UMB Bank (UMBF) Tops Q3 EPS by 57c

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UMB Financial Corporation Reports Third Quarter 2020 Net Income of $73.1 Million and Announces 3.2% Dividend Increase

October 27, 2020 5:00 PM EDT

Third Quarter 2020 Highlights

GAAP net income of $73.1 million, or $1.52 per diluted share; net operating income of $76.4 million, or $1.59 per diluted share. Pre-tax, pre-provision (PTPP) income of $99.4 million, an increase of 10.2% from the linked quarter. Average loans increased 16.8% on a linked-quarter, annualized basis. Average deposits grew $1.3 billion to $24.1 billion compared to the second quarter of 2020. GAAP book value per share increased 13.8% to $59.43, and tangible book value per share increased 14.5% to $55.19, compared to a year ago. Credit quality remained strong, with net charge-offs of just 0.13% of... More