—	$	—		2	$	12,056	$	12,056
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—		—		—
Real estate – commercial		—		—		—		—		—		—
Real estate – residential		—		—		—		—		—		—
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		—		—		—		—		—		—
Leases		—		—		—		—		—		—
Total		—	$	—	$	—		2	$	12,056	$	12,056

This table provides a summary of loans restructured by class during the three and six months ended June 30, 2015 (in thousands):

	Three Months Ended June 30, 2015						Six Months Ended June 30, 2015
	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		14	$	19,463	$	19,463		14	$	19,463	$	19,463
Asset-based		—		—		—		—		—		—
Factoring		—		—		—		—		—		—
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		—		—		—		—		—		—
Real estate – commercial		—		—		—		—		—		—
Real estate – residential		1		121		121		1		121		121
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		—		—		—		—		—		—
Leases		—		—		—		—		—		—
Total		15	$	19,584	$	19,584		15	$	19,584	$	19,584

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Securities (Tables)

6 Months Ended

Jun. 30, 2016

Securities Available for Sale

This table provides detailed information about securities available for sale at June 30, 2016 and December 31, 2015 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
June 30, 2016
U.S. Treasury	$	362,766	$	576	$	(5	)	$	363,337
U.S. Agencies		421,149		507		(31	)		421,625
Mortgage-backed		3,553,661		53,444		(6,930	)		3,600,175
State and political subdivisions		2,257,535		48,687		(243	)		2,305,979
Corporates		80,044		85		(66	)		80,063
Total	$	6,675,155	$	103,299	$	(7,275	)	$	6,771,179
			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
December 31, 2015
U.S. Treasury	$	350,354	$	1	$	(576	)	$	349,779
U.S. Agencies		667,414		7		(1,032	)		666,389
Mortgage-backed		3,598,115		12,420		(38,089	)		3,572,446
State and political subdivisions		2,116,543		23,965		(2,095	)		2,138,413
Corporates		80,585		—		(663	)		79,922
Total	$	6,813,011	$	36,393	$	(42,455	)	$	6,806,949

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 June 30, 2016 and December 31, 2015 (in thousands):

June 30, 2016	Less than 12 months					12 months or more					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Description of Securities
U.S. Treasury	$	5,025	$	(5	)	$	—	$	—		$	5,025	$	(5	)
U.S. Agencies		45,635		(24	)		3,036		(7	)		48,671		(31	)
Mortgage-backed		204,221		(744	)		312,994		(6,186	)		517,215		(6,930	)
State and political subdivisions		131,455		(188	)		10,155		(55	)		141,610		(243	)
Corporates		8,748		(2	)		39,069		(64	)		47,817		(66	)
Total temporarily-impaired debt securities available for sale	$	395,084	$	(963	)	$	365,254	$	(6,312	)	$	760,338	$	(7,275	)

December 31, 2015	Less than 12 months					12 months or more					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Description of Securities
U.S. Treasury	$	344,556	$	(576	)	$	—	$	—		$	344,556	$	(576	)
U.S. Agencies		615,993		(1,032	)		—		—			615,993		(1,032	)
Mortgage-backed		2,056,316		(21,013	)		426,959		(17,076	)		2,483,275		(38,089	)
State and political subdivisions		479,197		(1,316	)		60,324		(779	)		539,521		(2,095	)
Corporates		29,126		(183	)		50,796		(480	)		79,922		(663	)
Total temporarily-impaired debt securities available for sale	$	3,525,188	$	(24,120	)	$	538,079	$	(18,335	)	$	4,063,267	$	(42,455	)

Securities Held to Maturity

The table below provides detailed information for securities held to maturity at June 30, 2016 and December 31, 2015 (in thousands):

			Net
	Amortized		Unrealized		Fair
	Cost		Gains		Value
June 30, 2016
State and political subdivisions	$	880,600	$	111,115	$	991,715
December 31, 2015
State and political subdivisions	$	667,106	$	24,273	$	691,379

Schedule of Federal Reserve Bank Stock and Federal Home Loan Bank Stock and Other Securities

The table below provides detailed information for Federal Reserve Bank (FRB) stock and Federal Home Loan Bank (FHLB) stock and other securities at June 30, 2016 and December 31, 2015 (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
June 30, 2016
FRB and FHLB stock	$	33,667	$	—	$	—		$	33,667
Other securities – marketable		4		7,951		—			7,955
Other securities – non-marketable		23,974		730		(26	)		24,678
Total Other securities	$	57,645	$	8,681	$	(26	)	$	66,300
December 31, 2015
FRB and FHLB stock	$	33,215	$	—	$	—		$	33,215
Other securities – marketable		5		7,159		—			7,164
Other securities – non-marketable		23,855		964		—			24,819
Total Other securities	$	57,075	$	8,123	$	—		$	65,198

Available-for-sale Securities [Member]

Contractual Maturity Information

The following table presents contractual maturity information for securities available for sale at June 30, 2016 (in thousands):

	Amortized		Fair
	Cost		Value
Due in 1 year or less	$	931,783	$	932,836
Due after 1 year through 5 years		1,118,929		1,136,979
Due after 5 years through 10 years		861,965		887,760
Due after 10 years		208,817		213,429
Total		3,121,494		3,171,004
Mortgage-backed securities		3,553,661		3,600,175
Total securities available for sale	$	6,675,155	$	6,771,179

Held-to-maturity Securities [Member]

Contractual Maturity Information

The following table presents contractual maturity information for securities held to maturity at June 30, 2016 (in thousands):

	Amortized		Fair
	Cost		Value
Due in 1 year or less	$	16,268	$	18,321
Due after 1 year through 5 years		76,310		85,939
Due after 5 years through 10 years		481,148		541,859
Due after 10 years		306,874		345,596
Total securities held to maturity	$	880,600	$	991,715

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Goodwill and Other Intangibles (Tables)

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill for the periods ended June 30, 2016 and December 31, 2015 by reportable segment are as follows (in thousands):

	Bank		Institutional Investment Management		Asset Servicing		Total
Balances as of January 1, 2016	$	161,341	$	47,529	$	19,476	$	228,346
Acquisition of Marquette		50		—		—		50
Balances as of June 30, 2016	$	161,391	$	47,529	$	19,476	$	228,396
Balances as of January 1, 2015	$	142,753	$	47,529	$	19,476	$	209,758
Acquisition of Marquette		18,588		—		—		18,588
Balances as of December 31, 2015	$	161,341	$	47,529	$	19,476	$	228,346

Changes in Intangible Assets

The following table lists the finite-lived intangible assets that continue to be subject to amortization as of June 30, 2016 and December 31, 2015 (in thousands):

	As of June 30, 2016
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	47,527	$	37,371	$	10,156
Customer relationships		107,460		77,933		29,527
Other intangible assets		4,198		3,470		728
Total intangible assets	$	159,185	$	118,774	$	40,411
	As of December 31, 2015
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Core deposit intangible assets	$	36,497	$	33,613	$	2,884
Core deposit intangible-Marquette acquisition		11,030		1,838		9,192
Customer relationships		104,560		73,496		31,064
Customer relationship-Marquette acquisition		2,900		338		2,562
Other intangible assets		3,247		2,841		406
Other intangible assets-Marquette acquisition		951		277		674
Total intangible assets	$	159,185	$	112,403	$	46,782

Aggregate Amortization Expense Recognized

The following table has the aggregate amortization expense recognized in each period (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Aggregate amortization expense	$	3,145	$	2,569	$	6,371	$	5,324

Estimated Amortization Expense of Intangible Assets

The following table lists estimated amortization expense of intangible assets in future periods (in thousands):

For the six months ending December 31, 2016	$	5,920
For the year ending December 31, 2017		10,180
For the year ending December 31, 2018		7,202
For the year ending December 31, 2019		5,822
For the year ending December 31, 2020		4,487
For the year ending December 31, 2021		3,101

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Securities Sold Under Agreements to Repurchase (Tables)

6 Months Ended

Jun. 30, 2016

Repurchase Agreements

Remaining Contractual Maturities Of Repurchase Agreements

The table below presents the remaining contractual maturities of repurchase agreements outstanding at June 30, 2016, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands).

