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Umb Financial Corp (UMBF) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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UMBF Annual Reports

Umb Financial Corp

CIK: 101382 Ticker: UMBF

Exhibit 99.1

  

UMB Financial Corporation                                                      News Release

1010 Grand Boulevard

Kansas City, MO 64106

816.860.7000

umb.com

 

//FOR IMMEDIATE RELEASE//

Media Contact: Stephanie Hague: 816.860.5088

Investor Relations Contact: Kay Gregory: 816.860.7106

 

UMB Financial Corporation Reports Fourth Quarter Net Income of $78.5 Million and Record Full-Year Earnings of $353.0 Million

 

Fourth Quarter 2021 Financial Highlights

 

 

GAAP net income of $78.5 million, or $1.61 per diluted share; net operating income (non-GAAP) of $78.9 million, or $1.62 per diluted share.

 

Pre-tax, pre-provision income on a fully tax equivalent basis (PTPP-FTE) of $113.4 million.

 

Excluding Paycheck Protection Program (PPP) balances, average loans increased 5.7% on a linked-quarter, annualized basis.

 

o

Average Commercial & Industrial loan balances, excluding PPP, increased 11.9% on a linked-quarter, annualized basis.

 

o

Period-end loan balances, excluding PPP, increased by $882.6 million from the linked quarter.

 

Noninterest income increased 10.1% on a linked-quarter basis to $118.8 million, equal to 36.1% of total revenue.

 

Quarterly average deposits grew 26.7% to $31.6 billion compared to the fourth quarter of 2020.

 

o

Average demand deposit balances increased 60.5% on a linked-quarter annualized basis to $13.1 billion.

 

KANSAS CITY, Mo. (January 25, 2022) – UMB Financial Corporation (Nasdaq: UMBF), a financial services company, announced net income for the fourth quarter of 2021 of $78.5 million, or $1.61 per diluted share, compared to $94.5 million, or $1.94 per diluted share, in the third quarter of 2021 (linked quarter) and $156.3 million, or $3.24 per diluted share, in the fourth quarter of 2020. Results for the fourth quarter and full-year 2020 include a pre-tax gain of $108.8 million on the company’s investment in Tattooed Chef, Inc. (TTCF).

 

Net operating income, a non-GAAP financial measure reconciled to net income, the nearest comparable GAAP measure, later in this release, was $78.9 million, or $1.62 per diluted share, for the fourth quarter of 2021, compared to $95.1 million, or $1.95 per diluted share, for the linked quarter and $157.4 million, or $3.26 per diluted share, for the fourth quarter of 2020. PTPP-FTE, a non-GAAP measure reconciled to the components of net income before taxes, the nearest comparable GAAP measure, later in this release, was $113.4 million, or $2.32 per diluted share, for the fourth quarter of 2021, compared to $115.3 million, or $2.37 per diluted share, for the linked quarter, and $202.9 million, or $4.20 per diluted share, for the fourth quarter of 2020. These PTPP-FTE results represent decreases of 1.7% on a linked-quarter basis and 44.1% compared to the fourth quarter of 2020.

 

Notwithstanding higher-than typical operating expenses tied to profitable business growth, charitable contributions, and timing of other investments in the fourth quarter, our teams executed and delivered exceptional operating and financial results in 2021 through strong growth on both sides of the balance


