UMB Financial Corporation

News Release

1010 Grand Boulevard Kansas City, MO 64106 816.860.7000 umb.com

//FOR IMMEDIATE RELEASE//

Contact: Mandie Nelson, 816.860.5088

Investor Relations Contact: Begonya Klumb, 816.860.7906

UMB Financial Corporation Reports a 24 percent Increase and Record Full-Year Earnings of $74.2 million for 2007

Kansas City, Mo. (January 22, 2008) – UMB Financial Corporation (NASDAQ: UMBF), a multi-bank holding company, announced earnings for the year ended December 31, 2007 of $74.2 million or $1.78 per share ($1.77 diluted). This is an increase of $14.4 million, or 24.2 percent, compared to the prior year earnings of $59.8 million or $1.40 per share ($1.40 diluted). Earnings for the three months ended December 31, 2007 were $15.3 million or $0.37 per share ($0.37 diluted). This is a decrease of $0.5 million, or 3.2 percent, compared to fourth quarter 2006 earnings of $15.8 million or $0.37 per share ($0.37 diluted). The current quarter included a pre-tax liability accrual of $4.6 million related to the company’s estimated share of Visa U.S.A., Inc.’s (Visa) covered litigation provision as well as a $0.7 million net gain on a contingent payment received on the sale of the securities transfer product. Excluding these adjustments, net income for the fourth quarter would have increased 12.6 percent to $17.8 million. A table reconciling GAAP net income for these items for the quarter and year-to-date is included with this release.

“This quarter we watched the industry weather some challenging conditions,” commented Mariner Kemper, Chairman and CEO of UMB Financial Corporation. “I am extremely proud of the results our associates achieved for the quarter and the year. Our results continued to be fueled by double-digit fee income growth and an increase in net interest income. In addition, we grew average loans 9.0 percent while not wavering from our historically strong underwriting standards. Our financial performance in the current market environment validates our time-tested model of quality, liquidity and capital strength.”

Net Interest Income

Net interest income for the fourth quarter of 2007 increased $4.2 million, or 7.4 percent, compared to the same period in 2006 due primarily to higher average earning assets while increasing net interest margin. Average earning assets increased by $266.0 million, or 3.9 percent, as compared to the fourth quarter of 2006. Most of this increase was due to a $138.5 million, or 3.7 percent, increase in average loans and a $149.1 million, or 5.3 percent, increase in total

securities, including trading securities and other. Net interest margin increased 14 basis points to 3.55 percent for the three months ended December 31, 2007 as compared to the same quarter in 2006.

Noninterest Income and Expense

“Our results for the fourth quarter continue to be driven by continued improvement in our fee-based businesses,” said Peter deSilva, President and Chief Operating Officer. “Noninterest income grew 12.1 percent for the quarter, and 13.3 percent for the year. This growth continues to be driven by trust and securities processing income from our Asset Management and Fund Services divisions, as well as bankcard fees. Additionally, during the quarter, we announced that our Healthcare Services Division passed $100 million in Health Savings Account (HSA) assets, or an increase of 53 percent over the prior year. Finally, with almost 800,000 healthcare accounts, we are optimistic about the growth opportunity and remain committed to maintaining our leadership position in this important segment.”

Noninterest income increased $7.9 million, or 12.1 percent, for the three months ended December 31, 2007 compared to the same period in 2006. Trust and securities processing income increased $4.9 million, or 19.2 percent, for the three months ended December 31, 2007 compared to the same period in 2006. This increase was primarily due to a $1.5 million, or 20.0 percent, increase in fee income from the UMB Scout Funds and a $2.3 million, or 29.4 percent, increase in fund administration and distribution services. Deposit service charges were $1.5 million, or 8.4 percent, higher in the fourth quarter 2007 than in the same period in 2006 due mostly to greater individual overdraft and return item charges as well as pricing changes implemented at the beginning of 2007. A $0.7 million net gain was recognized on a contingent payment received on the sale of the securities transfer product, which was completed during the third quarter. In addition, gains on the sale of available-for-sale securities of $1.0 million were recognized during the quarter.