	As of June 30, 2016
	Remaining Contractual Maturities of the Agreements
	Overnight & Continuous		Over 90 Days		Total
Repurchase agreements, secured by:
U.S. Treasury	$	296,222	$	—	$	296,222
U.S. Agencies		1,241,328		3,100		1,244,428
Total repurchase agreements	$	1,537,550	$	3,100	$	1,540,650

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Business Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Segment Financial Results

Segment financial results were as follows (in thousands):

	Three Months Ended June 30, 2016
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	118,613	$	—	$	2,597	$	121,210
Provision for loan losses		7,000		—		—		7,000
Noninterest income		80,044		19,127		22,276		121,447
Noninterest expense		145,736		18,858		20,649		185,243
Income before taxes		45,921		269		4,224		50,414
Income tax expense		11,939		77		1,101		13,117
Net income	$	33,982	$	192	$	3,123	$	37,297
Average assets	$	18,170,000	$	61,000	$	1,205,000	$	19,436,000
	Three Months Ended June 30, 2015
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	96,403	$	—	$	957	$	97,360
Provision for loan losses		5,000		—		—		5,000
Noninterest income		70,840		25,685		23,025		119,550
Noninterest expense		133,617		18,302		20,045		171,964
Income before taxes		28,626		7,383		3,937		39,946
Income tax expense		7,017		1,747		968		9,732
Net income	$	21,609	$	5,636	$	2,969	$	30,214
Average assets	$	16,384,000	$	71,000	$	958,000	$	17,413,000
	Six Months Ended June 30, 2016
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	233,885	$	—	$	5,217	$	239,102
Provision for loan losses		12,000		—		—		12,000
Noninterest income		155,483		37,542		44,772		237,797
Noninterest expense		289,104		36,088		40,795		365,987
Income before taxes		88,264		1,454		9,194		98,912
Income tax expense		22,643		367		2,360		25,370
Net income	$	65,621	$	1,087	$	6,834	$	73,542
Average assets	$	18,027,000	$	62,000	$	1,296,000	$	19,385,000
	Six Months Ended June 30, 2015
	Bank		Institutional Investment Management		Asset Servicing		Total
Net interest income	$	185,764	$	—	$	1,954	$	187,718
Provision for loan losses		8,000		—		—		8,000
Noninterest income		145,529		52,769		46,459		244,757
Noninterest expense		258,796		36,262		41,319		336,377
Income before taxes		64,497		16,507		7,094		88,098
Income tax expense		17,732		4,497		1,890		24,119
Net income	$	46,765	$	12,010	$	5,204	$	63,979
Average assets	$	16,101,000	$	73,000	$	950,000	$	17,124,000

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Acquisition (Tables)

6 Months Ended

Jun. 30, 2016

Business Combinations [Abstract]

Summary of Net Assets Acquired (at Fair Value) and Consideration Transferred

The following table summarizes the net assets acquired (at fair value) and consideration transferred for Marquette (in thousands, except for per share data):

	Fair Value May 31, 2015
Assets
Loans	$	980,404
Investment securities		177,694
Cash and due from banks		95,351
Premises and equipment, net		11,508
Identifiable intangible assets		14,881
Other assets		32,336
Total assets acquired		1,312,174
Liabilities
Noninterest-bearing deposits		226,161
Interest-bearing deposits		708,675
Short-term debt		112,133
Long-term debt		89,971
Other liabilities		14,135
Total liabilities assumed		1,151,075
Net identifiable assets acquired		161,099
Goodwill acquired		18,638
Net assets acquired	$	179,737
Consideration:
Company’s common shares issued		3,470
Purchase price per share of the Company’s common stock	$	51.79
Fair value of total consideration transferred	$	179,737

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Commitments, Contingencies and Guarantees (Tables)

6 Months Ended

Jun. 30, 2016

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):

	June 30,		December 31,
	2016		2015
Commitments to extend credit for loans (excluding credit card loans)	$	6,406,215	$	6,671,794
Commitments to extend credit under credit card loans		2,729,837		2,986,581
Commercial letters of credit		6,024		11,541
Standby letters of credit		382,448		360,468
Futures contracts		1,300		—
Forward contracts		64,536		75,611
Spot foreign exchange contracts		6,350		10,391

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Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivative Assets and Liabilities

The Company’s derivative assets and derivative liabilities are located within Other assets and Other liabilities, respectively, on the Company’s Consolidated Balance Sheets. This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of June 30, 2016 and December 31, 2015 (in thousands):

	Asset Derivatives				Liability Derivatives
	June 30, 2016		December 31, 2015		June 30, 2016		December 31, 2015
Fair Value
Interest Rate Products:
Derivatives not designated as hedging instruments	$	23,199	$	11,700	$	24,212	$	11,921
Derivatives designated as hedging instruments		546		603		7,646		337
Total	$	23,745	$	12,303	$	31,858	$	12,258

Summary of Amount of Gain or Loss Recognized in Other Non-Interest Expense in Consolidated Statements of Income Related to Derivative Assets and Liabilities

This table provides a summary of the amount of gain or loss recognized in other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2016 and June 30, 2015 (in thousands):

	Amount of Gain (Loss) Recognized
	For the Three Months Ended						For the Six Months Ended
	June 30, 2016			June 30, 2015			June 30, 2016			June 30, 2015
Interest Rate Products
Derivatives not designated as hedging instruments	$	(440	)	$	20		$	(792	)	$	(86	)
Total	$	(440	)	$	20		$	(792	)	$	(86	)
Interest Rate Products
Derivatives designated as hedging instruments:
Fair value adjustments on derivatives	$	(138	)	$	121		$	(331	)	$	6
Fair value adjustments on hedged items		137			(114	)		329			(4	)
Total	$	(1	)	$	7		$	(2	)	$	2

Summary of Amount of Gain or Loss Recognized in AOCI in Consolidated Statements of Comprehensive Income Related to Company's Derivative Assets and Liabilities

This table provides a summary of the amount of gain or loss recognized in AOCI in the Consolidated Statements of Comprehensive Income related to the Company’s derivative assets and liabilities as of June 30, 2016 and June 30, 2015 (in thousands):

	Amount of Loss Recognized in Other Comprehensive Income on Derivatives (Effective Portion)
	For the Three Months Ended					For the Six Months Ended
Derivatives in Cash Flow Hedging Relationships	June 30, 2016			June 30, 2015		June 30, 2016			June 30, 2015
Interest rate products
Derivatives designated as cash flow hedging instruments	$	(2,894	)	$	—	$	(7,034	)	$	—
Total	$	(2,894	)	$	—	$	(7,034	)	$	—

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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 (in thousands):

	Fair Value Measurement at June 30, 2016
Description	June 30, 2016		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		2,351		—		2,351		—
Mortgage-backed		6,569		—		6,569		—
State and political subdivisions		19,084		—		19,084		—
Trading - other		27,907		27,790		117		—
Trading securities		56,311		28,190		28,121		—
U.S. Treasury		363,337		363,337		—		—
U.S. Agencies		421,625		—		421,625		—
Mortgage-backed		3,600,175		—		3,600,175		—
State and political subdivisions		2,305,979		—		2,305,979		—
Corporates		80,063		80,063		—		—
Available for sale securities		6,771,179		443,400		6,327,779		—
Company-owned life insurance		36,479		—		36,479		—
Bank-owned life insurance		206,508		—		206,508		—
Derivatives		23,745		—		23,745		—
Total	$	7,094,222	$	471,590	$	6,622,632	$	—
Liabilities
Deferred compensation	$	37,715	$	37,715	$	—	$	—
Derivatives		31,858		—		31,858		—
Total	$	69,573	$	37,715	$	31,858	$	—

