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Sep 30, 2021
UMB Financial Q3 2021 Earnings Report
Reported third quarter net income of $94.5 million.
Key Takeaways
UMB Financial Corporation reported a net income of $94.5 million for the third quarter of 2021, compared to $73.1 million in the third quarter of 2020. Excluding PPP, average loans increased 15.3% on a linked quarter annualized basis. Asset quality remained strong, with net charge offs of just seven basis points and a $5.0 million reduction in provision for credit losses. Total revenue increased 9.8% compared to 2020.
GAAP net income of $94.5 million, or $1.94 per diluted share; net operating income of $95.1 million, or $1.95 per diluted share.
Pre-tax, pre-provision (PTPP) income of $108.8 million, an increase of $9.4 million.
Quarterly average loan balances increased $1.0 billion, or 6.5%.
Quarterly average deposits grew 22.0% to $29.4 billion.
Revenue by Segment
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