8-K

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):  7/26/2022

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 July 26, 2022, UMB Financial Corporation (the “Company”) issued a press release announcing the financial results for the Company for the quarter and period ended June 30, 2022.  A copy of the press release is attached as Exhibit 99.1 and the information is hereby incorporated by reference herein. The Company does not incorporate by reference information presented at any website referenced in the press release.

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 July 26, 2022, the Company announced in the same press release that the Board of Directors of the Company had declared a quarterly dividend of $0.37 per share that is payable on October 3, 2022 to shareholders of record of the Company as of the close of business on September 12, 2022.

The Company is furnishing a copy of materials that will be used in the Company’s shareholder conference call at 9:30 a.m. (CT) on July 27, 2022.  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 July 26, 2022, 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. The Company does not incorporate by reference to this Current Report on Form 8-K information presented at any website referenced in this report or in any of the Exhibits attached hereto.

Item 9.01    Financial Statements and Exhibits

99.1	Press Release announcing financial results for quarter and period ended June 30, 2022, and announcing dividend declaration.
99.2	Investor Presentation Materials, dated July 26, 2022.
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<br><br><br>Chief Financial Officer

Date: July 26, 2022

umbf-ex991_7.htm

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 Second Quarter Net Income of $137.6 Million

Second Quarter 2022 Financial Highlights

•	GAAP net income of $137.6 million, or $2.83 per diluted share.
•	Operating pre-tax, pre-provision income (Operating PTPP, a non-GAAP financial measure) of $187.1 million, an increase of 56.7% compared to the first quarter of 2022.
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•	Average loan balances increased $1.5 billion, or 8.9% compared to the second quarter of 2021.
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•	Excluding Paycheck Protection Program (PPP) balances, average loans increased 23.3% on a linked-quarter, annualized basis.
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•	Average deposits grew 13.7% compared to the second quarter of 2021.
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•	Net interest margin expanded 25 basis points from the linked quarter.
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•	Noninterest income increased 34.0% as compared to the second quarter of 2021, equal to 44.0% of total revenue.
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KANSAS CITY, Mo. (July 26, 2022) – UMB Financial Corporation (Nasdaq: UMBF), a financial services company, announced net income for the second quarter of 2022 of $137.6 million, or $2.83 per diluted share, compared to $106.0 million, or $2.17 per diluted share, in the first quarter of 2022 (linked quarter) and $87.4 million, or $1.79 per diluted share, in the second quarter of 2021. The results for the second quarter of 2022 include a pre-tax gain of $66.2 million on the sale of the company’s entire investment in Visa Inc. Class B common shares, and a pre-tax $5.0 million contribution to the company’s charitable foundation.

Net operating income, a non-GAAP financial measure reconciled later in this release to net income, the nearest comparable GAAP measure, was $137.6 million, or $2.83 per diluted share, for the second quarter of 2022, compared to $106.1 million, or $2.17 per diluted share, for the linked quarter and $87.6 million, or $1.80 per diluted share, for the second quarter of 2021. Operating PTPP, a non-GAAP measure reconciled later in this release to the components of net income before taxes, the nearest comparable GAAP measure, was $187.1 million, or $3.84 per diluted share, for the second quarter of 2022, compared to $119.4 million, or $2.44 per diluted share, for the linked quarter, and $131.6 million, or $2.71 per diluted share, for the second quarter of 2021. These operating PTPP results represent increases of 56.7% on a linked-quarter basis and 42.1%, compared to the second quarter of 2021, and include the benefit from the aforementioned gain on the sale of the company’s Visa Inc. Class B common shares net of the contribution to the company’s charitable foundation.

“Our strong financial results for the second quarter of 2022 were driven by a 23.3% linked-quarter annualized increase in average loans excluding PPP, strong net interest margin expansion, and continued momentum in our fee income businesses,” said Mariner Kemper, chairman, president and chief executive officer. “Our strong loan growth, coupled with the benefits from higher short and long-term interest rates drove a 6.9% linked-quarter increase in net interest income. Our net charge-offs were elevated this quarter

driven entirely by a $27.7 million write-down related to one commercial relationship. Nonperforming loans declined 83.6% from the prior quarter as the portfolio continues to perform well. During the quarter, we made a $5.0 million contribution to the UMB Financial Corporation Charitable Foundation to continue our support of diverse and impactful philanthropic organizations within the communities we serve.”

