PARENT COMPANY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

PARENT COMPANY FINANCIAL INFORMATION

19. PARENT COMPANY FINANCIAL INFORMATION

UMB FINANCIAL CORPORATION

BALANCE SHEETS (in thousands)

	December 31,
	2022		2021
ASSETS
Investment in subsidiaries:
Banks	$	2,685,783	$	2,970,227
Non-banks		178,973		169,123
Total investment in subsidiaries		2,864,756		3,139,350
Goodwill on purchased affiliates		5,011		5,011
Cash		139,058		185,372
Investment securities and other		106,294		155,196
Total assets	$	3,115,119	$	3,484,929
LIABILITIES AND SHAREHOLDERS' EQUITY
Long-term debt	$	381,311	$	271,544
Accrued expenses and other		66,715		67,961
Total liabilities		448,026		339,505
Shareholders' equity		2,667,093		3,145,424
Total liabilities and shareholders' equity	$	3,115,119	$	3,484,929

STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (in thousands)

	Year Ended December 31,
	2022			2021			2020
INCOME
Dividends and income received from subsidiaries	$	57,000		$	129,217		$	78,360
Service fees from subsidiaries		74,472			60,346			49,191
Other		55,988			12,771			9,241
Total income		187,460			202,334			136,792
EXPENSE
Salaries and employee benefits		60,094			62,109			56,919
Other		35,943			31,022			22,657
Total expense		96,037			93,131			79,576
Income before income taxes and equity in undistributed earnings of subsidiaries		91,423			109,203			57,216
Income tax expense (benefit)		10,958			(10,322	)		(6,230	)
Income before equity in undistributed earnings of subsidiaries		80,465			119,525			63,446
Equity in undistributed earnings of subsidiaries:
Banks		344,567			263,084			234,014
Non-Banks		6,650			(29,591	)		(10,958	)
Net income	$	431,682		$	353,018		$	286,502
Other comprehensive (loss) income		(829,049	)		(192,026	)		235,160
Comprehensive (loss) income	$	(397,367	)	$	160,992		$	521,662

STATEMENTS OF CASH FLOWS (in thousands)

	Year Ended December 31,
	2022			2021			2020
OPERATING ACTIVITIES
Net income	$	431,682		$	353,018		$	286,502
Adjustments to reconcile net income to cash provided by operating activities:
Equity in earnings of subsidiaries		(408,217	)		(362,709	)		(301,415	)
Dividends received from subsidiaries		57,000			129,217			78,360
Depreciation and amortization		12			15			15
Amortization of debt issuance costs		556			450			131
Equity based compensation		21,491			21,208			15,120
Changes in other assets and liabilities, net		12,522			(4,049	)		(1,724	)
Net cash provided by operating activities		115,046			137,150			76,989
INVESTING ACTIVITIES
Net capital investment in subsidiaries		(207,575	)		(60,264	)		(96,678	)
Net decrease (increase) in investment securities		40,235			(11,051	)		(29,648	)
Net cash used in investing activities		(167,340	)		(71,315	)		(126,326	)
FINANCING ACTIVITIES
Cash dividends paid		(72,030	)		(66,750	)		(60,281	)
Proceeds from short-term debt		—			—			15,000
Repayment of short-term debt		—			—			(15,000	)
Proceeds from long-term debt		110,000			—			200,000
Payment of debt issuance costs		(2,129	)		—			(2,250	)
Proceeds from exercise of stock options and sales of treasury stock		2,136			19,048			5,186
Purchases of treasury stock		(31,997	)		(5,506	)		(63,766	)
Net cash provided by (used in) in financing activities		5,980			(53,208	)		78,889
Net (decrease) increase in cash		(46,314	)		12,627			29,552
Cash and cash equivalents at beginning of period		185,372			172,745			143,193
Cash and cash equivalents at end of period	$	139,058		$	185,372		$	172,745