First-quarter UMB Bank earnings show spike

The holding company for UMB Bank on Wednesday reported an earnings increase of more than 7 percent for the first quarter of 2016 when compared to the same quarter last year, according to a news release.

UMB Financial Corp. announced earnings of $36.2 million, or 74 cents per share, for the first quarter. During the first quarter of 2015, UMB reported earnings of $33.8 million, according to the release.

UMB showed earnings of $29.6 million during the fourth quarter of 2015.

Gil Trout, chairman and CEO of UMB’s Kansas region, said in a statement that the bank’s commercial lending business in Kansas is off to a “great start” this year.

“We are pleased to report that loan balances have increased 11.5 percent when compared to the same time last year,” Trout said. “That growth is fueled by several industries performing well, including businesses in the commercial real estate, agribusiness and healthcare banking sectors.”

Overall, the Kansas City-based holding company reported $9.7 billion in loans at the end of March, a 29 percent increase from the first quarter of 2015, according to the release. Part of the bump was due to the company’s acquisition of Marquette Financial Cos. in 2015.

UMB Financial Corp. CEO Mariner Kemper said in a state that the company also recognized savings of $4.9 during the first quarter due to an “efficiency initiative.”

This story was originally published April 27, 2016 at 4:43 PM with the headline "First-quarter UMB Bank earnings show spike."