UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 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 001-38481 UMB FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incor ...

UMB Financial (UMBF) Q2 2025 Earnings Call July 30, 2025 09:30 AM ET Company ParticipantsKay Gregory - SVP & Director - IRMariner Kemper - Chairman & CEORam Shankar - EVP & CFOJon Arfstrom - MD & Associate Director - US ResearchJim Rine - President - UMB Financial Corporation & President & CEO - UMB BankJared Shaw - Managing DirectorChristopher Mcgratty - MD & Head - U.S. Bank ResearchBen Gerlinger - VP - Equity ResearchBrian Wilczynski - Vice President - Equity ResearchDavid Long - MD - BankingTimur Brazil ...

Financial Data and Key Metrics Changes - The reported net income available for common shareholders was $215.4 million, which included $13.5 million of acquisition expenses, compared to $53.2 million in the first quarter [5] - The second quarter net operating income was $225.4 million or $2.96 per share, reflecting strong performance [5] - There was a pretax gain of $37.7 million on prior investments, including a $29.4 million gain from Voyager Technologies, resulting in a multiple on invested capital of 5.8 times and an internal rate of return of 59% [6] Business Line Data and Key Metrics Changes - Average loans increased by 12.7% to $36.4 billion, while average deposits increased by 10.7% to $55.6 billion, indicating solid organic growth [7] - Legacy UMB average loan balances increased by 15.3% on an annualized basis from the prior quarter, outperforming many peer banks [7] - Quarterly top line production reached a record of $1.9 billion in the second quarter, with strong growth in commercial and industrial (C&I) and commercial real estate (CRE) [9] Market Data and Key Metrics Changes - Total net charge-offs attributed to the legacy UMB portfolio were $9 million, or just 13 basis points of average UMB loans for the quarter [10] - Nonperforming loans to total loans improved by two basis points from the prior quarter to 26 basis points, with legacy UMB nonperforming loans at just 10 basis points [10] Company Strategy and Development Direction - The company is focused on leveraging its business model, which has proven effective in various economic environments, and is optimistic about future growth opportunities [4][5] - The company is actively working on integrating Heartland's operations and expects to see continued strong production from both legacy UMB and Heartland teams [22][24] - The company plans to continue aligning portfolios and expects that any resulting payoffs will not materially affect the balance sheet [28] Management's Comments on Operating Environment and Future Outlook - Management noted that borrower sentiment remains strong despite uncertainties, and they are focused on controllable factors [5] - The company expects charge-off levels to remain near or below historical averages in the second half of the year [10] - Management expressed confidence in the integration of Heartland and the potential for future growth from this acquisition [86] Other Important Information - The company completed a Series B preferred stock offering, netting $294 million of Tier one capital [11] - The CET1 ratio increased by 28 basis points to 10.39% as the company continues to rebuild capital following the acquisition [11] - The company made charitable contributions of $8.3 million in the quarter, significantly higher than $524,000 in the first quarter [16] Q&A Session Summary Question: Can you deconstruct the loan growth and its sources? - Management indicated that the loan production number aligns with expectations, with strong contributions from both Heartland and legacy UMB teams [22][24] Question: How much alignment is left to do between the two portfolios? - Management expects continued alignment without significant impact on payoff levels [28] Question: What is the impact of HSA changes under the new budget bill? - Management views it as a marginal opportunity, with a limited number of new eligible accounts [30][31] Question: What is the long-term expense growth rate post-integration? - Management indicated that they will achieve targeted cost savings from the acquisition and maintain positive operating leverage [32][33] Question: How much of the $124 million cost savings have been realized? - Management reported $17 million in quarterly savings so far, with more expected in the fourth quarter [41][42] Question: What is the outlook for deposit competition? - Management noted that they can grow commercial deposits easily but expect moderate growth in consumer deposits due to increased branch presence [72][74]

2nd Quarter 2025 Update Kansas City, MO July 29, 2025 Presentation Index | Corporate Overview & Investment Thesis | 3 | | --- | --- | | Purchase Accounting Update | 8 | | 2nd Quarter 2025 Results | 11 | | Line of Business Updates | 29 | | Long-Term Performance Trends | 40 | | Appendix | 48 | | Board of Directors | | | Forward-Looking Statements Non-GAAP Reconciliations | | | Peer Group | | Please refer to the Forward-Looking Statements on slide 50 for important disclosures about information contained in thi ...

