EX-99.1 2 rrd289313_33186.htm 3Q 2010 EARNINGS RELEASE DC9495.pdf -- Converted by SEC Publisher 4.2, created by BCL Technologies Inc., for SEC Filing

UMB Financial Corporation

News Release

1010 Grand Boulevard
Kansas City, MO 64106
816.860.7000
umb.com
//FOR IMMEDIATE RELEASE//

Media Contact: Mandie Nelson, 816.860.5088

Investor Relations Contact: Abby Wendel, 816.860.1685

UMB Financial Corporation Reports Third Quarter Earnings of $22.8 Million, or $0.57 per Diluted Share

Selected financial highlights:

·      Average loans increased 4.9 percent to $4.6 billion
 
·      Nonperforming loans were $25.0 million, or 0.55 percent of loans of $4.6 billion
 
·      Average total deposits increased 10.9 percent to $8.3 billion
 
·      Average noninterest bearing deposits increased 18.0 percent
 
·      Noninterest income increased 11.9 percent to $90.1 million
 
·      Total Assets Under Management were $16.5 billion, up 46 percent
 
·      Tier 1 capital ratio remains strong at 12.6 percent
 

Kansas City, Mo. (October 27, 2010) – UMB Financial Corporation (NASDAQ: UMBF), a financial services holding company, announced earnings for the three months ended September 30, 2010 of $22.8 million or $0.57 per share ($0.57 diluted). This is a decrease of $1.2 million, or 5.1 percent, compared to third quarter 2009 earnings of $24.0 million or $0.60 per share ($0.59 diluted). Earnings for the nine months ended September 30, 2010 were $72.0 million or $1.80 per share ($1.78 diluted). This is an increase of $6.3 million, or 9.7 percent, compared to the prior year-to-date earnings of $65.6 million or $1.62 per share ($1.61 diluted).

“Our strong results for the third quarter demonstrate continued successful execution on our business model, which is built on quality, revenue diversity, and stability,” noted Mariner Kemper, Chairman and Chief Executive Officer. “Actual loans increased 6.2 percent, and total revenue was 7.7 percent higher, fueled by an 11.9 percent increase in noninterest income, compared to the third quarter 2009. We are very pleased with these results considering we remain in the midst of a slow economic recovery. Although expenses also advanced this quarter, approximately 40 percent of the increase reflects investments we’re making in acquisitions to drive long term shareholder value. Over time, we expect operating leverage on these investments to improve as we continue to gain scale in our fee businesses.”

Net Interest Income and Margin

Net interest income for the third quarter of 2010 increased $2.5 million, or 3.3 percent, compared to the same period in 2009. Average earning assets increased by $1.1 billion, or 11.8 percent, compared to the third quarter of 2009. This increase was due to a $978.1 million, or 23.3 percent, increase in average total securities, including trading securities. Net interest margin decreased 28 basis points to 3.23 percent for the three months ended September 30, 2010 compared to the same quarter in 2009.

Noninterest Income and Expense

Noninterest income increased $9.6 million, or 11.9 percent, for the three months ended September 30, 2010 compared to the same period in 2009. This increase is primarily attributed to increased trust and

securities processing income of $7.2 million, or 22.1 percent, for the three months ended September 30, 2010 compared to the same period in 2009. This increase was primarily due to a $3.2 million, or 36.0 percent, increase in advisory fee income from the Scout Funds, a $1.8 million, or 12.9 percent, increase in fund administration and custody services, and $1.6 million of fee revenue from the newly acquired Prairie Capital Management, LLC. Bankcard fees increased $2.9 million, or 24.7 percent, compared to the third quarter of 2009 from increased processing fee income. Gains of $0.8 million on securities available for sale were recognized in the third quarter of 2010 compared to $3.3 million during the same period in 2009.

Noninterest expense increased $15.4 million, or 13.3 percent, for the three months ended September 30, 2010 compared to the same period in 2009. The primary driver of this increase is higher salary and benefits expense of $8.9 million, or 14.7 percent, due to higher base salary, commission, and health insurance costs. Of this increase in salary and benefits expense, approximately $3.7 million, or 41.6 percent, is related to salary and benefits from acquisitions. Processing fees increased $1.9 million, or 19.8 percent. The processing fees increase, which is correlated to the increase in trust and securities processing income noted above, is due to increased third party custodian fees related to international transactions from mutual fund clients and fees paid by the advisor to third-party distributors of the Scout Funds. Amortization of intangible assets increased $1.3 million, or 70.6 percent, and legal and consulting expenses increased $1.3 million, or 48.7 percent, from the third quarter of 2009.