	Fair Value Measurement at December 31, 2015
Description	December 31, 2015		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		1,309		—		1,309		—
State and political subdivisions		10,200		—		10,200		—
Trading - other		17,708		17,708		—		—
Trading securities		29,617		18,108		11,509		—
U.S. Treasury		349,779		349,779		—		—
U.S. Agencies		666,389		—		666,389		—
Mortgage-backed		3,572,446		—		3,572,446		—
State and political subdivisions		2,138,413		—		2,138,413		—
Corporates		79,922		79,922		—		—
Available for sale securities		6,806,949		429,701		6,377,248		—
Company-owned life insurance		31,205		—		31,205		—
Bank-owned life insurance		202,991		—		202,991		—
Derivatives		12,303		—		12,303		—
Total	$	7,083,065	$	447,809	$	6,635,256	$	—
Liabilities
Deferred compensation	$	32,937	$	32,937	$	—	$	—
Contingent consideration liability		17,718		—		—		17,718
Derivatives		12,258		—		12,258		—
Total	$	62,913	$	32,937	$	12,258	$	17,718

Reconciliation of Beginning and Ending Balances of Contingent Consideration Liability

The following table reconciles the beginning and ending balances of the contingent consideration liability for the six months ended June 30, 2016 and 2015 (in thousands):

	Six Months Ended June 30,
	2016			2015
Beginning balance	$	17,718		$	53,411
Payment of contingent consideration on acquisitions		(17,784	)		(18,702	)
Fair value adjustments		66			(3,418	)
Ending balance	$	—		$	31,291

Assets Measured at Fair Value on Non-Recurring Basis

Assets measured at fair value on a non-recurring basis as of June 30, 2016 and December 31, 2015 (in thousands):

	Fair Value Measurement at June 30, 2016 Using
Description	June 30, 2016		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 Six Months Ended June 30
Impaired loans	$	15,651	$	—	$	—	$	15,651	$	1,124
Other real estate owned		194		—		—		194		—
Total	$	15,845	$	—	$	—	$	15,845	$	1,124

	Fair Value Measurement at December 31, 2015 Using
Description	December 31, 2015		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	$	22,885	$	—	$	—	$	22,885	$	(3,957	)
Other real estate owned		3,269		—		—		3,269		—
Total	$	26,154	$	—	$	—	$	26,154	$	(3,957	)

Estimated Fair Value of Financial Instruments

The estimated fair value of the Company’s financial instruments at June 30, 2016 and December 31, 2015 are as follows (in millions):

	Fair Value Measurement at June 30, 2016 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
Cash and short-term investments	$	931.6	$	744.9	$	186.7	$	—	$	931.6
Securities available for sale		6,771.2		443.4		6,327.8		—		6,771.2
Securities held to maturity		880.6				991.7		—		991.7
Trading securities		56.3		28.2		28.1		—		56.3
Other securities		66.3				66.3		—		66.3
Loans (exclusive of allowance for loan loss)		10,093.8				10,196.5		—		10,196.5
Derivatives		23.7				23.7		—		23.7
FINANCIAL LIABILITIES
Demand and savings deposits		14,503.9		14,503.9				—		14,503.9
Time deposits		1,144.8				1,144.8		—		1,144.8
Other borrowings		1,793.6		247.9		1,545.7		—		1,793.6
Long-term debt		85.3				85.9		—		85.9
Derivatives		31.9				31.9		—		31.9
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										2.8
Commercial letters of credit										0.1
Standby letters of credit										1.2
	Fair Value Measurement at December 31, 2015 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
Cash and short-term investments	$	1,154.7	$	997.0	$	157.7	$	—	$	1,154.7
Securities available for sale		6,806.9		429.7		6,377.2		—		6,806.9
Securities held to maturity		667.1		—		691.4		—		691.4
Trading securities		29.6		18.1		11.5		—		29.6
Other securities		65.2		—		65.2		—		65.2
Loans (exclusive of allowance for loan loss)		9,431.3		—		9,452.1		—		9,452.1
Derivatives		12.3		—		12.3		—		12.3
FINANCIAL LIABILITIES
Demand and savings deposits		13,836.9		13,836.9		—		—		13,836.9
Time deposits		1,255.9		—		1,255.9		—		1,255.9
Other borrowings		1,823.1		66.9		1,756.2		—		1,823.1
Long-term debt		86.1		—		86.4		—		86.4
Derivatives		12.3		—		12.3		—		12.3
OFF-BALANCE SHEET ARRANGEMENTS
Commitments to extend credit for loans										4.9
Commercial letters of credit										0.3
Standby letters of credit										2.6

XML

Summary of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Due from the Federal Reserve Bank	$ 270,117		$ 521,685
Cash and due from banks	355,732	$ 458,217	490,171
Cash and cash equivalents at end of period	$ 625,849	$ 819,112	$ 1,011,856	$ 1,787,230

XML

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accounting Policies [Abstract]
Interest bearing amounts held at other financial institutions	$ 109.5	$ 177.3	$ 109.5	$ 177.3
Dilutive effect of common stock issuable upon exercise of options, shares	394,738	370,227	362,517	405,702
Anti-dilutive shares			637,331	495,366

XML

Loans and Allowance for Loan Losses - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	May 31, 2015
Financing Receivable, Allowance for Credit Losses [Line Items]
Carrying amount of loans	$ 2,222,000		$ 3,056,000
Proceeds from sales of loans held for sale	34,110,000	$ 58,054,000
Non- Accrual Loans	58,423,000		61,152,000
Loans modified as troubled debt restructurings	42,600,000		36,600,000
Total Past Due	91,852,000		87,778,000
Commitments to lend to borrowers with loan modifications classified as TDR's	18,000	293,000
Default payment of troubled restructuring, commercial real estate loan		$ 178,000
Greater than 90 days Past Due and Accruing [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	4,700,000		7,324,000
PCI loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans modified as troubled debt restructurings	0
PCI loans | Greater than 90 days Past Due and Accruing [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	1,019,000		$ 1,160,000
Loans Accounted for under ASC 310-30 [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Carrying amount of loans	2,200,000
Outstanding balance of loans	3,000,000
Marquette [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans purchased at fair value				$ 980,400,000
Marquette [Member] | Non-PCI loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans purchased at fair value				972,600,000
Contractually required principal and interest at acquisition	983,900,000
Marquette [Member] | PCI loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Loans purchased at fair value				$ 7,800,000
Contractually required principal and interest at acquisition	9,300,000
Marquette [Member] | Loans Accounted for under ASC 310-30 [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Carrying amount of loans	2,222,000
Outstanding balance of loans	$ 2,970,000
Revolving Commercial Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Number of days past due to consider loan as a loss and charged off	90 days
Closed-End Retail Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Number of days past due to consider loan as a loss and charged off	120 days
Open-End Retail Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Number of days past due to consider loan as a loss and charged off	180 days

XML

Schedule of Net Book Value for PCI Loans Accounted Under ASC 310-30 (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]
Loans accounted for under ASC 310-30	$ 2,222	$ 3,056
Loans Accounted for under ASC 310-30 [Member]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]
Contractual cash flows	3,000
Loans accounted for under ASC 310-30	2,200
Marquette [Member] | Loans Accounted for under ASC 310-30 [Member]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]
Contractual cash flows	2,970
Non-accretable difference	(647)
Accretable yield	(101)
Loans accounted for under ASC 310-30	$ 2,222