UMB Financial (UMBF) came out with quarterly earnings of $2.96 per share, beating the Zacks Consensus Estimate of $2.35 per share. This compares to earnings of $2.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +25.96%. A quarter ago, it was expected that this bank holding company would post earnings of $2.21 per share when it actually produced earnings of $2.58, delivering a surprise of +16.74%.Over the last four quarters, ...

UMB Financial Corporation News Release 1010 Grand Boulevard Kansas City, MO 64106 816.860.7000 umb.com //FOR IMMEDIATE RELEASE// Media Contact: Stephanie Hollander: 816.729.1027 Investor Relations Contact: Kay Gregory: 816.860.7106 UMB Financial Corporation Reports Second Quarter 2025 Results Second Quarter 2025 Financial Highlights Exhibit 99.1 (i) A non-GAAP financial measure reconciled later in this release to the nearest comparable GAAP measure. • GAAP net income available to common shareholders of $215 ...

Core Viewpoint - The article compares Associated Banc-Corp (ASB) and UMB Financial (UMBF) to determine which stock is more attractive to value investors [1] Valuation Metrics - ASB has a forward P/E ratio of 10.37, while UMBF has a forward P/E of 11.83 [5] - ASB's PEG ratio is 1.13, compared to UMBF's PEG ratio of 1.29, indicating ASB may offer better value considering expected earnings growth [5] - ASB's P/B ratio is 0.95, while UMBF's P/B ratio is 1.26, suggesting ASB is undervalued relative to its book value [6] Earnings Outlook - ASB is currently experiencing an improving earnings outlook, which enhances its attractiveness in the Zacks Rank model [7] - ASB holds a Zacks Rank of 2 (Buy), while UMBF has a Zacks Rank of 4 (Sell), indicating a more favorable earnings estimate revision for ASB [3]

Group 1 - The article discusses UMB Financial Corporation's latest listed security, which is a 7.75% fixed-income security IPO [1] - The focus is on providing insights into the exchange-traded fixed-income security market [1] Group 2 - The article emphasizes that past performance does not guarantee future results, highlighting the inherent risks in investment [2] - It clarifies that no specific investment recommendations are being made, and opinions expressed may not reflect the views of the entire platform [2]

Core Viewpoint - The U.S. tariff situation is causing fluctuations in the market, impacting investor sentiment, while shares of UMB Financial have remained relatively stable since the initial analysis [1]. Company Analysis - UMB Financial (NASDAQ: UMBF) has shown flat performance in its stock price, indicating a potential stability amidst market volatility [1]. - The investment strategy focuses on a long-term, buy-and-hold approach, particularly favoring stocks that can deliver sustainable high-quality earnings, often found in the dividend and income sectors [1]. Market Context - The ongoing changes in U.S. tariffs are creating a mixed environment of optimism and despair among investors, which may influence stock performance across various sectors [1].