Summary of quarterly financial results	UMB Financial Corporation
(unaudited, dollars in thousands, except per share data)
	Q2			Q1			Q2
	2022			2022			2021
Net income (GAAP)	$	137,556		$	105,963		$	87,412
Earnings per share (diluted)		2.83			2.17			1.79
Operating pre-tax, pre-provision income (Non-GAAP)		187,051			119,400			131,607
Operating pre-tax, pre-provision earnings per share (diluted)		3.84			2.44			2.71
Operating pre-tax, pre-provision income - FTE (Non-GAAP)		193,329			125,799			138,236
Operating pre-tax, pre-provision earnings per share - FTE (diluted)		3.97			2.57			2.84
Net operating income (Non-GAAP)		137,596			106,073			87,634
Operating earnings per share (diluted)		2.83			2.17			1.80
GAAP
Return on average assets		1.47	%		1.10	%		1.02	%
Return on average equity		20.83			14.65			11.43
Efficiency ratio		53.08			63.98			60.41
Non-GAAP
Operating return on average assets		1.47	%		1.10	%		1.03	%
Operating return on average equity		20.84			14.67			11.46
Operating efficiency ratio		53.06			63.93			60.33
Summary of year-to-date financial results	UMB Financial Corporation
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(unaudited, dollars in thousands, except per share data)	June			June
	YTD			YTD
	2022			2021
Net income (GAAP)	$	243,519		$	180,055
Earnings per share (diluted)		4.99			3.70
Operating pre-tax, pre-provision income (Non-GAAP)		306,451			233,849
Operating pre-tax, pre-provision earnings per share (diluted)		6.29			4.81
Operating pre-tax, pre-provision income - FTE (Non-GAAP)		319,128			247,156
Operating pre-tax, pre-provision earnings per share - FTE (diluted)		6.55			5.09
Net operating income (Non-GAAP)		243,669			180,414
Operating earnings per share (diluted)		4.99			3.71
GAAP
Return on average assets		1.28	%		1.08	%
Return on average equity		17.60			11.98
Efficiency ratio		58.03			63.29
Non-GAAP
Operating return on average assets		1.28	%		1.08	%
Operating return on average equity		17.61			12.01
Operating efficiency ratio		58.00			63.21
Summary of revenue	UMB Financial Corporation
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(unaudited, dollars in thousands)
	Q2			Q1			Q2			CQ vs.			CQ vs.
	2022			2022			2021			LQ			PY
Net interest income	$	224,791		$	210,355		$	201,071		$	14,436		$	23,720
Noninterest income:
Trust and securities processing		58,886			59,528			53,863			(642	)		5,023
Trading and investment banking		7,123			5,440			8,670			1,683			(1,547	)
Service charges on deposit accounts		20,835			24,642			22,592			(3,807	)		(1,757	)
Insurance fees and commissions		245			259			245			(14	)		—
Brokerage fees		12,391			3,456			2,592			8,935			9,799
Bankcard fees		17,840			16,635			16,063			1,205			1,777
Investment securities gains (losses), net		60,720			(522	)		15,455			61,242			45,265
Other		(1,705	)		14,240			12,109			(15,945	)		(13,814	)
Total noninterest income	$	176,335		$	123,678		$	131,589		$	52,657		$	44,746
Total revenue	$	401,126		$	334,033		$	332,660		$	67,093		$	68,466
Net interest income (FTE)	$	231,069		$	216,754		$	207,700
Net interest margin (FTE)		2.60	%		2.35	%		2.56	%
Total noninterest income as a % of total revenue		44.0			37.0			39.6

Net interest income

•	Net interest income totaled $224.8 million, an increase of $14.4 million, or 6.9% from the linked quarter, driven by an increase of $956.9 million in average loans and the impact from increased short-term and long-term interest rates.
•	Average earning assets decreased $1.8 billion, or 4.7%, largely driven by a decrease of $2.7 billion in interest-bearing due from banks, partially offset by the increase of $956.9 million in average loans noted above. Average interest-bearing liabilities declined $1.5 billion, or 6.8%, primarily driven by a decrease of $1.2 billion in interest-bearing deposits.
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•	Net interest margin for the second quarter was 2.60%, an increase of 25 basis points from the linked quarter, driven by an increase in loan yields of 23 basis points. Earning asset yields increased 39 basis points from the linked quarter, driven by the recent increases in short-term and long-term interest rates, mix changes, and the benefit of free funds. The cost of interest-bearing liabilities increased 26 basis points to 0.47%. Net interest spread increased 13 basis points to 2.39% from the linked quarter but was eight basis points lower than the second quarter of 2021.
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•	On a year-over-year basis, net interest income increased $23.7 million, or 11.8%, driven by a $2.3 billion, or 20.7% increase in average securities, coupled with a $1.5 billion, or 8.9%, increase in average loans. These increases were driven by organic loan growth and excess liquidity.
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•	Average deposits decreased 3.0% on a linked-quarter basis and increased 13.7% compared to the second quarter of 2021. Average noninterest-bearing demand deposit balances increased 1.3% on a linked-quarter basis and 32.8% compared to the second quarter of 2021.
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Noninterest income

