umbf-8k_20211026.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): 10/26/2021

UMB FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Commission File Number: 001-38481

Missouri		43-0903811
(State or other jurisdiction of		(IRS Employer
incorporation)		Identification No.)

1010 Grand Blvd., Kansas City, MO 64106

(Address of principal executive offices, including zip code)

(816) 860-7000

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13c-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $1.00 Par Value	UMBF	The NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02Results of Operations and Financial Condition

On October 26, 2021, UMB Financial Corporation (the “Company”) issued a press release announcing the financial results for the Company for the quarter and period ended September 30, 2021. A copy of the press release is attached as Exhibit 99.1 and the information is hereby incorporated by reference herein.

The information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished and shall not be deemed to be “filed” with the Securities and Exchange Commission (“SEC”) for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section and is not incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to this Current Report on Form 8-K in such a filing.

Item 7.01 Regulation FD Disclosure

On October 26, 2021, the Company announced in the same press release that the Board of Directors of the Company (“the Board”) had declared a quarterly dividend of $0.37 per share that is payable on January 3, 2022 to shareholders of record of the Company as of the close of business on December 10, 2021.

The Company is furnishing a copy of materials that will be used in the Company’s shareholder conference call at 8:30 a.m. (CT) on October 27, 2021. A copy of the materials is attached as Exhibit 99.2 and will be available on the Company’s website at www.umb.com. The materials are dated October 26, 2021, and the Company disclaims any obligation to correct or update any of the materials in the future.

The information provided under Item 7.01 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 hereto, is being furnished and is not deemed to be “filed” with the SEC for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section and is not incorporated by reference into any filing of the Company under the Securities Act or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to this Current Report on Form 8-K in such a filing.

Item 9.01 Financial Statements and Exhibits


99.1	Press Release announcing financial results for quarter and period ended September 30, 2021, and announcing dividend declaration.
99.2	Investor Presentation Materials, dated October 26, 2021.
104	The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


UMB FINANCIAL CORPORATION
By:	/s/ Ram Shankar
	Ram Shankar Chief Financial Officer

Date: October 26, 2021

Exhibit 99.1

UMB Financial Corporation News Release

1010 Grand Boulevard

Kansas City, MO 64106

816.860.7000

umb.com

//FOR IMMEDIATE RELEASE//

Media Contact: Stephanie Hague: 816.860.5088

Investor Relations Contact: Kay Gregory: 816.860.7106

UMB Financial Corporation Reports Third Quarter Net Income of $94.5 Million

Third quarter 2021 Financial Highlights (all comparisons to prior year unless otherwise noted)

•

GAAP net income of $94.5 million, or $1.94 per diluted share; net operating income of $95.1 million, or $1.95 per diluted share.

•

Pre-tax, pre-provision (PTPP) income of $108.8 million, an increase of $9.4 million.

•

Quarterly average loan balances increased $1.0 billion, or 6.5%.

•

Excluding Paycheck Protection Program (PPP) balances, average loans increased 15.3% on a linked-quarter, annualized basis.

•

Quarterly average deposits grew 22.0% to $29.4 billion.

KANSAS CITY, Mo. (October 26, 2021) – UMB Financial Corporation (Nasdaq: UMBF), a financial services company, announced net income for the third quarter of 2021 of $94.5 million, or $1.94 per diluted share, compared to $87.4 million, or $1.79 per diluted share, in the second quarter of 2021 (linked quarter) and $73.1 million, or $1.52 per diluted share, in the third quarter of 2020.

Net operating income, a non-GAAP financial measure reconciled to net income, the nearest comparable GAAP measure, later in this release, was $95.1 million, or $1.95 per diluted share, for the third quarter of 2021, compared to $87.6 million, or $1.80 per diluted share, for the linked quarter and $76.4 million, or $1.59 per diluted share, for the third quarter of 2020. Pre-tax, pre-provision income on a fully tax equivalent basis (PTPP-FTE), a non-GAAP measure reconciled to the components of net income before taxes, the nearest comparable GAAP measure, later in this release, was $115.3 million, or $2.37 per diluted share, for the third quarter of 2021, compared to $138.0 million, or $2.83 per diluted share, for the linked quarter, and $106.2 million, or $2.21 per diluted share, for the third quarter of 2020. These PTPP-FTE results represent a decrease of 16.4% on a linked-quarter basis and an increase of 8.6% compared to the third quarter of 2020.

Summary of quarterly financial results	UMB Financial Corporation
(unaudited, dollars in thousands, except per share data)
	Q3			Q2			Q3
	2021			2021			2020
Net income (GAAP)	$	94,467		$	87,412		$	73,092
Earnings per share (diluted)		1.94			1.79			1.52

Pre-tax, pre-provision income (Non-GAAP)		108,803			131,322			99,385
Pre-tax, pre-provision earnings per share (diluted)		2.23			2.70			2.07

Pre-tax, pre-provision income - FTE (Non-GAAP)		115,347			137,951			106,182
Pre-tax, pre-provision earnings per share - FTE (diluted)		2.37			2.83			2.21

Net operating income (Non-GAAP)		95,112			87,634			76,434
Operating earnings per share (diluted)		1.95			1.80			1.59

GAAP
Return on average assets		1.04	%		1.02	%		0.99	%
Return on average equity		11.89			11.43			10.23
Efficiency ratio		65.62			60.41			66.14

Non-GAAP
Operating return on average assets		1.05	%		1.03	%		1.03	%
Operating return on average equity		11.97			11.46			10.70
Operating efficiency ratio		65.36			60.33			64.69

Summary of year-to-date financial results	UMB Financial Corporation
(unaudited, dollars in thousands, except per share data)	September			September
	YTD			YTD
	2021			2020
Net income (GAAP)	$	274,522		$	130,182
Earnings per share (diluted)		5.64			2.69

Pre-tax, pre-provision income (Non-GAAP)		342,191			273,283
Pre-tax, pre-provision earnings per share (diluted)		7.03		5.65

Pre-tax, pre-provision income - FTE (Non-GAAP)		362,042			293,162
Pre-tax, pre-provision earnings per share - FTE (diluted)		7.44		6.06

Net operating income (Non-GAAP)		275,526			138,388
Operating earnings per share (diluted)		5.66			2.86

GAAP
Return on average assets		1.07	%		0.62	%
Return on average equity		11.95			6.30
Efficiency ratio		64.06			68.40

Non-GAAP
Operating return on average assets		1.07	%		0.66	%
Operating return on average equity		11.99			6.69
Operating efficiency ratio		63.93			67.18

“Our market share gains continue to differentiate us from our peers as evidenced in our third quarter 2021 results,” said Mariner Kemper, chairman, president and chief executive officer. “Excluding PPP, average loans increased 15.3% on a linked quarter annualized basis, driven by solid performance in commercial

and industrial lending, as well as in both commercial and residential real estate. Asset quality remained strong in the quarter, with net charge offs of just seven basis points and a $5.0 million reduction in provision for credit losses. Additionally, on a year-to-date basis, total revenue increased 9.8% compared to 2020 despite a challenging interest rate environment, highlighting the resilience of our business model.”

Summary of revenue	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q3			Q2			Q3			CQ vs.			CQ vs.
	2021			2021			2020			LQ			PY
Net interest income	$	209,765		$	201,071		$	184,384		$	8,694		$	25,381
Noninterest income:
Trust and securities processing		56,914			53,863			50,552			3,051			6,362
Trading and investment banking		5,936			8,670			8,678			(2,734	)		(2,742	)
Service charges on deposit accounts		19,881			22,592			19,650			(2,711	)		231
Insurance fees and commissions		285			245			259			40			26
Brokerage fees		2,899			2,592			4,819			307			(1,920	)
Bankcard fees		17,198			16,063			15,295			1,135			1,903
Investment securities (losses) gains, net		(3,510	)		15,455			(475	)		(18,965	)		(3,035	)
Other		8,304			12,109			14,218			(3,805	)		(5,914	)
Total noninterest income	$	107,907		$	131,589		$	112,996		$	(23,682	)	$	(5,089	)
Total revenue	$	317,672		$	332,660		$	297,380		$	(14,988	)	$	20,292
Net interest income (FTE)	$	216,309		$	207,700		$	191,181
Net interest margin (FTE)		2.52	%		2.56	%		2.73	%
Total noninterest income as a % of total revenue		33.97			39.56			38.00

Net interest income

•

Net interest income totaled $209.8 million, which is an increase of $8.7 million as compared to the linked quarter. The benefit from growth in average earning assets was partially offset by reduced income from PPP loans. Average earning assets increased $1.5 billion, or 4.7%, driven by an increase in liquidity and investment securities, while interest-bearing liabilities increased $799.2 million, or 4.0%.

