Kansas City, MO 3rd Quarter 2022 Update October 25, 2022 Presentation Index | --- | --- | |----------------------------------------|-------| | Corporate Overview | 3 | | Opportunity – Our Investment Thesis | 8 | | 3 rd Quarter 2022 Results | 17 | | Line of Business Updates | 31 | | Appendix | 41 | | Board of Directors | | | Forward-Looking Statements | | | Non-GAAP Reconciliations | | | Peer Group | | Please refer to the Forward-Looking Statements on slide 43 for important disclosures about information cont ...

Financial Data and Key Metrics Changes - Net income for the quarter was $137.6 million or $2.83 per share, with operating pre-tax pre-provision income at $187.1 million or $3.84 per share [7] - There was a 23% linked quarter annualized increase in average loans and a 6.9% linked quarter increase in net interest income [6][17] - Net interest margin expanded by 25 basis points from the prior quarter, driven by asset repricing and favorable mix shift in earning assets [13][19] Business Line Data and Key Metrics Changes - Private wealth brought in nearly $750 million in new assets year-to-date, significantly outpacing 2021 full-year sales of $836 million [8] - Loan production was strong at $1.3 billion for the quarter, with phenomenal growth in commercial and industrial (C&I) loans, increasing nearly 30% on a linked-quarter annualized basis [10] - Average residential mortgage balances increased 27% over the second quarter of last year, with strong activity in the down payment assistance program [11] Market Data and Key Metrics Changes - Average total deposits for the quarter decreased 3% or 12.2% on an annualized basis compared to the first quarter, while average demand deposit account (DDA) balances increased slightly [12] - The total cost of deposits increased to 20 basis points, up from 8 basis points last quarter [18] - Non-performing loans declined 84% from the prior quarter to 10 basis points of total loans, indicating strong portfolio performance [15] Company Strategy and Development Direction - The company announced the acquisition of Old National Bancorp's HSA business, which will complement organic growth efforts [9] - The focus remains on managing net interest spread and margin while funding organic loan growth [21] - The company is strategically reclassifying securities to the held-to-maturity portfolio to manage tangible capital and reduce the impact of rising rates on equity [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong loan growth, with expectations for above-average growth in the third quarter [44][56] - The management noted that while there are macroeconomic uncertainties, they expect to return to historical charge-off levels of 27 to 30 basis points [36][44] - The company anticipates stable to slightly growing deposit levels, supported by the ability to bring on off-balance sheet deposits [47] Other Important Information - The company made a one-time contribution of $5 million to its charitable foundation, included in other expenses [7] - The effective tax rate for the second quarter was 20.8%, with an anticipated full-year rate between 19% and 21% [26] Q&A Session Summary Question: How is the company thinking about funding continued strong loan growth? - Management indicated that they can bring on off-balance sheet deposits and are not worried about deposit levels, focusing on managing spread and margin expansion [32] Question: Can you provide details on the $27.7 million charge-off? - The charge-off was related to a single commercial credit in bankruptcy, and management expects to return to historical charge-off levels [36][44] Question: What are the expectations for operating expenses in the back half of 2022? - Management provided a run rate of $217 million to $218 million for operating expenses, factoring in various adjustments [40] Question: How does the company view loan growth in the back half of 2022? - Management expects favorable loan growth across all categories and regions, with no significant downturn anticipated [54][56] Question: What is the outlook for brokerage fees moving forward? - Management noted that brokerage fees could see modest increases depending on off-balance sheet deposits and market conditions [62]

(MARK ONE) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR For the transition period from to Commission file number 001-38481 UMB FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) | Missouri | 43-0903811 | | --- | --- | | ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 March 31, 2022 OR For the transition period from to Commission file number 001-38481 UMB FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) | Missouri | | 43-0903811 | | --- | --- | ...

