Slide 1: 1st Quarter 2025 Update
1 Quarter 2025 st Update Kansas City, MO April 29, 2025
Slide 2: Presentation Index
Presentation Index Corporate Overview & Investment Thesis 3 Acquisition Update 8 1st Quarter 2025 Results 13 Line of Business Updates 30 Long-Term Performance Trends 41 Appendix 49 Board of Directors Forward-Looking Statements Non-GAAP Reconciliations Peer Group Please refer to the Forward-Looking S
Slide 3: Corporate Overview
Corporate Overview Highlights Founded 1913 Ticker UMBF - Nasdaq Market Cap $7.7 B Total Assets $69.3 B Gross Loans $35.9 B Total Deposits $58.5 B Private Wealth Customer Assets (1) $20.1 B Institutional Assets Under Administration (AUA) (2) $558.9 B UMB Financial Corporation Headquarters Common Equi
Slide 4: Business Model: Our Diverse Foundation
Business Model Our Diverse Foundation Commercial & Personal Banking Services 1Q‘25 Revenue: $398.9 million. 1Q‘25 Average Deposits: $33.7 billion Commercial Consumer Private Wealth Average loans: $27.5B (1) Average loans: $4.1B (1) (2) AUM = $17.6B Average deposits: $22.7B Average deposits: $11.0B A
Slide 5: Investment Thesis: Opportunity in Our Diverse Business Model
Investment Thesis Opportunity in Our Diverse Business Model Diverse deposit base across multiple lines of business, customer segments and geographies ▪ No one commercial sector represents more than 5% of total deposits ▪ Long-tenured relationships: 52% of deposit accounts have been with us for more
Slide 6: Beyond Financials: Our Culture
Beyond Financials Our Culture Our Vision Our Values Creating an unparalleled customer experience requires a culture where our people feel part of something more, something bigger. We foster this experience through our policies, our business decisions and our expectations of each associate. Customers
Slide 7: Beyond Financials: Our Commitment to Corporate Citizenship
Beyond Financials Our Commitment to Corporate Citizenship ESG Efforts Our programs reinforce our values of doing the right thing, supporting our associates and communities, and providing the unparalleled customer experience. ▪ Supporting inclusive, equitable and sustainable economic growth. ▪ Foster
Slide 8: Acquisition Update
Acquisition Update Dubuque, IA
Slide 9: UMBF + HTLF Midwest & Southwest Banking Franchise Highlights
UMBF + HTLF Midwest & Southwest Banking Franchise Highlights ▪ Closed acquisition of HTLF on January 31, 2025 ▪ Executed forward equity agreement on March 14, 2025; issued 3.2mm shares, proceeds of $235mm ▪ Added $14.3 billion of HTLF customer deposits at close ▪ Demonstrated value proposition of HT
Slide 10: Purchase Accounting & Amortization Impacts
Purchase Accounting & Amortization Impacts Purchase Accounting Adjustments Estimate at Actual at $ in millions Announcement Close (1) Loans $636.0 $484.1 Securities AFS 368.4 262.7 Securities HTM 94.0 64.2 Fair Value Marks Time Deposits - 3.4 Subordinated Debt 34.0 11.2 Trust Preferred Securities ("
Slide 11: Income Statement – Acquisition Adjustments
Income Statement – Acquisition Adjustments $ in millions 1Q ‘25 Reported Adjustments 1Q ‘25 Adjusted (1) Net Interest Income 397.6 (28.6) 369.0 Noninterest Income 166.2 - 166.2 Total Revenue 563.8 (28.6) 534.9 (2) Noninterest Expense 384.8 (68.8) 316.0 Pre-Provision Net Revenue 179.0 40.2 219.2 (3)
Slide 12: Projected Acquisition Accounting Impact