•	Second quarter 2022 noninterest income increased $52.7 million on a linked-quarter basis, largely due to:
o	A gain of $66.2 million realized on the sale of the company’s Visa Inc. Class B common shares, partially offset by a decline of $3.7 million in mark-to-market gains on marketable securities, both recorded in investment securities gains, net.
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o	An increase of $8.9 million in brokerage income, largely driven by increases in 12b-1 fees and money market income.
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o	These increases were partially offset by decreases of $10.5 million in company-owned life insurance income and $4.2 million in derivative income, both recorded in other income, and a decrease of $3.8 million in service charges on deposits. The decrease in company-owned life insurance is offset by a proportionate decrease in deferred compensation expense as noted below.  The decrease in service charges on deposits was primarily due to lower healthcare income related to customer transfer and conversion fees.
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•	Compared to the prior year, noninterest income in the second quarter of 2022 increased $44.7 million, or 34.0%, primarily driven by:
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o	An increase of $45.3 million in investment securities gains, primarily due to the $66.2 million gain realized on the sale of the company’s Visa Inc. Class B common shares, partially offset by declines of $14.1 million and $5.5 million in mark-to-market gains on marketable securities and non-marketable securities, respectively.
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o	An increase of $9.8 million in brokerage income, largely driven by increases in 12b-1 fees and money market income.
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o	Increases of $3.7 million and $1.7 million in fund services income and corporate trust income, respectively, both recorded in trust and securities processing.
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o	These increases were partially offset by decreases of $11.6 million in company-owned life insurance income and $2.6 million in derivative income, both recorded in other income, and a decrease of $1.8 million in service charges on deposits. The decrease in company-owned life insurance is offset by a proportionate decrease in deferred compensation expense as noted below. The decrease in service charges on deposits was primarily due to lower healthcare income related to customer transfer and conversion fees.
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Noninterest expense

Summary of noninterest expense	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q2		Q1		Q2		CQ vs.			CQ vs.
	2022		2022		2021		LQ			PY
Salaries and employee benefits	$	121,390	$	130,634	$	120,415	$	(9,244	)	$	975
Occupancy, net		11,976		12,232		12,296		(256	)		(320	)
Equipment		18,315		18,164		19,196		151			(881	)
Supplies and services		3,492		3,262		3,469		230			23
Marketing and business development		5,308		4,932		4,797		376			511
Processing fees		19,338		18,443		16,501		895			2,837
Legal and consulting		11,265		6,911		8,147		4,354			3,118
Bankcard		5,880		6,567		4,529		(687	)		1,351
Amortization of other intangible assets		1,225		1,071		1,157		154			68
Regulatory fees		3,464		3,482		2,769		(18	)		695
Other		12,474		9,080		8,062		3,394			4,412
Total noninterest expense	$	214,127	$	214,778	$	201,338	$	(651	)	$	12,789
•	Noninterest expense for the second quarter of 2022 was $214.1 million, a decrease of $0.7 million, or 0.3%, from the linked quarter and an increase of $12.8 million, or 6.4%, from the second quarter of 2021.
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•	The linked-quarter decrease in noninterest expense was driven by:
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o	A decrease of $16.4 million in employee benefits expense, recorded in salaries and employee benefits, driven primarily by a decrease of $10.7 million in deferred compensation expense and a seasonal decrease of $6.2 million in payroll taxes, insurance, and 401(k) expense recognized in the second quarter. The decrease in deferred compensation expense was offset by the decrease in company-owned life insurance income noted above.
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o	These decreases were offset by an increase of $7.2 million in bonus and salary expense, recorded in salaries and employee benefits, driven by increased company performance, an increase of $4.4 million in legal and consulting expense due to the timing of multiple projects, and an increase of $4.4 million in charitable contributions expense, recorded in other expense.
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•	The year-over-year increase in noninterest expense was driven by:
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o	An increase of $9.8 million in salaries and bonus expense, recorded in salaries and employee benefits, driven by increased company performance.
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o	An increase of $4.4 million in charitable contributions expense, recorded in other expense.
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o	Increases of $3.1 million in legal and consulting expense and $2.8 million in processing fees due to the timing of multiple projects.
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o	An increase of $1.4 million in bankcard expense primarily due to higher processing expense.
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o	These increases were partially offset by a decrease of $8.8 million in employee benefits expense, recorded in salaries and employee benefits, primarily due to a decrease of $10.4 million in deferred compensation expense. The decrease in deferred compensation expense was offset by the decrease in company-owned life insurance income noted above.
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Income taxes

•	The company’s effective tax rate was 18.7% for the six months ended June 30, 2022, compared to 17.0% for the same period in 2021. The increase in the effective rate in 2022 is primarily attributable to a smaller portion of income being earned from tax-exempt municipal securities.