XML

Summary of Loan Classes and Aging of Past Due Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non- Accrual Loans	$ 58,423	$ 61,152
Total Past Due	91,852	87,778
PCI Loans	2,222	3,056
Current	9,989,192	9,339,927
Total Loans	10,083,266	9,430,761	$ 8,916,128
Real estate - residential [Member] | Prime [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non- Accrual Loans	537	800
Total Past Due	3,746	1,447
Current	474,892	490,780
Total Loans	478,638	492,227
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans	395,216		380,938
Leases [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current	36,577	41,857
Total Loans	36,577	41,857	$ 40,073
30-89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	28,729	19,302
30-89 Days Past Due [Member] | Real estate - residential [Member] | Prime [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	3,143	612
Greater than 90 days Past Due and Accruing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	4,700	7,324
Greater than 90 days Past Due and Accruing [Member] | Real estate - residential [Member] | Prime [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	66	35
PCI loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current	1,152	1,838
PCI loans | 30-89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	51	58
PCI loans | Greater than 90 days Past Due and Accruing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	1,019	1,160
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non- Accrual Loans	41,828	43,841
Total Past Due	51,374	52,485
Current	4,392,763	4,153,251
Total Loans	4,444,137	4,205,736
Commercial [Member] | 30-89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	8,753	5,821
Commercial [Member] | Greater than 90 days Past Due and Accruing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	793	2,823
Commercial - credit card [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non- Accrual Loans	19	13
Total Past Due	698	651
Current	144,661	124,710
Total Loans	145,359	125,361
Commercial - credit card [Member] | 30-89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	424	614
Commercial - credit card [Member] | Greater than 90 days Past Due and Accruing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	255	24
Construction [Member] | Real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non- Accrual Loans	311	331
Total Past Due	789	2,707
Current	530,987	413,861
Total Loans	531,776	416,568
Construction [Member] | 30-89 Days Past Due [Member] | Real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	478	1,828
Construction [Member] | Greater than 90 days Past Due and Accruing [Member] | Real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due		548
Real estate - commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non- Accrual Loans	9,375	9,578
Total Past Due	14,125	13,333
PCI Loans	992	1,055
Current	2,970,077	2,648,384
Total Loans	2,985,194	2,662,772
Real estate - commercial [Member] | 30-89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	4,750	2,125
Real estate - commercial [Member] | Greater than 90 days Past Due and Accruing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due		1,630
Real estate - commercial [Member] | PCI loans | Greater than 90 days Past Due and Accruing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	992	1,055
Real estate - HELOC [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non- Accrual Loans	3,389	3,524
Total Past Due	4,478	3,653
Current	737,225	726,310
Total Loans	741,703	729,963
Real estate - HELOC [Member] | 30-89 Days Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	1,089	129
Credit card [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non- Accrual Loans	313	468
Total Past Due	4,353	4,813
Current	266,000	286,757
Total Loans	270,353	291,570
Credit card [Member] | 30-89 Days Past Due [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	2,079	2,256
Credit card [Member] | Greater than 90 days Past Due and Accruing [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	1,961	2,089
Other [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non- Accrual Loans	2,651	2,597
Total Past Due	12,289	8,689
PCI Loans	1,230	2,001
Current	111,344	144,087
Total Loans	124,863	154,777
Other [Member] | 30-89 Days Past Due [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	8,013	5,917
Other [Member] | Greater than 90 days Past Due and Accruing [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	1,625	175
Other [Member] | PCI loans | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current	1,152	1,838
Other [Member] | PCI loans | 30-89 Days Past Due [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	51	58
Other [Member] | PCI loans | Greater than 90 days Past Due and Accruing [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Past Due	27	105
Asset-based [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current	223,339	219,244
Total Loans	223,339	219,244
Factoring [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current	101,327	90,686
Total Loans	$ 101,327	$ 90,686

XML

Credit Risk Profile by Risk Rating - Originated and Non-PCI Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	$ 10,083,266	$ 9,430,761	$ 8,916,128
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	4,444,137	4,205,736
Commercial [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	4,444,137	4,205,736
Commercial [Member] | Non-watch list [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	4,058,989	3,880,109
Commercial [Member] | Watch [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	161,686	105,539
Commercial [Member] | Special Mention [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	44,302	29,397
Commercial [Member] | Substandard [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	179,160	190,691
Asset-based [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	223,339	219,244
Asset-based [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	223,339	219,244
Asset-based [Member] | Non-watch list [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	195,329	198,903
Asset-based [Member] | Special Mention [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	22,409	18,163
Asset-based [Member] | Substandard [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	5,601	2,178
Factoring [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	101,327	90,686
Factoring [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	101,327	90,686
Factoring [Member] | Non-watch list [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	100,201	90,449
Factoring [Member] | Special Mention [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	341	237
Factoring [Member] | Substandard [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	785
Real estate - construction [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	531,776	416,568
Real estate - construction [Member] | Non-watch list [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	526,469	415,258
Real estate - construction [Member] | Watch [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	4,897	370
Real estate - construction [Member] | Substandard [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	410	940
Real estate - commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	2,985,194	2,662,772
Real estate - commercial [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	2,984,202	2,661,717
Real estate - commercial [Member] | Non-watch list [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	2,884,897	2,561,401
Real estate - commercial [Member] | Watch [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	44,388	51,774
Real estate - commercial [Member] | Special Mention [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	11,526	22,544
Real estate - commercial [Member] | Substandard [Member] | Originated and Non-PCI Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	$ 43,391	$ 25,998

XML

Credit Risk Profile Based on Payment Activity - Originated and Non-PCI Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	$ 10,083,266	$ 9,430,761	$ 8,916,128
Real estate - residential [Member] | Prime [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	478,638	492,227
Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	395,216		380,938
Leases [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	36,577	41,857	$ 40,073
Commercial - credit card [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	145,359	125,361
Real estate - HELOC [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	741,703	729,963
Credit card [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	270,353	291,570
Other [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	124,863	154,777
Originated and Non-PCI Loans [Member] | Real estate - residential [Member] | Prime [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	478,638	492,227
Originated and Non-PCI Loans [Member] | Leases [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	36,577	41,857
Originated and Non-PCI Loans [Member] | Commercial - credit card [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	145,359	125,361
Originated and Non-PCI Loans [Member] | Real estate - HELOC [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	741,703	729,963
Originated and Non-PCI Loans [Member] | Credit card [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	270,353	291,570
Originated and Non-PCI Loans [Member] | Other [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	123,633	154,777
Originated and Non-PCI Loans [Member] | Performing [Member] | Real estate - residential [Member] | Prime [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	478,101	491,427
Originated and Non-PCI Loans [Member] | Performing [Member] | Leases [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	36,577	41,857
Originated and Non-PCI Loans [Member] | Performing [Member] | Commercial - credit card [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	145,340	125,348
Originated and Non-PCI Loans [Member] | Performing [Member] | Real estate - HELOC [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	738,314	726,439
Originated and Non-PCI Loans [Member] | Performing [Member] | Credit card [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	270,040	291,102
Originated and Non-PCI Loans [Member] | Performing [Member] | Other [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	120,982	152,180
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Real estate - residential [Member] | Prime [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	537	800
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Commercial - credit card [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	19	13
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Real estate - HELOC [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	3,389	3,524
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Credit card [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	313	468
Originated and Non-PCI Loans [Member] | Non-performing [Member] | Other [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	$ 2,651	$ 2,597

XML

Credit Risk Profile by Risk Rating - Loans Accounted for under ASC 310-30 (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	$ 10,083,266	$ 9,430,761	$ 8,916,128
Real estate - commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	2,985,194	2,662,772
Real estate - commercial [Member] | Loans Accounted for under ASC 310-30 [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	992	1,055
Real estate - commercial [Member] | Substandard [Member] | Loans Accounted for under ASC 310-30 [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile by Risk Rating	$ 992	$ 1,055

