-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N7QBhhPtusqMcLtP6YaumKScZe3CnYisrkZCOrw9Lf0wSOWsEHPwA+0+lvsa6oE7 ijorcnflXP/6av1PA7f89Q== 0000101382-99-000020.txt : 19990702 0000101382-99-000020.hdr.sgml : 19990702 ACCESSION NUMBER: 0000101382-99-000020 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990701 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UMB FINANCIAL CORP CENTRAL INDEX KEY: 0000101382 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 430903811 STATE OF INCORPORATION: MO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 000-04887 FILM NUMBER: 99658228 BUSINESS ADDRESS: STREET 1: 1010 GRAND AVE CITY: KANSAS CITY STATE: MO ZIP: 64106 BUSINESS PHONE: 8168607000 MAIL ADDRESS: ZIP: ----- FORMER COMPANY: FORMER CONFORMED NAME: UNITED MISSOURI BANCSHARES INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: MISSOURI BANCSHARES INC DATE OF NAME CHANGE: 19710915 11-K 1 UMB PROFIT SHARING AND 401(K) SAVINGS PLAN - ------------------------------------------------------------------------------- UMB Profit Sharing and 401(k) Savings Plan Financial Statements as of and for the Years Ended December 31, 1998 and 1997, Supplemental Schedules as of and for the Year Ended December 31, 1998, and Independent Auditors' Report UMB PROFIT SHARING AND 401(k) SAVINGS PLAN TABLE OF CONTENTS - -------------------------------------------------------------------------------- Page INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1997: Statements of Net Assets Available for Benefits 2-3 Statements of Changes in Net Assets Available for Benefits 4 Notes to Financial Statements 5-9 SUPPLEMENTAL SCHEDULES AS OF AND FOR THE YEAR ENDED DECEMBER 31, 1998: Item 27a - Schedule of Assets Held for Investment Purposes 10 Item 27d - Schedule of Reportable Transactions 11-12 Note: Certain supplemental schedules required by the rules and regulations of the Department of Labor are omitted because of the absence of conditions under which they are required. INDEPENDENT AUDITORS' REPORT Administrative Committee UMB Profit Sharing and 401(k) Savings Plan Kansas City, Missouri We have audited the accompanying statements of net assets available for benefits of UMB Profit Sharing and 401(k) Savings Plan (the "Plan") as of December 31, 1998 and 1997, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 1998 and 1997, and the changes in net assets available for benefits for the years then ended in conformity with generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of Assets Held for Investment Purposes and Reportable Transactions are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information by fund in the statements of net assets available for benefits and the statements of changes in net assets available for benefits is presented for the purpose of additional analysis rather than to present the net assets available for benefits and changes in net assets available for benefits of the individual funds. The supplemental schedules and supplemental information by fund is the responsibility of the Plan's management. Such supplemental schedules and supplemental information by fund have been subjected to the auditing procedures applied in our audits of the basic financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole. June 4, 1999 UMB PROFIT SHARING AND 401(k) SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1998 - --------------------------------------------------------------------------------
Non- Participant Directed Participant Directed _______________________________________________________________________________________________________ Fund F: Fund G: Fund H: Fund B: Fund C: Fund D: Fund E: UMB UMB UMB Fund A: Pooled Pooled Pooled UMB Scout Scout Scout Capital Financial Balanced Income Equity Debt Regional Worldwide Preservation Corporation Fund Fund Fund Fund Fund Fund Fund Stock Administ- ---- ---- ---- ---- ---- ---- ---- ----- --------- ASSETS: rative Investments, at fair value: Pooled Income Fund $ 10,589,329 Pooled Debt Fund $ 10,188,190 $ 6,372,336 Pooled Equity Fund 12,530,727 $ 34,116,453 Scout Regional Fund $ 7,383,316 Scout Worldwide Fund $ 14,176,210 Scout Preservation Fund $ 630,729 