Balance sheet

•	Average total assets for the second quarter of 2022 were $37.6 billion compared to $39.2 billion for the linked quarter and $34.3 billion for the same period in 2021.
Summary of average loans and leases - QTD Average					UMB Financial Corporation
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(unaudited, dollars in thousands)
	Q2		Q1		Q2		CQ vs.		CQ vs.
	2022		2022		2021		LQ		PY
Commercial and industrial	$	7,918,552	$	7,409,623	$	7,402,653	$	508,929	$	515,899
Specialty lending		518,575		463,793		505,687		54,782		12,888
Commercial real estate		6,569,784		6,338,160		6,165,780		231,624		404,004
Consumer real estate		2,458,815		2,339,050		2,068,663		119,765		390,152
Consumer		148,412		135,942		122,439		12,470		25,973
Credit cards		428,167		399,857		386,032		28,310		42,135
Leases and other		275,638		274,652		166,420		986		109,218
Total loans	$	18,317,943	$	17,361,077	$	16,817,674	$	956,866	$	1,500,269
•	Average loans for the second quarter of 2022 increased 5.5% on a linked-quarter basis and 8.9% compared to the second quarter of 2021. Excluding PPP balances, average loans increased 5.8% on a linked-quarter basis and 16.8% as compared to the second quarter of 2021.
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Summary of average securities - QTD Average	UMB Financial Corporation
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(unaudited, dollars in thousands)
	Q2		Q1		Q2		CQ vs.			CQ vs.
	2022		2022		2021		LQ			PY
Securities available for sale:
U.S. Treasury	$	639,161	$	176,476	$	40,013	$	462,685		$	599,148
U.S. Agencies		172,798		125,017		94,794		47,781			78,004
Mortgage-backed		4,764,452		7,317,968		6,096,099		(2,553,516	)		(1,331,647	)
State and political subdivisions		1,891,377		3,170,757		3,565,443		(1,279,380	)		(1,674,066	)
Corporates		377,586		337,526		127,581		40,060			250,005
Collateralized loan obligations		247,639		150,134		—		97,505			247,639
Total securities available for sale	$	8,093,013	$	11,277,878	$	9,923,930	$	(3,184,865	)	$	(1,830,917	)
Securities held to maturity:
U.S. Agencies	$	65,964	$	133	$	—	$	65,831		$	65,964
Mortgage-backed		2,892,986		708,075		—		2,184,911			2,892,986
State and political subdivisions		2,240,018		1,185,609		1,057,091		1,054,409			1,182,927
Total securities held to maturity	$	5,198,968	$	1,893,817	$	1,057,091	$	3,305,151		$	4,141,877
Trading securities		10,190		20,836		21,409		(10,646	)		(11,219	)
Other securities		347,527		329,611		302,981		17,916			44,546
Total securities	$	13,649,698	$	13,522,142	$	11,305,411	$	127,556		$	2,344,287
•	Average total securities increased 0.9% on a linked-quarter basis and 20.7% compared to the second quarter of 2021.
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Summary of average deposits - QTD Average				UMB Financial Corporation
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(unaudited, dollars in thousands)
	Q2			Q1			Q2			CQ vs.			CQ vs.
	2022			2022			2021			LQ			PY
Deposits:
Noninterest-bearing demand	$	14,209,159		$	14,025,585		$	10,701,656		$	183,574		$	3,507,503
Interest-bearing demand and savings		16,808,998			17,852,721			16,421,742			(1,043,723	)		387,256
Time deposits		570,812			701,973			659,228			(131,161	)		(88,416	)
Total deposits	$	31,588,969		$	32,580,279		$	27,782,626		$	(991,310	)	$	3,806,343
Noninterest bearing deposits as % of total		44.98	%		43.05	%		38.52	%
•	Average deposits decreased 3.0% on a linked-quarter basis and increased 13.7% compared to the second quarter of 2021.
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•	Average noninterest-bearing demand deposits increased 1.3% on a linked-quarter basis to $14.2 billion.
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Capital