Projected Acquisition Accounting Impact Contractual Accretion (1) $ in millions ▪ $28.6 million recognized in 1Q ‘25 ▪ Includes accretion on acquired loans, securities, time deposits and borrowings (1) Projections updated quarterly, assume no prepayments and are subject to change. 12
Slide 13: 1st Quarter 2025 Financial Review
1st Quarter 2025 Financial Review St. Louis, MO
Slide 14: 1Q 2025 Results At-A-Glance
1Q 2025 Results At-A-Glance 1Q ‘24 4Q ‘24 1Q ‘25 Notes $ in millions, except per share amounts Average Loans 23,354.0 25,289.8 32,309.7 1Q'25 avg. includes acquired loans for only 2 months; ex. acquired balances, legacy UMB +8.3% LQ annualized. March '25 monthly avg. loans of $35.8B = UMBF $26.1B /
Slide 15: 1Q 2025 Earnings Highlights
1Q 2025 Earnings Highlights Net Income & Net Op. Income Available to Common (1) Operating PTPP Income (2) $233.3 $168.9 $166.9 $122.6 $120.7 $157.5 $154.6 $110.4 $146.8 $105.9 Net Inc. Avail to Common EPS / common share (GAAP) Operating PTPP Income – gains/losses on inv. securities (3) Adjustments t
Slide 16: Revenue Trends
Revenue Trends Linked-Quarter (1) $ in millions 1Q ‘24 2Q ‘24 3Q ‘24 4Q ‘24 1Q ‘25 $∆ Interest Income 520.1 538.3 557.7 555.0 738.0 183.0 Interest Expense 280.6 293.2 310.3 286.0 340.3 54.3 Net Interest Income $ 239.4 $ 245.1 $ 247.4 $ 269.0 $ 397.6 $ 128.7 Trust & securities processing 69.5 70.0 74
Slide 17: Net Interest Income & Margin
Net Interest Income & Margin $397.6 $28.6 $369.0 $269.0 $239.4 $245.1 $247.4 2.96% $ in millions 2.75% 2.57% 2.48% 2.51% 2.46% 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 NII, ex. PAA Reported NIM NII from PAA NIM ex. PAA $ in millions 1Q ‘24 2Q ‘24 3Q ‘24 4Q ‘24 1Q ‘25 Net Interest Income (GAAP) $239.4 $245.1 $2
Slide 18: Noninterest Income
Noninterest Income $ in millions Current Quarter Commentary $166.2 $165.2 $159.2 $158.7 Noninterest income increased $1.0mm to $166.2mm for 1Q‘25 ▪ 1Q’25 results included two months of HTLF operations $144.9 ▪ Investment security valuations decreased $5.4mm from 4Q’24 ▪ Income from company-owned lif
Slide 19: Noninterest Expense
Noninterest Expense Linked-Quarter (1) $ in millions 1Q ‘24 2Q ‘24 3Q ‘24 4Q ‘24 1Q ‘25 $∆ Salary & Benefits 143.0 142.9 147.0 161.1 221.4 60.3 Occupancy 12.3 11.7 12.3 11.3 16.1 4.8 Equipment 16.5 15.6 16.0 15.3 16.9 1.6 Supplies & services 3.3 3.4 5.0 3.2 4.8 1.6 Marketing & business dev. 6.0 6.6
Slide 20: Diversified Loan Portfolio
Diversified Loan Portfolio Linked-Quarter (1) $ in millions 1Q ‘24 4Q ‘24 1Q ‘25 $∆ $ 32,310 CRE/Construction 9,027 10,007 14,074 4,067 Commercial & Industrial 10,230 10,840 12,939 2,099 Residential Real Estate 2,968 3,144 3,820 676 Consumer 153 177 264 87 $ 25,290 $ 24,387 Credit Card 490 630 690 6
Slide 21: Quarterly Loan Activity
Quarterly Loan Activity 1Q ‘24 2Q ‘24 3Q ‘24 4Q ‘24 1Q ‘25 $ in millions Acquired Loans - - - - $9,819.9 Gross Loan Production 771.2 925.9 1,366.3 1,560.1 1,242.9 Revolving Balance Changes 344.4 501.7 299.8 101.7 429.8 Net (Charge-offs) Recoveries (3.0) (2.9) (8.5) (8.9) (35.9) (1) Payoffs (293.4) (
Slide 22: Strong Asset Quality
Strong Asset Quality Net Loan Charge-Offs (Recoveries) Delinquencies (1) $73.2 $35.9 0.07% 0.10% NCOs - legacy UMBF NCOs – acq. loans NCOs / Avg. Loans NCOs / Avg. Loans, ex. acq. Delinq. - legacy UMBF Delinq. – acquired loans Delinq. / Loans Delinq. / Loans, ex. acq. Nonperforming Loans Allowance f
Slide 23: Detailed Net Charge-Off History
