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, 2023 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 juri ...

Financial Data and Key Metrics Changes - For the full year of 2023, net income was $350 million or $7.18 per share, with adjusted net operating income at $397.1 million or $8.14 per share [16] - In Q4, net interest income increased by $8.2 million to $230.5 million, driven by loan growth and repricing, with net interest margin at 2.46%, up 3 basis points from the previous quarter [38][44] - Total revenue for Q4 increased by 4.3% from the linked quarter, with positive operating leverage of 1.3% on a linked quarter basis [34] Business Line Data and Key Metrics Changes - Average loan balances increased by 6.3% on an annualized basis from Q3 to $23.1 billion, with strong growth in construction and commercial real estate [18] - Noninterest income for Q4 was $148.3 million, representing 38% of total revenue, significantly higher than the 17% median reported by peers [45] - Average deposits increased by 17.2% on an annualized basis from Q3, led by commercial customers [43][50] Market Data and Key Metrics Changes - The company reported a 11% decrease in classified loans and nonperforming loan levels improved to 6 basis points [32] - The unrealized loss position in the combined securities book improved to $1.1 billion, down from 14% in the previous quarter [55] - The company expects loan yields to continue benefiting from repricing and higher yields on new origination [53] Company Strategy and Development Direction - The company remains focused on operating leverage despite challenges from elevated interest expenses and the interest rate environment [12] - The management expressed confidence in the company's diversified business model and its ability to weather economic cycles [37] - The company plans to continue deploying cash flows from the securities portfolio into loans, with expectations of maintaining strong loan growth [44][70] Management's Comments on Operating Environment and Future Outlook - Management noted a muted but resilient macro environment for 2024, with expectations of modest compression in net interest income due to seasonal factors [64] - The company anticipates that loan growth in Q1 2024 looks stronger than in Q4 2023, indicating positive momentum [80] - Management emphasized the importance of maintaining a strong capital position and high-quality loan portfolio [37] Other Important Information - The company recognized a $52.8 million FDIC special assessment in Q4, impacting net income [15][57] - The effective tax rate for 2023 was 17%, with expectations for a similar rate in 2024 [66] Q&A Session Summary Question: How do you view the NII sensitivity and potential offsets? - Management acknowledged a projected 3.1% impact to NII from a 100 basis point decline in rates, but noted potential offsets from loan and deposit growth [14] Question: Can you discuss the trends in criticized classified loans and charge-offs? - Management reported low charge-offs and indicated that they do not foresee significant deterioration in their office portfolio, which remains strong [22][83] Question: What are the expectations for loan growth in 2024? - Management expressed confidence in outperforming peers in loan growth, driven by market share gains and a strong pipeline entering 2024 [70][77]

FORM 10-Q (MARK ONE) ☒ QUARTERLY 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 For the quarterly period ended September 30, 2023 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 | | --- ...

UMB Financial Corporation (NASDAQ:UMBF) Q3 2023 Earnings Conference Call October 25, 2023 9:30 AM ET Company Participants Kay Gregory - IR Mariner Kemper - President and CEO Ram Shankar - CFO Tom Terry - Chief Credit Officer Conference Call Participants Nathan Race - Piper Sandler Chris McGratty - KBW Timur Braziler - Wells Fargo Securities Nathan Race - Piper Sandler Operator Hello, and welcome to today's UMB Financial Third Quarter 2023 Financial Results Conference Call. My name is Elliot, and I'll be coo ...

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, 2023 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 | | --- | --- | | ...

Financial Data and Key Metrics Changes - GAAP net income for Q2 2023 was $90.1 million or $1.85 per share, while operating net income was $93.8 million or $1.93 per share [7] - Net interest income decreased from the first quarter due to increased deposit costs and liability mix shifts, despite strong loan growth and improved asset yields [7][8] - Net interest margin for Q2 was 2.44%, a decrease of 32 basis points from the linked quarter [14] Business Line Data and Key Metrics Changes - Average quarterly loan growth was 17.3% on a linked quarter annualized basis, with strong asset quality reflected in net recoveries of $139,000 for the quarter [8] - Nonperforming loans were just 0.09% of total loans as of June 30, with a provision for credit losses of $13 million for the quarter [8][9] - Total top line loan production was $986 million, with commercial and industrial lending being a significant driver of growth [10] Market Data and Key Metrics Changes - Average total deposits decreased by $87 million or 1.1% on an annualized basis from the first quarter to $31.5 billion [12] - Deposits stood at $33.5 billion at the end of June, an increase of 5% from March 31 [14] - The cost of total deposits for the quarter was 2.17%, compared to 1.62% in the first quarter [15] Company Strategy and Development Direction - The company aims to maintain flexibility on the asset side of the balance sheet, with a lower loan-to-deposit ratio compared to peers [5] - Focus remains on disciplined pricing of loans and controlling operating expenses while navigating the elevated interest rate environment [6] - The company is pursuing growth opportunities in various lending verticals while maintaining a strong capital and liquidity position [22] Management's Comments on Operating Environment and Future Outlook - Management noted that the economy remains resilient, with expectations that the bulk of the tightening cycle may be behind [6] - There is uncertainty regarding how long the Federal Reserve will maintain elevated rates, but the company remains focused on growth [6] - Management anticipates some modest margin compression in the third quarter due to the timing of the July rate hike [17] Other Important Information - The effective tax rate for Q2 was 18.1%, down from 20.8% in the same period last year, primarily due to a larger portion of income on tax-exempt securities [19] - The company recorded $7.4 million in additional salary and bonus expenses, largely driven by severance costs and higher salaries [18] Q&A Session Summary Question: What is the outlook for net interest income (NII) growth? - Management indicated mid-single-digit growth for NII is reasonable, but many variables could affect this outlook [25][26] Question: How is the company managing deposit pricing pressures? - Management believes they have experienced most of the pain from deposit pricing increases and expects the rate of increase to level off [33] Question: What is the company's strategy regarding capital return? - The company has share repurchase authorization but currently prioritizes loan growth over capital return [30][31] Question: How does the company view the competitive landscape for lending? - Management noted that competitors are pulling back, creating opportunities for the company, which continues to see a strong pipeline [42]

