UMB Financial: Strong Q4 Results and Acquisition Update

UMB Financial Corporation (Nasdaq: UMBF), a financial services company, has announced that it will release its fourth quarter and full-year 2024 earnings results after market hours on Tuesday, January 28, 2025. The company will host an investor conference call on Wednesday, January 29, at 8:30 a.m. (CT) / 9:30 a.m. (ET) to discuss these results. Interested parties can access the call by dialing (toll-free) 833-470-1428 or (international) 404-975-4839 and requesting to join the UMB Financial call with access code 099512. Alternatively, investors can register in advance and receive a calendar invitation with call access details here: pre-registration. The live webcast can be accessed by visiting investorrelations.umb.com or by using the following link: UMB Financial 4Q 2024 Conference Call. A replay of the conference call will be available through February 12, 2025, by calling (toll-free) 866-813-9403 or (international) 929-458-6194, using the replay access code 612758. The call replay can also be accessed at investorrelations.umb.com.

UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Missouri. UMB offers commercial banking, which includes comprehensive deposit, lending, and investment services, personal banking, which includes wealth management and financial planning services, and institutional banking, which includes asset servicing, corporate trust solutions, investment banking, and healthcare services. UMB operates branches throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona, and Texas. The company also serves business clients nationwide and institutional clients in several countries. For more information, visit UMB.com, UMB Blog, UMB Facebook, and UMB LinkedIn.

UMB Financial Corporation's fourth quarter and full-year 2024 results are expected to provide valuable insights into the company's financial performance and growth prospects. In the third quarter of 2024, UMB reported net income of $109.6 million, or $2.23 per diluted share, compared to $101.3 million, or $2.07 per diluted share, in the second quarter (linked quarter) and $96.6 million, or $1.98 per diluted share, in the third quarter of 2023. Net operating income (a non-GAAP financial measure) was $110.4 million, or $2.25 per diluted share, for the third quarter of 2024, compared to $105.9 million, or $2.16 per diluted share, for the linked quarter and $98.4 million, or $2.02 per diluted share, for the third quarter of 2023. Operating pre-tax, pre-provision income (operating PTPP) (a non-GAAP measure) was $154.6 million, or $3.15 per diluted share, for the third quarter of 2024, compared to $146.8 million, or $3.00 per diluted share, for the linked quarter, and $126.6 million, or $2.60 per diluted share, for the third quarter of 2023. These operating PTPP results represent increases of 5.3% on a linked-quarter basis and 22.1% compared to the third quarter of 2023.

UMB Financial Corporation's acquisition of Heartland Financial USA, Inc. (Nasdaq: HTLF) is expected to significantly impact the company's financial performance and growth prospects. The acquisition, announced in May 2024, is expected to close in the first quarter of 2025, subject to regulatory and other approvals. The combination of the two companies will add further diversity and scale to UMB's already well-diversified financial model, expanding its client base and geographic footprint. The acquisition is expected to generate cost synergies, with UMB estimating that the acquisition will result in annual cost savings of $50 million to $60 million. The acquisition is also expected to be accretive to UMB's earnings per share (EPS) in the first full year following the closing of the transaction, with UMB estimating that the acquisition will add $0.15 to $0.20 to its EPS in the first full year and that the acquisition will be accretive to UMB's EPS in each of the following five years.

Investors will be closely watching UMB Financial Corporation's fourth quarter and full-year 2024 results, as well as the progress of the Heartland Financial acquisition. The company's strong financial performance and growth prospects, combined with the strategic acquisition of Heartland Financial, position UMB Financial Corporation as an attractive investment opportunity for those seeking exposure to the financial services sector. As UMB continues to execute on its strategic initiatives and deliver strong financial results, investors can expect the company to maintain its momentum and continue to create value for shareholders.