Short Term Money Market 128,987 87,200 154,040 14,959 $ 24 $116,395 UMB Financial Corporation Stock 1,045,170 Participant loans 2,593,529 Other assets - real estate 100,000 ---------- ---------- ---------- --------- --------- ---------- ------- --------- ------- Total investments 25,441,433 10,676,529 34,370,493 6,387,295 7,383,316 14,176,210 630,729 1,045,194 116,395 ---------- ---------- ---------- --------- --------- ---------- ------- --------- ------- Receivables: Employer contributions 361,804 102,517 603,953 83,238 177,698 317,504 13,897 10,843 Interest and dividends 13,061 220 1,025 217 5,557 449 ---------- ---------- ---------- --------- --------- ---------- ------- --------- ------- Total receivables 374,865 102,737 604,978 83,455 177,698 317,504 13,897 16,400 449 ---------- ---------- ---------- --------- --------- ---------- ------- --------- ------- Cash 101,429 19,598 103,483 19,855 13,983 376 ---------- ---------- ---------- --------- --------- ---------- ------- --------- ------- Total assets 25,917,727 10,798,864 35,078,954 6,490,605 7,574,997 14,494,090 644,626 1,061,594 116,844 LIABILITIES - Refundable excess contributions 2,148 2,658 7,865 779 1,971 6,486 91 139 ---------- ---------- ---------- --------- --------- ---------- ------- --------- ------- NET ASSETS AVAILABLE FOR BENEFITS $ 25,915,579 $ 10,796,206$ 35,071,089$ 6,489,826$ 7,573,026$ 14,487,604 $ 644,535$1,061,455 $116,844 ============ ========================================================== =================== ========
Total all Funds ----- ASSETS: Investments, at fair value: Pooled Income Fund $ 10,589,329 Pooled Debt Fund 16,560,526 Pooled Equity Fund 46,647,180 Scout Regional Fund 7,383,316 Scout Worldwide Fund 14,176,210 Scout Preservation Fund 630,729 Short Term Money Market 501,605 UMB Financial Corporation Stock 1,045,170 Participant loans 2,593,529 Other assets - real estate 100,000 ------- Total investments 100,227,594 ----------- Receivables: Employer contributions 1,671,454 Interest and dividends 20,529 ------ Total receivables 1,691,983 --------- Cash 258,724 ------- Total assets 102,178,301 LIABILITIES - Refundable excess contributions 22,137 ------ NET ASSETS AVAILABLE FOR BENEFITS $ 102,156,164 ============= UMB PROFIT SHARING AND 401(k) SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1997
Non-Participant Participant Directed Directed Fund F: Fund B: Fund C: Fund D: Fund E: UMB Fund A: Pooled Pooled Pooled UMB Scout Scout Balanced Income Equity Debt Regional Worldwide Fund Fund Fund Fund Fund Fund Administrative Total ---- ---- ---- ---- ---- ---- -------------- ----- ASSETS: Investments, at fair value: Pooled Income Fund $ 3,929,264 $ 3,929,264 Pooled Debt Fund $7,903,723 $ 4,005,805 11,909,528 Pooled Equity Fund 10,404,456 $27,172,232 37,576,688 Scout Regional Fund $6,266,693 6,266,693 Scout Worldwide Fund $8,929,127 8,929,127 Short Term Money Market 162,911 23,089 144,361 17,280 4,521 $ 87,657 439,819 Participant loans 2,278,258 2,278,258 Other assets - real estate 100,000 100,000 ---------- --------- ---------- --------- --------- --------- ------ ---------- Total investments 20,749,348 3,952,353 27,416,593 4,023,085 6,271,214 8,929,127 87,657 71,429,377 ---------- --------- ---------- --------- --------- --------- ------ ---------- Receivables: Employer contributions 76,560 17,766 173,425 19,940 60,082 100,160 447,933 Interest and dividends 10,484 113 319 115 344 11,375 ---------- --------- ---------- --------- --------- --------- ------ ---------- Total receivables 87,044 17,879 173,744 20,055 60,082 100,160 344 459,308 ---------- --------- ---------- --------- --------- --------- ------ ---------- Total assets 20,836,392 3,970,232 27,590,337 4,043,140 6,331,296 9,029,287 88,001 71,888,685 LIABILITIES - Refundable excess contributions 4,561 3,324 14,727 1,958 3,866 7,889 36,325 ---------- --------- ---------- --------- --------- --------- ------ ---------- NET ASSETS AVAILABLE FOR BENEFITS $20,831,831 $ 3,966,908$27,575,610 $4,041,182$6,327,430 $9,021,398 $ 88,001 $ 71,852,360 =========== ====================== ==================== ========== ======== ============ See notes to financial statements.