Financial Data and Key Metrics Changes - The company reported net income of $106 million or $2.17 per share for Q1 2022, with pretax pre-provision income on an FTE basis at $125.7 million or $2.57 per share [6] - Net interest income was relatively flat at $210.4 million compared to the previous quarter, impacted by a reduction in PPP income and fewer days in the quarter [19][22] - Non-interest income totaled $123.7 million, an increase of 4.1% compared to the fourth quarter [6][28] - Total non-interest expense decreased by 3.5% on a linked-quarter basis [9][29] Business Line Data and Key Metrics Changes - Average loans excluding PPP balances increased by 15.6% year-over-year and more than 19% on a linked-quarter annualized basis [10] - Commercial and Industrial (C&I) balances grew by 35% on a linked-quarter annualized basis [10] - Average residential mortgage balances grew by 4.4% from the fourth quarter [11] - Non-interest expense trends showed a decrease driven by reductions in variable costs such as incentive compensation [29] Market Data and Key Metrics Changes - Average deposit balances increased nearly 12% on a linked-quarter annualized basis [15] - The average loan-to-deposit ratio remained low at just 53% for the first quarter, providing flexibility in a rising rate environment [15][82] Company Strategy and Development Direction - The company aims to leverage its strong loan growth and maintain a focus on regulatory capital ratios, which remain strong [27] - The strategy includes opportunistic M&A and maintaining a quarterly dividend of $0.37 per share [16][104] - The company is positioned well in the fund services and corporate trust sectors, anticipating growth driven by private equity and government spending [52][55] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the loan pipeline for the second quarter, expecting stronger gross loan production than in the first quarter [12][45] - Concerns were raised about the economic environment and potential recession, with a desire to maintain reserves around current levels [96][98] - The company is monitoring deposit betas closely in a rising rate environment, with historical averages around 50% [34][41] Other Important Information - The company transferred securities with a fair value of $2.9 billion from the AFS to HTM book to manage tangible capital [25] - The effective tax rate for the first quarter was 15.7%, with an anticipated range of 17% to 19% for the full year [29] Q&A Session Summary Question: Funding outlook in a rising rate environment - Management indicated flexibility in funding growth due to a low loan-to-deposit ratio and cash flow from securities [33] Question: Deposit betas in a rising rate environment - Management noted that deposit betas will depend on actions taken by larger banks and historical averages suggest a beta around 50% [34][41] Question: Growth in the C&I sector - Management highlighted strong utilization across various industries, particularly in energy and agribusiness [39][88] Question: Concerns about deposit base stability - Management acknowledged the uncertainty regarding excess liquidity and the potential for disintermediation from DDAs to other deposit types [80][82] Question: Trajectory of reserves and charge-offs - Management expressed a desire to maintain reserves around current levels, with concerns about the economic outlook impacting future charge-offs [96][98] Question: Capital deployment and buyback appetite - Management emphasized investing in business growth first, followed by M&A opportunities, and opportunistic buybacks as a last resort [103][105]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2021 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) Missouri 43-0903811 (State or other jurisdic ...

WSFS Financial Corporation 1 4Q 2021 Investor Update January 2022 WSFS bank We Stand For Service Forward Looking Statements & Non-GAAP Forward Looking Statements: This presentation contains estimates, predictions, opinions, projections and other "forward-looking statements" as that phrase is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, without limitation, references to the Company's predictions or expectations of future business or financial performance as well a ...

Financial Data and Key Metrics Changes - In Q4 2021, net income was $78.5 million or $1.61 per share, with pretax, pre-provision income on an FTE basis at $113.4 million or $2.32 per share [13] - Net interest income for Q4 was $210.6 million, relatively flat compared to Q3, with a reported net interest margin (NIM) falling 15 basis points to 2.37% [23][26] - Non-interest income for Q4 was $118.8 million, an increase of $10.9 million from Q3, driven by market fluctuations and increased derivative income [30] Business Line Data and Key Metrics Changes - Fund services total assets under administration grew nearly 25% year-over-year to $419 billion, with custody assets surpassing $150 billion [14] - In Private Wealth, new asset sales increased 17% over the prior year, indicating strong growth in this segment [15] - Average loans for Q4, excluding PPP balances, increased nearly 13% year-over-year and nearly 6% on a linked quarter annualized basis [16] Market Data and Key Metrics Changes - Average C&I loans increased 12% on a linked quarter annualized basis, reflecting strong pipelines and backlogs across most industries [17] - Average residential mortgage balances grew 6.5% from Q3, with a nearly 26% annualized increase [18] - Total top-line loan production reached a record $1.4 billion for the quarter, with payoffs and paydowns at 5.6% of loans [19] Company Strategy and Development Direction - The company aims to generate positive operating leverage in 2022, excluding the impact of PPP, and is focused on prudent investments in people and platforms [12][35] - Management is optimistic about benefiting from anticipated economic expansion and higher interest rates, expecting to capture more than its fair share of growth [9] - The company is positioned to take advantage of market disruptions in fund servicing and private equity, indicating a strong long-term outlook [66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued loan growth despite challenges from supply chain and labor issues, with clients showing interest in expansion [17] - The company anticipates that net interest margin has bottomed out and will likely improve with expected rate hikes in 2022 [28] - Management highlighted the resilience of the team and the positive trajectory for 2022, despite ongoing pandemic challenges [22] Other Important Information - The company experienced higher operating expenses in Q4 due to increased incentive compensation and charitable contributions, with expectations for these expenses to reset lower in Q1 [10][34] - The effective tax rate was 20.2% for Q4 and 17.7% for the full year 2021, with an anticipated rate of 17% to 19% for 2022 [35] Q&A Session Summary Question: Clarification on margin guidance - Management clarified that the 2.4% margin guidance is for the full year 2022, influenced by various factors [39] Question: Insights on C&I utilization rates - Management noted that utilization rates have fluctuated and are difficult to predict, with historical rates around 30% pre-COVID [40][42] Question: Expectations for deposit stickiness - Management indicated that significant deposit growth was influenced by public funds and institutional dollars, with expectations for some outflows in Q1 [56] Question: Rate sensitivity and NII benefits - Management stated that 55% of total loans are variable, with a potential NII benefit of 1% for a 100 basis point rate increase in the first year [85] Question: Sustainability of fund services growth - Management expressed confidence in the sustainability of fund services growth due to ongoing market disruptions and a shift towards private equity [64][66]