•

Net interest margin for the third quarter was 2.52%, a decrease of four basis points from the linked quarter, driven in large part by earning asset mix shift. Earning asset yields declined five basis points from the linked quarter, driven by a three-basis-point decline in securities yields and mix changes. The cost of interest-bearing liabilities decreased one basis point to 0.22%. Net interest spread decreased four basis points to 2.43% from the linked quarter and was 20 basis points lower than the third quarter of 2020.

•

On a year-over-year basis, net interest income increased $25.4 million, or 13.8%, driven by a $2.1 billion, or 21.3% increase in average securities, coupled with a $1.0 billion, or 6.5%, increase in average loans. These increases were driven by organic loan growth, excess liquidity, and the company’s PPP participation.

•

Average deposits increased 5.9% on a linked-quarter basis and 22.0% compared to the third quarter of 2020. Average noninterest-bearing demand deposit balances increased 6.5% on a linked-quarter basis and 38.0% compared to the third quarter of 2020.

Noninterest income

•

Third quarter 2021 noninterest income decreased $23.7 million, or 18.0%, on a linked-quarter basis, largely due to:

A decrease of $19.0 million in investment securities gains, driven by a mark-to-market decline of $13.2 million on the company’s marketable investments, primarily in Tattooed Chef, Inc. (TTCF), as well as $5.6 million in lower gains on other equity investments that benefited the prior quarter.

A decrease of $3.5 million in derivative income, recorded in other income.

Decreases of $2.7 million in both trading and investment banking and service charges on deposits due to lower trading volume and reduced healthcare income related to customer transfer and conversion fees realized in the prior quarter, respectively.

These decreases were offset by increases of $3.1 million in trust and securities processing income and $1.1 million in bankcard fees. The increase in trust and securities processing income is primarily driven by increases of $2.6 million in fund services income and $0.3 million in trust services income. The increase in bankcard income is due to increased interchange income and reduced rebates expense.

•

Compared to the prior year, noninterest income in the third quarter of 2021 decreased $5.1 million, or 4.5%, primarily driven by:

A decrease of $4.0 million and $3.4 million in company-owned life insurance income and derivative income, respectively, both recorded in other income. The decrease in company-owned life insurance is offset by a proportionate decrease in deferred compensation expense as noted below.

A decrease of $3.0 million in investment securities gains, primarily due to mark-to-market valuations on the company’s equity investment in TTCF.

A $2.7 million decrease in trading and investment banking due to decreased trading volumes.

These decreases were offset by an increase of $6.4 million in trust and securities processing income and an increase of $1.1 million in bank-owned life insurance, recorded in other income. The increase in trust and securities processing was driven by increases of $7.2 million and $1.3 million in fund services income and corporate trust income, respectively, partially offset by a decrease of $2.2 million trust services income.

Noninterest expense

Summary of noninterest expense	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q3		Q2		Q3		CQ vs.			CQ vs.
	2021		2021		2020		LQ			PY
Salaries and employee benefits	$	124,986	$	120,415	$	124,194	$	4,571		$	792
Occupancy, net		12,207		12,296		12,027		(89	)		180
Equipment		19,701		19,196		20,968		505			(1,267	)
Supplies and services		3,379		3,469		3,442		(90	)		(63	)
Marketing and business development		4,863		4,797		3,038		66			1,825
Processing fees		16,562		16,501		12,812		61			3,750
Legal and consulting		7,646		8,147		7,244		(501	)		402
Bankcard		4,795		4,529		4,834		266			(39	)
Amortization of other intangible assets		1,110		1,157		1,524		(47	)		(414	)
Regulatory fees		3,186		2,769		2,309		417			877
Other		10,434		8,062		5,603		2,372			4,831
Total noninterest expense	$	208,869	$	201,338	$	197,995	$	7,531		$	10,874

•

Noninterest expense for the third quarter of 2021 was $208.9 million, an increase of $7.5 million, or 3.7%, from the linked quarter and an increase of $10.9 million, or 5.5%, from the third quarter of 2020.

•

The linked-quarter increase in noninterest expense was driven by:

An increase of $4.6 million in salaries and employee benefits, driven primarily by increased bonus expense from higher company performance.

An increase of $2.7 million in operational losses, recorded in other expense.

•

The year-over-year increase in noninterest expense was driven by:

An increase of $3.8 million in processing fees, due to timing of software projects.

Increases of $3.0 million in operational losses and $1.3 million in charitable contributions expense, both recorded in other expense.

Increases of $1.2 million in travel and entertainment expense and $0.7 million in advertising expense, both recorded in marketing and business development.

An increase of $0.8 million in salary and benefit expense, driven by an increase of $4.5 million in salary and bonus expense, partially offset by a decrease of $3.7 million in employee benefit expense. The decline in employee benefit expense was primarily driven by a decrease of $2.7 million in deferred compensation expense. The decrease in deferred compensation expense was offset by the decrease in company-owned life insurance income noted above.

Income taxes

•

The company’s effective tax rate was 17.0% for the nine months ended September 30, 2021, compared to 11.9% for the same period in 2020. The increase in the effective tax rate for 2021 is primarily attributable to a smaller portion of income being earned from tax-exempt municipal securities.

Balance sheet

•

Average total assets for the third quarter of 2021 were $35.9 billion compared to $34.3 billion for the linked quarter and $29.5 billion for the same period in 2020.

Summary of average loans and leases - QTD Average					UMB Financial Corporation
(unaudited, dollars in thousands)
	Q3		Q2		Q3		CQ vs.			CQ vs.
	2021		2021		2020		LQ			PY
Commercial and industrial	$	7,097,248	$	7,402,653	$	7,043,780	$	(305,405	)	$	53,468
Specialty lending		486,021		505,687		456,847		(19,666	)		29,174
Commercial real estate		6,285,348		6,165,780		5,744,344		119,568			541,004
Consumer real estate		2,178,010		2,068,663		1,755,249		109,347			422,761
Consumer		115,702		122,439		150,814		(6,737	)		(35,112	)
Credit cards		400,189		386,032		371,444		14,157			28,745
Leases and other		194,235		166,420		209,238		27,815			(15,003	)
Total loans	$	16,756,753	$	16,817,674	$	15,731,716	$	(60,921	)	$	1,025,037

•

Average loans for the third quarter of 2021 decreased 0.4% on a linked-quarter basis and increased 6.5% compared to the third quarter of 2020 primarily due to the company’s participation in the PPP. Excluding PPP balances, average loans increased 3.8% on a linked-quarter basis.

Summary of average securities - QTD Average	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q3		Q2		Q3		CQ vs.			CQ vs.
	2021		2021		2020		LQ			PY
Securities available for sale:
U.S. Treasury	$	17,903	$	40,013	$	30,881	$	(22,110	)	$	(12,978	)
U.S. Agencies		94,049		94,794		242,504		(745	)		(148,455	)
Mortgage-backed		6,766,619		6,096,099		4,829,586		670,520			1,937,033
State and political subdivisions		3,530,031		3,565,443		3,407,508		(35,412	)		122,523
Commercial Paper		—		—		3,478		—			(3,478	)
Corporates		158,326		127,581		58,866		30,745			99,460
Total securities available for sale	$	10,566,928	$	9,923,930	$	8,572,823	$	642,998		$	1,994,105
Securities held to maturity:
State and political subdivisions	$	1,073,133	$	1,057,091	$	1,085,297	$	16,042		$	(12,164	)
Trading securities		25,392		21,409		32,894		3,983			(7,502	)
Other securities		262,453		302,981		156,816		(40,528	)		105,637
Total securities	$	11,927,906	$	11,305,411	$	9,847,830	$	622,495		$	2,080,076

•

Average securities available for sale increased 6.5% on a linked-quarter basis and 23.3% compared to the third quarter of 2020.

Summary of average deposits - QTD Average				UMB Financial Corporation
(unaudited, dollars in thousands)
	Q3			Q2			Q3			CQ vs.			CQ vs.
	2021			2021			2020			LQ			PY
Deposits:
Noninterest-bearing demand	$	11,400,143		$	10,701,656		$	8,260,170		$	698,487		$	3,139,973
Interest-bearing demand and savings		17,376,135			16,421,742			15,125,267			954,393			2,250,868
Time deposits		651,727			659,228			741,750			(7,501	)		(90,023	)
Total deposits	$	29,428,005		$	27,782,626		$	24,127,187		$	1,645,379		$	5,300,818
Noninterest bearing deposits as % of total		38.74	%		38.52	%		34.24	%

•

Average deposits increased 5.9% on a linked-quarter basis and 22.0% compared to the third quarter of 2020.

•

Average noninterest-bearing demand deposits increased 6.5% on a linked-quarter basis to $11.4 billion.