| --- | --- | --- | --- | |-----------------|--------|--------------|---------------| | | | | | | | 2nd | | | | | Update | Quarter 2023 | | | | | | | | Kansas City, MO | | | July 25, 2023 | Presentation Index Corporate Overview 3 Opportunity – Our Investment Thesis 8 2nd Quarter 2023 Results 17 Line of Business Updates 34 Appendix 45 Board of Directors Forward-Looking Statements Non-GAAP Reconciliations Peer Group Please refer to the Forward-Looking Statements on slide 47 for important disclosures about inf ...

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, 2023 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 | | --- | --- | | ...

Financial Data and Key Metrics Changes - Net income for Q1 2023 was $92.4 million or $1.90 per share, with operating pre-tax pre-provision EPS at $2.78, up from $2.44 in Q1 2022 [12][20] - Net interest income decreased by 1.4% compared to the previous quarter, with a net interest margin of 2.76%, down seven basis points [13][14] - Average deposit growth was 2.4% and average loan growth was 19.3% on a linked quarter annualized basis [6][9] Business Line Data and Key Metrics Changes - Total loan production for the quarter was $934 million, with commercial real estate and construction growth primarily from industrial and multi-family categories [7][8] - Non-interest income was reported at $130.2 million, with significant contributions from corporate trust and private wealth services [16][48] - Non-performing loans improved to 0.07% of total loans, with net charge-offs at just 0.09% of average loans [6][18] Market Data and Key Metrics Changes - The company reported a liquidity coverage of approximately 116% of uninsured deposits as of April 20 [11][23] - The average size of office credits in the portfolio is $8.2 million, with 82% being recourse loans and a weighted average loan-to-value of approximately 65% [8][52] Company Strategy and Development Direction - The company aims to maintain a disciplined approach to pricing and emphasize lending that comes with deposit relationships [9][15] - There is a focus on enhancing asset pricing discipline and leveraging the diverse deposit base to mitigate risks associated with rising deposit costs [11][15] - The company is positioned to benefit from a flattening yield curve and anticipates mid-single digit growth in net interest income year-over-year [16][41] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by inflation, changes in the yield curve, and deposit beta acceleration due to recent market volatility [4][5] - The company expects to continue seeing opportunities across various verticals despite anticipated economic slowdowns [9][41] - Management expressed confidence in the quality of the loan portfolio and the proactive measures taken to manage credit risk [6][18] Other Important Information - The effective tax rate for Q1 2023 was 17.2%, up from 15.7% in Q1 2022, primarily due to excess tax benefits related to equity-based compensation [20] - The company has a diverse deposit base, with 55% of deposit accounts spanning 10 years or more, and plans to further reduce uninsured deposits [11][12] Q&A Session Summary Question: What is the expected floor for DDA as a percentage of total deposits? - Management expects to maintain overall balances, with a potential slight movement from the current 38% due to higher interest rates, but does not anticipate significant changes [24][25][26] Question: What is the expected peak beta for overall cost of deposits? - The company anticipates the total cost of beta to be around 40% [27] Question: How quickly can rate cuts pass through to margin? - Historically, deposits move faster on the way down, which could benefit the company in future rate cuts [29] Question: What is the outlook for the office CRE portfolio? - The office portfolio is only 4.5% of total loans, with strong borrowers and low loan-to-values, and management does not foresee significant issues [30][31][52] Question: How does the recent ratings boundary affect deposits? - There was a brief disruption post-SVB failure, but the company has since recovered and does not expect long-term impacts [36] Question: What are the growth assumptions for net interest income in 2023? - The guidance includes one more Fed rate hike in May, with expectations for mid-single digit growth in net interest income [37][43] Question: What are the dynamics behind the recent short-term debt increase? - The increase in short-term debt was a precautionary measure, with plans to evaluate and normalize levels based on the current environment [43][44] Question: What are the growth drivers in fund services and corporate trust? - Growth is driven by multi-year investments and strong performance in private equity and corporate trust services [47][48]

| --- | --- | --- | |-----------------|--------------|----------------| | | | | | | Quarter 2023 | | | | | | | Kansas City, MO | | April 25, 2023 | Presentation Index Corporate Overview 3 Opportunity – Our Investment Thesis 8 1st Quarter 2023 Results 17 Line of Business Updates 34 Appendix 45 Board of Directors Forward-Looking Statements Non-GAAP Reconciliations Peer Group Please refer to the Forward-Looking Statements on slide 47 for important disclosures about information contained in this presentation. 2 ...