UMB(US:UMBF)2025-04-29 20:05Financial Performance - UMB Financial Corporation reported net income available to common shareholders of $79.3 million, or $1.21 per diluted share, for Q1 2025, down from $120.0 million, or $2.44 per diluted share, in Q4 2024[3]. - Total revenue for Q1 2025 was $563.8 million, an increase of $129.7 million from the linked quarter and $165.2 million from Q1 2024[10]. - Net income available to common shareholders decreased to $79.32 million in Q1 2025 from $110.26 million in Q1 2024, a decline of 28%[43]. - The company reported a net income of $81.33 million for Q1 2025, compared to $110.26 million in Q1 2024, showing a decrease of 26.3% year-over-year[47]. - The return on average assets (GAAP) decreased to 0.54% in Q1 2025 from 1.06% in Q1 2024, indicating a decline in asset efficiency[48]. Asset and Loan Growth - Average loans increased by 27.8% on a linked-quarter basis to $32.3 billion, and by 38.3% compared to Q1 2024, with end-of-period loans reaching $35.9 billion[5]. - Average total assets for Q1 2025 were $60.0 billion, compared to $45.0 billion for the linked quarter and $42.0 billion for the same period in 2024[21]. - Total assets increased to $69.35 billion in Q1 2025, up from $45.34 billion in Q1 2024, representing a growth of 53%[42]. - Net loans rose to $35.57 billion, compared to $23.41 billion in the previous year, marking a 52% increase[42]. - Average total securities increased by 19.1% on a linked-quarter basis and 21.9% compared to Q1 2024, reaching $15.9 billion[23]. Deposit Growth - Average deposits rose by 32.3% on a linked-quarter basis to $50.3 billion, with end-of-period deposits totaling $58.5 billion[5]. - Total deposits for Q1 2025 were $50.3 billion, reflecting a 32.3% increase on a linked-quarter basis and a 50.0% increase compared to Q1 2024[24]. - Total deposits grew to $58.52 billion, up from $36.91 billion, representing a 58% increase[42]. Interest Income and Margin - Net interest income for Q1 2025 was $397.6 million, an increase of 47.8% from the linked quarter, driven by the HTLF acquisition and legacy UMB growth[11]. - Total interest income for Q1 2025 was $737.97 million, a 42% increase from $520.07 million in Q1 2024[43]. - Net interest income after provision for credit losses was $311.64 million, up from $229.43 million, reflecting a 36% increase[43]. - The net interest margin improved to 2.96%, up 39 basis points from the linked quarter, reflecting higher loan yields and a decrease in the cost of interest-bearing liabilities[11]. - The net interest margin improved to 2.96% in Q1 2025 from 2.48% in Q1 2024, indicating better asset yield management[46]. Noninterest Income and Expenses - Noninterest income increased by $1.0 million, or 0.6%, on a linked-quarter basis, primarily due to higher service charges on deposits and bankcard income[14]. - Noninterest income totaled $166.20 million, slightly up from $159.24 million, indicating a 4% increase year-over-year[43]. - GAAP noninterest expense for Q1 2025 was $384.8 million, an increase of $114.4 million, or 42.3%, from the linked quarter and $130.0 million, or 51.0%, from Q1 2024[17]. - Noninterest expense rose significantly to $384,787,000 in Q1 2025 compared to $254,804,000 in Q1 2024, marking a 50.9% increase[49]. Credit Quality and Provision for Losses - Net charge-offs for Q1 2025 totaled $35,872 thousand, representing 0.45% of average loans, compared to $8,935 thousand or 0.14% in Q4 2024[27][31]. - Provision for credit losses rose to $86,000 thousand in Q1 2025, a significant increase of $67,000 thousand from the linked quarter[31]. - Provision for credit losses in Q1 2025 was $86.00 million, significantly higher than $10.00 million in Q1 2024, indicating increased risk management measures[47]. - Nonaccrual and restructured loans amounted to $100,885 thousand, representing 0.28% of total loans as of Q1 2025[27]. Capital and Shareholder Returns - Total equity increased to $6,748,434 thousand as of March 31, 2025, up from $3,466,541 thousand in the previous year[25]. - Common equity Tier 1 capital ratio decreased to 10.11% as of March 31, 2025, down from 11.29% in the previous quarter[25]. - The company declared a quarterly cash dividend of $0.40 per share, payable on July 1, 2025[28]. - The company approved a share repurchase program for up to 1,000,000 shares of common stock[29]. - Total common shareholders' equity (GAAP) rose to $6,637,730,000 as of March 31, 2025, compared to $3,152,816,000 in 2024, an increase of 110.4%[51].