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Dec 31, 2023
UMB Financial Q4 2023 Earnings Report
UMB Financial reported strong fourth quarter performance, driven by loan and deposit growth, expanding net interest margin and solid fee income growth. However, results were muted by the FDIC special assessment.
Key Takeaways
UMB Financial Corporation reported a net income of $70.9 million, or $1.45 per diluted share, for the fourth quarter of 2023. The results include a pre-tax expense of $52.8 million for the industry-wide FDIC special assessment. Net operating income was $112.0 million, or $2.29 per diluted share.
GAAP net income of $70.9 million, or $1.45 per diluted share.
Net operating income of $112.0 million, or $2.29 per diluted share.
Average loans increased 6.3% on a linked-quarter, annualized basis, to $23.1 billion.
Average deposits increased 17.2% on a linked-quarter, annualized basis, to $32.7 billion.
UMB Financial
UMB Financial
UMB Financial Revenue by Segment
Revenue by Segment
Commercial Banking Revenue
CapyFin.comInstitutional Banking Revenue
CapyFin.comPersonal Banking Revenue
CapyFin.com Forward Guidance
Looking ahead into 2024, UMB Financial sees a muted but resilient macro-economic environment, and they remain well-positioned with an attractive average loan-to-deposit ratio of 70.7%, strong capital levels, and a high-quality loan portfolio.