8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): 7/24/2018

UMB FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Commission File Number: 001-38481

MO	43-0903811
(State or other jurisdiction of	(IRS Employer
incorporation)	Identification No.)

1010 Grand Blvd., Kansas City, MO 64106

(Address of principal executive offices, including zip code)

(816) 860-7000

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13c-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02 Results of Operations and Financial Condition

On July 24, 2018, UMB Financial Corporation (the “Company”) issued a press release announcing the financial results for the Company for the quarter and period ended June 30, 2018. A copy of the press release is attached as Exhibit 99.1.

The information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished and shall not be deemed to be “filed” with the Securities and Exchange Commission (“SEC”) for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section and are not incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to this Current Report on Form 8-K in such a filing.

Item 7.01 Regulation FD Disclosure

On July 24, 2018, the Company announced in the same press release that the Board of Directors of the Company (the “Board”) had declared a quarterly dividend of $0.29 per share that is payable on October 1, 2018 to shareholders of record of the Company as of the close of business on September 10, 2018. This press release is attached as Exhibit 99.1, and the information included in the press release is hereby incorporated herein by reference.

The Company is furnishing a copy of materials that will be used in the Company’s shareholder conference call on July 25, 2018 beginning at 9:30 a.m. (CT). A copy of the materials is attached as Exhibit 99.2 and will also be available on the Company’s website at www.umb.com. The materials are dated July 24, 2018, and the Company disclaims any obligation to correct or update any of the materials in the future, except as required by applicable securities laws.

The information provided under Item 7.01 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 hereto, is being furnished and is not deemed to be “filed” with the SEC for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section and are not incorporated by reference into any filing of the Company under the Securities Act or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to this Current Report on Form 8-K in such a filing.

Item 9.01 Financial Statements and Exhibits

Exhibit 99.1	Press Release announcing financial results for quarter and period ended June 30, 2018, and announcing dividend declaration.
Exhibit 99.2	Investor Presentation Materials, dated July 24, 2018.

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
By:	/s/ Ram Shankar
	Ram Shankar
	Chief Financial Officer

Date: July 24, 2018

EX-99.1

Exhibit 99.1

UMB Financial Corporation 1010 Grand Boulevard Kansas City, MO 64106 816.860.7000 umb.com	News Release

//FOR IMMEDIATE RELEASE//

Media Contact: Stephanie Hague: 816.860.5088

Investor Relations Contact: Kay Gregory: 816.860.7106

UMB Financial Corporation Reports Second Quarter Income from Continuing Operations

of $55.4 Million or $1.11 per Diluted Share

KANSAS CITY, Mo. (July 24, 2018) — UMB Financial Corporation (Nasdaq: UMBF), a financial holding company, announced income from continuing operations for the second quarter 2018 of $55.4 million, or $1.11 per diluted share, compared to $57.5 million, or $1.15 per diluted share in the first quarter 2018 (linked quarter) and $44.8 million, or $0.90 per diluted share, in the second quarter 2017. The reported GAAP income from continuing operations represents a decrease of 3.7 percent on a linked-quarter basis and an increase of 23.8 percent compared to the second quarter 2017.

Net operating income from continuing operations, a non-GAAP financial measure reconciled to income from continuing operations, the nearest comparable GAAP measure, later in this release, was $56.1 million, or $1.12 per diluted share for the second quarter 2018, compared to $59.1 million, or $1.18 per diluted share, for the linked quarter and $44.9 million, or $0.90 per diluted share, for the second quarter 2017. These results represent a decrease of 5.1 percent on a linked-quarter basis and an increase of 24.8 percent compared to the second quarter 2017.

Summary of quarterly financial results	UMB Financial Corporation
(unaudited, dollars in thousands, except per share data)
	Q2 2018			Q1 2018			Q2 2017
Income from continuing operations	$	55,424		$	57,533		$	44,771
Loss from discontinued operations		—			(747	)		(1,950	)
Net income		55,424			56,786			42,821
Earnings per share from continuing operations (diluted)		1.11			1.15			0.90
Losses per share from discontinued operations (diluted)		—			(0.01	)		(0.04	)
Earnings per share (diluted)		1.11			1.14			0.86
Net operating income from continuing operations		56,079			59,062			44,948
Operating earnings per share from continuing operations (diluted)		1.12			1.18			0.90
GAAP — continuing operations
Return on average assets		1.08	%		1.12	%		0.88	%
Return on average equity		10.18			10.80			8.69
Efficiency ratio		70.21			68.82			71.02
Non-GAAP — continuing operations
Operating return on average assets		1.09	%		1.15	%		0.89	%
Operating return on average equity		10.30			11.09			8.72
Operating efficiency ratio		69.88			68.04			70.91

Summary of year-to-date financial results	UMB Financial Corporation
(unaudited, dollars in thousands, except per share data)	June YTD 2018			June YTD 2017
Income from continuing operations	$	112,957		$	86,747
(Loss) income from discontinued operations		(747	)		255
Net income		112,210			87,002
Earnings per share from continuing operations (diluted)		2.26			1.74
(Losses) earnings per share from discontinued operations (diluted)		(0.01	)		0.01
Earnings per share (diluted)		2.25			1.75
Net operating income from continuing operations		115,141			87,228
Operating earnings per share from continuing operations (diluted)		2.30			1.75
GAAP — continuing operations
Return on average assets		1.10	%		0.86	%
Return on average equity		10.49			8.64
Efficiency ratio		69.51			71.77
Non-GAAP — continuing operations
Operating return on average assets		1.12	%		0.87	%
Operating return on average equity		10.69			8.68
Operating efficiency ratio		68.95			71.61

“Highlights for the second quarter included 5.8 percent growth in our loan portfolio, continued positive operating leverage, and a 56 basis point expansion in our loan yields,” said Mariner Kemper, chairman and chief executive officer. “Our net interest margin expanded 12 basis points and drove a 9.3 percent increase in our net interest income.”

Discussion of results from continuing operations

Summary of revenue	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q2 2018			Q1 2018			Q2 2017			CQ vs. LQ			CQ vs. PY
Net interest income	$	150,226		$	147,922		$	137,394		$	2,304		$	12,832
Noninterest income:
Trust and securities processing		42,845			44,002			44,811			(1,157	)		(1,966	)
Trading and investment banking		4,653			4,101			6,173			552			(1,520	)
Service charges on deposit accounts		20,722			21,905			22,731			(1,183	)		(2,009	)
Insurance fees and commissions		340			301			513			39			(173	)
Brokerage fees		6,291			6,353			5,889			(62	)		402
Bankcard fees		17,184			18,123			20,234			(939	)		(3,050	)
Gains on sales of securities available for sale, net		228			139			1,280			89			(1,052	)
Other		8,026			10,601			8,675			(2,575	)		(649	)
Total noninterest income	$	100,289		$	105,525		$	110,306		$	(5,236	)	$	(10,017	)
Total revenue	$	250,515		$	253,447		$	247,700		$	(2,932	)	$	2,815
Net interest margin		3.24	%		3.19	%		3.12	%
Total noninterest income as a % of total revenue		40.03			41.64			44.53

Following the enactment of the Tax Cuts and Jobs Act, beginning in the first quarter of 2018, net interest margin is computed using net interest income adjusted to a fully taxable equivalent (FTE) basis assuming a statutory federal income tax rate of 21 percent and, where applicable, state income taxes; prior period net interest margins are computed using the then-statutory federal income tax rate of 35 percent and, where applicable, state income taxes.