Capital information	UMB Financial Corporation
(unaudited, dollars in thousands, except per share data)
	June 30, 2022			March 31, 2022			June 30, 2021
Total equity	$	2,642,888		$	2,748,405		$	3,090,244
Book value per common share		54.71			56.78			63.92
Tangible book value per common share (Non-GAAP)		50.64			52.69			59.96
Regulatory capital:
Common equity Tier 1 capital	$	3,055,747		$	2,938,100		$	2,730,062
Tier 1 capital		3,055,747			2,938,100			2,730,062
Total capital		3,473,040			3,369,866			3,172,878
Regulatory capital ratios:
Common equity Tier 1 capital ratio		11.44	%		11.81	%		11.91	%
Tier 1 risk-based capital ratio		11.44			11.81			11.91
Total risk-based capital ratio		13.00			13.55			13.84
Tier 1 leverage ratio		8.17			7.53			8.00
•	At June 30, 2022, the regulatory capital ratios presented in the foregoing table exceeded all “well-capitalized” regulatory thresholds.
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Asset Quality

Credit quality	UMB Financial Corporation
(unaudited, dollars in thousands)
	Q2			Q1			Q4			Q3			Q2
	2022			2022			2021			2021			2021
Net charge-offs - Total loans	$	28,128		$	8,378		$	8,061		$	3,127		$	28,374
Net loan charge-offs as a % of total average loans		0.62	%		0.20	%		0.19	%		0.07	%		0.68	%
Loans over 90 days past due	$	3,446		$	3,600		$	2,633		$	2,319		$	1,265
Loans over 90 days past due as a % of total loans		0.02	%		0.02	%		0.02	%		0.01	%		0.01	%
Nonaccrual and restructured loans	$	18,117		$	110,356		$	92,300		$	96,536		$	58,219
Nonaccrual and restructured loans as a % of total loans		0.10	%		0.62	%		0.54	%		0.59	%		0.34	%
Provision for credit losses	$	13,400		$	(6,500	)	$	8,500		$	(5,000	)	$	24,000
•	Provision for credit losses for the second quarter increased $19.9 million from the linked quarter and decreased $10.6 million from the second quarter of 2021. Provision expense in the first
---	---
quarter of 2022 represented a release of the Allowance for Credit Losses (ACL) based on positive macro-economic data and portfolio credit metrics.
---
•	Net charge-offs for the second quarter totaled $28.1 million, or 0.62%, of average loans, compared to $8.4 million, or 0.20%, of average loans in the linked quarter, and $28.4 million, or 0.68%, of average loans for the second quarter of 2021.
---	---
•	The increase in net charge-offs in the second quarter of 2022 is due to a $27.7 million write-down on a single commercial relationship.
---	---
•	Nonaccrual loans decreased 83.6% from the linked quarter to 0.10% of total loans.
---	---

Dividend Declaration

At the company’s quarterly board meeting, the Board of Directors declared a $0.37 per share quarterly cash dividend, payable on October 3, 2022, to shareholders of record at the close of business on September 12, 2022.

Conference Call

The company plans to host a conference call to discuss its second quarter 2022 earnings results on Wednesday, July 27, 2022, at 9:30 a.m. (CT).

Interested parties may access the call by dialing (toll-free) 844-200-6205 or (international) 929-526-1599 and requesting to join the UMB Financial call with access code 636921. The live call may also be accessed by visiting investorrelations.umb.com or by using the following link:

UMB Financial 2Q 2022 Conference Call

A replay of the conference call may be heard through August 10, 2022 by calling (toll-free)

866-813-9403 or (international) 929-458-6194. The replay access code required for playback is 826164. The call replay may also be accessed at investorrelations.umb.com.

Non-GAAP Financial Information

In this release, we may 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, operating pre-tax, pre-provision income (operating PTPP), operating pre-tax, pre-provision earnings per share – diluted (operating PTPP EPS), operating pre-tax, pre-provision income on a fully tax equivalent basis (operating PTPP-FTE), operating pre-tax, pre-provision FTE earnings per share – diluted (operating 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, operating PTPP, operating PTPP EPS, operating PTPP-FTE, operating 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).

Operating PTPP income for the relevant period is defined as GAAP net interest income plus GAAP noninterest income, less noninterest expense, adjusted to reflect the impact of excluding expenses related to acquisitions, severance expense, and COVID-19 related expense.

Operating PTPP-FTE for the relevant period is defined as GAAP net interest income on a fully tax equivalent basis plus GAAP noninterest income, less noninterest expense, adjusted to reflect the impact of excluding expenses related to acquisitions, severance expense and COVID-19 related 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, 2021, 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: macroeconomic and other challenges and uncertainties related to the COVID-19 pandemic, such as the impacts to the U.S. and global economies; and impacts related to or resulting from Russia’s military action in Ukraine, such as the broader impacts to financial markets and the global macroeconomic and geopolitical environments, may also cause actual results or other future events, circumstances, or aspirations to differ from our forward-looking statements. 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. As the company’s reach continues to grow, it also serves business clients nationwide and institutional clients in several countries. For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn, or follow us on Twitter at @UMBBank.