Financial Performance - Total net income for the three months ended September 30, 2021, was $94,467,000, compared to $73,092,000 for the same period in 2020, marking a significant increase of 29.2%[145]. - The company recorded net income of $274.5 million for the nine-month period ended September 30, 2021, a 110.5% increase from $130.2 million in the same period of 2020[231]. - Basic earnings per share for the nine-month period ended September 30, 2021 were $5.69, compared to $2.70 for the same period in 2020, representing a 110.7% increase[231]. - For the three months ended September 30, 2021, net interest income was $209,765,000, an increase from $184,384,000 in the same period of 2020, representing a growth of 13.8%[145]. - Net interest income for the nine-month period ended September 30, 2021 increased by $68.4 million, or 12.7%, compared to the same period in 2020[232]. Loan Portfolio and Credit Quality - Total loans as of September 30, 2021, amounted to $16,469,463 thousand, an increase from $16,103,651 thousand as of December 31, 2020[45]. - Nonaccrual loans with no related allowance for credit losses totaled $91,900 thousand at September 30, 2021, compared to $42,100 thousand at December 31, 2020, representing a 118.5% increase[47]. - Total past due loans amounted to $115,413 thousand as of September 30, 2021, compared to $99,644 thousand at December 31, 2020, reflecting a 15.83% increase[45]. - The company continues to monitor credit quality indicators, including trends in net charge-offs and non-performing loans, to assess the overall health of its loan portfolio[52]. - The company tracks individual borrower credit risk based on their loan to collateral position, with any borrower position where the collateral value is below the loan's fair value considered higher risk[61]. Allowance for Credit Losses - The allowance for credit losses (ACL) at the end of September 30, 2021, was $194,156,000, compared to $200,563,000 at the beginning of the period, reflecting a decrease of approximately 3%[110]. - The ACL for Commercial & Industrial loans is calculated using a probability of default (PD) and loss given default (LGD) method, with primary risk drivers being risk ratings and macroeconomic variables[99]. - The provision for credit losses for the three months ended September 30, 2021, was a reversal of $5,000,000 compared to a provision of $16,000,000 in the same period of 2020, indicating improved credit quality[145]. - The ACL for Consumer real estate and Consumer segments is measured using an origination vintage loss rate method, focusing on the year of origination and macroeconomic factors like unemployment[102]. - The allowance for credit losses (ACL) increased to $214,494 million as of September 30, 2021, from $203,605 million at the beginning of the period, reflecting a provision of $16,000 million[112]. Securities and Investments - Securities available for sale had a fair value of $11.163 billion as of September 30, 2021, up from $9.300 billion at December 31, 2020[119]. - The mortgage-backed securities portfolio was valued at $7.370 billion with unrealized losses of $66.164 million as of September 30, 2021[119]. - The company had no Allowance for Credit Losses (ACL) related to available-for-sale securities as of September 30, 2021, indicating no credit issues[125]. - The total amount of other securities decreased from $296,053 thousand as of December 31, 2020, to $274,645 thousand as of September 30, 2021[135]. - The total accrued interest on securities available for sale totaled $35.8 million as of September 30, 2021, down from $42.6 million at December 31, 2020[122]. Economic Conditions and Market Impact - The Company expects continued volatility in economic markets due to the COVID-19 pandemic, which may impact its balance sheet and income statement[227]. - The company emphasizes the importance of economic conditions on the performance of commercial real estate loans, particularly for non-owner-occupied properties[66]. - The company continues to assess the impact of economic cycles on loan performance, particularly for longer-term loans[75]. - The Company has a dynamic reasonable and supportable forecast period for credit losses that currently stands at one year due to economic conditions[97]. - The company reported a beginning balance of ACL of $218,583 million for the nine months ended September 30, 2020, indicating a significant increase in credit loss provisions compared to previous periods[113]. Shareholder Equity and Capital Management - Total shareholders' equity reached $3.1 billion as of September 30, 2021, an increase of $258.7 million, or 9.1%, from the previous year[229]. - The total risk-based capital ratio was 14.17% as of September 30, 2021, positively impacted by a $200 million subordinated note issuance in Q3 2020[229]. - The Company repurchased 2,035 shares of common stock at an average price of $88.76 per share during Q3 2021[229]. - Average assets for the three months ended September 30, 2021, were $35,873,000,000, compared to $29,481,000,000 in the same period of 2020, representing an increase of 21.7%[145]. - The Company aims to improve operating efficiencies and has identified ongoing efficiencies that will contribute to improved operating leverage[225].

