The holding company of UMB Bank said Tuesday that its third-quarter earnings were up, but down for the year.
UMB Financial Corp. said in a news release after the market closed on Tuesday that its net income for the quarter ended Sept. 30 was $34.4 million, a nearly 32 percent gain from net income of $26.1 million in the third quarter of 2012.
For the first nine months of 2013, net income was $99.3 million, down 2.4 percent from $101.7 million in the same period last year.
UMB Financial CEO Mariner Kemper said in the release that a nearly 21 percent increase in loan growth, trust and securities processing revenue and a continued focus on expense control helped improve earnings in the third quarter.
For the year, the Kansas City, Mo.-based company said its non-interest expense — including increases in salary and employee benefit expense, processing fees and equipment — rose nearly 5 percent from the same period in 2012.