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Jun 30, 2020
UMB Financial Q2 2020 Earnings Report
Reported net income of $60.5 million for the second quarter of 2020.
Key Takeaways
UMB Financial Corporation reported a strong second quarter with net income of $60.5 million, or $1.26 per diluted share. Total revenue increased by 9.7% to $298.7 million, and average deposits grew to $22.8 billion. The company also added $1.5 billion in loans under the Paycheck Protection Program.
GAAP net income was $60.5 million, or $1.26 per diluted share; operating net income was $63.8 million, or $1.33 per diluted share.
Pre-tax, pre-provision (PTPP) income was $90.2 million, an increase of 7.6% from the linked quarter.
Total revenue increased 9.7% to $298.7 million, compared to the linked quarter.
Average deposits grew $2.0 billion to $22.8 billion compared to the first quarter of 2020.