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Dec 31, 2022
UMB Financial Q4 2022 Earnings Report
Reported net income of $100.2 million for the fourth quarter of 2022 and record full-year earnings.
Key Takeaways
UMB Financial Corporation reported a net income of $100.2 million, or $2.06 per diluted share, for the fourth quarter of 2022, compared to $78.5 million, or $1.61 per diluted share, in the fourth quarter of 2021. The company's revenue increased 14.4% over the prior year to $1.5 billion, driven by growth in average loans, deposits, and noninterest income.
GAAP net income was $100.2 million, or $2.06 per diluted share.
Average loan balances increased $3.6 billion, or 21.6%, compared to the fourth quarter of 2021.
Noninterest income increased 5.7% as compared to the fourth quarter of 2021, equal to 33.9% of total revenue.
Credit quality remained strong, with net charge-offs of just 0.04% of average loans.
UMB Financial
UMB Financial
Forward Guidance
No specific forward guidance provided in the document.