Financial Performance - UMB Financial Corporation reported a net income of $209.5 million for Q4 2025, a 74.6% increase compared to Q4 2024[2] - Net operating income for Q4 2025 was $235.2 million, representing a 91.9% increase from Q4 2024[2] - Total revenues for Q4 2025 reached $720.9 million, a 66.0% increase year-over-year and a 6.3% increase from Q3 2025[2] - Net interest income for Q4 2025 was $522.5 million, up 94.3% from Q4 2024 and 10.0% from Q3 2025[2] - Noninterest income increased by 20.1% to $198.4 million compared to Q4 2024[2] - Net income for Q4 2025 reached $215.36 million, a 79.5% increase from $120.00 million in Q4 2024[43] - Net interest income for the year ended 2025 was $1.86 billion, compared to $1.00 billion in 2024, reflecting an 86% increase[42] - Net income available to common shareholders for the year ended 2025 was $684.62 million, up from $441.24 million in 2024, a 55% increase[42] - Total comprehensive income for the year ended December 31, 2025, was $1.01 billion, compared to $425.13 million in 2024, reflecting a significant growth[44] Asset and Loan Growth - Average loans increased by 51.6% year-over-year to $38.3 billion, with end-of-period loans at $38.8 billion[2] - Average loans for Q4 2025 were $38.34 billion with a yield of 6.69%, up from $25.29 billion and 6.46% in Q4 2024[45] - Average total assets for Q4 2025 were $69.6 billion, compared to $68.5 billion for the linked quarter and $45.0 billion for the same period in 2024[18] - Total assets increased to $73.09 billion in 2025, up from $50.41 billion in 2024, representing a 45% growth[41] - Total assets increased to $66,256,072 thousand in 2025 from $43,189,844 thousand in 2024, representing a growth of 53.5%[46] Deposit Growth - Average deposits rose 5.6% on a linked-quarter annualized basis to $57.6 billion, with end-of-period deposits at $60.7 billion[2] - Average deposits increased by 51.4% compared to Q4 2024, with average interest-bearing deposits up by 56.4%[13] - Average deposits rose by 1.4% on a linked-quarter basis and 51.4% compared to Q4 2024, totaling $57,553,600[24] - Total deposits rose to $60.66 billion in 2025, compared to $43.14 billion in 2024, marking a 41% increase[41] Efficiency and Profitability - The efficiency ratio improved to 55.5% from 61.8% in Q4 2024[2] - The efficiency ratio improved to 55.50% in Q4 2025 from 61.83% in Q4 2024, indicating enhanced operational efficiency[49] - Operating return on average assets (Non-GAAP) improved to 1.34% in Q4 2025 from 1.08% in Q4 2024, reflecting better asset utilization[48] - The company reported a net interest spread of 2.18% in 2025, up from 1.34% in 2024, indicating improved profitability on interest-earning assets[46] Credit Quality - Net charge-offs for Q4 2025 were $12.7 million, equating to 13 basis points of average loans, down from 20 basis points in Q3 2025[2] - Provision for credit losses increased to $25,000,000 in Q4 2025, up $2,500,000 from Q3 2025 and $6,000,000 from Q4 2024[31] - Nonaccrual loans increased to $144,666,000, representing 0.37% of total loans, primarily due to one legacy HTLF loan[31] - The provision for credit losses for the year ended December 31, 2025, was $154,500 thousand, up from $61,050 thousand in 2024, indicating a strategic increase in reserves[47] Shareholder Value - Book value per common share increased to $97.65 from $94.29 in Q3 2025 and $71.02 in Q4 2024[25] - The diluted earnings per common share (GAAP) for net interest income was $25.28 in 2025, up from $20.40 in 2024, representing a growth of 24%[50] - Dividends per common share increased to $1.63 for the year 2025, up from $1.57 in 2024[43] - Total common shareholders' equity (GAAP) as of December 31, 2025, was $7,417,284,000, compared to $3,466,541,000 in 2024, indicating a growth of 114%[51] Acquisition Impact - The acquisition of Heartland Financial was completed on January 31, 2025, contributing to the financial results[7] - Year-over-year, net interest income rose by $253.5 million, or 94.3%, due to a $21.5 billion increase in average earning assets, primarily from the HTLF acquisition[13] - Acquisition expenses for the year ended December 31, 2025, totaled $141,963,000, significantly higher than $16,250,000 in 2024[50]
UMB Financial Corporation(UMBFP) - 2025 Q4 - Annual Results