Detailed Net Charge-Off History Annual 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Total Net Charge-Offs $ 6,141 $ 7,673 $ 6,992 $ 8,273 $11,755 $20,258 $21,697 $24,135 $18,091 $14,175 $15,611 (Recoveries) $ thousands Average Total Loans $ 2,758 $ 3,110 $ 3,562 $ 3,888 $ 4,176 $ 4,356 $ 4
Slide 24: Allowance for Credit Losses
Allowance for Credit Losses $ in millions Loans, Leases and HTM Securities Allowance for credit losses at December 31, 2024 261.7 Initial ACL recorded for Purchased Credit Deteriorated ("PCD") acquired loans 62.1 Provision expense for non-PCD loans (initial provision) 62.0 1Q 2025 provision expense
Slide 25: High-Quality Investment Portfolio
High-Quality Investment Portfolio Available-for-Sale (1) Held-to-Maturity (1) $9,635 $7,414 $6,865 $6,778 $6,651 Average balances - $ in millions Average balances - $ in millions $5,653 $5,575 $5,499 $5,628 $5,424 GNMA/GSE Mortgage-Backed General Obligation Municipals Corp. & Commercial Paper GSE Ag
Slide 26: Securities Portfolio Statistics
Securities Portfolio Statistics Net Amortized Fair Securities Portfolio Activity (1) Cost Value Unrealized $ in millions $ in millions; as of 03/31/25 Loss (3) (3) (3) 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 Available for Sale Roll-off / Cash Flow $619 $528 $341 $337 $441 Mortgage-backed 6,413 5,961 (452) Rol
Slide 27: Diversified Deposit Mix
Diversified Deposit Mix Deposits by Line of Business (1) Institutional Commercial $50,285 Fund Services 7% Average Deposits for March 2025 Capital Markets & Corp. Trust $55.7 billion 8% Investor Legacy UMBF – 74% $38,017 Solutions $34,341 $35,292 10% Commercial Banking Legacy HTLF – 26% $33,526 46%
Slide 28: Interest Rate Sensitivity
Interest Rate Sensitivity Impact to Net Interest Income Loan Maturities & Repricing Ramp Scenario ▪ 67% of total end-of-period loans, or ~ $24.1B, are variable. ▪ 71% of total loans reprice within the next 12 months. Of variable loans - % tied to indices for next 12 months: o 70% - 1-Month SOFR o 23
Slide 29: Capital & Liquidity Position
Capital & Liquidity Position Strong Capital Balance Sheet Liquidity Trends Regulatory Capital Ratios $7.4B Pre- pandemic 12.54% $3.9B $4.0B $3.7B $3.5B 10.11% 10.35% $2.1B UMBF $ billions ratio 10.00% 8.47% 6.50% “Well 6.00% Capitalized” 5.00% 8.4% 8.8% 9.3% 9.5% 9.4% 13.3% Int-bearing due from bank
Slide 30: Line of Business Updates
Line of Business Updates Fort Worth, TX
Slide 31: Commercial Banking: Commercial Capabilities
Commercial Banking Commercial Capabilities Commercial Lending Portfolio Average Loan Balance & Composition (1) $30.8B Middle Market ▪ C&I Lending ▪ Working capital lines Sm./Med ▪ Owner-Occupied CRE ▪ Equipment loans Biz 5% Specialized Verticals 15% Investment Real Estate ▪ Industrial ▪ Retail Middl
Slide 32: Commercial Banking: C&I Lending
Commercial Banking C&I Lending Commercial & Industrial Statistics C&I Industries as % of Total UMB Loans (1) ▪ C&I loans or $14.2B = 39.5% of UMB loans ▪ Includes Middle Market, Lending Verticals and Small / Medium Business Tech. & Other (2) ▪ Considerations Telecom Finance & ▫ Internal limits on lo
Slide 33: Commercial Banking: Commercial Real Estate
Commercial Banking Commercial Real Estate Commercial Real Estate Statistics Investment CRE as % of Total UMB Loans (2) Total CRE & construction $16.0B (1) ▪ $16.0B = 44.5% of UMB loans Sr. Living ▪ Owner-occupied – new purchase or refinance Vacant Other (5) Const. / Land Dev. 10% Land ▪ Real estate