Consolidated Balance Sheets
(unaudited, dollars in thousands)
			2021
ASSETS
Loans	18,972,158		$	16,910,790
Allowance for credit losses on loans	(164,346	)		(200,563	)
Net loans	18,807,812			16,710,227
Loans held for sale	750			5,303
Securities:
Available for sale	7,739,216			10,347,531
Held to maturity, net of allowance for credit losses	5,707,282			1,081,173
Trading securities	9,646			40,552
Other securities	342,543			254,315
Total securities	13,798,687			11,723,571
Federal funds sold and resell agreements	1,055,459			1,146,521
Interest-bearing due from banks	1,825,295			5,059,098
Cash and due from banks	360,242			469,883
Premises and equipment, net	257,729			281,011
Accrued income	144,874			131,188
Goodwill	182,225			174,518
Other intangibles, net	14,465			16,636
Other assets	1,060,303			901,059
Total assets	37,507,841		$	36,619,015
LIABILITIES
Deposits:
Noninterest-bearing demand	14,925,555		$	12,513,031
Interest-bearing demand and savings	16,007,087			16,857,127
Time deposits under 250,000	383,832			430,713
Time deposits of 250,000 or more	169,550			247,600
Total deposits	31,486,024			30,048,471
Federal funds purchased and repurchase agreements	2,661,283			2,783,389
Long-term debt	272,505			270,558
Accrued expenses and taxes	182,185			254,589
Other liabilities	262,956			171,764
Total liabilities	34,864,953			33,528,771
SHAREHOLDERS' EQUITY
Common stock	55,057			55,057
Capital surplus	1,115,504			1,098,139
Retained earnings	2,384,454			2,040,134
Accumulated other comprehensive (loss) income, net	(564,803	)		223,107
Treasury stock	(347,324	)		(326,193	)
Total shareholders' equity	2,642,888			3,090,244
Total liabilities and shareholders' equity	37,507,841		$	36,619,015

All values are in US Dollars.