Net interest income

• On a linked quarter basis, the 1.6 percent increase in net interest income was driven by a five basis point improvement in net interest margin, one additional day of net interest income, and a 1.4 percent, or $157.9 million, increase in average loans.

• Earning asset yields improved 18 basis points from the linked quarter primarily due to improved loan yields of 21 basis points to 4.74 percent, in part driven by favorable re-pricing from recent increases in short-term interest rates and earning asset mix changes. The cost of interest-bearing liabilities increased 18 basis points to 0.83 percent driven by a 16 basis point increase in cost of interest-bearing deposits. Total cost of deposits including noninterest-bearing deposits was 45 basis points, an increase of 18 basis points from the linked quarter.

• On a year-over-year basis, the increase in net interest income was driven by a 5.8 percent or $632.4 million increase in average loans as well as higher average loan yields, which increased 56 basis points from one year ago, primarily driven by higher interest rates, volume, and mix changes, offset by the impacts of tax reform on tax equivalent income.

• For the second quarter 2018, average total assets were $20.6 billion, which is an increase of 1.5 percent over the second quarter 2017.

Noninterest income

• Second quarter 2018 noninterest income decreased $5.2 million, or 5.0 percent, on a linked quarter basis largely due to:

• A $2.6 million decline in other income driven by decreases of $1.8 million in equity earnings on alternative investments and $1.1 million in the fair value of company-owned life insurance.

• A decrease in trust and securities processing due to a $1.3 million decline in fund servicing revenue.

• A decrease of $1.2 million in service charges on deposits primarily due to repricing.

• An increase of $1.0 million in rebates and rewards expense recorded as an offset to bankcard fees driven by higher purchase volume.

• These impacts were partially offset by an increase of $0.6 million in trading and investment banking.

• Noninterest income in the second quarter of 2018 decreased $10.0 million, or 9.1 percent, compared to the same quarter in 2017 primarily driven by:

• A $3.7 million increase in rebates and rewards expense recorded as an offset to bankcard fees driven by increased purchase volume.

• A $2.0 million decrease in service charges on deposit accounts due to repricing.

• A $2.0 million decline in fund servicing revenue recorded in trust and securities processing due to customer repricing and losses.

• A $1.1 million decrease in gains on available-for-sale securities.

• A $0.9 million decrease in trading and investment banking due to market adjustments from the company’s seed investments in certain Scout funds following the liquidation of such investments at the end of the second quarter of 2017.

Noninterest expense

Summary of Noninterest expense	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q2 2018		Q1 2018		Q2 2017		CQ vs. LQ			CQ vs. PY
Salaries and employee benefits	$	104,175	$	107,968	$	102,773	$	(3,793	)	$	1,402
Occupancy, net		10,813		10,953		11,061		(140	)		(248	)
Equipment		18,842		18,826		17,956		16			886
Supplies and services		4,146		3,760		4,792		386			(646	)
Marketing and business development		6,184		5,034		5,732		1,150			452
Processing fees		11,537		11,161		10,743		376			794
Legal and consulting		6,460		3,844		6,467		2,616			(7	)
Bankcard		4,165		4,626		5,033		(461	)		(868	)
Amortization of other intangible assets		1,485		1,562		1,924		(77	)		(439	)
Regulatory fees		3,772		2,905		4,071		867			(299	)
Other		5,639		5,237		6,387		402			(748	)
Total noninterest expense	$	177,218	$	175,876	$	176,939	$	1,342		$	279

• GAAP noninterest expense for the second quarter of 2018 was $177.2 million, an increase of $1.3 million, or 0.8 percent, from the linked quarter and $0.3 million, or 0.2 percent, from the second quarter of 2017.

• On a non-GAAP basis, operating noninterest expense (as reconciled later in this release) was $176.4 million for the second quarter 2018, an increase of $2.5 million, or 1.4 percent, compared to the linked quarter, and a decrease of $0.3 million, or 0.2 percent, compared to the second quarter 2017.

• The linked quarter increase in noninterest expense was driven by:

• A $2.6 million increase in legal and consulting expense partially due to timing of consulting expenses on projects delayed during the first quarter of 2018.

• Increased marketing and business development expense of $1.2 million related to timing of multiple projects and increased travel expenses.

• Increased regulatory expense of $0.9 million from a higher assessment base.

• These impacts were partially offset by a $3.8 million decline in salaries and employee benefits, largely driven by lower payroll taxes and 401(k) expense as compared the first quarter of 2018.

• The year-over-year increase in noninterest expense was driven by:

• A $1.4 million increase in salaries and employee benefits, largely due to a $1.7 million increase in salary and wage expense.

• $0.9 million increase in equipment expense related to investments for regulatory requirements, cyber security, and the ongoing modernization of the company’s core systems.

• These impacts were partially offset by a $0.9 million decline in bankcard administrative expenses, and decreases of $0.3 million in derivative expense and $0.5 million in operational losses, both recorded in other expense.

Income Taxes

• The company’s effective tax rate was 15.6 percent for the six months ended June 30, 2018 compared to 21.6 percent for the same period in 2017. The decrease is primarily a result of the Tax Cuts and Jobs Act, which lowered the federal corporate income tax rate to 21 percent from 35 percent, effective on January 1, 2018.

Balance Sheet

• Average total assets for the second quarter 2018 were $20.6 billion compared to $20.7 billion for the linked quarter, and $20.3 billion for the same period in 2017.

Summary of average loans and leases — QTD Average	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q2 2018		Q1 2018		Q2 2017		CQ vs. LQ			CQ vs. PY
Commercial	$	4,478,829	$	4,456,176	$	4,597,866	$	22,653		$	(119,037	)
Asset-based loans		336,710		336,146		242,719		564			93,991
Factoring loans		231,035		223,031		155,528		8,004			75,507
Commercial credit card		191,009		189,891		157,214		1,118			33,795
Real estate — construction		823,169		763,867		802,350		59,302			20,819
Real estate — commercial		3,711,417		3,635,455		3,152,317		75,962			559,100
Real estate — residential		669,177		645,803		592,253		23,374			76,924
Real estate — HELOC		596,025		630,617		682,889		(34,592	)		(86,864	)
Consumer credit card		230,971		223,725		254,552		7,246			(23,581	)
Consumer other		153,427		158,131		139,120		(4,704	)		14,307
Leases		22,679		23,680		35,250		(1,001	)		(12,571	)
Total loans	$	11,444,448	$	11,286,522	$	10,812,058	$	157,926		$	632,390

• Average loans for the second quarter 2018 increased 1.4 percent on a linked-quarter basis and 5.8 percent compared to second quarter 2017.