XML

Credit Risk Profile Based on Payment Activity - Loans Accounted for under ASC 310-30 (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	$ 10,083,266	$ 9,430,761	$ 8,916,128
Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	395,216		$ 380,938
Other [Member] | Consumer [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	124,863	154,777
Other [Member] | Consumer [Member] | Loans Accounted for under ASC 310-30 [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	1,230	2,001
Other [Member] | Performing [Member] | Consumer [Member] | Loans Accounted for under ASC 310-30 [Member]
Financing Receivable, Recorded Investment [Line Items]
Credit Risk Profile Based on Payment Activity	$ 1,230	$ 2,001

XML

Rollforward of Allowance for Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 80,398	$ 77,479	$ 81,143	$ 76,140
Charge-offs	(4,252)	(5,602)	(13,287)	(8,750)
Recoveries	1,520	844	4,810	2,331
Provision	7,000	5,000	12,000	8,000
Ending balance	84,666	77,721	84,666	77,721
Ending balance: individually evaluated for impairment	4,740	1,561	4,740	1,561	$ 5,864
Ending balance: collectively evaluated for impairment	79,926	76,160	79,926	76,160
Total Loans	10,083,266	8,916,128	10,083,266	8,916,128	9,430,761
Ending balance: individually evaluated for impairment	67,186	43,171	67,186	43,171
Ending balance: collectively evaluated for impairment	10,013,858	8,865,265	10,013,858	8,865,265
Ending balance: PCI Loans	2,222	7,692	2,222	7,692
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	61,308	55,659	63,847	55,349
Charge-offs	(800)	(3,088)	(5,875)	(3,500)
Recoveries	859	89	3,348	899
Provision	3,194	6,718	3,241	6,630
Ending balance	64,561	59,378	64,561	59,378
Ending balance: individually evaluated for impairment	4,714	1,266	4,714	1,266
Ending balance: collectively evaluated for impairment	59,847	58,112	59,847	58,112
Total Loans	4,914,162	4,579,611	4,914,162	4,579,611
Ending balance: individually evaluated for impairment	58,270	32,818	58,270	32,818
Ending balance: collectively evaluated for impairment	4,855,892	4,544,303	4,855,892	4,544,303
Ending balance: PCI Loans		2,490		2,490
Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	9,909	11,912	8,220	10,725
Charge-offs	(1,351)	(68)	(2,796)	(100)
Recoveries	187	77	331	92
Provision	1,938	(3,029)	4,928	(1,825)
Ending balance	10,683	8,892	10,683	8,892
Ending balance: individually evaluated for impairment	26	295	26	295
Ending balance: collectively evaluated for impairment	10,657	8,597	10,657	8,597
Total Loans	4,737,311	3,915,506	4,737,311	3,915,506
Ending balance: individually evaluated for impairment	6,338	9,113	6,338	9,113
Ending balance: collectively evaluated for impairment	4,729,981	3,903,880	4,729,981	3,903,880
Ending balance: PCI Loans	992	2,513	992	2,513
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	9,060	9,780	8,949	9,921
Charge-offs	(2,101)	(2,446)	(4,616)	(5,150)
Recoveries	474	678	1,131	1,340
Provision	1,886	1,276	3,855	3,177
Ending balance	9,319	9,288	9,319	9,288
Ending balance: collectively evaluated for impairment	9,319	9,288	9,319	9,288
Total Loans	395,216	380,938	395,216	380,938
Ending balance: individually evaluated for impairment	2,578	1,240	2,578	1,240
Ending balance: collectively evaluated for impairment	391,408	377,009	391,408	377,009
Ending balance: PCI Loans	1,230	2,689	1,230	2,689
Leases [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	121	128	127	145
Provision	(18)	35	(24)	18
Ending balance	103	163	103	163
Ending balance: collectively evaluated for impairment	103	163	103	163
Total Loans	36,577	40,073	36,577	40,073	$ 41,857
Ending balance: collectively evaluated for impairment	$ 36,577	$ 40,073	$ 36,577	$ 40,073

XML

Analysis of Impaired Loans by Class (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	$ 75,751	$ 84,480
Recorded Investment with No Allowance	46,795	49,576
Recorded Investment with Allowance	20,391	28,749
Total Recorded Investment	67,186	78,325
Related Allowance	4,740	5,864	$ 1,561
Average Recorded Investment	73,956	53,354
Real estate - residential [Member] | Prime [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	364	1,054
Recorded Investment with No Allowance	282	939
Total Recorded Investment	282	939
Average Recorded Investment	707	1,433
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	64,008	72,739
Recorded Investment with No Allowance	37,994	40,648
Recorded Investment with Allowance	20,276	27,356
Total Recorded Investment	58,270	68,004
Related Allowance	4,714	5,668
Average Recorded Investment	64,586	41,394
Construction [Member] | Real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	962	782
Recorded Investment with No Allowance	311	331
Recorded Investment with Allowance	115	118
Total Recorded Investment	426	449
Related Allowance	26	42
Average Recorded Investment	437	802
Real estate - commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	7,839	7,117
Recorded Investment with No Allowance	5,630	4,891
Recorded Investment with Allowance		1,275
Total Recorded Investment	5,630	6,166
Related Allowance		154
Average Recorded Investment	5,512	7,768
Real estate - HELOC [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance		214
Recorded Investment with No Allowance		193
Total Recorded Investment		193
Average Recorded Investment	132	162
Other [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	2,578	2,574
Recorded Investment with No Allowance	2,578	2,574
Total Recorded Investment	2,578	2,574
Average Recorded Investment	$ 2,582	$ 1,795

XML

Summary of Loans Restructured by Class (Detail) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015 USD ($) Contract	Jun. 30, 2016 USD ($) Contract	Jun. 30, 2015 USD ($) Contract
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	15	2	15
Pre-Modification Outstanding Recorded Investment	$ 19,584	$ 12,056	$ 19,584
Post-Modification Outstanding Recorded Investment	$ 19,584	$ 12,056	$ 19,584
Commercial [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	14	2	14
Pre-Modification Outstanding Recorded Investment	$ 19,463	$ 12,056	$ 19,463
Post-Modification Outstanding Recorded Investment	$ 19,463	$ 12,056	$ 19,463
Real Estate Loan [Member]
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	1		1
Pre-Modification Outstanding Recorded Investment	$ 121		$ 121
Post-Modification Outstanding Recorded Investment	$ 121		$ 121

XML

Securities Available for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	$ 6,675,155	$ 6,813,011
Securities available for sale, Gross Unrealized Gains	103,299	36,393
Securities available for sale, Gross Unrealized Losses	(7,275)	(42,455)
Total securities available for sale, Fair Value	6,771,179	6,806,949
U.S. Treasury
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	362,766	350,354
Securities available for sale, Gross Unrealized Gains	576	1
Securities available for sale, Gross Unrealized Losses	(5)	(576)
Total securities available for sale, Fair Value	363,337	349,779
U.S. Agencies
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	421,149	667,414
Securities available for sale, Gross Unrealized Gains	507	7
Securities available for sale, Gross Unrealized Losses	(31)	(1,032)
Total securities available for sale, Fair Value	421,625	666,389
Mortgage-backed [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	3,553,661	3,598,115
Securities available for sale, Gross Unrealized Gains	53,444	12,420
Securities available for sale, Gross Unrealized Losses	(6,930)	(38,089)
Total securities available for sale, Fair Value	3,600,175	3,572,446
State and political subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	2,257,535	2,116,543
Securities available for sale, Gross Unrealized Gains	48,687	23,965
Securities available for sale, Gross Unrealized Losses	(243)	(2,095)
Total securities available for sale, Fair Value	2,305,979	2,138,413
Corporates [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities available for sale, Amortized Cost	80,044	80,585
Securities available for sale, Gross Unrealized Gains	85
Securities available for sale, Gross Unrealized Losses	(66)	(663)
Total securities available for sale, Fair Value	$ 80,063	$ 79,922