UMB PROFIT SHARING AND 401(k) SAVINGS PLAN STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS YEARS ENDED DECEMBER 31, 1998 AND 1997
Participant-Directed Fund G: Fund H: Fund B: Fund C: Fund D: Fund E: Fund F: UMB Scout UMB Fund A: Pooled Pooled Pooled UMB Scout UMB Scout Capital Financial Balanced Income Equity Debt Regional Worldwide Preservation Corp. Fund Fund Fund Fund Fund Fund Fund Stock ADDITIONS: Net appreciation (depreciation) in fair value of investments $ 1,463,591 $ 273,243 $ 2,143,243 $ 385,210 $ (801,489)$ 1,479,479 $ (54,972)$(44,142) Interest and dividends 223,576 8,249 16,545 2,429 600,537 211,211 8,613 6,347 Employer contributions 361,804 102,517 603,953 83,238 177,699 317,503 13,897 10,843 Employee contributions 1,514,437 397,058 2,689,449 315,181 806,871 1,321,718 51,574 (139) Transfers from The ESOP of UMB 216,380 8,998 9,243 6,609 6,609 Transfers from the Retirement Plan of UMB 6,375,611 5,517,326 5,353,244 1,613,359 1,115,884 2,493,354 221,202 1,088,546 --------- --------- --------- --------- --------- --------- ------- --------- Total additions 9,939,019 6,514,773 10,815,432 2,408,660 1,906,111 5,829,874 240,314 1,061,455 DEDUCTIONS: Benefit payments Other expenses 1,884 --------- --------- --------- --------- --------- --------- ------- --------- Total deductions 1,884 --------- --------- --------- --------- --------- --------- ------- --------- Net increase (decrease) prior to interfund transfers 9,939,019 6,514,773 10,813,548 2,408,660 1,906,111 5,829,874 240,314 1,061,455 Interfund transfers, net (4,855,271) 314,525 (3,318,069) 39,984 (660,515) (363,668) 404,221 --------- --------- --------- --------- --------- --------- ------- --------- Net increase 5,083,748 6,829,298 7,495,479 2,448,644 1,245,596 5,466,206 644,535 1,061,455 --------- --------- --------- --------- --------- --------- ------- --------- Net assets available for benefits, beginning of year 20,831,831 3,966,908 27,575,610 4,041,182 6,327,430 9,021,398 --------- --------- --------- --------- --------- --------- ------- --------- Net assets available for benefits, end of year $ 25,915,579 $10,796,206 $35,071,089 $6,489,826 $7,573,026 $14,487,604 $ 644,535$1,061,455 ============ =========== =========== ========== ========== =========== =================== See notes to fininacial statements.
UMB PROFIT SHARING AND 401(k) SAVINGS PLAN STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS YEARS ENDED DECEMBER 31, 1998 AND 1997
Non-Participant Directed 1998 1997 Administrative Total Total ADDITIONS: Net appreciation (depreciation) in fair value of investments $ 4,844,163 $ 9,651,110 Interest and dividends $ 3,157 1,080,664 874,800 Employer contributions 1,671,454 447,933 Employee contributions 7,096,149 5,018,501 Transfers from The ESOP of UMB 247,839 33,334 Transfers from the Retirement Plan of UMB 23,778,526 ----- ---------- ---------- Total additions 3,157 38,718,795 16,025,678 DEDUCTIONS: Benefit payments 8,413,107 8,413,107 5,959,679 Other expenses 1,884 1,990 --------- --------- --------- Total deductions 8,413,107 8,414,991 5,961,669 --------- --------- --------- Net increase (decrease) prior to interfund transfers (8,409,950) 30,303,804 10,064,009 Interfund transfers, net 8,438,793 --------- --------- --------- Net increase 28,843 30,303,804 10,064,009 --------- --------- --------- Net assets available for benefits, beginning of year 88,001 71,852,360 61,788,351 --------- --------- --------- Net assets available for benefits, end of year $ 116,844 $102,156,164 $ 71,852,360 ========= ============ ============ See notes to fininacial statements.
