UMB Bank (UMBF) Tops Q3 EPS by 10c, Revenues Miss

UMB Bank (NASDAQ: UMBF) reported Q3 EPS of $1.27, $0.10 better than the analyst estimate of $1.17. Revenue for the quarter came in at $271.9 million versus the consensus estimate of $278.76 million.

“For the third quarter, revenues increased 8.2 percent over the prior year period, driven by an 11.8 percent increase in net interest income,” said Mariner Kemper, chairman, president and chief executive officer. “We are pleased with our reported average loan growth of 10.0 percent over the same period, which is more than double the 4.7 percent growth estimated for the industry as a whole, as reported by the Federal Reserve. Additionally, net charge-offs were just 0.07 percent of average loans for the quarter and 0.29 percent on a year-to-date basis, in line with our long-term historical performance. While the shape of the yield curve and low and declining interest rates pose challenges, strong loan pipelines coupled with our focus on diversified fee income sources will help mitigate some of these headwinds.”

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

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