Capital

Capital information	UMB Financial Corporation
(unaudited, dollars in thousands, except per share data)
	September 30, 2021			June 30, 2021			September 30, 2020
Total equity	$	3,112,840		$	3,090,244		$	2,854,180
Book value per common share		64.37			63.92			59.43
Tangible book value per common share		60.44			59.96			55.19

Regulatory capital:
Common equity Tier 1 capital	$	2,811,117		$	2,730,062		$	2,402,785
Tier 1 capital		2,811,117			2,730,062			2,402,785
Total capital		3,248,869			3,172,878			2,854,598

Regulatory capital ratios:
Common equity Tier 1 capital ratio		12.26	%		11.91	%		11.93	%
Tier 1 risk-based capital ratio		12.26			11.91			11.93
Total risk-based capital ratio		14.17			13.84			14.17
Tier 1 leverage ratio		7.87			8.00			8.19

•

At September 30, 2021, the regulatory capital ratios presented in the foregoing table exceeded all “well-capitalized” regulatory thresholds.

Asset Quality

Credit quality	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q3			Q2			Q1			Q4			Q3
	2021			2021			2021			2020			2020
Net charge-offs - Total loans	$	3,127		$	28,374		$	5,310		$	1,801		$	5,111
Net loan charge-offs as a % of total average loans		0.07	%		0.68	%		0.13	%		0.04	%		0.13	%
Loans over 90 days past due	$	2,319		$	1,265		$	1,773		$	1,952		$	1,372
Loans over 90 days past due as a % of total loans		0.01	%		0.01	%		0.01	%		0.01	%		0.01	%
Nonaccrual and restructured loans	$	96,536		$	58,219		$	76,706		$	87,823		$	93,695
Nonaccrual and restructured loans as a % of total loans		0.59	%		0.34	%		0.46	%		0.55	%		0.59	%
Provision for credit losses	$	(5,000	)	$	24,000		$	(7,500	)	$	5,000		$	16,000

•

Provision for credit losses for the third quarter decreased $29.0 million from the linked quarter and $21.0 million from the third quarter of 2020. Provision expense in the second quarter of 2021 included the impact to the Allowance for Credit Losses (ACL) of a large charge-off, offset by the impacts of positive macro-economic metrics. The decline in provision expense in the third quarter represents a release of ACL based on positive macro-economic data and portfolio credit metrics.

•

Net charge-offs for the third quarter totaled $3.1 million, or 0.07%, of average loans, compared to $28.4 million, or 0.68%, of average loans in the linked quarter, and $5.1 million, or 0.13%, of average loans for the third quarter of 2020.

Dividend Declaration

At the company’s quarterly board meeting, the Board of Directors declared a $0.37 per share quarterly cash dividend, payable on January 3, 2022, to shareholders of record at the close of business on December 10, 2021.

Conference Call

The company plans to host a conference call to discuss its third quarter 2021 earnings results on Wednesday, October 27, 2021, at 8:30 a.m. (CT).

Interested parties may access the call by dialing (toll-free) 877-267-8760 or (international) 412-542-4148 and requesting to join the UMB Financial call. The live call may also be accessed by visiting investorrelations.umb.com or by using the following link:

UMB Financial 3Q 2021 Conference Call

A replay of the conference call may be heard through November 10, 2021 by calling (toll-free)

877-344-7529 or (international) 412-317-0088. The replay access code required for playback is 10160723. The call replay may also be accessed at investorrelations.umb.com.

Non-GAAP Financial Information

In this release, we provide information about net operating income, operating earnings per share - diluted (operating EPS), operating return on average equity (operating ROE), operating return on average assets (operating ROA), operating noninterest expense, operating efficiency ratio, pre-tax, pre-provision income, pre-tax, pre-provision earnings per share – diluted (PTPP EPS), pre-tax, pre-provision income on a fully tax equivalent basis (PTPP-FTE), pre-tax, pre-provision FTE earnings per share – diluted (PTPP-FTE EPS), tangible shareholders’ equity, and tangible book value per share, all of which are non-GAAP financial measures. This information supplements the results that are reported according to generally accepted accounting principles in the United States (GAAP) and should not be viewed in isolation from,

or as a substitute for, GAAP results. The differences between the non-GAAP financial measures – net operating income, operating EPS, operating ROE, operating ROA, operating noninterest expense, operating efficiency ratio, PTPP, PTPP EPS, PTPP-FTE, PTPP-FTE EPS, tangible shareholders’ equity, and tangible book value per share – and the nearest comparable GAAP financial measures are reconciled later in this release. The company believes that these non-GAAP financial measures and the reconciliations may be useful to investors because they adjust for acquisition-, severance-, and COVID-19 related items that management does not believe reflect the company’s fundamental operating performance. COVID-19 related expense includes hazard pay for branch associates, computer hardware expense to support associates working remotely, and additional equipment, cleaning, and janitorial supplies to protect the well-being of our associates and customers while on the company’s premises.

Net operating income for the relevant period is defined as GAAP net income, adjusted to reflect the impact of excluding expenses related to acquisitions, severance expense, COVID-19 related expense, and the cumulative tax impact of these adjustments.

Operating EPS (diluted) is calculated as earnings per share as reported, adjusted to reflect, on a per share basis, the impact of excluding the non-GAAP adjustments described above for the relevant period. Operating ROE is calculated as net operating income, divided by the company’s average total shareholders’ equity for the relevant period. Operating ROA is calculated as net operating income, divided by the company’s average assets for the relevant period. Operating noninterest expense for the relevant period is defined as GAAP noninterest expense, adjusted to reflect the pre-tax impact of non-GAAP adjustments described above. Operating efficiency ratio is calculated as the company’s operating noninterest expense, net of amortization of other intangibles, divided by the company’s total non-GAAP revenue (calculated as net interest income plus noninterest income, less gains on sales of securities available for sale, net).

PTPP income for the relevant period is defined as GAAP net income, adjusted to reflect the impact of excluding income tax and provision expenses.

PTPP-FTE for the relevant period is defined as GAAP net interest income on a fully tax equivalent basis plus noninterest income, less noninterest expense.

Tangible shareholders’ equity for the relevant period is defined as GAAP shareholders’ equity, net of intangible assets. Tangible book value per share is defined as tangible shareholders’ equity divided by the Company’s total shares outstanding.

Forward-Looking Statements:

This press release contains, and our other communications may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “outlook,” “forecast,” “target,” “trend,” “plan,” “goal,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, results, or aspirations. All forward-looking statements are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Our actual future objectives, strategies, plans, prospects, performance, condition, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events, circumstances, or aspirations to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2020, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (SEC). In addition to such factors that have been disclosed previously, the COVID-19 pandemic (the pandemic) may also cause actual results or other future events, circumstances, or aspirations to differ from our forward-looking statements. The pandemic

has created a global public-health crisis that has resulted in widespread volatility and deteriorations in household, business, economic, and market conditions. It is currently adversely affecting the company and its customers, counterparties, employees, and first-party service providers, and the continued adverse impacts on our business, financial position, results of operations, and prospects could be significant. We are not able to accurately predict the extent of the impact of the pandemic on our capital, liquidity, and other financial positions and on our business, results of operations, and prospects at this time, and we believe it will depend on a number of evolving factors, including: (i) the duration, extent and severity of the pandemic; (ii) the response of governmental and non-governmental authorities to the pandemic, which is rapidly changing and not always coordinated or consistent across jurisdictions; (iii) the effect of the pandemic on our customers, counterparties, employees and first-party service providers, which may vary widely, and which is generally expected to increase our credit, counterparty, operational, and other risks; and (iv) the effect of the pandemic on economies and markets, which in turn could adversely affect, among other things, the origination of new loans and the performance of our existing loans. Any forward-looking statement should be evaluated in light of these considerations. Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except to the extent required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K, or other applicable document that is filed or furnished with the SEC.

About UMB:

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, and serves business and institutional clients nationwide. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn, or follow us on Twitter at @UMBBank. For information about UMB’s operations, approach and relief measures during the COVID-19 pandemic, please visit umb.com/COVID-19.