“The increase in noninterest income is due to three primary drivers: revenue from fund administration and custody services, advisory fee income from the Scout Funds, and fee revenue from our growing card services business,” said Peter deSilva, President and Chief Operating Officer. “We are pleased with the performance of these businesses, with each posting double-digit growth rates for an increase of $7.9 million in noninterest income for the third quarter 2010 compared to the third quarter 2009. Additionally, we closed on the Prairie Capital Management transaction during the quarter and announced a definitive agreement to acquire Reams Asset Management. We look forward to working with the clients of these two outstanding businesses.”

Balance Sheet

Average total assets for the three months ended September 30, 2010 were $11.0 billion compared to $9.8 billion for the same period in 2009, an increase of $1.2 billion, or 11.7 percent. Average earning assets increased by $1.1 billion for the period, or 11.8 percent.

Actual loan balances on September 30, 2010 were $4.6 billion, an increase of $268.6 million, or 6.2 percent, compared to 2009. Real estate loans increased $242.3 million, or 13.8 percent, due to increases in commercial real estate and home equity loans. Commercial loans increased $38.1 million, or 1.9 percent. Average loan balances for the three months ended September 30, 2010 increased $214.9 million, or 4.9 percent compared to the same period in 2009.

Nonperforming loans increased to $25.0 million at September 30, 2010 from $22.4 million at September 30, 2009. As a percentage of loans, nonperforming loans increased to 0.55 percent as of September 30, 2010 compared to 0.52 percent at September 30, 2009. Nonperforming loans are defined as nonaccrual loans and restructured loans. By comparison, the industry median for nonperforming loans as of June 30, 2010 was 4.07 percent. The company’s allowance for loan losses totaled $72.7 million, or 1.59 percent of loans as of September 30, 2010 compared to $58.8 million, or 1.36 percent of loans as of September 30, 2009.

For the three months ended September 30, 2010, average securities, including trading securities, totaled $5.2 billion. This is an increase of $978.1 million, or 23.3 percent, from the same period in 2009.

Average total deposits increased $816.1 million, or 10.9 percent, to $8.3 billion for the three months ended September 30, 2010 compared to the same period in 2009. Average money market accounts increased by $374.1 million, or 26.4 percent, in 2010 as compared to 2009. Average noninterest-bearing demand deposits increased $413.2 million, or 18.0 percent, compared to 2009. Total deposits

as of September 30, 2010 were $8.6 billion, compared to $7.9 billion at September 30, 2009, a 9.0 percent increase.

“Actions taken in our investment portfolio, combined with loan growth, contributed to reducing net interest margin compression allowing net interest income to grow 3.3 percent this quarter. On a linked-quarter basis, margin decreased just 6 basis points, compared to the 28 basis point decline from the third quarter 2009 to the third quarter 2010,” said Mike Hagedorn, Chief Financial Officer. “We purchased securities during the third quarter 2010 at slightly higher interest rates than the purchases we made in the second quarter 2010. Overall, our balance sheet remains strong, fueled by growth in deposits, a strength that underpins our franchise value.”

As of September 30, 2010, UMB had total shareholders’ equity of $1.1 billion, an increase of 7.6 percent over September 30, 2009.

Year-to-Date

Earnings for the nine months ended September 30, 2010 were $72.0 million or $1.80 per share ($1.78 diluted). This is an increase of $6.3 million, or 9.7 percent, compared to the prior year-to-date earnings of $65.6 million or $1.62 per share ($1.61 diluted).

Net interest income for the nine months ended September 30, 2010 increased $6.5 million, or 2.9 percent, compared to the same period in 2009. Net interest margin decreased to 3.24 percent for the nine months ended September 30, 2010 as compared to 3.44 percent for the same period in 2009.

Noninterest income increased $38.8 million, or 17.1 percent, to $265.6 million for the nine months ended September 30, 2010 as compared to the same period in 2009. The increase is primarily attributable to higher trust and securities processing income. Trust and securities processing income increased $27.9 million, or 32.3 percent, for year-to-date September 30, 2010 as compared to the same period in 2009. Bankcard fees increased $6.8 million, or 20.1 percent.