Consolidated Statements of Income	UMB Financial Corporation
(unaudited, dollars in thousands except share and per share data)
	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2022			2021		2022		2021
INTEREST INCOME
Loans	$	169,919		$	154,537	$	319,389	$	304,707
Securities:
Taxable interest		47,295			29,780		90,677		56,942
Tax-exempt interest		23,538			24,743		47,393		49,707
Total securities income		70,833			54,523		138,070		106,649
Federal funds and resell agreements		3,497			2,552		5,947		5,373
Interest-bearing due from banks		4,207			833		6,664		1,536
Trading securities		114			189		299		348
Total interest income		248,570			212,634		470,369		418,613
INTEREST EXPENSE
Deposits		15,439			6,574		21,612		13,372
Federal funds and repurchase agreements		4,998			1,779		7,146		3,665
Other		3,342			3,210		6,465		6,390
Total interest expense		23,779			11,563		35,223		23,427
Net interest income		224,791			201,071		435,146		395,186
Provision for credit losses		13,400			24,000		6,900		16,500
Net interest income after provision for credit losses		211,391			177,071		428,246		378,686
NONINTEREST INCOME
Trust and securities processing		58,886			53,863		118,414		108,697
Trading and investment banking		7,123			8,670		12,563		18,026
Service charges on deposit accounts		20,835			22,592		45,477		44,568
Insurance fees and commissions		245			245		504		665
Brokerage fees		12,391			2,592		15,847		5,926
Bankcard fees		17,840			16,063		34,475		30,736
Investment securities gains, net		60,720			15,455		60,198		7,119
Other		(1,705	)		12,109		12,535		24,749
Total noninterest income		176,335			131,589		300,013		240,486
NONINTEREST EXPENSE
Salaries and employee benefits		121,390			120,415		252,024		248,096
Occupancy, net		11,976			12,296		24,208		24,231
Equipment		18,315			19,196		36,479		38,811
Supplies and services		3,492			3,469		6,754		6,961
Marketing and business development		5,308			4,797		10,240		7,142
Processing fees		19,338			16,501		37,781		31,918
Legal and consulting		11,265			8,147		18,176		13,902
Bankcard		5,880			4,529		12,447		9,485
Amortization of other intangible assets		1,225			1,157		2,296		2,537
Regulatory fees		3,464			2,769		6,946		5,315
Other		12,474			8,062		21,554		13,886
Total noninterest expense		214,127			201,338		428,905		402,284
Income before income taxes		173,599			107,322		299,354		216,888
Income tax expense		36,043			19,910		55,835		36,833
NET INCOME	$	137,556		$	87,412	$	243,519	$	180,055
PER SHARE DATA
Net income – basic	$	2.85		$	1.81	$	5.03	$	3.74
Net income – diluted		2.83			1.79		4.99		3.70
Dividends		0.37			0.32		0.74		0.64
Weighted average shares outstanding – basic		48,347,226			48,294,952		48,376,868		48,196,345
Weighted average shares outstanding – diluted		48,673,964			48,698,319		48,755,059		48,604,140
Consolidated Statements of Comprehensive Income	UMB Financial Corporation
---	---	---	---	---	---	---	---	---	---	---	---	---
(unaudited, dollars in thousands)
	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2022			2021			2022			2021
Net income	$	137,556		$	87,412		$	243,519		$	180,055
Other comprehensive (loss) income, before tax:
Unrealized gains and losses on debt securities:
Change in unrealized holding gains and losses, net		(308,352	)		76,335			(931,262	)		(122,703	)
Less: Reclassification adjustment for gains included in net income		—			(1,300	)		—			(4,020	)
Amortization of net unrealized loss on securities transferred from available-for-sale to held-to-maturity		12,539			—			13,121			—
Change in unrealized gains and losses on debt securities		(295,813	)		75,035			(918,141	)		(126,723	)
Unrealized gains and losses on derivative hedges:
Change in unrealized gains and losses on derivative hedges, net		4,437			(3,422	)		9,117			3,081
Less: Reclassification adjustment for gains included in net income		(1,090	)		(877	)		(1,941	)		(1,719	)
Change in unrealized gains and losses on derivative hedges		3,347			(4,299	)		7,176			1,362
Other comprehensive (loss) income, before tax		(292,466	)		70,736			(910,965	)		(125,361	)
Income tax benefit (expense)		70,791			(16,826	)		219,848			30,128
Other comprehensive (loss) income		(221,675	)		53,910			(691,117	)		(95,233	)
Comprehensive (loss) income	$	(84,119	)	$	141,322		$	(447,598	)	$	84,822
Consolidated Statements of Shareholders' Equity		UMB Financial Corporation
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
(unaudited, dollars in thousands except per share data)
		Capital<br><br><br>Surplus			Retained<br><br><br>Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury<br><br><br>Stock			Total
Balance - January 1, 2021	55,057	$	1,090,450		$	1,891,246		$	318,340		$	(338,145	)	$	3,016,948
Total comprehensive income (loss)	—		—			180,055			(95,233	)		—			84,822
Dividends (0.64 per share)	—		—			(31,167	)		—			—			(31,167	)
Purchase of treasury stock	—		—			—			—			(4,088	)		(4,088	)
Issuances of equity awards, net of forfeitures	—		(4,122	)		—			—			4,817			695
Recognition of equity-based compensation	—		8,609			—			—			—			8,609
Sale of treasury stock	—		148			—			—			153			301
Exercise of stock options	—		3,054			—			—			11,070			14,124
Balance - June 30, 2021	55,057	$	1,098,139		$	2,040,134		$	223,107		$	(326,193	)	$	3,090,244
Balance - January 1, 2022	55,057	$	1,110,520		$	2,176,998		$	126,314		$	(323,465	)	$	3,145,424
Total comprehensive income (loss)	—		—			243,519			(691,117	)		—			(447,598	)
Dividends (0.74 per share)	—		—			(36,063	)		—			—			(36,063	)
Purchase of treasury stock	—		—			—			—			(31,806	)		(31,806	)
Issuances of equity awards, net of forfeitures	—		(6,630	)		—			—			7,309			679
Recognition of equity-based compensation	—		11,223			—			—			—			11,223
Sale of treasury stock	—		174			—			—			111			285
Exercise of stock options	—		217			—			—			527			744
Balance - June 30, 2022	55,057	$	1,115,504		$	2,384,454		$	(564,803	)	$	(347,324	)	$	2,642,888

All values are in US Dollars.

