UMB Bank (UMBF) Misses Q3 EPS by 33c
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UMB Financial Corporation Reports Third Quarter Net Income of $88.0 Million and Announces 2.7% Cash Dividend Increase
October 25, 2022 4:15 PM EDTThird Quarter 2022 Financial Highlights
GAAP net income of $88.0 million, or $1.81 per diluted share. Average loan balances increased $2.5 billion, or 15.1%, compared to the third quarter of 2021. Average deposits grew 1.3% compared to the third quarter of 2021. Noninterest income increased 19.3% as compared to the third quarter of 2021, equal to 35.5% of total revenue. Excluding Paycheck Protection Program (PPP) balances, average loans increased 21.9% on a linked-quarter, annualized basis. Net interest margin expanded 16 basis points from the linked quarter. Credit quality remained strong, with net charge-offs of just 0.02% of average... More