Consolidated Balance Sheets	UMB Financial Corporation
(unaudited, dollars in thousands)
	September 30,
	2021			2020
ASSETS
Loans	$	16,469,463		$	15,950,177
Allowance for credit losses on loans		(194,156	)		(211,688	)
Net loans		16,275,307			15,738,489
Loans held for sale		4,645			10,978
Securities:
Available for sale		11,162,690			8,719,246
Held to maturity, net of allowance for credit losses		1,087,308			1,067,501
Trading securities		68,882			49,154
Other securities		274,645			159,994
Total securities		12,593,525			9,995,895
Federal funds sold and resell agreements		1,092,104			1,101,313
Interest-bearing due from banks		5,739,267			1,613,675
Cash and due from banks		426,843			440,659
Premises and equipment, net		273,378			295,090
Accrued income		122,798			132,574
Goodwill		174,518			180,867
Other intangibles, net		15,526			22,657
Other assets		836,374			718,775
Total assets	$	37,554,285		$	30,250,972

LIABILITIES
Deposits:
Noninterest-bearing demand	$	13,189,739		$	8,752,882
Interest-bearing demand and savings		17,461,390			15,298,562
Time deposits under $250,000		415,068			491,378
Time deposits of $250,000 or more		169,613			195,085
Total deposits		31,235,810			24,737,907
Federal funds purchased and repurchase agreements		2,500,340			1,929,004
Short-term debt		—			15,000
Long-term debt		271,049			269,044
Accrued expenses and taxes		249,567			255,720
Other liabilities		184,679			190,117
Total liabilities		34,441,445			27,396,792

SHAREHOLDERS' EQUITY
Common stock		55,057			55,057
Capital surplus		1,102,818			1,085,375
Retained earnings		2,116,568			1,750,389
Accumulated other comprehensive income, net		164,307			299,103
Treasury stock		(325,910	)		(335,744	)
Total shareholders' equity		3,112,840			2,854,180
Total liabilities and shareholders' equity	$	37,554,285		$	30,250,972

Consolidated Statements of Income	UMB Financial Corporation
(unaudited, dollars in thousands except share and per share data)
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2021			2020			2021		2020
INTEREST INCOME
Loans	$	159,242		$	142,441		$	463,949	$	433,471
Securities:
Taxable interest		33,307			26,393			90,249		79,475
Tax-exempt interest		24,458			25,377			74,165		74,393
Total securities income		57,765			51,770			164,414		153,868
Federal funds and resell agreements		2,389			2,248			7,762		9,273
Interest-bearing due from banks		1,699			299			3,235		3,360
Trading securities		231			259			579		1,225
Total interest income		221,326			197,017			639,939		601,197
INTEREST EXPENSE
Deposits		6,741			9,284			20,113		50,259
Federal funds and repurchase agreements		1,596			1,730			5,261		10,061
Other		3,224			1,619			9,614		4,323
Total interest expense		11,561			12,633			34,988		64,643
Net interest income		209,765			184,384			604,951		536,554
Provision for credit losses		(5,000	)		16,000			11,500		125,500
Net interest income after provision for credit losses		214,765			168,384			593,451		411,054
NONINTEREST INCOME
Trust and securities processing		56,914			50,552			165,611		143,873
Trading and investment banking		5,936			8,678			23,962		23,252
Service charges on deposit accounts		19,881			19,650			64,449		63,805
Insurance fees and commissions		285			259			950		1,051
Brokerage fees		2,899			4,819			8,825		20,432
Bankcard fees		17,198			15,295			47,934		44,756
Investment securities (losses) gains, net		(3,510	)		(475	)		3,609		7,624
Other		8,304			14,218			33,053		27,083
Total noninterest income		107,907			112,996			348,393		331,876
NONINTEREST EXPENSE
Salaries and employee benefits		124,986			124,194			373,082		366,192
Occupancy, net		12,207			12,027			36,438		35,618
Equipment		19,701			20,968			58,512		63,711
Supplies and services		3,379			3,442			10,340		11,412
Marketing and business development		4,863			3,038			12,005		10,962
Processing fees		16,562			12,812			48,480		39,805
Legal and consulting		7,646			7,244			21,548		19,574
Bankcard		4,795			4,834			14,280		14,243
Amortization of other intangible assets		1,110			1,524			3,647		4,916
Regulatory fees		3,186			2,309			8,501		7,886
Other		10,434			5,603			24,320		20,828
Total noninterest expense		208,869			197,995			611,153		595,147
Income before income taxes		113,803			83,385			330,691		147,783
Income tax expense		19,336			10,293			56,169		17,601
NET INCOME	$	94,467		$	73,092		$	274,522	$	130,182

PER SHARE DATA
Net income – basic	$	1.96		$	1.52		$	5.69	$	2.70
Net income – diluted		1.94			1.52			5.64		2.69
Dividends		0.37			0.31			1.01		0.93
Weighted average shares outstanding – basic		48,319,414			47,947,056			48,237,819		48,208,447
Weighted average shares outstanding – diluted		48,742,883			48,068,438			48,658,290		48,352,145

Consolidated Statements of Comprehensive Income	UMB Financial Corporation
(unaudited, dollars in thousands)
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2021			2020			2021			2020
Net income	$	94,467		$	73,092		$	274,522		$	130,182
Other comprehensive (loss) income, before tax:
Unrealized gains and losses on debt securities:
Change in unrealized holding gains and losses, net		(75,717	)		20,975			(198,420	)		269,976
Less: Reclassification adjustment for gains included in net income		(1,058	)		(311	)		(5,078	)		(5,544	)
Change in unrealized gains and losses on debt securities		(76,775	)		20,664			(203,498	)		264,432
Unrealized gains and losses on derivative hedges:
Change in unrealized gains and losses on derivative hedges, net		432			(122	)		3,513			19,015
Less: Reclassification adjustment for gains included in net income		(831	)		(1,123	)		(2,550	)		(869	)
Change in unrealized gains and losses on derivative hedges		(399	)		(1,245	)		963			18,146
Other comprehensive (loss) income, before tax		(77,174	)		19,419			(202,535	)		282,578
Income tax benefit (expense)		18,374			(4,578	)		48,502			(66,655	)
Other comprehensive (loss) income		(58,800	)		14,841			(154,033	)		215,923
Comprehensive income	$	35,667		$	87,933		$	120,489		$	346,105

Consolidated Statements of Shareholders' Equity			UMB Financial Corporation
(unaudited, dollars in thousands except per share data)
	Common Stock		Capital Surplus			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock			Total
Balance - January 1, 2020	$	55,057	$	1,073,764		$	1,672,438		$	83,180		$	(277,999	)	$	2,606,440
Total comprehensive income		—		—			130,182			215,923			—			346,105
Dividends ($0.93 per share)		—		—			(45,192	)		—			—			(45,192	)
Purchase of treasury stock		—		615			—			—			(60,180	)		(59,565	)
Forfeitures of equity awards, net of issuances		—		565			—			—			43			608
Recognition of equity-based compensation		—		9,834			—			—			—			9,834
Sale of treasury stock		—		158			—			—			311			469
Exercise of stock options		—		439			—			—			2,081			2,520
Cumulative effect adjustment		—		—			(7,039	)		—			—			(7,039	)
Balance - September 30, 2020	$	55,057	$	1,085,375		$	1,750,389		$	299,103		$	(335,744	)	$	2,854,180

Balance - January 1, 2021	$	55,057	$	1,090,450		$	1,891,246		$	318,340		$	(338,145	)	$	3,016,948
Total comprehensive income (loss)		—		—			274,522			(154,033	)		—			120,489
Dividends ($1.01 per share)		—		—			(49,200	)		—			—			(49,200	)
Purchase of treasury stock		—		—			—			—			(4,269	)		(4,269	)
Issuances of equity awards, net of forfeitures		—		(4,374	)		—			—			5,069			695
Recognition of equity-based compensation		—		13,401			—			—			—			13,401
Sale of treasury stock		—		223			—			—			214			437
Exercise of stock options		—		3,118			—			—			11,221			14,339
Balance - September 30, 2021	$	55,057	$	1,102,818		$	2,116,568		$	164,307		$	(325,910	)	$	3,112,840

Average Balances / Yields and Rates	UMB Financial Corporation
(tax - equivalent basis)
(unaudited, dollars in thousands)
	Three Months Ended September 30,
	2021						2020
	Average			Average			Average			Average
	Balance			Yield/Rate			Balance			Yield/Rate
Assets
Loans, net of unearned interest	$	16,756,753			3.77	%	$	15,731,716			3.60	%
Securities:
Taxable		7,662,106			1.72			5,478,397			1.92
Tax-exempt		4,240,408			2.90			4,336,539			2.95
Total securities		11,902,514			2.14			9,814,936			2.37
Federal funds and resell agreements		1,092,266			0.87			1,177,590			0.76
Interest bearing due from banks		4,345,422			0.16			1,087,838			0.11
Trading securities		25,392			4.30			32,894			3.54
Total earning assets		34,122,347			2.65			27,844,974			2.91
Allowance for credit losses		(203,144	)					(211,221	)
Other assets		1,953,337						1,846,919
Total assets	$	35,872,540					$	29,480,672

Liabilities and Shareholders' Equity
Interest-bearing deposits	$	18,027,862			0.15	%	$	15,867,017			0.23	%
Federal funds and repurchase agreements		2,596,326			0.24			1,964,161			0.35
Borrowed funds		270,795			4.72			115,943			5.56
Total interest-bearing liabilities		20,894,983			0.22			17,947,121			0.28
Noninterest-bearing demand deposits		11,400,143						8,260,170
Other liabilities		425,385						431,528
Shareholders' equity		3,152,029						2,841,853
Total liabilities and shareholders' equity	$	35,872,540					$	29,480,672
Net interest spread					2.43	%					2.63	%
Net interest margin					2.52						2.73

