UMB earnings fall in second quarter

The holding company of UMB Bank reported earnings that were lower in the second quarter when compared with the same period a year ago, according to a news release issued Wednesday.

UMB Financial Corp. announced that its net income fell to $30.2 million, or 65 cents a share, during the second quarter. The results were off nearly 13 percent from second-quarter 2014 earnings, which were reported to be nearly $34.7 million.

The corporation’s chairman, Mariner Kemper, said in the release that the drop was primarily due to “continued revenue headwinds” from Kansas City-based Scout Investments. Kemper said the highlight of the second quarter was the company’s completed acquisition of Marquette Financial Cos., which boosted loans for UMB Financial by $1 billion, according to the release.

In Kansas, loan balances for the second quarter increased 21.8 percent when compared with the same quarter in 2014, said Gil Trout, chairman and CEO of UMB Bank in the state.

“This optimism and growth is fueled by several industries, including commercial real estate, agri-business and manufacturing and distribution,” Trout said.

UMB Financial assets at the end of the quarter totaled $18.4 billion, which included $8.9 billion in loans and $7.5 billion in securities. The recent profit equaled a 0.70 percent return on assets during the quarter.

UMB Bank has more than 100 banking and wealth management centers in eight states, including two branch locations in Wichita.

This story was originally published July 29, 2015 at 12:10 PM with the headline "UMB earnings fall in second quarter."