XML

Summary of Contractual Maturity Information for Securities Available for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Due in 1 year or less, Amortized Cost	$ 931,783
Due after 1 year through 5 years, Amortized Cost	1,118,929
Due after 5 years through 10 years, Amortized Cost	861,965
Due after 10 years, Amortized Cost	208,817
Total, Amortized Cost	3,121,494
Mortgage-backed securities, Amortized Cost	3,553,661
Securities available for sale, Amortized Cost	6,675,155	$ 6,813,011
Due in 1 year or less, Fair Value	932,836
Due after 1 year through 5 years, Fair Value	1,136,979
Due after 5 years through 10 years, Fair Value	887,760
Due after 10 years, Fair Value	213,429
Total, Fair Value	3,171,004
Mortgage-backed securities, Fair Value	3,600,175
Total securities available for sale, Fair Value	$ 6,771,179	$ 6,806,949

XML

Securities - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Schedule of Trading Securities and Other Trading Assets [Line Items]
Proceeds from sales of securities available for sale	$ 598,740,000	$ 705,238,000
Gross realized gains from securities	5,500,000	8,400,000
Gross realized losses from securities		48,000
Sales of securities held to maturity	0	0
Unrealized gains on trading securities	93,000	$ 156,000
Fair value of other marketable securities	8,000,000		$ 7,200,000
Fair value of other non-marketable securities	1,900,000		2,000,000
U.S. Government and Other Public Deposit [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Pledged securities for deposits	5,500,000,000		5,900,000,000
Federal Reserve Discount Window [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Pledged securities for deposits	$ 1,500,000,000		$ 1,600,000,000

XML

Gross Unrealized Losses and Fair Value of Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	$ 395,084	$ 3,525,188
Less than 12 months, Unrealized Losses	(963)	(24,120)
12 months or more, Fair Value	365,254	538,079
12 months or more, Unrealized Losses	(6,312)	(18,335)
Total Fair Value	760,338	4,063,267
Total Unrealized Losses	(7,275)	(42,455)
U.S. Treasury
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	5,025	344,556
Less than 12 months, Unrealized Losses	(5)	(576)
Total Fair Value	5,025	344,556
Total Unrealized Losses	(5)	(576)
U.S. Agencies
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	45,635	615,993
Less than 12 months, Unrealized Losses	(24)	(1,032)
12 months or more, Fair Value	3,036
12 months or more, Unrealized Losses	(7)
Total Fair Value	48,671	615,993
Total Unrealized Losses	(31)	(1,032)
Mortgage-backed [Member]
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	204,221	2,056,316
Less than 12 months, Unrealized Losses	(744)	(21,013)
12 months or more, Fair Value	312,994	426,959
12 months or more, Unrealized Losses	(6,186)	(17,076)
Total Fair Value	517,215	2,483,275
Total Unrealized Losses	(6,930)	(38,089)
State and political subdivisions [Member]
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	131,455	479,197
Less than 12 months, Unrealized Losses	(188)	(1,316)
12 months or more, Fair Value	10,155	60,324
12 months or more, Unrealized Losses	(55)	(779)
Total Fair Value	141,610	539,521
Total Unrealized Losses	(243)	(2,095)
Corporates [Member]
Gain (Loss) on Investments [Line Items]
Less than 12 months, Fair Value	8,748	29,126
Less than 12 months, Unrealized Losses	(2)	(183)
12 months or more, Fair Value	39,069	50,796
12 months or more, Unrealized Losses	(64)	(480)
Total Fair Value	47,817	79,922
Total Unrealized Losses	$ (66)	$ (663)

XML

Securities Held to Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Held to Maturity, Amortized Cost	$ 880,600	$ 667,106
Held to Maturity, Net Unrealized Gains	111,115	24,273
Held to Maturity, Fair value	$ 991,715	$ 691,379

XML

Contractual Maturity Information for Securities Held to Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Due in 1 year or less, Amortized Cost	$ 16,268
Due after 1 year through 5 years, Amortized Cost	76,310
Due after 5 years through 10 years, Amortized Cost	481,148
Due after 10 years, Amortized Cost	306,874
Held to Maturity, Amortized Cost	880,600	$ 667,106
Due in 1 year or less, Fair Value	18,321
Due after 1 year through 5 years, Fair Value	85,939
Due after 5 years through 10 years, Fair Value	541,859
Due after 10 years, Fair Value	345,596
Total securities held to maturity, Fair Value	$ 991,715	$ 691,379

XML

Schedule of Federal Reserve Bank Stock and Federal Home Loan Bank Stock and Other Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Other Securities [Line Items]
Fair Value	$ 66,300	$ 65,200
Federal Reserve Bank Stock and Other Securities [Member]
Schedule of Other Securities [Line Items]
Amortized Cost	57,645	57,075
Gross Unrealized Gains	8,681	8,123
Gross Unrealized Losses	(26)
Fair Value	66,300	65,198
Federal Reserve Bank Stock and Other Securities [Member] | Other securities - non-marketable [Member]
Schedule of Other Securities [Line Items]
Amortized Cost	23,974	23,855
Gross Unrealized Gains	730	964
Gross Unrealized Losses	(26)
Fair Value	24,678	24,819
Federal Reserve Bank Stock and Other Securities [Member] | Other securities - marketable [Member]
Schedule of Other Securities [Line Items]
Amortized Cost	4	5
Gross Unrealized Gains	7,951	7,159
Fair Value	7,955	7,164
Federal Reserve Bank Stock and Other Securities [Member] | FRB and FHLB stock [Member]
Schedule of Other Securities [Line Items]
Amortized Cost	33,667	33,215
Fair Value	$ 33,667	$ 33,215

XML

Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Goodwill And Other Intangible Assets [Line Items]
Beginning Balance	$ 228,346	$ 209,758
Acquisition of Marquette	50	18,588
Ending Balance	228,396	228,346
Bank [Member]
Goodwill And Other Intangible Assets [Line Items]
Beginning Balance	161,341	142,753
Acquisition of Marquette	50	18,588
Ending Balance	161,391	161,341
Institutional Investment Management [Member]
Goodwill And Other Intangible Assets [Line Items]
Beginning Balance	47,529	47,529
Ending Balance	47,529	47,529
Asset Servicing [Member]
Goodwill And Other Intangible Assets [Line Items]
Beginning Balance	19,476	19,476
Ending Balance	$ 19,476	$ 19,476

XML

Changes In Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 159,185	$ 159,185
Accumulated Amortization	118,774	112,403
Net Carrying Amount	40,411	46,782
Core deposit intangible assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	47,527	36,497
Accumulated Amortization	37,371	33,613
Net Carrying Amount	10,156	2,884
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	107,460	104,560
Accumulated Amortization	77,933	73,496
Net Carrying Amount	29,527	31,064
Other intangible assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,198	3,247
Accumulated Amortization	3,470	2,841
Net Carrying Amount	$ 728	406
Core deposit intangible-Marquette Acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		11,030
Accumulated Amortization		1,838
Net Carrying Amount		9,192
Customer relationships - Marquette Acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		2,900
Accumulated Amortization		338
Net Carrying Amount		2,562
Other intangible assets - Marquette Acquisition [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		951
Accumulated Amortization		277
Net Carrying Amount		$ 674

XML

Aggregate Amortization Expense Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Aggregate amortization expense	$ 3,145	$ 2,569	$ 6,371	$ 5,324

XML

Estimated Amortization Expense of Intangible Assets (Detail) $ in Thousands	Jun. 30, 2016 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
For the six months ending December 31, 2016	$ 5,920
For the year ending December 31, 2017	10,180
For the year ending December 31, 2018	7,202
For the year ending December 31, 2019	5,822
For the year ending December 31, 2020	4,487
For the year ending December 31, 2021	$ 3,101