Noninterest expense increased $33.3 million, or 9.8 percent, for the nine months ended September 30, 2010 compared to the same period in 2009. Salary and employee benefit expense increased by $17.1 million, or 9.6 percent, mostly due to higher employee base salaries, higher commissions and bonuses and higher cost of benefits. Processing fees increased $9.0 million, or 36.3 percent, due to increased third party custodian fees related to international transactions from mutual fund clients and fees paid by the advisor to third-party distributors of the Scout Funds.

The company plans to host a conference call to discuss its 2010 third quarter earnings results on October 27, 2010, at 8:30 a.m. (CST). Interested parties may access the call by dialing U.S. (toll-free) 877-941-2927 or (U.S.) 480-629-9690, by following the Web link to the live call or by visiting umb.com to access the link to the live call.

A replay of the conference call may be heard until November 11, 2010, by calling (toll-free) 1-800-406-7325 or (U.S.) 1-303-590-3030. The replay pass code required for playback is conference ID 4370229#. The call replay may also be accessed via the company's Web site, umb.com, by visiting the Investor Relations area.

Forward-Looking Statements:

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements rely on a number of assumptions concerning future events and are subject to risks and uncertainties, which could cause actual results to differ materially from those contemplated by the forward-looking statements in this Current Report on Form 8-K, any exhibits to this Current Report and other public statements the company may make. While management of UMB believes their assumptions are reasonable, UMB cautions that changes in general economic conditions, changes in interest rates, changes in the securities markets, changes in operations, changes in competition, technology changes, legislative or

regulatory changes, the ability of customers to repay loans, changes in loan demand, increases in employee costs, its ability to integrate acquisitions and other risks and uncertainties detailed in UMB’s filings with the Securities and Exchange Commission, may cause actual results to differ materially from those discussed in this release. UMB has no duty to update such statements, and undertakes no obligation to update or supplement forward-looking statements that become untrue because of new information, future events or otherwise.

About UMB:

UMB Financial Corporation (NASDAQ: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to commercial, institutional and personal customers nationwide. Its banking subsidiaries own and operate 133 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers. For more information, visit umb.com or follow us on Twitter at @UMBFinancial.

CONSOLIDATED BALANCE SHEETS        UMB Financial Corporation 
(unaudited, dollars in thousands)                 
        September 30, 
Assets        2010        2009 
 
Loans    $    4,583,562    $    4,314,977 
   Allowance for loan losses        (72,719)        (58,812) 
         Net loans        4,510,843        4,256,165 
Loans held for sale        11,256        19,410 
Investment securities:                 
   Available for sale        5,058,667        4,385,619 
   Held to maturity        59,910        46,881 
   Trading securities        40,520        46,487 
   Federal Reserve Bank Stock and other        22,344        23,609 
         Total investment securities        5,181,441        4,502,596 
Federal funds and resell agreements        22,399        103,954 
Interest-bearing due from banks        658,347        539,357 
Cash and due from banks        332,699        288,422 
Bank premises and equipment, net        215,627        217,491 
Accrued income        63,990        64,804 
Goodwill        163,584        125,739 
Other intangibles        69,723        40,528 
Other assets        110,132        77,030 
         Total assets    $    11,340,041    $    10,235,496 
 
 
Liabilities                 
Deposits:                 
   Noninterest-bearing demand    $    2,778,728    $    2,594,635 
   Interest-bearing demand and savings        4,278,388        3,657,651 
   Time deposits under $100,000        710,991        781,196 
   Time deposits of $100,000 or more        833,708        856,707 
         Total deposits        8,601,815        7,890,189 
Federal funds and repurchase agreements        1,432,179        1,146,676 
Short-term debt        27,847        20,336 
Long-term debt        9,040        32,358 
Accrued expenses and taxes        148,927        119,659 
Other liabilities        30,053        12,650 
         Total liabilities        10,249,861        9,221,868 
 
Shareholders' Equity                 
Common stock        55,057        55,057 
Capital surplus        716,278        711,373 
Retained earnings        612,265        546,370 
Accumulated other comprehensive income        67,399        56,324 
Treasury stock        (360,819)        (355,496) 
         Total shareholders' equity        1,090,180        1,013,628 
         Total liabilities and shareholders' equity    $    11,340,041    $    10,235,496 