Slide 34: Personal Banking: Consumer
Personal Banking Consumer Strategic Acquisition Drives Consumer Growth High Customer Satisfaction Deposits (1) Loans (1) Consumer serves the personal banking needs of clients across all divisions of the bank +78% +27% NPS Score 75.7 $12.9B $4.3B $7.3B $3.4B UMBF Industry Average (2) 57.2 UMBF HTLF H
Slide 35: Personal Banking: Private Wealth Management
Personal Banking Private Wealth Management Customer Assets $17.6B Wealth Management Managed Assets ▪ Financial planning Non-Managed (AUM) ▪ Discretionary investment management AUA $2.4B Other 12% Personal ▪ Strategic wealth solutions for ultra-high net worth 4% Trust families IRAs 26% 6% Non-Managed
Slide 36: Private Investments: Minority Equity & Mezzanine Debt
Private Investments Minority Equity & Mezzanine Debt Providing flexible, tailored capital solutions—including minority equity or subordinated debt—to finance lower-middle market private businesses for long-term growth. UMB Private Investments Overview Target Investment Criteria ▪ Combines the streng
Slide 37: Institutional Banking: Fund Services & Institutional Custody
Institutional Banking Fund Services & Institutional Custody Assets Under Administration Registered Funds & Alternative Investments Provides services for 2,500 funds, including registered and alternative $509B investment funds, PE funds, real estate and venture capital funds and $472B $482B ETFs and
Slide 38: Institutional Banking: Corporate / Specialty Trust & Capital Markets
Institutional Banking Corporate / Specialty Trust & Capital Markets Corporate Trust & Escrow Services Capital Markets Division Provides trustee, paying agent and escrow services to municipal Capital solutions including fixed income sales, trading and underwriting and corporate issuers. for instituti
Slide 39: Institutional Banking: Investor Solutions & Healthcare Services
Institutional Banking Investor Solutions & Healthcare Services Investor Solutions $49B ~90mm Our banking as a service (BaaS) solution includes deposit services for checking, saving, and investment accounts, including expanded FDIC insurance through our proprietary Sweep Program. Sample BaaS Partners
Slide 40: Payments: Credit & Debit Card Products
Payments Credit & Debit Card Products Card Purchase Volume & Interchange Trends 1Q ‘25 Card Spend $5,406 +18.6% $5.4B YoY $4,701 $4,658 $4,558 $4,575 Legacy UMBF – $4.9B +7.5% YoY Legacy HTLF (1) – $506mm #23 23rd in U.S. Credit Card Healthcare Debit Consumer Debit Inst. Cash Mgmt. Purchase Volume (
Slide 41: Long-Term Performance Trends
Long-Term Performance Trends Wickenburg, AZ
Slide 42: Differentiated Revenue Profile: Multiple Sources of Growth
Differentiated Revenue Profile Multiple Sources of Growth Net Interest Income 20 Year CAGR 9.0% $1,000.9 $913.8 $920.1 $815.5 $731.2 $670.9 $610.4 $558.9 $495.3 $412.1 $320.1 $333.3 $350.1 $303.0 $310.6 $317.0 $275.1 $179.1 $217.2 $232.7 $188.3 Annual NII -7% 5% 15% 7% 18% 10% 3% 2% 1% 4% 5% 18% 20%
Slide 43: Balance Sheet Growth Across All Business Cycles
Balance Sheet Growth Across All Business Cycles Average Loans (1) 20 Year CAGR 11.4% Annual Loan Growth 7% 13% 14% 9% 7% 5% 2% 6% 10% 18% 12% 21% 19% 9% 7% 10% 10% 12% 19% 19% 8% Conservative Loans / Deposits (%) 20-year Avg: 61% Average Deposits $35.3 $31.3 $31.8 20 Year $28.9 2.78% CAGR 10.3% $23.