Summary of average securities — QTD Average	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q2 2018		Q1 2018		Q2 2017		CQ vs. LQ			CQ vs. PY
Securities available for sale:
U.S. Treasury	$	37,982	$	38,197	$	63,945	$	(215	)	$	(25,963	)
U.S. Agencies		2,946		10,360		48,914		(7,414	)		(45,968	)
Mortgage-backed		3,679,835		3,645,891		3,677,797		33,944			2,038
State and political subdivisions		2,330,454		2,453,334		2,478,358		(122,880	)		(147,904	)
Corporates		1,476		8,482		60,508		(7,006	)		(59,032	)
Commercial Paper		7,138		30,955		—		(23,817	)		7,138
Total securities available for sale	$	6,059,831	$	6,187,219	$	6,329,522	$	(127,388	)	$	(269,691	)
Securities held to maturity:
State and political subdivisions		1,228,849		1,251,771		1,242,519		(22,922	)		(13,670	)
Trading securities		45,538		44,592		75,075		946			(29,537	)
Other securities		66,345		65,560		66,199		785			146
Total securities	$	7,400,563	$	7,549,142	$	7,713,315	$	(148,579	)	$	(312,752	)

• Average securities available for sale decreased 4.3 percent compared to the second quarter of 2017 driven by the ongoing reinvestment of cash flows from such securities to fund growth in the loan portfolio.

Summary of average deposits — QTD Average	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q2 2018			Q1 2018			Q2 2017			CQ vs. LQ			CQ vs. PY
Deposits:
Noninterest-bearing demand	$	5,666,364		$	6,050,997		$	5,837,602		$	(384,633	)	$	(171,238	)
Interest-bearing demand and savings		9,768,015			9,660,150			8,475,782			107,865			1,292,233
Time deposits		1,032,000			1,047,700			1,258,384			(15,700	)		(226,384	)
Total deposits	$	16,466,379		$	16,758,847		$	15,571,768		$	(292,468	)	$	894,611
Noninterest bearing deposits as % of total		34.41	%		36.11	%		37.49	%

• Average noninterest-bearing deposits declined 6.4 percent on a linked-quarter basis primarily driven by lower balances held by larger commercial customers.

Capital

Capital information	UMB Financial Corporation
(unaudited, dollars in thousands, except per share data)
	June 30, 2018			March 31, 2018			June 30, 2017
Total equity	$	2,201,812		$	2,167,386		$	2,071,119
Book value per common share		43.96			43.31			41.42
Regulatory capital:
Common equity Tier 1 capital	$	2,145,616		$	2,097,691		$	1,863,359
Tier 1 capital		2,145,616			2,097,691			1,863,359
Total capital		2,315,482			2,269,315			2,031,618
Regulatory capital ratios:
Common equity Tier 1 capital ratio		13.56	%		13.36	%		12.22	%
Tier 1 risk-based capital ratio		13.56			13.36			12.22
Total risk-based capital ratio		14.63			14.45			13.32
Tier 1 leverage ratio		10.50			10.20			9.28

• At June 30, 2018, the company’s risk-based capital ratios presented in the foregoing table exceeded all “well-capitalized” regulatory thresholds.

Asset Quality

Credit quality	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q2 2018			Q1 2018			Q4 2017			Q3 2017			Q2 2017
Net charge-offs — Commercial loans	$	6,137		$	6,847		$	2,248		$	8,961		$	7,971
Net charge-offs (recoveries) — Real estate loans		1,035			1,512			(242	)		238			(95	)
Net charge-offs — Consumer credit card loans		1,786			1,849			1,612			1,635			2,079
Net charge-offs — Consumer other loans		46			94			167			74			71
Net charge-offs — Total loans		9,004			10,302			3,785			10,908			10,026
Net loan charge-offs as a % of total average loans		0.32	%		0.37	%		0.14	%		0.40	%		0.37	%
Loans over 90 days past due	$	2,883		$	5,650		$	3,091		$	2,088		$	2,657
Loans over 90 days past due as a % of total loans		0.02	%		0.05	%		0.03	%		0.02	%		0.02	%
Nonaccrual and restructured loans	$	56,030		$	67,604		$	59,142		$	54,231		$	51,390
Nonaccrual and restructured loans as a % of total loans		0.48	%		0.59	%		0.52	%		0.49	%		0.47	%
Provision for loan losses	$	7,000		$	10,000		$	6,000		$	11,500		$	14,500

• Nonperforming loans, defined as restructured loans on nonaccrual and all other nonaccrual loans, decreased $11.6 million from the linked quarter and increased $4.6 million from the prior year period.

• Net charge-offs decreased to $9.0 million, or 0.32 percent of average loans, compared to $10.3 million, or 0.37 percent, of average loans in the linked quarter, and $10.0 million, or 0.37 percent, of average loans in the second quarter of 2017.

• Provision for loan losses decreased $3.0 million from the linked quarter, consistent with the company’s methodology, which considers the inherent risk in the loan portfolio, as well as other qualitative factors, such as macroeconomic conditions, loan growth, loan impairment changes, loan risk grading changes, and net charge-off levels.

Dividend Declaration

At the company’s quarterly board meeting, the Board of Directors declared a $0.29 per share quarterly cash dividend, payable on October 1, 2018, to shareholders of record at the close of business on September 10, 2018.

Conference Call

The company plans to host a conference call to discuss its second quarter 2018 earnings results on Wednesday, July 25, 2018, at 9:30 a.m. (CT).

Interested parties may access the call by dialing (toll-free) 877-267-8760 or (international) 412-542-4148 and requesting to join the UMB Financial call. The live call may also be accessed by visiting the investor relations area of umbfinancial.com or by using the following the link:

UMB Financial 2Q 2018 Conference Call

A replay of the conference call may be heard through August 8, 2018, by calling (toll-free) 877-344-7529 or (international) 412-317-0088. The replay access code required for playback is 10121500. The call replay may also be accessed via the company’s website umbfinancial.com by visiting the investor relations area.