XML

Remaining Contractual Maturities Of Repurchase Agreements (Detail) $ in Thousands	Jun. 30, 2016 USD ($)
Assets Sold under Agreements to Repurchase [Line Items]
Total repurchase agreements	$ 1,540,650
U.S. Treasury
Assets Sold under Agreements to Repurchase [Line Items]
Total repurchase agreements	296,222
U.S. Agencies
Assets Sold under Agreements to Repurchase [Line Items]
Total repurchase agreements	1,244,428
Maturity Overnight and Continuous
Assets Sold under Agreements to Repurchase [Line Items]
Total repurchase agreements	1,537,550
Maturity Overnight and Continuous | U.S. Treasury
Assets Sold under Agreements to Repurchase [Line Items]
Total repurchase agreements	296,222
Maturity Overnight and Continuous | U.S. Agencies
Assets Sold under Agreements to Repurchase [Line Items]
Total repurchase agreements	1,241,328
Over 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Total repurchase agreements	3,100
Over 90 Days [Member] | U.S. Agencies
Assets Sold under Agreements to Repurchase [Line Items]
Total repurchase agreements	$ 3,100

XML

Business Segment Reporting - Additional Information (Detail) - Segment	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Segment Reporting [Abstract]
Number of reportable segments	3	4

XML

Schedule of Segment Financial Results (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net interest income	$ 121,210	$ 97,360	$ 239,102	$ 187,718
Provision for loan losses	7,000	5,000	12,000	8,000
Noninterest income	121,447	119,550	237,797	244,757
Noninterest expense	185,243	171,964	365,987	336,377
Income before income taxes	50,414	39,946	98,912	88,098
Income tax expense	13,117	9,732	25,370	24,119
Net Income	37,297	30,214	73,542	63,979
Average assets	19,436,000	17,413,000	19,385,000	17,124,000
Bank [Member]
Segment Reporting Information [Line Items]
Net interest income	118,613	96,403	233,885	185,764
Provision for loan losses	7,000	5,000	12,000	8,000
Noninterest income	80,044	70,840	155,483	145,529
Noninterest expense	145,736	133,617	289,104	258,796
Income before income taxes	45,921	28,626	88,264	64,497
Income tax expense	11,939	7,017	22,643	17,732
Net Income	33,982	21,609	65,621	46,765
Average assets	18,170,000	16,384,000	18,027,000	16,101,000
Institutional Investment Management [Member]
Segment Reporting Information [Line Items]
Noninterest income	19,127	25,685	37,542	52,769
Noninterest expense	18,858	18,302	36,088	36,262
Income before income taxes	269	7,383	1,454	16,507
Income tax expense	77	1,747	367	4,497
Net Income	192	5,636	1,087	12,010
Average assets	61,000	71,000	62,000	73,000
Asset Servicing [Member]
Segment Reporting Information [Line Items]
Net interest income	2,597	957	5,217	1,954
Noninterest income	22,276	23,025	44,772	46,459
Noninterest expense	20,649	20,045	40,795	41,319
Income before income taxes	4,224	3,937	9,194	7,094
Income tax expense	1,101	968	2,360	1,890
Net Income	3,123	2,969	6,834	5,204
Average assets	$ 1,205,000	$ 958,000	$ 1,296,000	$ 950,000

XML

Acquisitions - Additional Information (Detail) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	May 31, 2015 USD ($) Branch shares	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	May 29, 2015 $ / shares
Business Acquisition [Line Items]
Salaries and employee benefits		$ 108,897	$ 99,585	$ 216,047	$ 198,122
Legal and consulting		$ 4,937	$ 5,917	9,736	$ 10,295
Marquette [Member]
Business Acquisition [Line Items]
Percentage of outstanding common shares acquired in the acquisition	100.00%
Conversion of Company's common stock due to merger | shares	9.2295
Company's common shares issued | shares	3,470,000
Market value common stock issued	$ 179,700
Closing stock price | $ / shares						$ 51.79
Loans purchased at fair value	980,400
Long-term debt	89,971
Fair value of acquired identifiable intangible assets	14,900
Acquisition-related costs				4,000
Salaries and employee benefits				880
Legal and consulting				$ 1,600
Marquette [Member] | Core deposit intangible assets [Member]
Business Acquisition [Line Items]
Fair value of acquired identifiable intangible assets	11,000
Marquette [Member] | Customer Lists [Member]
Business Acquisition [Line Items]
Fair value of acquired identifiable intangible assets	2,900
Marquette [Member] | Noncompete Agreements [Member]
Business Acquisition [Line Items]
Fair value of acquired identifiable intangible assets	1,000
Marquette [Member] | Marquette Capital Trust I, Marquette Capital Trust II, Marquette Capital Trust III And Marquette Capital Trust IV [Member]
Business Acquisition [Line Items]
Long-term debt	103,100
Long-term debt acquired at fair value	$ 65,500
Marquette [Member] | Trust Preferred Securities [Member] | Marquette Capital Trust I, Marquette Capital Trust III And Marquette Capital Trust IV [Member]
Business Acquisition [Line Items]
Interest rate description of trust preferred securities				LIBOR rate with spreads ranging from 133 basis points
Minimum [Member] | Marquette [Member] | Trust Preferred Securities [Member] | Marquette Capital Trust I, Marquette Capital Trust III And Marquette Capital Trust IV [Member]
Business Acquisition [Line Items]
Interest rate of trust preferred securities	1.33%
Maximum [Member] | Marquette [Member] | Trust Preferred Securities [Member] | Marquette Capital Trust I, Marquette Capital Trust III And Marquette Capital Trust IV [Member]
Business Acquisition [Line Items]
Interest rate of trust preferred securities	1.60%
Commercial Specialty Lending Business [Member] | Marquette [Member]
Business Acquisition [Line Items]
Number of branches | Branch	2
Arizona And Texas [Member] | Marquette [Member]
Business Acquisition [Line Items]
Number of branches | Branch	13

XML

Summary of Net Assets Acquired (at Fair Value) and Consideration Transferred (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	May 31, 2015	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Total assets acquired				$ 1,321,322
Total liabilities assumed				$ 1,160,044
Goodwill acquired		$ 228,396	$ 228,346		$ 209,758
Marquette [Member]
Business Acquisition [Line Items]
Loans	$ 980,404
Investment securities	177,694
Cash and due from banks	95,351
Premises and equipment, net	11,508
Identifiable intangible assets	14,881
Other assets	32,336
Total assets acquired	1,312,174
Noninterest-bearing deposits	226,161
Interest-bearing deposits	708,675
Short-term debt	112,133
Long-term debt	89,971
Other liabilities	14,135
Total liabilities assumed	1,151,075
Net identifiable assets acquired	161,099
Goodwill acquired	18,638
Net assets acquired	$ 179,737
Company's common shares issued	3,470
Purchase price per share of the Company's common stock	$ 51.79
Fair value of total consideration transferred	$ 179,737

XML

Notional Amount of Off-Balance Sheet Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
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	$ 6,406,215	$ 6,671,794
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	2,729,837	2,986,581
Commercial letters of credit [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	6,024	11,541
Standby letters of credit [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	382,448	360,468
Futures contracts [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	1,300
Forward foreign exchange contracts [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	64,536	75,611
Spot foreign exchange contracts [Member]
Commitments and Contingencies Disclosure [Line Items]
Contract or notional amount of off-balance sheet financial instruments	$ 6,350	$ 10,391

XML

Summary of Fair Value of Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair value	$ 23,745	$ 12,303
Liability Derivatives, Fair value	31,858	12,258
Derivatives not Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair value	23,199	11,700
Liability Derivatives, Fair value	24,212	11,921
Derivatives Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair value	546	603
Liability Derivatives, Fair value	$ 7,646	$ 337