Average Balances / Yields and Rates	UMB Financial Corporation
(tax - equivalent basis)
(unaudited, dollars in thousands)
	Nine Months Ended September 30,
	2021						2020
	Average			Average			Average			Average
	Balance			Yield/Rate			Balance			Yield/Rate
Assets
Loans, net of unearned interest	$	16,608,711			3.74	%	$	14,818,893			3.91	%
Securities:
Taxable		7,022,914			1.72			5,082,153			2.09
Tax-exempt		4,276,813			2.93			4,169,829			3.02
Total securities		11,299,727			2.18			9,251,982			2.51
Federal funds and resell agreements		1,280,177			0.81			1,070,071			1.16
Interest bearing due from banks		3,506,727			0.12			1,140,965			0.39
Trading securities		21,475			4.28			39,580			4.55
Total earning assets		32,716,817			2.70			26,321,491			3.15
Allowance for credit losses		(207,338	)					(173,254	)
Other assets		1,892,516						1,742,652
Total assets	$	34,401,995					$	27,890,889

Liabilities and Shareholders' Equity
Interest-bearing deposits	$	17,397,225			0.15	%	$	15,107,688			0.44	%
Federal funds and repurchase agreements		2,620,354			0.27			2,043,942			0.66
Borrowed funds		270,230			4.76			90,849			6.36
Total interest-bearing liabilities		20,287,809			0.23			17,242,479			0.50
Noninterest-bearing demand deposits		10,624,524						7,475,746
Other liabilities		418,397						411,547
Shareholders' equity		3,071,265						2,761,117
Total liabilities and shareholders' equity	$	34,401,995					$	27,890,889
Net interest spread					2.47	%					2.65	%
Net interest margin					2.55						2.82

Business Segment Information	UMB Financial Corporation
(unaudited, dollars in thousands)
	Three Months Ended September 30, 2021
	Commercial Banking			Institutional Banking		Personal Banking			Total
Net interest income	$	143,935		$	21,203	$	44,627		$	209,765
Provision for credit losses		(5,720	)		172		548			(5,000	)
Noninterest income		16,523			65,551		25,833			107,907
Noninterest expense		74,359			73,354		61,156			208,869
Income before taxes		91,819			13,228		8,756			113,803
Income tax expense		15,601			2,248		1,487			19,336
Net income	$	76,218		$	10,980	$	7,269		$	94,467

	Three Months Ended September 30, 2020
	Commercial Banking			Institutional Banking		Personal Banking			Total
Net interest income	$	122,362		$	23,375	$	38,647		$	184,384
Provision for credit losses		14,032			193		1,775			16,000
Noninterest income		22,464			62,688		27,844			112,996
Noninterest expense		65,175			69,667		63,153			197,995
Income before taxes		65,619			16,203		1,563			83,385
Income tax expense		8,100			2,000		193			10,293
Net income	$	57,519		$	14,203	$	1,370		$	73,092

	Nine Months Ended September 30, 2021
	Commercial Banking			Institutional Banking		Personal Banking			Total
Net interest income	$	412,622		$	64,599	$	127,730		$	604,951
Provision for credit losses		8,107			539		2,854			11,500
Noninterest income		60,294			202,718		85,381			348,393
Noninterest expense		209,144			217,211		184,798			611,153
Income before taxes		255,665			49,567		25,459			330,691
Income tax expense		43,427			8,419		4,323			56,169
Net income	$	212,238		$	41,148	$	21,136		$	274,522

	Nine Months Ended September 30, 2020
	Commercial Banking			Institutional Banking		Personal Banking			Total
Net interest income	$	342,406		$	84,534	$	109,614		$	536,554
Provision for credit losses		115,533			766		9,201			125,500
Noninterest income		57,782			191,128		82,966			331,876
Noninterest expense		186,341			215,073		193,733			595,147
Income (loss) before taxes		98,314			59,823		(10,354	)		147,783
Income tax expense (benefit)		11,709			7,125		(1,233	)		17,601
Net income (loss)	$	86,605		$	52,698	$	(9,121	)	$	130,182

The company has strategically aligned its operations into the following three reportable segments: Commercial Banking, Institutional Banking, and Personal Banking. Senior executive officers regularly evaluate business segment financial results produced by the company’s internal reporting system in deciding how to allocate resources and assess performance for individual business segments. The company’s reportable segments include certain corporate overhead, technology and service costs that are allocated based on methodologies that are applied consistently between periods. For comparability purposes, amounts in all periods are based on methodologies in effect at September 30, 2021.

Non-GAAP Financial Measures

Net operating income Non-GAAP reconciliations:	UMB Financial Corporation
(unaudited, dollars in thousands except per share data)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Net income (GAAP)	$	94,467		$	73,092		$	274,522		$	130,182
Adjustments:
Acquisition expense		—			78			—			324
Severance expense		639			2,859			763			4,648
COVID-19 related expense		190			1,358			527			5,575
Tax-impact of adjustments (i)		(184	)		(953	)		(286	)		(2,341	)
Total Non-GAAP adjustments (net of tax)		645			3,342			1,004			8,206
Net operating income (Non-GAAP)	$	95,112		$	76,434		$	275,526		$	138,388

Earnings per share - diluted (GAAP)	$	1.94		$	1.52		$	5.64		$	2.69
Acquisition expense		—			—			—			0.01
Severance expense		0.01			0.06			0.02			0.10
COVID-19 related expense		—			0.03			0.01			0.11
Tax-impact of adjustments (i)		—			(0.02	)		(0.01	)		(0.05	)
Operating earnings per share - diluted (Non-GAAP)	$	1.95		$	1.59		$	5.66		$	2.86

GAAP
Return on average assets		1.04	%		0.99	%		1.07	%		0.62	%
Return on average equity		11.89			10.23			11.95			6.30

Non-GAAP
Operating return on average assets		1.05	%		1.03	%		1.07	%		0.66	%
Operating return on average equity		11.97			10.70			11.99			6.69

(i) Calculated using the company’s marginal tax rate of 22.2%.

Operating noninterest expense and operating efficiency ratio Non-GAAP reconciliations:	UMB Financial Corporation
(unaudited, dollars in thousands)
	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Noninterest expense	$	208,869		$	197,995		$	611,153		$	595,147
Adjustments to arrive at operating noninterest expense (pre-tax):
Acquisition expense		—			78			—			324
Severance expense		639			2,859			763			4,648
COVID-19 related expense		190			1,358			527			5,575
Total Non-GAAP adjustments (pre-tax)		829			4,295			1,290			10,547
Operating noninterest expense (Non-GAAP)	$	208,040		$	193,700		$	609,863		$	584,600

Noninterest expense	$	208,869		$	197,995		$	611,153		$	595,147
Less: Amortization of other intangibles		1,110			1,524			3,647			4,916
Noninterest expense, net of amortization of other intangibles (Non-GAAP) (numerator A)	$	207,759		$	196,471		$	607,506		$	590,231

Operating noninterest expense	$	208,040		$	193,700		$	609,863		$	584,600
Less: Amortization of other intangibles		1,110			1,524			3,647			4,916
Operating expense, net of amortization of other intangibles (Non-GAAP) (numerator B)	$	206,930		$	192,176		$	606,216		$	579,684

Net interest income	$	209,765		$	184,384		$	604,951		$	536,554
Noninterest income		107,907			112,996			348,393			331,876
Less: Gains on sales of securities available for sale, net		1,058			311			5,078			5,544
Total Non-GAAP Revenue (denominator A)	$	316,614		$	297,069		$	948,266		$	862,886

Efficiency ratio (numerator A/denominator A)		65.62	%		66.14	%		64.06	%		68.40	%
Operating efficiency ratio (Non-GAAP) (numerator B/denominator A)		65.36			64.69			63.93			67.18

Pre-tax, pre-provision income non-GAAP reconciliations:	UMB Financial Corporation
(unaudited, dollars in thousands except per share data)
	Three Months Ended September 30,					Nine Months Ended September 30,
	2021			2020		2021		2020
Net income before taxes (GAAP)	$	113,803		$	83,385	$	330,691	$	147,783
Adjustments:
Provision for credit losses		(5,000	)		16,000		11,500		125,500
Pre-tax, pre-provision income (Non-GAAP)	$	108,803		$	99,385	$	342,191	$	273,283

Pre-tax earnings per share - diluted (GAAP)	$	2.33		$	1.74	$	6.79	$	3.06
Provision for credit losses		(0.10	)		0.33		0.24		2.59
Pre-tax, pre-provision earnings per share - diluted (Non-GAAP)	$	2.23		$	2.07	$	7.03	$	5.65

Pre-tax, pre-provision income - FTE Non-GAAP reconciliations:	UMB Financial Corporation
(unaudited, dollars in thousands except per share data)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net interest income	$	209,765	$	184,384	$	604,951	$	536,554
Adjustments to arrive at net interest income - FTE:
Tax equivalent interest		6,544		6,797		19,851		19,879
Net interest income - FTE	$	216,309	$	191,181	$	624,802	$	556,433
Noninterest income		107,907		112,996		348,393		331,876
Less: Noninterest expense		208,869		197,995		611,153		595,147
Pre-tax, pre-provision income - FTE (Non-GAAP)	$	115,347	$	106,182	$	362,042	$	293,162