Non-GAAP Financial Information

In this release, we provide information about net operating income from continuing operations, operating earnings per share from continuing operations — diluted (operating EPS), operating return on average equity (operating ROE), operating return on average assets (operating ROA), operating noninterest expense, and operating efficiency ratio, all of which are non-GAAP financial measures. This information supplements the results that are reported according to generally accepted accounting principles in the United States (GAAP) and should not be viewed in isolation from, or as a substitute for, GAAP results. The differences between the non-GAAP financial measures — net operating income, operating EPS, operating ROE, operating ROA, operating noninterest expense, and operating efficiency ratio — and the nearest comparable GAAP financial measures are reconciled later in this release. The company believes that these non-GAAP financial measures and the reconciliations may be useful to investors because they adjust for acquisition- and severance-related items and divestiture costs that management does not believe reflect the company’s fundamental operating performance.

Net operating income for the relevant period is defined as GAAP net income, adjusted to reflect the impact of excluding expenses related to acquisitions and divestitures, severance expense, and the cumulative tax impact of these adjustments.

Operating EPS (diluted) is calculated as earnings per share as reported, adjusted to reflect, on a per share basis, the impact of excluding the non-GAAP adjustments described above for the relevant period. Operating ROE is calculated as net operating income from continuing operations, divided by the company’s average total shareholders’ equity for the relevant period. Operating ROA is calculated as net operating income from continuing operations, divided by the company’s average assets for the relevant period. Operating noninterest expense for the relevant period is defined as GAAP noninterest expense, adjusted to reflect the pre-tax impact of non-GAAP adjustments described above. Operating efficiency ratio is calculated as the company’s operating noninterest expense, net of amortization of other intangibles, divided by the company’s total non-GAAP revenue (calculated as net interest income plus noninterest income, less gains on sales of securities available for sale, net).

Forward-Looking Statements:

This release contains, and our other communications may contain, 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 our expectations, intentions, or forecasts about future events, circumstances, results, or aspirations. All forward-looking statements are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Our actual future objectives, strategies, plans, prospects, performance, condition, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events, circumstances, or aspirations to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2017, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do 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, except to the extent required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K, or other applicable document that is filed or furnished with the SEC.

About UMB:

UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Mo. UMB offers personal banking, commercial banking, healthcare services and institutional

banking, which includes services to mutual funds and alternative-investment entities and registered investment advisors. UMB operates banking and wealth management centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas. For more information, visit UMB.com, UMB Financial.com, UMB Blog or follow us on Twitter at @UMBBank, UMB Facebook and UMB LinkedIn.

Consolidated Balance Sheets	UMB Financial Corporation
(unaudited, dollars in thousands)
	June 30,
	2018			2017
ASSETS
Loans	$	11,631,628		$	10,848,578
Allowance for loan losses		(98,298	)		(97,797	)
Net loans		11,533,330			10,750,781
Loans held for sale		3,482			3,443
Investment Securities:
Available for sale		6,011,684			6,226,041
Held to maturity		1,204,582			1,279,524
Trading securities		67,091			61,833
Other securities		66,547			65,039
Total investment securities		7,349,904			7,632,437
Federal funds sold and resell agreements		70,346			184,521
Interest-bearing due from banks		113,875			332,090
Cash and due from banks		379,433			379,148
Premises and equipment, net		274,408			276,412
Accrued income		100,133			99,122
Goodwill		180,867			180,867
Other intangibles, net		17,210			24,614
Other assets		508,482			436,421
Discontinued assets — goodwill and other intangibles, net		—			53,743
Total assets	$	20,531,470		$	20,353,599
LIABILITIES
Deposits:
Noninterest-bearing demand	$	5,994,426		$	6,433,339
Interest-bearing demand and savings		9,471,698			8,429,180
Time deposits under $250,000		512,446			569,281
Time deposits of $250,000 or more		407,508			664,866
Total deposits		16,386,078			16,096,666
Federal funds purchased and repurchase agreements		1,666,158			1,886,370
Long-term debt		78,692			76,083
Accrued expenses and taxes		147,608			161,470
Other liabilities		51,122			61,891
Total liabilities		18,329,658			18,282,480
SHAREHOLDERS’ EQUITY
Common stock		55,057			55,057
Capital surplus		1,050,660			1,037,898
Retained earnings		1,434,342			1,204,436
Accumulated other comprehensive loss, net		(128,959	)		(23,625	)
Treasury stock		(209,288	)		(202,647	)
Total shareholders’ equity		2,201,812			2,071,119
Total liabilities and shareholders’ equity	$	20,531,470		$	20,353,599

Consolidated Statements of Income	UMB Financial Corporation
(unaudited, dollars in thousands except share and per share data)
	Three Months Ended June 30,					Six Months Ended June 30,
	2018		2017			2018			2017
INTEREST INCOME
Loans	$	135,150	$	112,724		$	261,284		$	219,284
Securities:
Taxable interest		20,523		18,441			40,303			37,631
Tax-exempt interest		18,290		18,296			36,993			35,479
Total securities income		38,813		36,737			77,296			73,110
Federal funds and resell agreements		752		711			1,790			1,630
Interest-bearing due from banks		1,056		580			2,636			1,131
Trading securities		709		459			1,139			746
Total interest income		176,480		151,211			344,145			295,901
INTEREST EXPENSE
Deposits		18,334		7,835			32,169			13,801
Federal funds and repurchase agreements		6,666		4,994			11,398			8,463
Other		1,254		988			2,430			1,928
Total interest expense		26,254		13,817			45,997			24,192
Net interest income		150,226		137,394			298,148			271,709
Provision for loan losses		7,000		14,500			17,000			23,500
Net interest income after provision for loan losses		143,226		122,894			281,148			248,209
NONINTEREST INCOME
Trust and securities processing		42,845		44,811			86,847			87,352
Trading and investment banking		4,653		6,173			8,754			13,715
Service charges on deposit accounts		20,722		22,731			42,627			44,806
Insurance fees and commissions		340		513			641			1,159
Brokerage fees		6,291		5,889			12,644			11,266
Bankcard fees		17,184		20,234			35,307			37,986
Gains on sales of securities available for sale, net		228		1,280			367			1,748
Other		8,026		8,675			18,627			15,191
Total noninterest income		100,289		110,306			205,814			213,223
NONINTEREST EXPENSE
Salaries and employee benefits		104,175		102,773			212,143			206,425
Occupancy, net		10,813		11,061			21,766			22,029
Equipment		18,842		17,956			37,668			35,438
Supplies and services		4,146		4,792			7,906			8,886
Marketing and business development		6,184		5,732			11,218			9,873
Processing fees		11,537		10,743			22,698			19,942
Legal and consulting		6,460		6,467			10,304			11,517
Bankcard		4,165		5,033			8,791			9,936
Amortization of other intangible assets		1,485		1,924			3,047			3,970
Regulatory fees		3,772		4,071			6,677			7,904
Other		5,639		6,387			10,876			14,829
Total noninterest expense		177,218		176,939			353,094			350,749
Income before income taxes		66,297		56,261			133,868			110,683
Income tax expense		10,873		11,490			20,911			23,936
Income from continuing operations		55,424		44,771			112,957			86,747
Discontinued Operations
(Loss) income from discontinued operations before income taxes		—		(2,599	)		(917	)		308
Income tax (benefit) expense		—		(649	)		(170	)		53
(Loss) income from discontinued operations		—		(1,950	)		(747	)		255
NET INCOME	$	55,424	$	42,821		$	112,210		$	87,002
PER SHARE DATA
Basic:
Income from continuing operations	$	1.12	$	0.91		$	2.28		$	1.76
(Loss) income from discontinued operations		—		(0.04	)		(0.01	)		0.01
Net income – basic		1.12		0.87			2.27			1.77
Diluted:
Income from continuing operations		1.11		0.90			2.26			1.74
(Loss) income from discontinued operations		—		(0.04	)		(0.01	)		0.01
Net income - diluted		1.11		0.86			2.25			1.75
Dividends		0.290		0.255			0.580			0.510
Weighted average shares outstanding—basic		49,551,920		49,269,786			49,486,626			49,190,271
Weighted average shares outstanding—diluted		50,007,022		49,848,903			49,973,992			49,829,193