Consolidated Statements of Income                    UMB Financial Corporation 
(unaudited, dollars in thousands except share and per share data)                             
    Three Months Ended                     Nine Months Ended 
                               September 30,        September 30, 
Interest Income    2010           2009             2010        2009 
Loans    $ 56,581    $    54,478    $    166,013    $    160,813 
Securities:                             
Taxable interest    22,026        25,455        68,301        80,395 
   Tax-exempt interest    7,330        7,554        21,675        21,742 
       Total securities income    29,356        33,009        89,976        102,137 
Federal funds and resell agreements    29        48        137        229 
Interest-bearing due from banks    749        1,181        3,099        2,965 
Trading securities    176        210        500        570 
Total interest income    86,891        88,926        259,725        266,714 
 
Interest Expense                             
Deposits    7,900        12,223        25,985        38,656 
Federal funds and repurchase agreements    525        446        1,473        1,643 
Long-term debt    83        361        441        1,138 
       Total interest expense    8,508        13,030        27,899        41,437 
Net interest income    78,383        75,896        231,826        225,277 
Provision for loan losses    7,700        8,300        24,110        20,600 
                   Net interest income after provision for loan losses    70,683        67,596        207,716        204,677 
 
Noninterest Income                             
Trust and securities processing    39,843        32,630        114,029        86,164 
Trading and investment banking    7,897        6,787        20,454        20,625 
Service charges on deposits    19,431        20,598        60,114        62,527 
Insurance fees and commissions    1,554        1,255        4,540        3,710 
Brokerage fees    1,746        1,629        4,679        5,493 
Bankcard fees    14,555        11,671        40,554        33,760 
Gains on sale of securities available for sale, net    752        3,306        7,270        5,198 
Other    4,306        2,642        13,950        9,273 
       Total noninterest income    90,084        80,518        265,590        226,750 
 
Noninterest Expense                             
Salaries and employee benefits    69,044        60,193        194,849        177,786 
Occupancy, net    9,162        8,982        27,007        25,698 
Equipment    11,122        11,187        33,205        36,181 
Supplies and services    4,822        4,787        14,209        15,734 
Marketing and business development    4,426        4,036        12,561        11,397 
Processing fees    11,570        9,659        33,812        24,803 
Legal and consulting    4,108        2,763        8,500        6,954 
Bankcard    4,292        3,615        11,842        10,498 
Amortization of other intangibles    3,150        1,847        7,684        4,318 
Regulatory fees    3,219        3,036        9,974        12,672 
Other    5,720        5,152        20,470        14,738 
       Total noninterest expense    130,635        115,257        374,113        340,779 
 
Income before income taxes    30,132        32,857        99,193        90,648 
Income tax provision    7,359        8,859        27,223        25,022 
Net income    $ 22,773    $    23,998    $    71,970    $    65,626 
 
Per Share Data                             
Net income - basic    $ 0.57    $    0.60    $    1.80    $    1.62 
Net income - diluted    0.57        0.59        1.78        1.61 
Dividends    0.185        0.175        0.555        0.525 
Weighted average shares outstanding    40,081,108        40,240,293        40,083,419        40,402,992 

Consolidated Statements of                                                 
Shareholders' Equity                                        UMB Financial Corporation 
(unaudited, dollars in thousands, except per share data)                                     
 
 
                                Accumulated                 
                                Other                 
        Common        Capital        Retained        Comprehensive           Treasury         
         Stock        Surplus        Earnings        Income        Stock           Total 
 
Balance - January 1, 2009    $    55,057    $    707,812    $    502,073    $    41,105    $    (331,236)    $    974,811 
Comprehensive income                                                 
     Net income        -        -        65,626        -        -        65,626 
     Change in unrealized gains on                                                 
securities        -        -        -        15,219        -        15,219 
Total comprehensive income                                                80,845 
Cash dividends ($0.525 per share)        -        -        (21,329)        -        -        (21,329) 
Purchase of treasury stock        -        -        -        -        (26,331)        (26,331) 
Issuance of equity awards        -        (1,263)        -        -        1,395        132 
Recognition of equity based                                                 
     compensation        -        3,948        -        -        -        3,948 
Net tax benefit related to equity                                                 
compensation plans        -        187        -        -        -        187 
Sale of treasury stock        -        314        -        -        159        473 
Exercise of stock options        -        375        -        -        517        892 
 