Slide 44: Resilient Credit Metrics Through All Economic Environments
Resilient Credit Metrics Through All Economic Environments Net Charge-Offs / Average Loans ’04 – ‘24 Average 0.27% 0.68% 0.21% 0.10% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 UMBF Peer Median (1) Industry (2) Nonperforming Loans / Loans
Slide 45: Capital & Liquidity Supports Growth Outlook
Capital & Liquidity Supports Growth Outlook Tier 1 Capital Ratio Equity / Assets Tangible Equity / Tangible Assets (2) 20% 15% 10% 5% 0% UMBF Peer Median (1) UMBF Equity / Assets UMBF TCE / Tang. Assets (2) Peer Median TCE / Tang. Assets (1) Cash & Securities / Assets (3) Average Loans / Average Dep
Slide 46: Risk-Adjusted Returns: Rowing Close to Shore
Risk-Adjusted Returns Rowing Close to Shore Risk-Weighted Assets / Assets UMBF Peer Median (1) Return on Risk-Weighted Assets (2) UMBF Peer Median (1) (1) UMB peers (15 banks), data as of latest available annual period. Source: S&P Capital IQ; (2) The numerator for the calculation of Return on Risk-
Slide 47: Dividend Trends: Sustained Growth
Dividend Trends Sustained Growth Annual Dividends Declared (1) 2025 = $1.60 (2) +1.9% vs. 2024 +282.9% 2004 - 2024 (2) (1) Dividends adjusted for 2-for-1 stock split in 2006; (2) Annualized 2025 full-year dividend assumes all 4 quarterly dividends are declared at $0.40/share, consistent with 1Q and
Slide 48: Outperformance: Building Long-Term Value
Outperformance Building Long-Term Value 20-Year Compounded Annual Growth Rates 2004 – 2024 (1) Diluted Earnings Per Share Tangible Book Value Per Share (2) (3) (4) UMBF KRX Peer Median Industry (1) Tangible book value per common share is a non-GAAP measure, reconciled on slide 55. Peer, KRX & Indust
Slide 49: Appendix
Appendix Colorado Springs, CO
Slide 50: Governance: Our Board of Directors
Governance Our Board of Directors Robin Beery Janine Davidson K.C. Gallagher Greg Graves Brad Henderson Jenny Hopkins CC (Chair), RC CC, GC AC, RC Lead Independent AC, RC AC, RC Director, GC (Chair) Mariner Kemper Gordon Lansford Margaret Lazo Susan Murphy Tim Murphy Tammy Peterman Chairman of AC (C
Slide 51: Forward-Looking Statements
Forward-Looking Statements This presentation contains, and our other communications, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as ame
Slide 52: Non-GAAP Reconciliations
Non-GAAP Reconciliations The following are non-GAAP measures used from time to time. To the extent a non-GAAP measure is used in this presentation, a reconciliation to such measure’s closest GAAP equivalent is provided below. This information supplements the results that are reported according to GA
Slide 53: Non-GAAP Reconciliations
Non-GAAP Reconciliations Operating Pre-Tax, Pre-Provision Income Three Months Ended Mar. 31, Dec. 31, Sept. 30, Jun. 30, Mar. 31, 2025 2024 2024 2024 2024 Net interest income (GAAP) $ 397,639 268,974 247,376 245,108 239,434 Noninterest income (GAAP) 166,198 165,211 158,743 144,919 159,244 Noninteres
Slide 54: Non-GAAP Reconciliations
Non-GAAP Reconciliations Tangible Common Equity Ratio Operating Efficiency Ratio As of As of Mar. 31, Dec. 31, Mar. 31, Dec. 31, Mar. 31, Mar. 31, 2025 2024 2024 2004 2025 2004 Common shareholders' equity Noninterest expense (GAAP) $ 384,787 $ 254,804 $ 6,637,730 $ 3,466,541 $ 3,152,816 $ 819,182 (G
Slide 55: Non-GAAP Reconciliations
Non-GAAP Reconciliations Return on Tangible Common Equity & Operating Tangible Book Value (“TBV”) Return on Tangible Common Equity Per Common Share Three Months Ended As of Mar. 31, Mar. 31, Dec. 31, Dec. 31, 2025 2024 2024 2004 Average common shareholders' equity (GAAP) $ 5,493,844 3,143,518 Common
Slide 56: Our Peer Group
Our Peer Group ASB Associated Banc-Corp PNFP Pinnacle Financial Partners BOKF BOK Financial Corporation SSB SouthState Corporation CADE Cadence Bank SNV Synovus Financial Corp. COLB Columbia Banking System, Inc. WBS Webster Financial Corporation CMA Comerica Incorporated WAL Western Alliance Bancorp