UMB PROFIT SHARING AND 401(k) SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS YEARS ENDED DECEMBER 31, 1998 AND 1997 - -------------------------------------------------------------------------------- 1. PLAN DESCRIPTION The following description of the UMB Profit Sharing and 401(k) Savings Plan (the "Plan") provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. General - The Plan is a defined contribution plan covering substantially all employees and provides for retirement, disability and death benefits. The employers (UMB Financial Corporation and affiliates) (collectively the "Company") have agreed to voluntarily contribute an amount equal to the lesser of 8% of consolidated net income or the maximum amount which could be contributed without reducing consolidated net income below 8% of shareholders' equity. Employer contributions as computed above (profit sharing contributions) are divided between the UMB Profit Sharing and 401(k) Savings Plan and The ESOP of UMB, at the discretion of the Board of Directors of UMB Financial Corporation. All such employer profit sharing contributions were allocated to The ESOP of UMB in 1998 and 1997. Eligibility and Participation - The Plan provides that employees with one full year of continuous service become eligible to participate in the Plan. Contributions - Under the Plan, participants can elect to make contributions on a pre-tax basis, equal to not less than 1% or more than 10% of their compensation. Employees that are regularly scheduled to perform twenty or more hours of service for the employer are eligible to make contributions. Elective deferral contributions are fully vested and nonforfeitable. The Plan allows for matching contributions by the employer to be determined annually by the Board of Directors of UMB Financial Corporation at its discretion. Employer matching 401(k) contributions of $1,671,454 and $447,933, respectively, were made to the Plan in 1998 and 1997. Transfer from Retirement Plan of UMB - During the Plan year ended December 31, 1998, the Retirement Plan of UMB ("Terminated Plan") was terminated. Participants in the Terminated Plan could elect to transfer their balance from the Terminated Plan to this Plan. During the year ended December 31, 1998, $23,778,526 was transferred into this Plan from the Terminated Plan. Participant Accounts - Each participant's account is credited with the participant's contribution and an allocation of (a) the Employer's contribution and (b) forfeitures of terminated participants' nonvested accounts. Allocations are based on participant earnings, subject to certain limits. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account. Vesting - Participants are immediately vested in their voluntary contributions plus actual earnings thereon. A participant is fully vested after five years of completed service. Payment of Benefits - A participant may withdraw all or a portion of voluntary contributions subject to Administrative Committee approval. Employees are not allowed to withdraw any portion of the employer contributions. Participants are also able to transfer their account balances from The ESOP of UMB to the Plan if the participant is between the ages of 55 and 59. Participant Loans - The Plan provides for interest-bearing, secured loans to be made to participants not to exceed the lesser of 50% of the participant's portion of their accumulated benefit or $50,000. Additionally, all loans are made for a period of less than five years unless proceeds of such loan are exclusively used for the acquisition of a dwelling unit to be used as the principal residence of the participant. Interest rates are fixed at one percent above the prime rate for commercial loans at the date of issue. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation - The accompanying financial statements are presented on the accrual basis of accounting. Use of Estimates - The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions and deductions during the reporting period. Actual results could differ from those estimates. Investments - Investments are stated at aggregate fair value. The fair value of the investments owned by the Plan in the pooled funds is based on quoted redemption values on the last business day of the Plan year. Investments in mutual funds and in the common stock of the Company are valued at quoted market prices. For participant loans which do not have an established fair value, management estimates that the outstanding principal amount of the participant loans approximates fair value. Investments in other assets are valued at estimated fair value. The change in the difference between fair value at the end of the year and beginning fair value or, for those investments purchased during the year, the cost of investments, is reflected in the statements of changes in net assets available for benefits as net appreciation (depreciation) in fair value of investments. Substantially all of the Plan assets are in funds offered by UMB Bank, n.a., the plan administrator. The credit worthiness of those funds is monitored periodically by Plan management. Benefits Payable - As of December 31, 1998 and 1997, net assets available for benefits included benefits that were approved but not yet processed of $1,510,978 and $196,126, respectively, due to participants who have withdrawn from participation in the Plan. Costs and Expenses - All costs and expenses incurred with regard to the purchase, sale or transfer of investments and other assets in connection with the operations of the Plan are borne by the Plan. Administrative expenses are paid by the Company. During 1998 and 1997, the Plan incurred $1,884 and $1,990, respectively, of other expenses related to property taxes and insurance paid for an investment in real estate and other administrative expenses. 3. FUND INVESTMENTS The Plan has been designed to permit each participant to choose the type of investment which best satisfies the participant's requirements among the eight available funds as follows: The prospectus for Fund A: Balanced Fund states that its assets are intended to be invested in a diversified portfolio of approximately 50% equity investments and approximately 50% debt securities (including participant loans). The prospectus for Fund B: Pooled Income Fund states that its assets are intended to be invested entirely in short-term debt securities. The prospectus for Fund C: Pooled Equity Fund states that its assets are intended to be invested entirely in a diversified portfolio of equity securities and real estate. The prospectus for Fund D: Pooled Debt Fund states that its assets are intended to be invested in long-term fixed income securities. The prospectus for Fund E: UMB Scout Regional Fund states that its assets are intended to be invested primarily in common stocks of midwestern regional companies selected for their promise of long-term growth of both capital and dividend income. The prospectus for Fund F: UMB Scout Worldwide Fund states that its assets are intended to be invested in a diversified portfolio of equity securities of established companies either located outside the U.S. or whose primary business is carried on outside the country. The prospectus for Fund G: UMB Scout Capital Preservation Fund states that its assets are intended to be invested primarily in equity securities (common stocks and convertible securities). The prospectus for Fund H: UMB Financial Corporation Fund states that its assets are intended to be invested primarily in common stock of UMB Financial Corporation. Additionally, each fund contains money market funds to facilitate the transfer of assets. Plan participants may direct their interests in the Plan be invested in any of the eight designated investment funds, except that no more than 25% of a participants' account may be allocated to Fund E or Fund F. Additionally, participants are allowed to change their designated investment fund or funds throughout the year as they desire. 4. INVESTMENTS The Plan's investments are held by UMB Bank, n.a.. Investments that represent 5% or more of the Plan's net assets are separately identified.