Noninterest expense increased $11.3 million, or 11.4 percent, for the three months ended December 31, 2007 compared to the same period in 2006. Salary expense increased by $4.3 million, or 8.6 percent, mostly due to higher employee base salaries, higher commissions and bonuses, and higher cost of benefits. Marketing and business development increased $0.7 million, or 21.3 percent, due to timing of marketing initiatives in the fourth quarter of 2007 compared to the same quarter in 2006. Processing fees increased $1.0 million, or 13.1 percent, due to increased third party custodian fees related to international transactions from mutual fund clients and sub-transfer agency fees paid for the distribution of the UMB Scout Funds. A liability of $4.6 million, which represents more than 40 percent of the noninterest expense increase, was recorded for the estimated company’s proportional share of Visa’s covered litigation. Excluding this litigation liability, noninterest expense would have increased 6.7 percent.

Balance Sheet and Margin

“Our balance sheet remains well positioned in this time of economic instability,” said Mike Hagedorn, Chief Financial Officer. “Our capital ratios are a reflection of our balance sheet strength. Moreover, our loan portfolio continued to grow in the fourth quarter, with commercial, HELOC and credit cards recording solid gains. Last quarter, we announced the strategic decision to run off our indirect loan portfolio, and continue to monitor our funding needs as a result. We expect this run-off to reduce our reliance on short-term instruments and repurchase agreements, and provide more balance sheet flexibility. Our current balance sheet and funding structure have allowed us to manage our funding costs as rates declined and contributed to margin improvement during the quarter.”

Average total assets for the three months ended December 31, 2007 were $8.1 billion compared to $7.8 billion for the same period in 2006, an increase of $298.5 million, or 3.8 percent. Average earning assets increased by $266.0 million, or 3.9 percent.

Actual loan balances on December 31, 2007 were $3.9 billion, compared to $3.8 billion on December 31, 2006. These balances were as follows:

Nonperforming loans were flat at December 31, 2007 and 2006 totaling $6.6 million. As a percentage of total loans, nonperforming loans were 0.17 percent of loans as of December 31, 2007 and 2006. Nonperforming loans are defined as nonaccrual loans and restructured loans. The company’s allowance for loan losses totaled $46.0 million, or 1.17 percent of total loans as of December 31, 2007 compared to $44.9 million, or 1.20 percent of total loans as of December 31, 2006.

For the three months ended December 31, 2007, average securities, including trading securities and other, totaled $3.0 billion. This is an increase of $149.1 million, or 5.3 percent from the same period in 2006. Average federal funds sold and resell agreements for the fourth quarter decreased $21.7 million, or 7.6 percent over the same period in 2006 to $264.2 million.

Average total deposits increased $338.5 million, or 6.1 percent, to $5.9 billion for the three months ended December 31, 2007, compared to the same period in 2006. The increase in deposits came primarily from our public funds, mutual fund processing and treasury management businesses. Average time deposit accounts increased by $112.0 million, or 9.0 percent, for the three months ended December 31, 2007 as compared to 2006. Average money market accounts increased by $199.3 million, or 20.0 percent, in 2007 as compared to 2006. Total deposits as of December 31, 2007 were $6.6 billion, compared to $6.3 billion at December 31, 2006, a 3.8 percent increase.

As of December 31, 2007, UMB had total shareholders’ equity of $890.6 million, a 4.9 percent increase from the prior year. For the three months ended December 31, 2007, the company repurchased 448,707 shares at an average price of $40.31 per share, for a total cost of $18.1 million. For the year, shares repurchased totaled 1.1 million, which at an average price of $39.37 per share, resulted in a total cost of $43.3 million.

The company declared its regular quarterly cash dividend of $0.15 per share to be paid on April 1, 2008, to shareholders of record at of the close of business on March 11, 2008.

Year-to-Date

Earnings for the year ended December 31, 2007 were $74.2 million or $1.78 per share ($1.77 diluted). This is an increase of $14.4 million, or 24.2 percent, compared to the prior year earnings of $59.8 million or $1.40 per share ($1.40 diluted). Excluding a $7.2 million pre-tax net gain on the sale of the securities transfer product as well as the $4.6 million liability recorded for the company’s proportional share of Visa’s covered litigation provision, adjusted net income would

have totaled $72.6 million or a 21.4 percent increase over 2006. A table reconciling GAAP net income for these items for the quarter and year-to-date is included with this release.