XML

Derivatives and Hedging Activities - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2016 USD ($) Derivative	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($) Derivative	Jun. 30, 2015 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Termination value of derivatives in net liability position	$ 32,100,000		$ 32,100,000
Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effective portion of change in fair value of cash flow hedges	(2,894,000)		$ (7,034,000)
Interest rate hedging exposure to variability in future cash flows for forecasted transactions, maximum period			20 years 3 months
Interest Rate Swap [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of interest rate swaps	$ 51,500,000		$ 51,500,000
Number of interest rate swaps | Derivative	2		2
Interest Rate Swap [Member] | Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of interest rate swaps	$ 15,900,000		$ 15,900,000
Number of interest rate swaps | Derivative	2		2
Interest Rate Swap [Member] | Derivatives not Designated as Hedging Instruments [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of interest rate swaps	$ 574,200,000		$ 574,200,000
Number of interest rate swaps | Derivative	48		48
Gain (Loss) related to changes in fair value of swaps	$ (440,000)	$ 20,000	$ (792,000)	$ (86,000)
Interest Rate Products [Member] | Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) related to changes in fair value of swaps	(1,000)	7,000	(2,000)	2,000
Interest Rate Products [Member] | Derivatives Designated as Hedging Instruments [Member] | Cash Flow Hedging [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Effective portion of change in fair value of cash flow hedges	(2,894,000)		(7,034,000)
Interest Rate Products [Member] | Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) related to changes in fair value of swaps	137,000	(114,000)	329,000	(4,000)
Interest Rate Products [Member] | Derivatives not Designated as Hedging Instruments [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) related to changes in fair value of swaps	$ (440,000)	$ 20,000	$ (792,000)	$ (86,000)

XML

Summary of Amount of Gain or Loss Recognized in Other Non-Interest Expense in Consolidated Statements of Income Related to Derivative Assets and Liabilities (Detail) - Interest Rate Products [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivatives not Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	$ (440)	$ 20	$ (792)	$ (86)
Derivatives Designated as Hedging Instruments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	(1)	7	(2)	2
Derivatives Designated as Hedging Instruments [Member] | Fair value adjustments on derivatives [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	(138)	121	(331)	6
Derivatives Designated as Hedging Instruments [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	$ 137	$ (114)	$ 329	$ (4)

XML

Summary of Amount of Gain or Loss Recognized in AOCI in Consolidated Statements of Comprehensive Income Related to Company's Derivative Assets and Liabilities (Detail) - Derivatives Designated as Hedging Instruments [Member] - Cash Flow Hedging [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Recognized in other Comprehensive Income on Derivatives (Effective Portion)	$ (2,894)	$ (7,034)
Interest Rate Products [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Recognized in other Comprehensive Income on Derivatives (Effective Portion)	$ (2,894)	$ (7,034)

XML

Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	$ 56,311	$ 29,617
Available for sale securities	6,771,179	6,806,949
Derivatives	23,745	12,303
Contingent consideration liability		17,718	$ 31,291	$ 53,411
Derivatives	31,858	12,258
U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	363,337	349,779
U.S. Agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	421,625	666,389
State and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	2,305,979	2,138,413
Mortgage-backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	3,600,175	3,572,446
Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	80,063	79,922
Fair Value Measurement, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	56,311	29,617
Available for sale securities	6,771,179	6,806,949
Company-owned life insurance	36,479	31,205
Bank-owned life insurance	206,508	202,991
Derivatives	23,745	12,303
Total	7,094,222	7,083,065
Deferred compensation	37,715	32,937
Contingent consideration liability		17,718
Derivatives	31,858	12,258
Total	69,573	62,913
Fair Value Measurement, Recurring [Member] | Trading - other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	27,907	17,708
Fair Value Measurement, Recurring [Member] | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	400	400
Available for sale securities	363,337	349,779
Fair Value Measurement, Recurring [Member] | U.S. Agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	2,351	1,309
Available for sale securities	421,625	666,389
Fair Value Measurement, Recurring [Member] | State and political subdivisions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	19,084	10,200
Available for sale securities	2,305,979	2,138,413
Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	6,569
Available for sale securities	3,600,175	3,572,446
Fair Value Measurement, Recurring [Member] | Corporates [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	80,063	79,922
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	28,200	18,100
Available for sale securities	443,400	429,700
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	28,190	18,108
Available for sale securities	443,400	429,701
Total	471,590	447,809
Deferred compensation	37,715	32,937
Total	37,715	32,937
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 and Nonrecurring Basis [Line Items]
Trading securities	27,790	17,708
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	400	400
Available for sale securities	363,337	349,779
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 and Nonrecurring Basis [Line Items]
Available for sale securities	80,063	79,922
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	28,100	11,500
Available for sale securities	6,327,800	6,377,200
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	28,121	11,509
Available for sale securities	6,327,779	6,377,248
Company-owned life insurance	36,479	31,205
Bank-owned life insurance	206,508	202,991
Derivatives	23,745	12,303
Total	6,622,632	6,635,256
Derivatives	31,858	12,258
Total	31,858	12,258
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | Trading - other [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	117
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | U.S. Agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	2,351	1,309
Available for sale securities	421,625	666,389
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 and Nonrecurring Basis [Line Items]
Trading securities	19,084	10,200
Available for sale securities	2,305,979	2,138,413
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurement, Recurring [Member] | Mortgage-backed [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	6,569
Available for sale securities	$ 3,600,175	3,572,446
Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurement, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability		17,718
Total		$ 17,718

XML

Reconciliation of Beginning and Ending Balances of Contingent Consideration Liability (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Beginning balance	$ 17,718	$ 53,411
Payment of contingent consideration on acquisitions	(17,784)	(18,702)
Fair value adjustments	$ 66	(3,418)
Ending balance		$ 31,291

XML

Assets Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value, Measurements, Non-Recurring [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 15,845	$ 26,154
Total Gains (Losses) Recognized	1,124	(3,957)
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	15,845	26,154
Impaired loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	15,651	22,885
Total Gains (Losses) Recognized	1,124	(3,957)
Impaired loans [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	15,651	22,885
Other real estate owned [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	194	3,269
Other real estate owned [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value	$ 194	$ 3,269

XML

Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and short-term investments	$ 931,600	$ 1,154,700
Securities available for sale	6,771,179	6,806,949
Securities held to maturity	880,600	667,106
Trading securities	56,311	29,617
Other securities	66,300	65,200
Loans (exclusive of allowance for loan loss)	10,093,800	9,431,300
Derivatives	23,700	12,300
Demand and savings deposits	14,503,900	13,836,900
Time deposits	1,144,800	1,255,900
Other borrowings	1,793,600	1,823,100
Long-term debt	85,320	86,070
Derivatives	31,900	12,300
Total Estimated Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and short-term investments	931,600	1,154,700
Securities available for sale	6,771,200	6,806,900
Securities held to maturity	991,700	691,400
Trading securities	56,300	29,600
Other securities	66,300	65,200
Loans (exclusive of allowance for loan loss)	10,196,500	9,452,100
Derivatives	23,700	12,300
Demand and savings deposits	14,503,900	13,836,900
Time deposits	1,144,800	1,255,900
Other borrowings	1,793,600	1,823,100
Long-term debt	85,900	86,400
Derivatives	31,900	12,300
Commitments to extend credit for loans	2,800	4,900
Commercial letters of credit	100	300
Standby letters of credit	1,200	2,600
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and short-term investments	744,900	997,000
Securities available for sale	443,400	429,700
Trading securities	28,200	18,100
Demand and savings deposits	14,503,900	13,836,900
Other borrowings	247,900	66,900
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and short-term investments	186,700	157,700
Securities available for sale	6,327,800	6,377,200
Securities held to maturity	991,700	691,400
Trading securities	28,100	11,500
Other securities	66,300	65,200
Loans (exclusive of allowance for loan loss)	10,196,500	9,452,100
Derivatives	23,700	12,300
Time deposits	1,144,800	1,255,900
Other borrowings	1,545,700	1,756,200
Long-term debt	85,900	86,400
Derivatives	$ 31,900	$ 12,300