Net interest income earnings per share - diluted	$	4.30	$	3.84	$	12.43	$	11.10
Tax equivalent interest		0.14		0.14		0.41		0.41
Net interest income - FTE		4.44		3.98		12.84		11.51
Noninterest income		2.22		2.35		7.16		6.86
Less: Noninterest expense		4.29		4.12		12.56		12.31
Pre-tax, pre-provision income - FTE earnings per share - diluted (Non-GAAP)	$	2.37	$	2.21	$	7.44	$	6.06

Tangible book value non-GAAP reconciliations:	UMB Financial Corporation
(unaudited, dollars in thousands except share and per share data)
	As of September 30,
	2021		2020
Total shareholders' equity (GAAP)	$	3,112,840	$	2,854,180
Less: Intangible assets
Goodwill		174,518		180,867
Other intangibles, net		15,526		22,657
Total intangibles, net		190,044		203,524
Total tangible shareholders' equity (Non-GAAP)	$	2,922,796	$	2,650,656

Total shares outstanding		48,355,373		48,028,679

Ratio of total shareholders' equity (book value) per share	$	64.37	$	59.43
Ratio of total tangible shareholders' equity (tangible book value) per share (Non-GAAP)		60.44		55.19

3rd Quarter 2021 Update UMB Financial Corporation October 26, 2021 Exhibit 99.2

Presentation Index 2 Corporate Overview Opportunity – Our Investment Thesis 3rd Quarter 2021 Results Line of Business Updates Appendix 3 8 17 31 41 Board of Directors Forward-Looking Statements Non-GAAP Reconciliations Please refer to the Forward-Looking Statements on slide 43 for important disclosures about information contained in this presentation. Peer Group

Corporate Overview 3 Highlights Asset-based lending Accounts receivable financing Healthcare Services 91 banking centers 231 ATMs UMB Bank Presence Twin Cities - MN Salt Lake City - UT UMB Financial Corporation Headquarters Expansion Markets International Presence UMBF Trust & Agency Services – Dublin, Ireland Corporate Trust Capital Markets (4) Fund Services Private Wealth Management / Personal Trust At, or for the 3 months ended, 09/30/21. (1) Includes $318mm in PPP balances; (2) Includes $12.0B in managed assets and $4.1B in Assets Under Administration for Private Wealth customers; (3) Includes assets in Fund Services, Corporate Trust and Healthcare Services; (4) UMB Bank, n.a. Capital Markets Division.

Beyond Financials – Our Culture 4 A company built to withstand the test of time. Customers First We do the unparalleled to create an environment that consistently exceeds the expectations of our customers. Integrity & Trust We demonstrate our uncompromising honesty and integrity to earn the trust of everyone we serve. Performance & Strength We achieve sustainable greatness by delivering on our promise, remaining independent and maintaining financial soundness. Associate Spirit We rely upon our people and their collective attitude and skills to differentiate us from our competitors. Inclusion & Diversity We believe an inclusive and diverse culture energizes the workplace and ignites innovation. Our Values Our Goal Our Vision

5 Beyond Financials – Our Culture 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.

Beyond Financials – Our Commitment to Corporate Citizenship Read our 2020 Corporate Citizenship Report at UMB.com/CorporateCitizenship 6 Effective governance programs help achieve business goals and drive value. 12-person board of directors, with 10 independent members 33% board diversity Deliberate selection criteria which includes diversity standards in the board nomination process Robust risk oversight with distinct risk management committees: enterprise risk, asset and liability, and credit Closely analyzed and competitive compensation practices Strong Corporate Governance UMB recognizes the undeniable importance of sustainable business practices. Efficient & Sensible Resource Use Associate volunteerism and corporate philanthropy help build strong community partnerships. 1,000+ participants in our workplace giving campaign supporting qualified nonprofits UMB’s Matching Gift Program utilization increased 380% from 2019 to 2020 $2.6mm+ in donations and sponsorships in 2020 UMB Market went virtual, with videos and worksheets to help children learn about healthy shopping on a budget Community Impact We want our company to be as diverse as the world we live in. Eight Business Resource Groups (BRGs) help us understand the needs of our associates, customers and communities Our BRGs provide opportunities to listen, learn and turn empathy into action Unconscious bias training is embedded throughout manager development offerings In 2020, 29% of all UMB hires were people of color, 47% were women and 8% were veterans Diversity among leadership team – 8 of 16 members Inclusion & Diversity Six of our branch locations are LEED certified Our Arizona locations retrofitted with xeriscape and water-conserving irrigation systems More than 161,000 kilowatt hours generated from solar panels Efficient lighting programs saved more than 189,000 kilowatt hours Recycled 13,350 pounds of comingled materials and 308 pounds of batteries Adapting to new technology with rooftop gardens, geothermal energy and charging stations for electric cars

Business Model – Our Diverse Foundation Commercial & Personal Banking Services Revenue: FY’20 $929 million; YTD’21 $686 million / Average deposits: $19.4 billion 7 Institutional Banking Services Revenue: FY’20 $362 million; YTD’21 $267 million / Average deposits: $10.0 billion Institutional Banking provides solutions for the entire marketplace; $436.6 billion in AUA. Corporate Trust Bond trustee, paying agent & escrow services Institutional Custody Domestic & international custody services Fund Services Fund accounting, fund administration & transfer agency Specialty Trust & Agency Solutions Default workout & successor trustee services Aviation, ABS & loan agency services Capital Markets Division (3) Fixed income sales & trading Public finance Investor Solutions Banking, cash management & specialty services for financial firms Healthcare Services Health savings accounts Healthcare payment solutions Balances at or for quarter ended 09/30/21. (1) Excludes $517mm in avg. PPP balances and $400mm in avg. credit card balances; (2) Includes consumer loans plus residential real estate loans to retail and private banking clients; (3) Products and services offered through UMB Bank Capital Markets Division; NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED.

Our Investment Thesis

Investment Thesis – Our Opportunity 9 Track record of relative outperformance in loan growth – opportunities remain Underpenetrated across our geographic footprint, focused on market share gains Underpenetrated vertically on an asset class basis, built out specialized teams Runway for Growth Attractive deposit base Stable, diverse and low-cost funding sources Net interest income growth outpacing the industry Above peer earning asset growth Focus on returning value to shareholders Risk-adjusted returns EPS and tangible book value growth outpace peers Consistent dividend growth Differentiated revenue profile and growing fee income Revenue from diverse lines of business and verticals provide a natural hedge against lower rate environments Solid capital and liquidity positions support growth objectives Higher common equity levels Attractive loan-to-deposit ratio Time-tested underwriting philosophy Unwavering credit standards Long-tenured credit team – average of 22 years with UMB Chief Credit Officer – 35 years with UMB

Balance Sheet Growth – Across All Business Cycles 10 Average Loans Average Deposits Average annual balances in billions. 1.69% 0.40% 1.01% 0.25% Annual Loan Growth Annual Deposit Growth 13% 14% 9% 7% 5% 2% 6% 10% 10% 18% 12% 21% 19% 9% 7% 10% 3% 7% 4% 14% 16% 11% 14% 10% 20% 13% 6% 11% 9% 4% 7% 14% 15 Year CAGR 11.1% 15 Year CAGR 10.6% (1) (1) Excludes PPP balances for 2020; (2) UMB traditional peer group (15 banks); Source: S&P Global. Peer group defined on slide 48.

Differentiated Revenue Profile – Multiple Sources of Growth 11 Net Interest Income Fee Income Provides Diversity 15 Year CAGR 9.5% Dollars in millions. 30% 28% 57% 43% $440.2 $1,291.4 $472.2 $613.2 $521.5 $731.3 $587.8 $778.2 $671.0 $825.1 $878.5 $982.5 $848.7 $1,012.1 $971.4 $1,097.7 Total Revenue 15 Year CAGR 7.4% Revenue Growth Peer Med. 15 Year CAGR 6.2% Peer Med. 15 Year CAGR 6.9% Annual NII Growth Annual Revenue Growth 5% 15% 7% 18% 10% 3% 2% 1% 9% 4% 5% 18% 20% 13% 9% 10% 8% 7% 10% 13% 4% 9% 9% 6% 18% 6% 3% 4% 11% 1% 3% 8% (1) Fee income prior to 2017 contains income from discontinued operations; (2) Source: S&P Global.

Capital & Liquidity – Supports Growth Outlook 12 Cash & Securities / Assets Loans / Deposits Tier 1 Capital Ratio Tangible Common Equity / Assets (4) (3) (2) (1) Source: S&P Global; (2) Non-GAAP measure. See reconciliation on slide 47; (3) As defined by S&P Global; “Cash, cash equiv. & investment securities/assets;” (4) EOP balances.

