UMB(US:UMBF)2025-10-28 20:05Financial Performance - Net income available to common shareholders for Q3 2025 was $180.4 million, or $2.36 per diluted share, a 64.5% increase compared to Q3 2024[3]. - Net operating income available to common shareholders for Q3 2025 was $206.5 million, or $2.70 per diluted share, an 87.2% increase compared to Q3 2024[4]. - Net income for the three months ended September 30, 2025, was $188.32 million, up from $109.64 million, representing a 71.6% increase[43]. - The company reported a net income per common share of $2.38 for the third quarter of 2025, compared to $2.25 in 2024, a 5.8% increase[43]. - Comprehensive income for the nine months ended September 30, 2025, reached $735.251 million, compared to $482.325 million for the same period in 2024, reflecting a 52.4% increase[44]. Asset and Loan Growth - Average loans increased 8.0% on a linked-quarter annualized basis to $37.1 billion, and increased $12.8 billion, or 52.3%, compared to Q3 2024[4]. - Total assets at September 30, 2025, were $71.9 billion, up 51.3% from $47.5 billion as of September 30, 2024[4]. - Net loans reached $37.30 billion, a significant increase from $24.74 billion in the previous year, marking a 50.7% rise[42]. - Average total assets for Q3 2025 were $68.5 billion, compared to $66.9 billion for the linked quarter and $43.3 billion for the same period in 2024[19]. Income and Revenue - Total interest income for the three months ended September 30, 2025, was $878.90 million, compared to $557.69 million in 2024, reflecting a 57.6% increase[43]. - Year-over-year, net interest income rose by $227.7 million, or 92.0%, due to a $22.1 billion increase in average earning assets, primarily from the HTLF acquisition[14]. - Noninterest income increased 28.1% to $203.3 million compared to Q3 2024[4]. - Noninterest income for Q3 2025 increased by $44.6 million, or 28.1%, compared to the prior year, driven by increases in bank-owned life insurance income and trust and securities processing[16]. Efficiency and Ratios - The efficiency ratio improved to 58.1% compared to 61.7% in Q3 2024[4]. - Return on average assets for Q3 2025 was 1.04%, and return on average common equity was 10.14%[4]. - Operating return on average assets (Non-GAAP) was 1.20% for the three months ended September 30, 2025, compared to 1.01% for the same period in 2024, showing improved efficiency[49]. - The net interest margin for Q3 2025 was 3.04%, a decrease of six basis points from the linked quarter, attributed to higher yields on interest-bearing deposits and lower yields on loans[14]. Deposits and Capital - Average deposits increased 8.0% on a linked-quarter annualized basis to $56.8 billion, with end-of-period deposits at $60.1 billion[4]. - Total deposits grew to $60.14 billion, up from $39.70 billion, which is a 51.5% increase year-over-year[42]. - Common equity Tier 1 capital ratio was 10.70%, exceeding the "well-capitalized" regulatory threshold[28]. - Total equity as of September 30, 2025, was $7,443,950, an increase from $7,285,765 in Q2 2025 and $3,535,489 in Q3 2024[26]. Expenses and Provisions - GAAP noninterest expense for Q3 2025 was $419.3 million, an increase of $26.1 million, or 6.6%, from the linked quarter and $166.8 million, or 66.1%, from Q3 2024[17]. - Provision for credit losses increased by $1.5 million from the linked quarter and $4.5 million from Q3 2024, totaling $22.5 million[32]. - The provision for credit losses was $22.50 million for the third quarter of 2025, compared to $18.00 million in 2024, reflecting a 25.0% increase[43]. Acquisitions and Integration - The acquisition of Heartland Financial was successfully integrated into UMB's core systems in mid-October 2025[4]. - Goodwill increased to $1.84 billion as of September 30, 2025, from $207.39 million in 2024, indicating a substantial rise in intangible assets[42].