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Mar 31, 2024
UMB Financial Q1 2024 Earnings Report
UMB Financial's Q1 2024 performance was marked by strong financial results, driven by balance sheet and net interest income growth, net interest margin expansion, double-digit growth in fee income revenue, and stable credit metrics.
Key Takeaways
UMB Financial Corporation reported a strong start to 2024, with net income of $110.3 million, or $2.25 per diluted share, and net operating income of $120.7 million, or $2.47 per diluted share. The company saw growth in average loans and deposits, as well as an increase in net interest income and noninterest income.
GAAP net income was $110.3 million, or $2.25 per diluted share.
Net operating income was $120.7 million, or $2.47 per diluted share.
Average loans increased 4.2% on a linked-quarter, annualized basis, to $23.4 billion.
Average deposits increased 10.4% on a linked-quarter, annualized basis, to $33.5 billion.
Revenue by Segment
Forward Guidance
While indications suggest the economy is on reasonably stable footing, persistently high inflation, an upcoming presidential election cycle, and a potential ‘No Landing’ scenario may dictate a constrictive Federal Reserve monetary policy that could pose economic challenges.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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