History of Strong, Resilient Credit – Through All Economic Environments 13 Net Charge-Offs / Average Loans Nonperforming Loans / Loans 0.49% 0.25% 0.16% 0.74% 0.36% 0.16% 1.18% 0.79% 0.55% 0.50% 0.22% 0.13% 15 Year Average 0.30% 15 Year Average 0.43% (1) UMB’s traditional peer group (15 banks), source: S&P Global; (2) All FDIC-insured institutions, source: FDIC Annual Statistics.

Risk-Adjusted Returns – Rowing Close to Shore 14 Risk-Weighted Assets / Assets Return on Risk-Weighted Assets (1) Source: S&P Global.

Outperformance – Building Long-Term Value 15 15-Year Compounded Annual Growth Rates 2005 – 2020 *KBW Nasdaq Regional Bank Index (50 banks); **UMB’s traditional peer group (15 banks); ***All publicly-traded banks with data reported for both 2005 and 2020. Source: S&P Global. (1) Non-GAAP measure. See reconciliation on slide 46.

Dividend Trends – Sustained Growth 16 (1) Dividends adjusted for 2-for-1 stock split in 2006. Annual Dividends Declared (1) +263.2% 2001 - 2021

3rd Quarter 2021 Financial Review

3Q 2021 Results At-A-Glance 18 Dollars in millions, except per share amounts. (1) Non-GAAP measure. See reconciliations on slides 44 and 45. 3Q ’20 2Q ’21 3Q ’21 Linked-Quarter Commentary

3Q 2021 Earnings Highlights 19 Pre-Tax, Pre-Provision (“PTPP”) Income (1) $102.1 $131.3 $108.8 $99.4 $196.1 Net Income $156.3 $92.6 $87.4 $94.5 $73.1 Dollars in millions, except per share amounts. (1) Non-GAAP measure. See reconciliation on slide 44; (2) Net gains/losses related to mark-to-market valuations and any disposition of shares in our investment in TTCF.

Revenue Trends 20 Dollars in millions. Columns may not sum due to rounding differences. Linked-Qtr. Variance $ ∆ % ∆ 3Q ’20 4Q ’20 1Q ’21 2Q ’21 3Q ‘21 Linked-Qtr. Variance $ ∆ % ∆

Net Interest Income 21 @ 0.10% $4.5B $4.5B $5.4B $2.3B $2.6B @ 0.92% @ 0.87% @ 0.76% @ 0.86% @ 0.70% @ 0.16% @ 0.11% @ 0.11% @ 0.10% Asset Yield and Liability Cost Trends Liquidity Trends Impact NIM $194.1 $209.8 $184.4 $194.7 $199.7 $175.7 $180.8 $180.7 Dollars in millions. $201.1 $188.7

Noninterest Income 22 Current Quarter Highlights Composition / Changes in Inv. Securities Gains (Losses) and Trust & Securities Processing Dollars in millions. (1) Source: S&P Global. Noninterest income decreased $23.7mm, or 18.0%, vs. 2Q’21, driven by: A $19mm decrease in investment securities gains, primarily related to a $3.5mm unrealized mark-to-market loss in our investment in TTCF, compared to a gain of $7.2mm in 2Q’21; A reduction of $2.7mm in trading and investment banking due to lower volumes; and A $2.7mm decrease in deposit service charges related to customer transfer and conversion fees in healthcare services in the prior quarter that did not recur. Offsets included: $3.1mm of increased trust and securities processing income, driven largely by fund services; and $1.1mm in improved bankcard fees related to higher interchange income and reduced rebate expense. $108.9 $131.6 $107.9 $113.0 $228.3 LQ Variance

Noninterest Expense 23 Current Quarter Highlights Noninterest expense increased $7.5mm, or 3.7%, vs. 2Q’21 driven by: An increase of $4.6mm in salaries and employee benefits, due primarily to accruals for performance-related incentives; An increase of $2.7mm in operational losses, recorded in other expense; and $600k of increased charitable contributions. Dollars in millions. Columns may not sum due to rounding differences.

$16,757 $16,240 $14,233 $14,625 $15,732 $16,041 $16,246 Diversified Loan Portfolio 24 Average balances in millions. Loans by Region Kansas City 35% Colorado 18% Arizona 10% St. Louis 13% Greater MO 6% KS - 3% Texas 10% NE - 2% OK - 2% MN - 1% $14,933 $16,818 $15,642

Quarterly Loan Activity 25 (1) Payoffs and paydowns include C&I and CRE loans. (1) (1)

Pandemic-Sensitive Industries 26 2.6% 97.4% All Other Loans $15.7B (1) Hotel CRE Majority of the hotel portfolio is flagged by national hotel brands Limited service and extended stay properties comprise half of hotel portfolio 67% to top sponsors; weighted average LTV 54% Closely watching occupancy and ADR trends as we head into the fall and winter seasons, as well as the impact of the labor shortage on the hospitality industry Senior Living CRE Defined as independent, assisted living and memory care facilities 25% to top sponsors; weighted average LTV 65% Properties that were not stabilized pre-pandemic are now leasing; absorption rate varies by location and type (1) PPP loans are excluded from the denominator when calculating percentages of total loans.

Strong Asset Quality 27 Net Loan Charge-Offs Delinquencies Nonperforming Loans Allowance for Credit Losses Dollars in millions. (1) Delinquencies represent accruing loans > 30 days past due; (2) Total loans include PPP balances.

28 Detailed Net Charge-Off History (1) Loan categories were updated in Q1 2020 with the adoption of ASU 2016-13. In prior periods, NCOs for “Commercial” included C&I, commercial card, ABL and factoring loans. NCOs for “Other” included consumer cards, all real-estate loans, consumer loans and DDA.

$10,699 $11,284 $11,903 $9,815 $10,171 $8,573 $8,858 $9,368 $9,924 $10,567 Available-for-sale Portfolio High-Quality Investment Portfolio 29 Average balances in millions. (1) Includes purchases made for roll-off and overbuy; net of purchases related to sales/trades. Securities Portfolio Statistics & Activity

Diversified Deposit Mix 30 $26,826 $29,428 $24,127 $24,965 Deposits by Line of Business Commercial Personal Institutional Commercial Banking 42% Consumer & Private Wealth 24% Capital Mkts. & Corp. Trust 12% Healthcare Services 8% Fund Services 5% Investor Solutions 9% 34% 36% 36% 39% 39% Average balances in millions. $27,783

Line of Business Updates

Commercial Banking – C&I Lending 32 Commercial & Industrial Statistics (1) C&I Industry Diversification (2) Average loan size: $4.5 million Considerations Internal limits on loan size and projects per sponsor Concentration guidelines for all lending verticals, monitored for changing conditions C&I Balance Trends Transp. / Warehouse Diversified Technology Materials & Commodities Manufacturing Food/Beverage Manufacturing Healthcare Commercial Services Other (4) Agribusiness RE & Construction Finance & Insurance Energy-Related $6.7B 41.7% of total UMB loans Commercial Line Utilization Trends +17% YoY Dollars in billions at period end. (1) Includes commercial & industrial and leases, excludes PPP loans; (2) Industries as a percentage of C&I portfolio; (3) Excluding PPP loans. (3)

Commercial Banking – Commercial Real Estate 33 Commercial Real Estate Statistics Investment CRE / Construction Portfolio (1) Total Investment CRE Portfolio Average Loan-to-Value: 62% Recourse: 82% Const. / Land Dev. 12% Owner-Occupied 30% Investment CRE 49% $6.2B Farmland 8% as of Sept. 30, 2021 1-4 Unit Residential Construction = 1% of total (2) Retail Multifamily Office Building Hotel Industrial Sr. Living Mixed Use Student Housing Other (4) Owner-occupied – new purchase or refinance Real estate development – construction / perm financing, bridge financing, renovations Investment CRE – 3 to 10-year term loans for property investors Resi. Rental $3.8B 24.5% of total UMB loans (1) Industries as a percentage of investment CRE and construction portfolio; (2) Excluding PPP loans; (3) Calculated using Tier 1 capital plus an adjusted ACL, per regulatory guidelines. Regulatory Concentrations Total non-farmland CRE / Total RBC: 152% Construction & Development Loans / Total RBC: 29% (3)

Commercial Banking – Capital Finance 34 SBIC fund - UMB Capital Corporation is a small business investment company that provides financing solutions via loans, equity and debt securities Swaps and derivatives - UMB Capital Finance will build customized instruments to help manage interest rate risk and optimize balance sheets Syndicated finance – Expertise in complex funding arrangements Serving small to lower middle-market companies with revenues ~ $2mm to $150mm. Working capital facilities typically between $500k to $10mm. Financing that facilitates cash flow when traditional lending may not be available for highly-leveraged borrowers or those with a concentrated customer mix. Serving middle-market companies with revenues ~$15mm to $300mm. Working capital facilities typically $10mm to $50mm via lines of credit secured by accounts receivable and inventory, and term loans supported by equipment, real estate and cash-flow. Deeply experienced in financing acquisitions, recapitalizations and aggressive growth strategies Asset-based Lending Factoring / Accounts Receivable Financing Mezzanine Debt & Minority Equity Investments Examples of recent investments: Average balances in millions.