Net interest income for the year ended December 31, 2007 increased $15.5 million, or 7.1 percent, compared to the same period in 2006 due primarily to higher average earning assets and rates. Net interest margin increased to 3.44 percent for year ended December 31, 2007 as compared to 3.38 percent for the same period in 2006.

Noninterest income increased $33.8 million or 13.3 percent, to $288.8 million for the year ended December 31, 2007 as compared to the same period in 2006. The increase was primarily attributable to higher trust and securities processing income, deposit service charges, trading and investment income and brokerage fees. Trust and securities processing income increased $17.3 million, or 17.6 percent, for year-to-date December 31, 2007 as compared to the same period in 2006. Deposit service charges were $6.3 million, or 8.5 percent, higher for the twelve months ended December 31, 2007 than the same period in 2006 due mostly to greater individual overdraft and return item charges as well as pricing changes implemented at the beginning of the year. A $7.2 million net gain was recognized on the sale of the securities transfer product, which was completed during the third quarter. Excluding this net gain, noninterest income would have increased 10.4 percent.

Noninterest expense increased $25.7 million, or 6.8 percent, for the twelve months ended December 31, 2007 compared to the same period in 2006. Salary expense increased by $12.9 million, or 6.7 percent, mostly due to higher employee base salaries, higher commissions and bonuses and higher cost of benefits. Occupancy expense increased $2.5 million, or 8.9 percent, mainly from increased repair and maintenance costs of existing facilities and increased facility security expense. Equipment expense increased by $3.7 million, or 7.6 percent, for the year ended December 31, 2007 as compared to the same period in 2006 due mostly to higher amortization and maintenance costs related to software and associated equipment. A liability of $4.6 million was recorded for the company’s proportional share of Visa’s covered litigation provision. Excluding this liability, noninterest expense would have increased 5.5 percent.

The company plans to host a conference call to discuss its fourth quarter and full-year results on January 23, 2008, at 8:30 a.m. (CST). Interested parties may access the call by dialing U.S./Canada (toll-free) 800-218-0530 or access the following Web link at least 10 minutes before the call begins: http://w.on24.com/r.htm?e=99489&s=1&k=1687404DB24DB20851AB9BEB2DDA5198 or visit www.umb.com, investor relations, to access the link to the live call.

A replay of the conference call may be heard until February 6, 2008, by calling U.S./Canada (toll-free) 800-405-2236 or 303-590-3000. The replay pass code required for playback is conference ID 11104690#. The call replay may also be accessed via the company's Web site, www.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, 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.

Non-GAAP Financial Measures:

Certain financial measures contained in this press release exclude net gains associated with the sale of the securities transfer product in July, 2007, as well as a liability accrual related to Visa’s covered litigation provision. Financial measures which exclude those items have not been determined in accordance with generally accepted accounting principles and are therefore non-GAAP financial measures. Management of UMB believes that investors’ understanding of the company’s performance is enhanced by disclosing these non-GAAP financial measures as a reasonable basis for comparison of the company’s ongoing results of operations. These non-GAAP measures should not be considered a substitute for GAAP-basis measures and results. Our non-GAAP measures may not be comparable to non-GAAP measures of other companies. The attached Non-GAAP Reconciliation Schedule provides a reconciliation of these non-GAAP financial measures to the most closely analogous measure determined in accordance with GAAP.

About UMB:

UMB Financial Corporation (NASDAQ: UMBF) is a multi-bank holding company headquartered in Kansas City, Missouri, offering complete banking, asset management, health spending solutions and related financial services to both individual and business customers nationwide. Its banking subsidiaries own and operate 135 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 an investment services group based in Milwaukee, Wisconsin, single-purpose companies that deal with brokerage services and insurance and a registered investment advisor that manages the company’s proprietary mutual funds.

The following tables present the reconciliation of non-GAAP financial measures to reported GAAP financial measures.

The above table presents the variation in net income on an as reported (GAAP) basis and excluding certain gains related to the sale of securities transfer and the covered litigation provision. The press release includes commentary that compares both GAAP and non-GAAP financial measures.