Balance – September 30,2009    $    55,057    $    711,373    $    546,370    $    56,324    $    (355,496)    $    1,013,628 
 
 
Balance - January 1, 2010    $    55,057    $    712,774    $    562,748    $    40,454    $    (355,482)    $    1,015,551 
Comprehensive income                                                 
     Net income        -        -        71,970        -        -        71,970 
     Change in unrealized gains on                                                 
securities        -        -        -        26,945        -        26,945 
Total comprehensive income                                                98,915 
Cash dividends ($0.555 per share)        -        -        (22,453)        -        -        (22,453) 
Purchase of treasury stock        -        -        -        -        (7,554)        (7,554) 
Issuance of equity awards        -        (1,617)        -        -        1,742        125 
Recognition of equity based                                                 
     compensation        -        4,398        -        -        -        4,398 
Net tax benefit related to equity                                                 
     compensation plans        -        155        -        -        -        155 
Sale of treasury stock        -        333        -        -        188        521 
Exercise of stock options        -        235        -        -        287        522 
Balance – September 30, 2010    $    55,057    $    716,278    $    612,265    $    67,399    $    (360,819)    $    1,090,180 

Average Balances / Yields and Rates                UMB Financial Corporation         
(tax - equivalent basis)                                 
(unaudited, dollars in thousands)            Three Months Ended September 30,         
        2010            2009         
        Average     Average            Average    Average     
Assets        Balance    Yield/Rate            Balance    Yield/Rate     
Loans, net of unearned interest    $    4,569,900    4.92    %    $    4,354,961    4.97    % 
Securities:                                 
 Taxable        4,044,955    2.16            3,175,441    3.18     
 Tax-exempt        1,089,222    4.14            984,534    4.73     
   Total securities        5,134,177    2.58            4,159,975    3.55     
Federal funds and resell agreements        23,462    0.49            40,057    0.48     
Interest-bearing due from banks        365,481    0.81            473,868    0.99     
Trading securities        41,197    1.79            37,250    2.47     
   Total earning assets        10,134,217    3.56            9,066,111    4.08     
Allowance for loan losses        (70,385)                (57,957)         
Other assets        938,083                839,486         
   Total assets    $    11,001,915            $    9,847,640         
 
 
Liabilities and Shareholders' Equity                                 
Interest-bearing deposits    $    5,574,615    0.56    %    $    5,171,736    0.94    % 
Federal funds and repurchase agreements        1,459,219    0.14            1,184,647    0.15     
Borrowed funds        36,635    0.90            50,285    2.85     
   Total interest-bearing liabilities        7,070,469    0.48            6,406,668    0.81     
Noninterest-bearing demand deposits        2,711,061                2,297,832         
Other liabilities        133,474                133,028         
Shareholders' equity        1,086,911                1,010,112         
   Total liabilities and shareholders' equity    $    11,001,915            $    9,847,640         
Net interest spread            3.08    %            3.27    % 
Net interest margin            3.23                3.51     
 
 
            Nine Months Ended September 30,         
        2010            2009         
        Average     Average            Average    Average     
Assets        Balance    Yield/Rate            Balance    Yield/Rate     
Loans, net of unearned interest    $    4,451,687    4.99    %    $    4,400,316    4.89    % 
Securities:                                 
 Taxable        3,897,936    2.34            3,361,316    3.20     
 Tax-exempt        1,016,550    4.42            911,449    4.96     
   Total securities        4,914,486    2.77            4,272,765    3.57     
Federal funds and resell agreements        51,568    0.36            57,322    0.53     
Interest-bearing due from banks        619,288    0.67            473,040    0.84     
Trading securities        39,281    1.83            33,239    2.56     
   Total earning assets        10,076,310    3.61            9,236,682    4.04     
Allowance for loan losses        (67,809)                (55,651)         
Other assets        946,802                849,803         
   Total assets    $    10,955,303            $    10,030,834         
 
 
Liabilities and Shareholders' Equity                                 
Interest-bearing deposits    $    5,583,440    0.62    %    $    5,172,665    1.00    % 
Federal funds and repurchase agreements        1,398,633    0.14            1,364,476    0.16     
Borrowed funds        43,463    1.36            52,502    2.90     
   Total interest-bearing liabilities        7,025,536    0.53            6,589,643    0.84     
Noninterest-bearing demand deposits        2,743,050                2,333,091         
Other liabilities        128,129                108,397         
Shareholders' equity        1,058,588                999,703         

