UMB Financial Corporation reported significant financial growth in its latest quarterly filing, driven primarily by its recent acquisition of Heartland Financial USA, Inc. (HTLF). For the three months ending March 31, 2025, the company recorded net income available to common shareholders of $79.3 million, a decrease from $110.3 million in the same period last year. This resulted in earnings per share of $1.22, down from $2.27 a year earlier. The decline in net income was attributed to increased provisions for credit losses, which rose to $86 million from $10 million in the prior year, largely due to the integration of HTLF's loan portfolio.
Total revenue for UMB Financial increased by 41.4% to $565.2 million, compared to $399.9 million in the first quarter of 2024. This growth was fueled by a 66.1% increase in net interest income, which reached $397.6 million, primarily due to a $9 billion increase in average loans and a significant rise in interest-bearing deposits. The company’s net interest margin improved to 2.96%, up from 2.48% a year earlier, reflecting favorable changes in the mix of earning assets and interest-bearing liabilities.
In terms of operational metrics, UMB Financial's total assets surged to $69.3 billion as of March 31, 2025, a 37.6% increase from $50.4 billion at the end of 2024. This growth was largely driven by the acquisition of HTLF, which added approximately $17.9 billion in assets, including $9.8 billion in loans. The company also reported a total deposit increase of 35.6% to $58.5 billion, with noninterest-bearing deposits comprising 31.5% of total deposits.
The acquisition of HTLF has also led to a substantial increase in the company's goodwill, which rose to $1.8 billion as of March 31, 2025. The integration of HTLF's operations is expected to enhance UMB Financial's market share, particularly in Colorado, New Mexico, Kansas, and Arizona, where it now ranks among the top ten banks. Looking ahead, UMB Financial anticipates continued volatility in economic conditions, which may impact its financial performance and strategic initiatives. The company remains focused on improving operational efficiencies and growing its noninterest income streams while managing credit risk effectively.
About UMB FINANCIAL CORP
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