Financial Performance - The net income for the three months ended March 31, 2025, was $81,333 thousand, a decrease of 26.3% compared to $110,258 thousand for the same period in 2024[33]. - Basic net income per common share for Q1 2025 was $1.22, down from $2.27 in Q1 2024, reflecting a decline of 46.2%[33]. - Noninterest income for the three months ended March 31, 2025, totaled $166.198 million, up from $159.244 million in the same period of 2024, reflecting a growth of 4.4%[159]. - The total noninterest expense for the three months ended March 31, 2025, was $384.787 million, up from $254.804 million in the same period of 2024, representing an increase of 50.9%[159]. - The Commercial Banking segment reported a net income of $62.385 million for the three months ended March 31, 2025, compared to $82.178 million in the same period of 2024, a decrease of 24.2%[159]. - The Institutional Banking segment's net income was $50.043 million for the three months ended March 31, 2025, compared to $35.321 million for the same period in 2024, reflecting an increase of 41.7%[159]. - The Personal Banking segment reported a net loss of $31.095 million for the three months ended March 31, 2025, compared to a net loss of $7.241 million in the same period of 2024, indicating a worsening performance[159]. Asset and Loan Growth - As of March 31, 2025, cash and cash equivalents totaled $10,610,066 thousand, up from $6,943,108 thousand as of March 31, 2024, representing an increase of approximately 52.5%[28]. - As of March 31, 2025, the total loans amounted to $35,936.2 million, compared to $25,642.3 million on December 31, 2024, reflecting a significant increase[47]. - The total current loans increased to $35,762.1 million at March 31, 2025, from $25,603.9 million at December 31, 2024[47]. - Total loans amounted to $35,936.28 million, with a significant increase from $5,077.094 million in the previous year[52]. - The total amount of non-performing loans is monitored as part of the credit quality indicators, reflecting ongoing risk assessment[54]. - The company continues to focus on market expansion and new strategies to enhance loan offerings and customer engagement[52]. Credit Quality and Risk Management - The Company maintains an independent loan review department to continually assess and validate risk within its loan portfolio[38]. - The Company utilizes a risk grading matrix to continuously monitor credit risk across its loan portfolio[55]. - The company assigns risk ratings to borrowers based on their financial position, with categories including Pass, Special Mention, Substandard, and Doubtful[59]. - The company tracks individual borrower credit risk based on their loan to collateral position, with any borrower position where the underlying value of collateral is below the fair value of the loan considered higher risk[62]. - The company emphasizes the importance of economic conditions on the performance of non-owner-occupied commercial real estate loans, which are sensitive to local market factors[65]. - The company actively monitors credit quality indicators, which include changes in economic forecasts and updated financial records from borrowers[105]. Allowance for Credit Losses - The allowance for credit losses (ACL) is estimated based on historical credit loss experience and current loan-specific risk characteristics, with a focus on economic forecasts from Moody's[98]. - The ACL for Commercial and industrial loans was $192,146,000 as of March 31, 2025, up from $160,912,000 at the beginning of the period, reflecting a provision of $22,018,000[110]. - Total ACL for all segments reached $373,488,000 as of March 31, 2025, compared to $261,734,000 at the beginning of the previous year, indicating a significant increase in credit loss provisions[110]. - The ACL for Consumer segments is driven by the year of origination and macroeconomic variables such as unemployment and home price index[103]. Securities and Investments - As of March 31, 2025, the total fair value of securities available for sale was $10,895,659 thousand, an increase from $7,774,334 thousand as of December 31, 2024, representing a growth of 40%[117][118]. - The Company holds $5,717,330,000 in securities held to maturity, with unrealized losses of $(619,383,000) as of March 31, 2025, compared to $5,378,912,000 and $(642,009,000) as of December 31, 2024[126][129]. - The total investment securities (losses) gains, net for the three months ended March 31, 2025, was $(4.78) million, a decrease from $9.37 million in the same period of 2024[140]. - The Company has no allowance for credit losses related to available-for-sale securities as the decline in fair value did not result from credit issues[125]. Borrowings and Debt - As of March 31, 2025, total borrowed funds amounted to $654.4 million, an increase from $385.3 million as of December 31, 2024, reflecting a significant growth in long-term debt[144]. - The total long-term debt increased to $654.4 million as of March 31, 2025, driven by the acquisition activities and new issuances[144]. - The Company’s borrowing capacity with the FHLB was $1.6 billion as of March 31, 2025, indicating strong liquidity support[150]. Derivatives and Fair Value Measurements - The fair value of the company's assets measured at fair value as of March 31, 2025, was $11,237.155 million, with $1,910.925 million classified as Level 1 inputs and $9,326.230 million as Level 2 inputs[203]. - The estimated fair value of derivatives as of March 31, 2025, was $294,003,000, compared to $234,443,000 on December 31, 2024, reflecting an increase of approximately 25%[214][215]. - The company employs various valuation methods for financial instruments, including external appraisals and market comparisons, ensuring accurate fair value measurements[212].