1998 ------------------------------------------------- Unit Number Value Fair of Units (rounded) Value Investments in common collective trust funds and mutual funds administered by UMB Bank, n.a., at fair value as determined by quoted market price and aggregate fair value: Pooled Debt Fund 225,954 $ 73.29 $ 16,560,526 Pooled Equity Fund 466,496 99.95 46,647,180 Pooled Income Fund 187,369 56.52 10,589,239 Scout Regional Fund 705,862 10.46 7,383,316 Scout Worldwide Fund 763,804 18.56 14,176,210 1997 ------------------------------------------------- Unit Number Value Fair of Units (rounded) Value Pooled Debt Fund 177,168 $ 67.22 $ 11,909,528 Pooled Equity Fund 404,795 92.83 37,576,688 Pooled Income Fund 73,554 53.42 3,929,264 Scout Regional Fund 527,056 11.89 6,266,693 Scout Worldwide Fund 557,374 16.02 8,929,127
5. PLAN TERMINATION Although it has not expressed any intent to do so, the Board of Directors of UMB Financial Corporation, (the "Plan Sponsor"), has the right under the Plan to increase or decrease the amount calculated by the formula described in Note 1, and has the right to terminate the Plan at any time, subject to the provisions of ERISA. In the event of Plan termination, the Plan provides that its net assets be used to pay all expenses and benefits due and to distribute the remaining assets among the Plan participants based upon the individual percentage of fund dollars to the total fund dollars. 6. INCOME TAX STATUS The Plan has obtained a determination letter, dated September 21, 1995, in which the Internal Revenue Service stated that the Plan, as then designed, was in compliance with the applicable requirements of the Internal Revenue Code (the "Code"). The Plan has been amended since receiving the determination letter. The plan administrator believes that the Plan is being operated in compliance with the applicable requirements of the Code. 7. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500 The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500: December 31, 1998 1997 Net assets available for benefits per the financial statements $102,156,164 $ 71,852,360 Amounts allocated to withdrawing participants (1,510,978) (196,126) Net assets available for benefits per the Form 5500 $100,645,186 $ 71,656,234 The following is a reconciliation of benefits paid to participants per the financial statements to the Form 5500: Year Ended December 31, 1998 ------------------------ Benefits paid to participants per the financial statements $ 8,413,107 Add: Amounts allocated to withdrawing participants at December 31, 1998 1,510,978 Less: Amounts allocated to withdrawing participants at December 31, 1997 (196,126) Benefits paid to participants per the Form 5500 $ 9,727,959 8. RELATED PARTIES Certain Plan investments are units of mutual funds and pooled funds managed by UMB Bank, n.a. and shares of Company stock. UMB Bank, n.a. is the trustee as defined by the Plan and, therefore, these transactions qualify as party-in-interest. 9. SUBSEQUENT EVENTS Effective May 31, 1999, the Company has added two investment funds to the Plan. These funds are the UMB Scout Stock Select Fund and the UMB Scout Worldwide Select Fund. ****** UMB PROFIT SHARING AND 401(k) SAVINGS PLAN ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES YEAR ENDED DECEMBER 31, 1998 - --------------------------------------------------------------------------------