Financial Data and Key Metrics Changes - For Q3 2021, net income was $94.5 million or $1.94 per share, with pretax pre-provision income on an FTE basis at $115.3 million or $2.37 per share [10] - Net interest income increased by 4.3% from the previous quarter, driven by strong earning asset growth and controlled liability costs [11] - Net interest margin decreased to 2.52% from 2.56% in the prior quarter, influenced by elevated liquidity levels and re-pricing [11][28] - Non-interest income for the third quarter was $107.9 million, down $23.7 million from the last quarter, primarily due to market-related adjustments [34] Business Line Data and Key Metrics Changes - Average loan growth was 15.3% on a linked-quarter annualized basis, excluding PPP balances [8] - Average mortgage balances increased by 7.4% from the second quarter to $1.8 billion, with funded mortgage loans for the quarter at $236 million [15] - Fund services income and bank card fees increased by 8.5% and 7.1% respectively, while trading and investment banking income fell due to lower trading volumes [12] Market Data and Key Metrics Changes - The company reported strong loan growth driven by pricing and customer demand, despite supply chain dynamics and rising material costs affecting businesses [9] - The hotel and senior living portfolios stood at a combined $885 million, representing 5.5% of loans excluding PPP, with $419 million under closer monitoring [17] Company Strategy and Development Direction - The company aims to support strong organic growth while also looking for strategic acquisition opportunities, recently announcing a single branch acquisition in the Kansas City market [21] - The formal launch of the Family Wealth offering focuses on providing entrepreneurial investment strategies and sophisticated tax planning for wealthy families [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the loan growth outlook, anticipating strong pipelines despite potential payoffs and paydowns [42] - The company expects charge-offs to remain within historical levels of 25 to 30 basis points for the full year of 2021 [49] - Management noted that while wage inflation is present, voluntary turnover rates remain stable, indicating a strong company culture [74] Other Important Information - The company reported an improvement in total capital ratios, with total capital at 14.17% compared to 13.84% in the previous quarter [20] - The tangible book value per share increased nearly 10% over the past 12 months to $60.44 at September 30 [36] Q&A Session Summary Question: Loan growth outlook and impact of PPP - Management expects strong loan growth to continue, with unknown payoffs and paydowns impacting the outlook [42] Question: Lending relationships with PE firms - The company participates in M&A driven PE lending, focusing on acquisition debt [43] Question: Loan yields and competitive environment - Management indicated that the competitive environment remains aggressive, with loan yields near the bottom [44][46] Question: Fee income growth expectations - Fee income growth is anticipated to remain in the low to mid-single digit range, with strong growth in fund services and corporate trust areas [57] Question: Operational losses in the third quarter - Operational losses are typical business operating losses and not regulatory in nature [65] Question: Deposit growth sustainability - Management believes that a significant portion of deposit growth is sustainable due to the complexity of their business lines [70] Question: Wage inflation and employee retention - Management acknowledged wage inflation but noted that voluntary turnover rates have remained stable [74]