   Total liabilities and shareholders' equity    $ 10,955,303            $    10,030,834         
Net interest spread        3.08    %            3.20    % 
Net interest margin        3.24                3.44     

THIRD QUARTER 2010                         
FINANCIAL HIGHLIGHTS        UMB Financial Corporation     
(unaudited, dollars in thousands, except share and per share data)                     
 
Nine Months Ended September 30        2010            2009     
Net interest income    $    231,826        $    225,277     
Provision for loan losses        24,110            20,600     
Noninterest income        265,590            226,750     
Noninterest expense        374,113            340,779     
Income before income taxes        99,193            90,648     
Net income        71,970            65,626     
Net income per share - Basic        1.80            1.62     
Net income per share - Diluted        1.78            1.61     
Return on average assets        0.88    %        0.87    % 
Return on average equity        9.09    %        8.78    % 
 
Three Months Ended September 30                         
Net interest income    $    78,383        $    75,896     
Provision for loan losses        7,700            8,300     
Noninterest income        90,084            80,518     
Noninterest expense        130,635            115,257     
Income before income taxes        30,132            32,857     
Net income        22,773            23,998     
Net income per share - Basic        0.57            0.60     
Net income per share - Diluted        0.57            0.59     
Return on average assets        0.82    %        0.97    % 
Return on average equity        8.31    %        9.43    % 
 
At September 30                         
Assets    $    11,340,041        $    10,235,496     
Loans, net of unearned interest        4,583,562            4,314,977     
Securities        5,181,441            4,502,596     
Deposits        8,601,815            7,890,189     
Shareholders' equity        1,090,180            1,013,628     
Book value per share        26.98            25.08     
Market price per share        35.51            40.44     
Equity to assets        9.61    %        9.90    % 
Allowance for loan losses    $    72,719        $    58,812     
   As a % of loans        1.59    %        1.36    % 
Nonaccrual and restructured loans    $    25,022        $    22,392     
   As a % of loans        0.55    %        0.52    % 
Loans over 90 days past due    $    7,454        $    5,624     
   As a % of loans        0.16    %        0.13    % 
Other real estate owned    $    5,714        $    4,666     
Net loan charge-offs quarter-to-date    $    5,099        $    4,596     
   As a % of average loans        0.45    %        0.42    % 
Net loan charge-offs year-to-date    $    15,530        $    14,085     
   As a % of average loans        0.47    %        0.43    % 
 
Common shares outstanding        40,410,612            40,409,389     
 
Average Balances                         
Nine Months Ended September 30                         
Assets    $    10,955,303        $    10,030,834     
Loans, net of unearned interest        4,451,687            4,400,316     
Securities        4,953,767            4,272,765     
Deposits        8,326,490            7,505,756     
Shareholders' equity        1,058,588            999,703     

Selected Financial Data                     
of Affiliate Banks                UMB Financial Corporation 
(unaudited, dollars in thousands)            September 30, 2010     
            Loans         
            Net of         
                   Total        Unearned       Total    Shareholders' 
Missouri                 Assets        Interest    Deposits    Equity 
UMB Bank, n.a.    $ 9,495,895    $     3,739,643 $     7,301,792 $    696,762 
 
Colorado                     
UMB Bank Colorado, n. a.    1,091,443        543,117    913,743    142,953 
 
Kansas                     
UMB National Bank of America    623,573        220,020    421,622    58,369 
 
Arizona                     
UMB Bank Arizona, n. a.    105,777        90,529    45,926    11,307 
 
Banking - Related Subsidiaries                     
UMB CDC, Inc.                     
UMB Banc Leasing Corp.                     
UMB Financial Services, Inc.                     
UMB Insurance, Inc.                     
UMB Capital Corporation                     
United Missouri Insurance Company                     
UMB South Dakota Trust Company                     
UMB Fund Services, Inc.                     
Kansas City Realty Company                     
Kansas City Financial Corporation                     
UMB Redevelopment Corporation                     
UMB Realty Company, LLC                     
Grand Distribution Services, LLC                     
UMB Distribution Services, LLC                     
J. D. Clark & Co., Inc.                     
UMB Bank & Trust, National Association                     
Scout Distributors, LLC                     
Scout Investment Advisors, Inc.                     
Prairie Capital Management, LLC                     
UMB Merchant Banc, LLC