Consolidated Statements of Comprehensive Income	UMB Financial Corporation
(unaudited, dollars in thousands)
	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Net income	$	55,424		$	42,821		$	112,210		$	87,002
Other comprehensive (loss) income, net of tax:
Unrealized gains and losses on debt securities:
Change in unrealized holding gains and losses, net		(16,020	)		35,311			(96,682	)		57,582
Less: Reclassification adjustment for gains included in net income		(228	)		(1,280	)		(367	)		(1,748	)
Change in unrealized gains and losses on debt securities during the period		(16,248	)		34,031			(97,049	)		55,834
Change in unrealized gains and losses on derivative hedges		910			(1,157	)		3,112			(911	)
Income tax benefit (expense)		3,770			(12,340	)		23,552			(21,006	)
Other comprehensive (loss) income before reclassifications		(11,568	)		20,534			(70,385	)		33,917
Amounts reclassified from accumulated other comprehensive income		—			—			(13,049	)		—
Net current-period other comprehensive (loss) income		(11,568	)		20,534			(83,434	)		33,917
Comprehensive income	$	43,856		$	63,355		$	28,776		$	120,919

Consolidated Statements of Shareholders’ Equity	UMB Financial Corporation
(unaudited, dollars in thousands except per share data)
	Common Stock		Capital Surplus			Retained Earnings			Accumulated Other Comprehensive Loss			Treasury Stock			Total
Balance - January 1, 2017	$	55,057	$	1,033,419		$	1,142,887		$	(57,542	)	$	(211,437	)	$	1,962,384
Total comprehensive income		—		—			87,002			33,917			—			120,919
Cash dividends ($0.51 per share)		—		—			(25,453	)		—			—			(25,453	)
Purchase of treasury stock		—		—			—			—			(4,279	)		(4,279	)
Issuance of equity awards		—		(3,929	)		—			—			4,401			472
Recognition of equity-based compensation		—		6,243			—			—			—			6,243
Sale of treasury stock		—		321			—			—			244			565
Exercise of stock options		—		1,844			—			—			8,424			10,268
Balance - June 30, 2017	$	55,057	$	1,037,898		$	1,204,436		$	(23,625	)	$	(202,647	)	$	2,071,119
Balance - January 1, 2018	$	55,057	$	1,046,095		$	1,338,110		$	(45,525	)	$	(212,206	)	$	2,181,531
Total comprehensive income (loss)		—		—			112,210			(83,434	)		—			28,776
Reclassification of certain tax effects		—		—			12,917			—			—			12,917
Cash dividends ($0.580 per share)		—		—			(29,040	)		—			—			(29,040	)
Purchase of treasury stock		—		—			—			—			(6,211	)		(6,211	)
Issuance of equity awards		—		(2,457	)		—			—			2,951			494
Recognition of equity-based compensation		—		5,201			—			—			—			5,201
Sale of treasury stock		—		278			—			—			275			553
Exercise of stock options		—		1,543			—			—			5,903			7,446
Cumulative effect adjustments		—		—			145			—			—			145
Balance - June 30, 2018	$	55,057	$	1,050,660		$	1,434,342		$	(128,959	)	$	(209,288	)	$	2,201,812

Average Balances / Yields and Rates	UMB Financial Corporation
(tax - equivalent basis)
(unaudited, dollars in thousands)
	Three Months Ended June 30,
	2018						2017
	Average Balance			Average Yield/Rate			Average Balance			Average Yield/Rate
Assets
Loans, net of unearned interest	$	11,444,448			4.74	%	$	10,812,058			4.18	%
Securities:
Taxable		3,862,378			2.13			3,997,904			1.85
Tax-exempt		3,492,647			2.66			3,640,336			3.09
Total securities		7,355,025			2.38			7,638,240			2.44
Federal funds and resell agreements		107,343			2.81			150,745			1.89
Interest bearing due from banks		252,292			1.68			252,169			0.92
Trading securities		45,538			6.83			75,075			2.96
Total earning assets		19,204,646			3.79			18,928,287			3.41
Allowance for loan losses		(101,801	)					(95,410	)
Other assets		1,516,801						1,482,040
Total assets	$	20,619,646					$	20,314,917
Liabilities and Shareholders’ Equity
Interest-bearing deposits	$	10,800,015			0.68	%	$	9,734,166			0.32	%
Federal funds and repurchase agreements		1,737,383			1.54			2,400,181			0.83
Borrowed funds		78,583			6.40			75,953			5.22
Total interest-bearing liabilities		12,615,981			0.83			12,210,300			0.45
Noninterest-bearing demand deposits		5,666,364						5,837,602
Other liabilities		152,491						199,386
Shareholders’ equity		2,184,810						2,067,629
Total liabilities and shareholders’ equity	$	20,619,646					$	20,314,917
Net interest spread					2.96	%					2.96	%
Net interest margin					3.24						3.12

Average Balances / Yields and Rates	UMB Financial Corporation
(tax - equivalent basis)
(unaudited, dollars in thousands)
	Six Months Ended June 30,
	2018						2017
	Average Balance			Average Yield/Rate			Average Balance			Average Yield/Rate
Assets
Loans, net of unearned interest	$	11,365,921			4.64	%	$	10,686,792			4.14	%
Securities:
Taxable		3,865,660			2.10			4,097,794			1.85
Tax-exempt		3,563,715			2.65			3,564,319			3.08
Total securities		7,429,375			2.37			7,662,113			2.42
Federal funds and resell agreements		134,009			2.69			194,231			1.69
Interest bearing due from banks		341,469			1.56			280,490			0.81
Trading securities		45,068			5.65			67,809			2.73
Total earning assets		19,315,842			3.70			18,891,435			3.36
Allowance for loan losses		(101,652	)					(94,264	)
Other assets		1,468,793						1,477,685
Total assets	$	20,682,983					$	20,274,856
Liabilities and Shareholders’ Equity
Interest-bearing deposits	$	10,754,187			0.60	%	$	9,689,335			0.29	%
Federal funds and repurchase agreements		1,649,758			1.39			2,365,101			0.72
Borrowed funds		78,773			6.22			76,209			5.10
Total interest-bearing liabilities		12,482,718			0.74			12,130,645			0.40
Noninterest-bearing demand deposits		5,857,618						5,917,826
Other liabilities		170,374						200,809
Shareholders’ equity		2,172,273						2,025,576
Total liabilities and shareholders’ equity	$	20,682,983					$	20,274,856
Net interest spread					2.96	%					2.96	%
Net interest margin					3.22						3.10