The following information was filed by Umb Financial Corp (UMBF) on Tuesday, January 25, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Umb Financial Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Borrowed Funds
Borrowed Funds (Tables)
Borrowed Funds - Additional Information (Detail)
Borrowed Funds - Carrying Amounts And Market Values Of Securities And Related Repurchase Liabilities And Weighted Average Interest Rates Of Repurchase Liabilities (Detail)
Borrowed Funds - Components Of Long-Term Debt (Detail)
Borrowed Funds - Components Of Long-Term Debt (Parenthetical) (Detail)
Borrowed Funds - Remaining Contractual Maturities Of Repurchase Agreements (Detail)
Business Segment Reporting
Business Segment Reporting (Tables)
Business Segment Reporting - Additional Information (Detail)
Business Segment Reporting - Schedule Of Segment Financial Results (Detail)
Commitments, Contingencies And Guarantees
Commitments, Contingencies And Guarantees (Tables)
Commitments, Contingencies And Guarantees - Additional Information (Detail)
Commitments, Contingencies And Guarantees - Notional Amount Of Off-Balance Sheet Financial Instruments (Detail)
Common Stock And Earnings Per Share
Common Stock And Earnings Per Share (Tables)
Common Stock And Earnings Per Share - Additional Information (Detail)
Common Stock And Earnings Per Share - Shares Used In Calculation Of Basic And Diluted Earnings (Detail)
Common Stock And Earnings Per Share - Summary Of Share Transactions (Detail)
Derivatives And Hedging Activities
Derivatives And Hedging Activities (Tables)
Derivatives And Hedging Activities - Additional Information (Detail)
Derivatives And Hedging Activities - Summary Of Amount Of Gain (Loss) Recognized In Other Non-Interest Expense In Consolidated Statements Of Income Related To Derivative Assets And Liabilities (Detail)
Derivatives And Hedging Activities - Summary Of Effect Of Hedges On Aoci In Consolidated Statements Of Comprehensive Income Related To Company's Derivative Assets And Liabilities (Detail)
Derivatives And Hedging Activities - Summary Of Fair Value Of Derivative Assets And Liabilities (Detail)
Disclosures About Fair Value Of Financial Instruments
Disclosures About Fair Value Of Financial Instruments (Tables)
Disclosures About Fair Value Of Financial Instruments - Assets And Liabilities Measured At Fair Value On Recurring Basis (Detail)
Disclosures About Fair Value Of Financial Instruments - Assets Measured At Fair Value On Non-Recurring Basis (Detail)
Disclosures About Fair Value Of Financial Instruments - Estimated Fair Value Of Financial Instruments (Detail)
Employee Benefits
Employee Benefits (Tables)
Employee Benefits - Additional Information (Detail)
Employee Benefits - Information Relating To Non-Qualified Option Activity (Detail)
Employee Benefits - Status Of Performance Based Restricted Shares (Detail)
Employee Benefits - Status Of Service Based Restricted Shares (Detail)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (Tables)
Goodwill And Other Intangibles - Additional Information (Detail)
Goodwill And Other Intangibles - Changes In Carrying Amount Of Goodwill (Detail)
Goodwill And Other Intangibles - Changes In Intangible Assets (Detail)
Goodwill And Other Intangibles - Estimated Amortization Expense Of Intangible Assets (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (Detail)
Income Taxes - Components Of Income Tax Expense (Benefit) From Continuing Operations (Detail)
Income Taxes - Reconciliation Between Income Tax Expense And Amount Computed By Applying Federal Statutory Tax Rate From Continuing Operations (Detail)
Income Taxes - Reconciliation Of Unrecognized Tax Benefits (Detail)
Loans And Allowance For Credit Losses
Loans And Allowance For Credit Losses (Tables)
Loans And Allowance For Credit Losses - Additional Information (Detail)
Loans And Allowance For Credit Losses - Rollforward Of Allowance For Credit/Loan Losses By Portfolio Segment (Detail)
Loans And Allowance For Credit Losses - Summary Of Amortized Cost Balance By Collateral Type And Risk Rating (Detail)
Loans And Allowance For Credit Losses - Summary Of Amortized Cost Balance Of Each Of Loan Classes Disaggregated By Collateral Type And Origination Year (Detail)
Loans And Allowance For Credit Losses - Summary Of Amortized Cost Balance Of Financial Assets (Detail)
Loans And Allowance For Credit Losses - Summary Of Amortized Cost Of Nonaccrual Loans With No Related Allowance (Detail)
Loans And Allowance For Credit Losses - Summary Of Loan Classes And Aging Of Past Due Loans (Detail)
Loans To Officers And Directors
Loans To Officers And Directors (Tables)
Loans To Officers And Directors - Activity With Respect To Aggregate Loans To Related Parties (Detail)
New Accounting Pronouncements
New Accounting Pronouncements - Additional Information (Detail)
Parent Company Financial Information
Parent Company Financial Information (Tables)
Parent Company Financial Information - Schedule Of Parent Company Balance Sheets (Detail)
Parent Company Financial Information - Schedule Of Parent Company Statements Of Cash Flows (Detail)
Parent Company Financial Information - Schedule Of Parent Company Statements Of Income And Comprehensive Income (Detail)
Premises, Equipment, And Leases
Premises, Equipment, And Leases (Tables)
Premises, Equipment, And Leases - Additional Information (Detail)
Premises, Equipment, And Leases - Components Of Premises And Equipment (Detail)
Premises, Equipment, And Leases - Summary Of Future Minimum Lease Payments (Detail)
Regulatory Requirements
Regulatory Requirements (Tables)
Regulatory Requirements - Actual Capital Amounts As Well As Required And Well-Capitalized Common Equity Tier One, Tier One, Total And Tier One Leverage Ratios (Detail)
Regulatory Requirements - Additional Information (Detail)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Detail)
Revenue Recognition - Summary Of Disaggregation Of Revenue According To Revenue Stream And Business Segment (Detail)
Securities
Securities (Tables)
Securities - Additional Information (Detail)
Securities - Contractual Maturity Information For Securities Held To Maturity (Detail)
Securities - Gross Unrealized Losses And Fair Value Of Investment Securities Available For Sale (Detail)
Securities - Gross Unrealized Losses And Fair Value Of Investment Securities Held To Maturity (Detail)
Securities - Schedule Of Aging Of Past Due Held To Maturity Securities (Detail)
Securities - Schedule Of Amortized Cost Basis By Credit Rating Of Held To Maturity Investment (Detail)
Securities - Schedule Of Amortized Cost, Fair Value And Gross Unrealized Gains And Losses For Securities Held To Maturity (Detail)
Securities - Schedule Of Components Of Investment Securities Gains, Net (Detail)
Securities - Schedule Of Other Securities (Detail)
Securities - Securities Available For Sale (Detail)
Securities - Summary Of Contractual Maturity Information For Securities Available For Sale (Detail)
Securities Purchased Under Agreements To Resell
Securities Purchased Under Agreements To Resell - Additional Information (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Significant Accounting Policies - Summary Of Cash And Cash Equivalents (Detail)
Ticker: UMBF
CIK: 101382
Form Type: 10-K Annual Report
Accession Number: 0001564590-22-006546
Submitted to the SEC: Thu Feb 24 2022 11:03:26 AM EST
Accepted by the SEC: Thu Feb 24 2022
Period: Friday, December 31, 2021
Industry: National Commercial Banks

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