Business

July 22, 2014

UMB Financial earnings climb 15.8 percent

The banking company said it earned $34.7 million, or 76 cents a share, in April, May and June, compared with $29.9 million, or 74 cents a share, in the same months a year ago. Profits rose from an increase in loans and from a gain in non-interest income, which includes fees and other sources.

Profits rose 15.8 percent at Kansas City-based UMB Financial Corp.

The banking company said it earned $34.7 million, or 76 cents a share, in April, May and June, compared with $29.9 million, or 74 cents a share, in the same months a year ago.

Interest earnings on loans increased as the average loan total for the quarter was 12 percent higher than a year ago.

Loans totaled $6.9 billion at the end of June, nearly equal to investment securities, which totaled $7.0 billion.

Non-interest income — from fees for securities processing work, trading and investment banking services, and other sources — totaled $134 million during the quarter, which is more than the $86.2 million in net interest income.

UMB had $15.6 billion in total assets at the end of June.

To reach Mark Davis, call 816-234-4372 or send email to mdavis@kcstar.com. Follow him on Facebook and Twitter at mdkcstar.

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