Business Segment Information	UMB Financial Corporation
(unaudited, dollars in thousands)
	Three Months Ended June 30, 2018
	Commercial Banking		Institutional Banking		Personal Banking		Healthcare Services		Total
Net interest income	$	93,011	$	16,279	$	31,111	$	9,825	$	150,226
Provision for loan losses		5,139		322		1,539		—		7,000
Noninterest income		19,178		43,411		28,720		8,980		100,289
Noninterest expense		62,859		47,551		54,259		12,549		177,218
Income before taxes		44,191		11,817		4,033		6,256		66,297
Income tax expense		7,246		1,939		662		1,026		10,873
Income from continuing operations	$	36,945	$	9,878	$	3,371	$	5,230	$	55,424
Average assets	$	9,740,000	$	3,934,000	$	4,799,000	$	2,147,000	$	20,620,000
	Three Months Ended June 30, 2017
	Commercial Banking		Institutional Banking		Personal Banking		Healthcare Services		Total
Net interest income	$	86,810	$	12,415	$	30,615	$	7,554	$	137,394
Provision for loan losses		12,114		320		2,066		—		14,500
Noninterest income		21,714		48,161		31,135		9,296		110,306
Noninterest expense		62,545		46,610		56,516		11,268		176,939
Income before taxes		33,865		13,646		3,168		5,582		56,261
Income tax expense		7,188		3,137		106		1,059		11,490
Income from continuing operations	$	26,677	$	10,509	$	3,062	$	4,523	$	44,771
Average assets	$	9,842,000	$	3,316,000	$	5,293,000	$	1,864,000	$	20,315,000
	Six Months Ended June 30, 2018
	Commercial Banking		Institutional Banking		Personal Banking		Healthcare Services		Total
Net interest income	$	185,006	$	32,023	$	62,003	$	19,116	$	298,148
Provision for loan losses		13,117		672		3,211		—		17,000
Noninterest income		39,775		88,830		59,434		17,775		205,814
Noninterest expense		125,131		94,383		109,225		24,355		353,094
Income before taxes		86,533		25,798		9,001		12,536		133,868
Income tax expense		13,516		4,030		1,406		1,959		20,911
Income from continuing operations	$	73,017	$	21,768	$	7,595	$	10,577	$	112,957
Average assets	$	9,765,000	$	3,882,000	$	4,885,000	$	2,151,000	$	20,683,000
	Six Months Ended June 30, 2017
	Commercial Banking		Institutional Banking		Personal Banking		Healthcare Services		Total
Net interest income	$	172,108	$	23,971	$	60,809	$	14,821	$	271,709
Provision for loan losses		18,934		789		3,777		—		23,500
Noninterest income		40,919		93,828		59,671		18,805		213,223
Noninterest expense		125,202		91,362		112,632		21,553		350,749
Income before taxes		68,891		25,648		4,071		12,073		110,683
Income tax expense		14,870		5,456		1,015		2,595		23,936
Income from continuing operations	$	54,021	$	20,192	$	3,056	$	9,478	$	86,747
Average assets	$	9,730,000	$	3,391,000	$	5,317,000	$	1,837,000	$	20,275,000

The company has strategically aligned its operations into the following four reportable segments: Commercial Banking, Institutional Banking, Personal Banking, and Healthcare Services. Senior executive officers regularly evaluate business segment financial results produced by the company’s internal reporting system in deciding how to allocate resources and assess performance for individual business segments. Previously, the company had the following two business segments: Bank and Asset Servicing. The company’s reportable segments include certain corporate overhead, technology and service costs that are allocated based on methodologies that are applied consistently between periods. For comparability purposes, amounts in all periods are based on methodologies in effect at June 30, 2018.

Non-GAAP Financial Measures	UMB Financial Corporation
Net operating income Non-GAAP reconciliations:
(unaudited, dollars in thousands except per share data)
	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Income from continuing operations (GAAP)	$	55,424		$	44,771			112,957		$	86,747
Adjustments:
Acquisition and divestiture (income) expense		(24	)		17			(6	)		17
Severance expense		867			259			2,814			735
Tax-impact of adjustments (i)		(188	)		(99	)		(624	)		(271	)
Total Non-GAAP adjustments (net of tax)		655			177			2,184			481
Net operating income from continuing operations (Non-GAAP)	$	56,079		$	44,948		$	115,141		$	87,228
Earnings per share from continuing operations - diluted (GAAP)	$	1.11		$	0.90		$	2.26		$	1.74
Acquisition and divestiture (income) expense		—			—			—			—
Severance expense		0.01			—			0.05			0.01
Tax-impact of adjustments (i)		—			—			(0.01	)		—
Operating earnings per share from continuing operations - diluted (Non-GAAP)	$	1.12		$	0.90		$	2.30		$	1.75
GAAP
Return on average assets		1.08	%		0.88	%		1.10	%		0.86	%
Return on average equity		10.18			8.69			10.49			8.64
Non-GAAP
Operating return on average assets		1.09	%		0.89	%		1.12	%		0.87	%
Operating return on average equity		10.30			8.72			10.69			8.68

Operating noninterest expense and operating efficiency ratio Non-GAAP reconciliations:	UMB Financial Corporation
(unaudited, dollars in thousands)
	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Noninterest expense	$	177,218		$	176,939		$	353,094		$	350,749
Adjustments to arrive at operating noninterest expense (pre-tax):
Acquisition and divestiture (income) expense		(24	)		17			(6	)		17
Severance expense		867			259			2,814			735
Total Non-GAAP adjustments (pre-tax)		843			276			2,808			752
Operating noninterest expense (Non-GAAP)	$	176,375		$	176,663		$	350,286		$	349,997
Noninterest expense	$	177,218		$	176,939		$	353,094		$	350,749
Less: Amortization of other intangibles		1,485			1,924			3,047			3,970
Noninterest expense, net of amortization of other intangibles (Non-GAAP) (numerator A)	$	175,733		$	175,015		$	350,047		$	346,779
Operating noninterest expense	$	176,375		$	176,663		$	350,286		$	349,997
Less: Amortization of other intangibles		1,485			1,924			3,047			3,970
Operating expense, net of amortization of other intangibles (Non-GAAP) (numerator B)	$	174,890		$	174,739		$	347,239		$	346,027
Net interest income	$	150,226		$	137,394		$	298,148		$	271,709
Noninterest income		100,289			110,306			205,814			213,223
Less: Gains on sales of securities available for sale, net		228			1,280			367			1,748
Total Non-GAAP Revenue (denominator A)	$	250,287		$	246,420		$	503,595		$	483,184
Efficiency ratio (numerator A/denominator A)		70.21	%		71.02	%		69.51	%		71.77	%
Operating efficiency ratio (Non-GAAP) (numerator B/denominator A)		69.88	%		70.91	%		68.95	%		71.61	%

(i) Calculated using the company’s marginal tax rate of 22.2% for periods beginning after December 31, 2017 as a result of the Tax Cuts and Jobs Act. The prior periods were calculated using the company’s marginal tax rate of 36.0%.

