UMB Financial Corporation Reports Fourth Quarter Net Income of $120.0 Million and Net Operating Income(i) of $122.6 Million. Full-Year 2024 Net Income of $441.2 Million; Net Operating Income(i) of $461.7 Million.

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[{"type":"text","content":"\nFourth Quarter 2024 Financial Highlights\n\n\n\nGAAP net income of $120.0 million, or $2.44 per diluted share.\n\n\n\nNet operating income(i) of $122.6 million, or $2.49 per diluted share.\n\n\n\nAverage loans increased 14.8% on a linked-quarter, annualized basis, to $25.3 billion.\n\n\n\nAverage loans increased $2.2 billion, or 9.4%, as compared to the fourth quarter of 2023.\n\n\n\nAverage deposits increased 30.9% on a linked-quarter, annualized basis, to $38.0 billion.\n\n\n\nCredit quality remained strong, with net charge-offs of just 0.10% of average loans for the year ended December 31, 2024.\n\n\n\n KANSAS CITY, Mo.--(BUSINESS WIRE)--\nUMB Financial Corporation (Nasdaq: UMBF), a financial services company, announced net income for the fourth quarter of 2024 of $120.0 million, or $2.44 per diluted share, compared to $109.6 million, or $2.23 per diluted share, in the third quarter (linked quarter) and $70.9 million, or $1.45 per diluted share, in the fourth quarter of 2023.\n\n\nNet operating income, a non-GAAP financial measure reconciled later in this release to net income, the nearest comparable GAAP measure, was $122.6 million, or $2.49 per diluted share, for the fourth quarter of 2024, compared to $110.4 million, or $2.25 per diluted share, for the linked quarter and $112.0 million, or $2.29 per diluted share, for the fourth quarter of 2023. Operating pre-tax, pre-provision income (operating PTPP), a non-GAAP measure reconciled later in this release to the components of net income before taxes, the nearest comparable GAAP measure, was $166.9 million, or $3.39 per diluted share, for the fourth quarter of 2024, compared to $154.6 million, or $3.15 per diluted share, for the linked quarter, and $134.9 million, or $2.76 per diluted share, for the fourth quarter of 2023. These operating PTPP results represent increases of 8.0% on a linked-quarter basis and 23.7% compared to the fourth quarter of 2023.\n\n\n“Our fourth quarter financial results punctuated a successful year for UMB Financial, driven by strong operating fundamentals that are the core of our investment thesis for shareholders,” said Mariner Kemper, UMB Financial Corporation chairman and chief executive officer. “Our 2024 results reflect strong growth on both sides of the balance sheet, continued momentum and new client acquisitions in many of our fee income b...

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