UMB Bank (UMBF) Tops Q2 EPS by 96c
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UMB Financial Corporation Reports Second Quarter 2020 Net Income of $60.5 Million
July 28, 2020 5:00 PM EDTSecond Quarter 2020 HighlightsÂ
GAAP net income of $60.5 million, or $1.26 per diluted share; operating net income of $63.8 million, or $1.33 per diluted share. Pre-tax, pre-provision (PTPP) income of $90.2 million, an increase of 7.6% from the linked quarter. Total revenue increased 9.7% to $298.7 million, compared to the linked quarter. Average loans, excluding Paycheck Protection Program (PPP) balances, increased 8.2% on a linked-quarter annualized basis. Loans recorded under the PPP totaled $1.5 billion as of June 30, 2020. Average deposits grew $2.0 billion to $22.8 billion compared to the first quarter of 2020. GAAP book... More