EX-99.2

UMB Financial Second Quarter 2018 July 24, 2018 Exhibit 99.2

Cautionary Notice about Forward-Looking Statements This presentation of UMB Financial Corporation (the “company,” “our,” “us,” or “we”) contains, and our other communications may contain, 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 our expectations, intentions, or forecasts about future events, circumstances, results, or aspirations. All forward-looking statements are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Our actual future objectives, strategies, plans, prospects, performance, condition, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events, circumstances, or aspirations to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2017, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do 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, except to the extent required by applicable securities laws. You, however, should consult disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K, or other applicable document that is filed or furnished with the SEC.

2Q 2018 Highlights

Earnings Summary – 2Q 2018 $ in thousands, except share and per share data; unaudited Non-GAAP adjustments include acquisition and divestiture income and expense, severance expense and the tax impact of these adjustments. See the non-GAAP reconciliations and additional information on these items on slides 32 and 33.

Key Performance Metrics See slides 32 and 33 for additional disclosures and reconciliations related to these non-GAAP financial measures. Beginning in Q1 2018, the Company revised the denominator of its Efficiency Ratio and Operating Efficiency Ratio calculations to use “Net Interest Income” in place of “Tax Equivalent Net Interest Income”. All prior periods presented here were updated using this revised formula. For first and second quarter 2018, net interest margin is computed using net interest income adjusted to a fully taxable equivalent (“FTE") basis assuming a federal income tax rate of 21 percent; while prior period net interest margins are computed using a federal income tax rate of 35 percent.

Consistent Loan Growth Average Total Loans 5 Year CAGR 12.9%

Net Charge-Off History (1) Commercial Loans includes commercial and industrial, commercial credit card, asset-based and factoring loans. (2) Other includes all real-estate related loans (commercial, residential and HELOC) plus consumer loans and DDA charge-offs.

Loan Classification Trends % of total loans 0.0% 1.0% 2.0% 3.0%

2Q 2018 Financials

Select Balance Sheet Items $ in thousands, average balances; unaudited Three Months Ended For first and second quarter 2018, securities yields, earning asset yields, net interest spread and net interest margin are computed using net interest income adjusted to a fully taxable equivalent (“FTE") basis assuming a federal income tax rate of 21 percent; in prior periods, these metrics are computed using a federal income tax rate of 35 percent.

Loan Paydowns, Payoffs, and Line Changes

Loan Composition Diverse Loan Book (Average Loan Balances for the three months ended June 30 of the indicated year) Commercial Credit Card Commercial & Industrial HELOC Residential Real Estate Real Estate Construction Commercial Real Estate Consumer Credit Card Consumer Other $6.9B $8.1B $9.9B $10.8B $11.4B Factoring Loans Asset-Based Loans Percentages less than 5% have been omitted. Includes leases. (1) (2)

Colorado Kansas City Kansas Greater MO St. Louis Arizona Texas Oklahoma Marquette Transportation Fin (Natl. Sales) Nebraska Marquette Business Credit (Natl. Sales) Geographic Diversity Loans by Region (Average Loan Balances for the three months ended June 30 of the indicated year) High Growth Regions 2Q’18 vs. 2Q’17 Nebraska +23.4% Factoring (national platform) +48.5% Asset Based (national platform) +45.8% Percentages less than 5% have been omitted. $6.9B $8.1B $9.9B $10.8B $11.4B (1)

Securities Held to Maturity $1.2 billion at June 30, 2018 Securities Available for Sale $6.0 billion at June 30, 2018 High Quality Investment Portfolio Agencies (0.0%) Corporates (0.0%) Municipals Mortgage-Backed Securities Treasuries Governmental Other Higher Education Healthcare Utility Social Service Industrial Cultural Civic K-12 Education NFP - Other Average Balance: $6.1 billion Average Yield: 2.13% Duration: 45 months Average Balance: $1.2 billion Average Yield: 3.26% Duration: 74 months Total Portfolio Average Yield: 2.41% Duration: 50 months For second quarter 2018, securities yields are computed using net interest income adjusted to a fully taxable equivalent (“FTE") basis assuming a federal income tax rate of 21 percent; in prior periods, these metrics are computed using a federal income tax rate of 35 percent.

Securities and Loan Statistics (1) Roll off includes cash flow from maturities, calls or amortizations of securities and is presented net of sales.  (2) Purchased amount is presented net of purchases made related to sales. Loan Portfolio Statistics at June 30, 2018 Variable Rate Loans: $7.3 billion or 63% of loan book ~40% of variable loans are tied to Prime for the next quarter ~59% of variable loans are tied to LIBOR for the next quarter Loan Repricing/Maturity Schedule 59% in 3rd quarter 2018 68% in the next 12 months AFS Portfolio Activity For first and second quarter 2018, securities yields are computed using net interest income adjusted to a fully taxable equivalent (“FTE") basis assuming a federal income tax rate of 21 percent; in prior periods, these metrics are computed using a federal income tax rate of 35 percent.

Diverse Sources of Deposits (Average Deposits for the three months ended June 30 of the indicated year) Deposit Composition $12.3B $13.4B $15.0B $15.6B $16.5B Personal Banking - Consumer Commercial Institutional Banking Personal Banking - Private Wealth Institutional Banking - Asset Servicing Healthcare Personal Banking - Small Business Other Percentages less than 5% have been omitted. (1)

Strong Capital Position Capital Ratio Trends (%) 2015 - 2018 ratios calculated under Basel III requirements. Total Risk-Based Capital Tier 1 Risk-Based Capital Tier 1 Leverage Common Equity Tier 1

Noninterest Income – 2Q 2018 Noninterest income decreased $5.2 million, or 5.0%, compared to 1Q’18, primarily driven by: A $1.8MM decline in equity earnings on alternative investments and $1.1MM in the fair value of company-owned life insurance, both of which have near-equal offsets in expense; A $1.3MM decrease in fund servicing revenue in trust and securities processing related to the exit of one large customer who made the decision to consolidate all relationships with one service provider; A decrease of $1.2MM in deposit service charges related to repricing of a larger customer contract in Institutional Banking; and A $1.0MM increase in rebates and rewards expense (contra-revenue) in bankcard fees driven by higher purchase volume. 2nd Quarter ‘18 Drivers Beginning in Q1 2018, “Other” includes “Equity Earnings on Alternative Investments” which was previously separately disclosed.