(a) (b) (c) (d) (e) Description of investment including maturity date, rate of Identity of issue, borrower, interest, collateral, par or Current lessor or similar party maturity value Cost Value Fund A: Balanced Fund * Pooled Debt Fund Pooled Fund (139,009 units) $ 7,073,146 $ 10,188,190 * Pooled Equity Fund Pooled Fund (125,314 units) 5,454,375 12,530,727 * Short Term Money Market Money Market Fund (128,987 units) 128,987 128,987 * Participant Loans Loans, ranging form 1 month to 60 months maturity, with interest rates of 6.00% to 9.50% 2,593,529 2,593,529 Fund B: Pooled Income Fund * Pooled Income Fund Pooled Fund (187,369 units) 9,402,269 10,589,329 * Short Term Money Market Money Market Fund (87,200 units) 87,200 87,200 Fund C: Pooled Equity Fund * Pooled Equity Fund Pooled Fund (341,182 units) 18,538,178 34,116,453 * Short Term Money Market Money Market Fund (154,040 units) 154,040 154,040 Other Assets - Real Estate Land - Shawnee County, Kansas 100,000 100,000 Fund D: Pooled Debt Fund * Pooled Debt Fund Pooled Fund (86,945 units) 4,562,395 6,372,336 * Short Term Money Market Money Market Fund (14,959 units) 14,959 14,959 * Fund E: UMB Scout Regional Fund Mutual Fund (705,862 units) 7,574,374 7,383,316 * Fund F: UMB Scout Worldwide Fund Mutual Fund (763,804 units) 11,582,848 14,176,210 * Fund G: UMB Scout Capital Preservation Mutual Fund (70,789 units) 679,836 630,729 Fund H: UMB Financial Corporation Stock * UMB Financial Corporation Stock Common Stock (22,783 units) 1,089,312 1,045,170 * Short Term Money Market Money Market Fund (24 units) 24 24 Administrative * Short Term Money Market Money Market Fund (116,395 units) 116,395 116,395 Total investments $ 69,151,867 $ 100,227,594 * Represents a party-in-interest to the Plan.
UMB PROFIT SHARING AND 401(k) SAVINGS PLAN ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS YEAR ENDED DECEMBER 31, 1998
(a) (b) (c) (d) (e) (f) (g) Current Value Description Purchase Selling Cost of Asset on Identity of Party Involved of Asset Price Price of Asset Transaction Date Net Gain SINGLE TRANSACTIONS Income Fund Pooled Fund $5,800,000 $5,800,000 $5,800,000 Equity Fund Pooled Fund 5,200,000 5,200,000 5,200,000 Short Term Money Market Money Market Fund 6,396,540 6,396,540 6,396,540 Short Term Money Market Money Market Fund $5,948,653 5,948,653 5,948,653 Short Term Money Market Money Market Fund 5,515,928 5,515,928 5,515,928 Short Term Money Market Money Market Fund 5,550,390 5,550,390 5,550,390 Short Term Money Market Money Market Fund 5,350,560 5,350,560 5,350,560 Short Term Money Market Money Market Fund 5,204,497 5,204,497 5,204,497 (Continued)
UMB PROFIT SHARING AND 401(k) SAVINGS PLAN ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS YEAR ENDED DECEMBER 31, 1998
(a) (b) (c) (d) (e) (f) (g) Current Value Description Purchase Selling Cost of Asset on Identity of Party Involved of Asset Price Price of Asset Transaction Date Net Gain SERIES TRANSACTIONS Debt Fund Pooled Fund (5 purchases) $ 2,250,700 $ 2,250,700 $ 2,250,700 (13 sales) $ 2,248,791 1,276,386 2,248,791 $ 972,405 Equity Fund Pooled Fund (10 purchases) 9,606,761 9,606,761 9,606,761 (5 sales) 3,519,904 1,326,248 3,519,904 2,193,656 Income Fund Pooled Fund (12 purchases) 10,849,578 10,849,578 10,849,578 (2 sales) 821,978 614,474 821,978 207,504 Short Term Money Market Money Market Fund (294 purchases) 33,838,899 33,838,899 33,838,899 (254 sales) 33,789,427 33,789,427 33,789,427 UMB Scout Regional Fund Mutual Fund (62 purchases) 3,875,442 3,875,442 3,875,442 (41 sales) 1,957,329 1,668,147 1,957,330 289,183 UMB Scout Worldwide Fund Mutual Fund (63 purchases) 6,021,435 6,021,435 6,021,435 (42 sales) 2,253,830 1,643,581 2,253,830 610,249 (Concluded) INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in Registration Statement No. 333-65807 of UMB Financial Corporation on Form S-8 of our report dated June 4, 1999, appearing in this Annual Report on Form 11-K of UMB Profit Sharing and 401(k) Savings Plan for the year ended December 31, 1998. June 29, 1999 Kansas City, Missouri
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