Personal Banking – Consumer 35 Metrics at or for the quarter ended 09/30/21. (1) Includes residential real estate and other consumer loans for retail and private banking customers. $ millions +37% YoY Mobile Deposits 18% Digital Sales 25% 13% of non-mortgage loan applications of new retail deposit accounts vs. 16% 3Q’20 $44mm $16.2mm vs. $34mm 3Q’20 Expanding Digital Capabilities of consumer deposits via mobile app Mobile App Rating Apple Store 4.1 stars Google Store 4.5 stars +31%

Personal Banking – Private Wealth Management 36 Personal Trust 29% Investment Advisory 22% Non-Managed AUA 26% IRAs 6% Brokerage 4% Other 4% Charitable9% Customer Assets Managed Assets (AUM): $12.0B Non-Managed Assets (AUA): $4.1B $639mm $694mm FY’19 FY’20 New Assets / Sales (1) Composition as of 09/30/21. (1) Includes AUM and AUA; (2) American Customer Satisfaction Index “Score.” Source: Market Strategies International; (3) Source: 2020 Forrester Net Promoter Benchmarks Study

Institutional Banking – Fund Services & Institutional Custody 37 Assets Under Administration +32% YoY Best Interval Fund Administrator (1) Best Administrator – Technology (2) Fund Services – Registered Funds & Alternative Investments Institutional Custody $345B $405B $306B $336B Provides services for 1,700 funds, including registered and alternative investment funds, PE funds, real estate and venture capital funds and ETFs and more. One of the nation's leading providers of domestic and global custody, serving insurance companies, public & private corporations, nonprofits, municipalities, fund companies and endowments. Top 10 Mutual Fund Custodian (3) TOP 10 Best Custodian – 2021 (4) $379B (1) Fund Intelligence ‘19-’20 Awards; (2) Hedgeweek U.S. Awards ‘20 & Private Equity Wire U.S. Awards ’20; (3) Private Equity Wire U.S. Awards ’19; (4) HFM US Services Awards ‘21.

Institutional Banking – Corp/Specialty Trust & Capital Markets Corporate Trust & Escrow Services Provides trustee, paying agent and escrow services to municipal and corporate issuers. $31B Assets Under Administration Municipal Trustee & Paying Agent in U.S. (1) #3 Specialty Trust & Agency Solutions Services for asset-backed securitizations, aviation and other transportation and real estate projects. Workout and successor trustee services on behalf of bondholders of defaulted transactions. Irish Office +58% 490 New Deals Closed YTD vs. 311 YTD 2020 +148% +55% New Business $ Volume on 2,082 Deals Building presence in top aviation leasing market Growth in New Business $ Volume YTD 38 Examples of recent deals: Capital Markets Division Capital solutions including fixed income sales, trading and underwriting for institutional, municipal and not-for-profit organizations. $92,125,000 Unlimited Tax Refunding Bonds, Taxable Series ‘21 Senior Manager $11,245,000 Public Facilities Corp. Lease Revenue Bonds, Series ‘21 Sole Manager $268,380,000 Unlimited Tax School Building Bonds, Series ‘21 Co-Manager $225,770,000 Unlimited Tax School Building and Refunding Bonds, Series ‘21 Co-Manager Northside Independent School District (TX) San Antonio Independent School District (TX) Pflugerville Independent School District (TX) Products and services offered through UMB Bank Capital Markets Division NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED. #1 Agent for Debtor-in-Possession financing (2) #7 Aviation & Asset-Based Securitization Trustee (3) TOP 10 Public Finance (1) Ranked by number of issues -Thomson Reuters municipal rankings, June 2021; (2) Debtwire - ranking for 1H’21; (3) Green Street Advisors’ Asset-Based Alert - 1H’21. All comparisons are YTD 2021 vs. YTD 2020.

FDIC Sweep Assets Under Administration $68B Institutional Banking – Investor Solutions & Healthcare Services 39 Investor Solutions Provides large-scale banking services and payment solutions for non-bank financial institutions and fintech companies. Annual ACH Transactions Healthcare Services Provides healthcare payment solutions including health savings accounts (HSAs), healthcare spending accounts and payments technology. HSA Account Holders 1.3mm In HSA Assets & Deposits $3.2B Top 10 HSA Custodians in the U.S. (4) TOP 10 30% of Top Independent Broker-Dealers are UMB Clients (2) 60% of Top Clearing Firms are UMB Clients (1) Benefit Cards 5mm >50mm > 6mm accounts Recognized for Investment Quality (3) Fintech Partnerships (1) InvestmentNews 2019; (2) Financial Planning June 2020; (3) Investor’s Business Daily 2021; (4) Ranked #6 by number of accounts - Devenir Research Mid-Year 2021.

Payments – Credit & Debit Card Products 40 $3,550 $3,789 $3,122 $3,315 Card Purchase Volume & Interchange Trends 3Q ‘21 Card Spend $3.8B 23rd In U.S. Credit Card Purchase Volume (1) #23 $3,658 $ millions (1) Rank in commercial, consumer and small business cards among top 50 U.S. issuers. Source: Nilson Report, December 2020.

Appendix

Leadership – Our Board of Directors 42 AC = Audit Committee; CC = Compensation Committee; GC = Governance Committee RC = Risk Committee Advisory Directors

Forward-Looking Statements 43 This presentation contains, and our other communications may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “outlook,” “forecast,” “target,” “trend,” “plan,” “goal,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, results, or aspirations. All forward-looking statements are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Our actual future objectives, strategies, plans, prospects, performance, condition, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events, circumstances, or aspirations to differ from those in forward-looking statements are described in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (SEC). In addition to such factors that have been disclosed previously, the COVID-19 pandemic (the “pandemic”) may also cause actual results or other future events, circumstances, or aspirations to differ from our forward-looking statements. The pandemic has created a global public-health crisis that has resulted in widespread volatility and deteriorations in household, business, economic, and market conditions. It is currently adversely affecting the company and its customers, counterparties, employees, and third-party service providers, and the continued adverse impacts on our business, financial position, results of operations, and prospects could be significant. We are not able to accurately predict the extent of the impact of the pandemic on our capital, liquidity, and other financial positions and on our business, results of operations, and prospects at this time, and we believe it will depend on a number of evolving factors, including: (i) the duration, extent and severity of the pandemic; (ii) the response of governmental and non-governmental authorities to the pandemic, which is rapidly changing and not always coordinated or consistent across jurisdictions; (iii) the effect of the pandemic on our customers, counterparties, employees and third-party service providers, which may vary widely, and which is generally expected to increase our credit, operational, and other risks and (iv) the effect of the pandemic on economies and markets, which in turn could adversely affect, among other things, the origination of new loans and the performance of our existing loans. The pandemic is also expected to have a significant impact on our current expected credit loss (CECL) calculation and related provision under a new accounting standard that we were required to adopt in January 2020. The CECL calculation includes periodic estimates of the net amount expected to be collected over the contractual term of certain financial assets, and requires us to take into account, among other things, economic conditions forecasted over the life of the financial asset, including the current and anticipated effects of the pandemic. Any forward-looking statement should be evaluated in light of these considerations. Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except to the extent required by applicable securities laws. You, however, should consult disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K, or other applicable document that is filed or furnished with the SEC.

Non-GAAP Reconciliations 44 The following are non-GAAP measures used by the company from time to time. To the extent a non-GAAP measure is used during this presentation, a reconciliation to such measure’s closest GAAP equivalent is provided below. The Company believes that these non-GAAP financial measures and the reconciliations may be useful to investors because they adjust for items that management does not believe reflect the Company’s fundamental operating performance. Pre-tax pre-provision income for the relevant period is defined as GAAP net income, adjusted to reflect the impact of excluding income tax and provision expense. Pre-tax, pre-provision income on a fully tax equivalent basis for the relevant period is defined as GAAP net interest income on a fully tax equivalent basis plus noninterest income, less noninterest expense. Tangible book value per share is defined as the Company’s total shareholders’ equity, net of intangible assets, divided by total shares outstanding. Tangible common equity ratio is calculated as the Company’s total shareholders’ equity, net of intangible assets, divided by total assets, net of intangible assets. Pre-Tax, Pre-Provision Income (unaudited, dollars in thousands except share and per share data)

Non-GAAP Reconciliations 45 Pre-Tax, Pre-Provision Income on a Fully Tax-Equivalent Basis (unaudited, dollars in thousands except share and per share data)

Non-GAAP Reconciliations 46 Tangible Book Value (1) Share count for December 31, 2005, adjusted for Company’s 2-for-1 stock split on May 31, 2006. (unaudited, dollars in thousands except share and per share data)

Non-GAAP Reconciliations 47 Tangible Common Equity Ratio (unaudited, dollars in thousands)

48 Our Peer Group All peer data in this presentation is sourced from S&P Global.