Bankcard Fees Noninterest Income Composition – 2Q 2018 Service Charges on Deposit Accounts Trust & Securities Processing Insurance Fees & Commissions Other Brokerage Fees Trading & Investment Banking Trust & Securities Processing Composition: ($ in millions) Gains on Sales of Securities Source of Income: 2Q’18 1Q’18 2Q’17 Personal Banking – Private Wealth & Prairie Capital $ 16.2 $ 16.3 $ 17.0 Institutional Banking – Fund Services 21.2 22.5 23.2 Institutional Banking – Corp. Trust & other 5.4 5.2 4.6   $ 42.8 $ 44.0 $ 44.8

Noninterest Expense – 2Q 2018 Operating noninterest expense, which excludes the impact of acquisition and divestiture income and expense and severance expense, was $176.4 million for the second quarter 2018, an increase of $2.5 million, or 1.4 percent, compared to the linked quarter, and a decrease of $0.3 million, or 0.2 percent, compared to the second quarter 2017. See slides 32 and 33 for a reconciliation of this non-GAAP financial measure. 2nd Quarter ‘18 Drivers Noninterest expense increased $1.3 million, or 0.8%, compared to 1Q’18, driven by: A $2.6MM increase in legal and consulting expense partially due to timing of projects delayed during 1Q’18; $1.2MM of Increased marketing and business development related to timing of multiple projects and increased travel expenses; Increased regulatory expense of $867k from a higher assessment base; and Partially offset by a $3.8MM decrease in salaries and employee benefits, largely driven by lower payroll taxes and 401(k) expense.

Business Segment Updates

Commercial Banking Commercial Banking Loans $ in billions Commercial Banking Deposits $ in billions Demand Deposits Interest-Bearing Deposits

Commercial Real Estate Portfolio CRE & Construction Lending (Average Loan Balances for the three months ended June 30 of the indicated year) Investment CRE Owner Occ. CRE Construction Farmland Multi-Family CRE Residential Construction (1) Percentages less than 5% have been omitted.

Institutional Banking Institutional Banking Deposits $ in billions Demand Deposits Interest-Bearing Deposits

Institutional Banking – Business Description Banking services for broker-dealers FDIC sweep solutions; liquidity alternative to overnight funds Fixed income services for banks, institutional & corporate clients Underwriting for healthcare, municipalities, educational institutions & corporate clients Fund accounting & administration Alternative Investments Workout defaulted bond deals on behalf of holders Investor Solutions Corporate Trust Investment Banking Public Finance Distressed Debt Asset Servicing Bond trustee and agency services to municipal and corporate issuers Escrow-related and custodial services

Personal Banking Personal Banking Deposits $ in billions Personal Banking Loans $ in billions Consumer & Small Business Private Banking

Home Equity Lines of Credit $ in billions $1.2B $1.4B $1.6B $1.7B $1.5B Assets Under Management $ in billions Personal Banking

Healthcare Services Healthcare Deposits & Assets End-of-period balances; $ in billions 2014 2015 2016 2017 2Q’18 HSA deposits as % of total UMB deposits 6.2% 7.8% 9.7% 11.4% 14.1% HSA Deposits HSA Investment Assets

Multi-Channel Healthcare Strategy UMB offers a modular and configurable platform of applications and services that deliver the underlying core banking functionality to our healthcare partners Broker/Employer TPAs Health Plans Technology Firms Payment Aggregators Healthcare Partners HCS Applications SSO Web Services Contributions Enrollment BIN Sponsor HCS Saver Partner Portal Core Banking Systems

Healthcare Services – Growth & Potential Industry information source: Devenir Research 2017 Year-End HSA Market Statistics & Trends report dated February 22, 2018. Rankings as of December 31, 2017. Deposit and asset growth rates on an annual basis as of December 31st of each respective year. HCS represents a unique asset as one of the top 5 leaders in a high growth, niche market. Growth Rates – Deposits and Assets

Card Purchase Volumes Purchase Volume & Interchange Revenue Commercial Credit Consumer Credit Consumer Debit Healthcare Debit Institutional Banking – IBIS Debit Interchange ($ in millions) $2.8B $2.2B $2.3B $2.6B $2.7B Percentages less than 5% have been omitted. (1)

In this presentation, we provide information about net operating income from continuing operations, operating earnings per share from continuing operations-diluted (operating EPS-diluted), operating return on average equity (operating ROE), operating return on average assets (operating ROA), operating noninterest expense and operating efficiency ratio, all of which are non-GAAP financial measures. This information supplements the results that are reported according to generally accepted accounting principles in the United States (GAAP) and should not be viewed in isolation from, or as a substitute for, GAAP results. The differences between the non-GAAP financial measures and the nearest comparable GAAP financial measures are reconciled in the tables below and on the next slide. The Company believes that these non-GAAP financial measures and the reconciliations may be useful to investors because they adjust for acquisition- and severance-related items and divestiture income and costs that management does not believe reflect the Company’s fundamental operating performance. Net operating income for the relevant period is defined as GAAP net income, adjusted to reflect the impact of excluding expenses and income related to acquisitions and divestitures, severance expense, and the cumulative tax impact of these adjustments. Net Operating Income Non-GAAP Reconciliation (continued on next page)

(i) Calculated using the Company's marginal tax rate of 22.2% for periods beginning after December 31,2017, as a result of the Tax Cuts and Jobs Act. All prior periods were calculated using the Company’s marginal tax rate of 36.0%. Operating Noninterest Expense & Efficiency Ratio Non-GAAP Reconciliation Operating EPS-diluted is calculated as diluted earnings per share as reported, adjusted to reflect, on a per share basis, the impact of excluding the non-GAAP adjustments described above for the relevant period. Operating ROE is calculated as net operating income, divided by the Company’s average total shareholders’ equity for the relevant period. Operating ROA is calculated as net operating income, divided by the Company’s average assets for the relevant period. Operating noninterest expense for the relevant period is defined as GAAP noninterest expense, adjusted to reflect the pre-tax impact of non-GAAP adjustments described above. Operating efficiency ratio is calculated as the Company’s operating noninterest expense, net of amortization of other intangibles, divided by the Company’s total non-GAAP revenue (which is calculated as net interest income plus noninterest income, less gains on sales of securities available for sale, net).