UMB Bank (UMBF) Tops Q1 EPS by 66c, Revenues Miss

UMB Bank (NASDAQ: UMBF) reported Q1 EPS of $2.10, $0.66 better than the analyst estimate of $1.44. Revenue for the quarter came in at $303.01 million versus the consensus estimate of $309.85 million.

“Our team continued to deliver and execute on core tenets that differentiate our story and value proposition for our shareholders,” said Mariner Kemper, chairman, president and chief executive officer. “During the first quarter, we saw optimistic signs of an improving operating environment. Strong balance sheet growth funded by a growing core deposit base, robust fee income generation from our diversified business lines, and solid asset quality metrics drove our strong financial results. Average loans, excluding Paycheck Protection Program (PPP) balances, increased 8.4% annualized on a linked-quarter basis. Net charge-offs averaged just 13 basis points of loans, while levels of non-performing assets and delinquencies improved from the end of the prior period. The 19-basis-point decline in net interest margin on a linked-quarter basis was due in part to excess liquidity as well as seasonal inflows in some of our businesses, which had approximately a 16 basis-point impact to our margin.”

For earnings history and earnings-related data on UMB Bank (UMBF) click here.

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