Average Balances / Yields and Rates	UMB Financial Corporation
(tax - equivalent basis)
(unaudited, dollars in thousands)
	Three Months Ended June 30,
	2022						2021
	Average			Average			Average			Average
	Balance			Yield/Rate			Balance			Yield/Rate
Assets
Loans, net of unearned interest	$	18,317,943			3.72	%	$	16,817,674			3.69	%
Securities:
Taxable		9,825,114			1.93			6,994,559			1.71
Tax-exempt		3,814,394			3.13			4,289,443			2.93
Total securities		13,639,508			2.27			11,284,002			2.17
Federal funds and resell agreements		1,100,918			1.27			1,110,433			0.92
Interest bearing due from banks		2,632,307			0.64			3,343,311			0.10
Trading securities		10,190			5.35			21,409			4.27
Total earning assets		35,700,866			2.86			32,576,829			2.70
Allowance for credit losses		(182,118	)					(199,379	)
Other assets		2,043,977						1,886,774
Total assets	$	37,562,725					$	34,264,224
Liabilities and Shareholders' Equity
Interest-bearing deposits	$	17,379,810			0.36	%	$	17,080,970			0.15	%
Federal funds and repurchase agreements		2,658,219			0.75			2,744,516			0.26
Borrowed funds		272,254			4.92			270,305			4.76
Total interest-bearing liabilities		20,310,283			0.47			20,095,791			0.23
Noninterest-bearing demand deposits		14,209,159						10,701,656
Other liabilities		394,923						398,319
Shareholders' equity		2,648,360						3,068,458
Total liabilities and shareholders' equity	$	37,562,725					$	34,264,224
Net interest spread					2.39	%					2.47	%
Net interest margin					2.60						2.56
Average Balances / Yields and Rates	UMB Financial Corporation
---	---	---	---	---	---	---	---	---	---	---	---	---
(tax - equivalent basis)
(unaudited, dollars in thousands)
	Six Months Ended June 30,
	2022						2021
	Average			Average			Average			Average
	Balance			Yield/Rate			Balance			Yield/Rate
Assets
Loans, net of unearned interest	$	17,842,153			3.61	%	$	16,533,463			3.72	%
Securities:
Taxable		9,644,345			1.90			6,698,020			1.71
Tax-exempt		3,926,444			3.08			4,295,317			2.95
Total securities		13,570,789			2.24			10,993,337			2.20
Federal funds and resell agreements		1,182,891			1.01			1,375,689			0.79
Interest bearing due from banks		3,965,267			0.34			3,079,684			0.10
Trading securities		15,484			4.70			19,485			4.28
Total earning assets		36,576,584			2.66			32,001,658			2.72
Allowance for credit losses		(190,123	)					(209,469	)
Other assets		1,966,176						1,862,036
Total assets	$	38,352,637					$	33,654,225
Liabilities and Shareholders' Equity
Interest-bearing deposits	$	17,964,006			0.24	%	$	17,076,681			0.16	%
Federal funds and repurchase agreements		2,815,130			0.51			2,632,567			0.28
Borrowed funds		271,994			4.79			269,942			4.77
Total interest-bearing liabilities		21,051,130			0.34			19,979,190			0.24
Noninterest-bearing demand deposits		14,117,879						10,230,287
Other liabilities		393,732						414,535
Shareholders' equity		2,789,896						3,030,213
Total liabilities and shareholders' equity	$	38,352,637					$	33,654,225
Net interest spread					2.32	%					2.48	%
Net interest margin					2.47						2.57
Business Segment Information	UMB Financial Corporation
---	---	---	---	---	---	---	---	---
(unaudited, dollars in thousands)
	Three Months Ended June 30, 2022
	Commercial Banking		Institutional Banking		Personal Banking		Total
Net interest income	$	149,094	$	34,981	$	40,716	$	224,791
Provision for credit losses		12,067		89		1,244		13,400
Noninterest income		56,894		81,082		38,359		176,335
Noninterest expense		79,521		76,511		58,095		214,127
Income before taxes		114,400		39,463		19,736		173,599
Income tax expense		23,752		8,193		4,098		36,043
Net income	$	90,648	$	31,270	$	15,638	$	137,556
	Three Months Ended June 30, 2021
	Commercial Banking		Institutional Banking		Personal Banking		Total
Net interest income	$	142,878	$	21,258	$	36,935	$	201,071
Provision for credit losses		21,993		147		1,860		24,000
Noninterest income		37,106		68,745		25,738		131,589
Noninterest expense		73,472		72,575		55,291		201,338
Income before taxes		84,519		17,281		5,522		107,322
Income tax expense		15,679		3,206		1,025		19,910
Net income	$	68,840	$	14,075	$	4,497	$	87,412
	Six Months Ended June 30, 2022
	Commercial Banking		Institutional Banking		Personal Banking		Total
Net interest income	$	294,096	$	61,233	$	79,817	$	435,146
Provision for credit losses		5,027		240		1,633		6,900
Noninterest income		83,594		154,354		62,065		300,013
Noninterest expense		159,110		152,112		117,683		428,905
Income before taxes		213,553		63,235		22,566		299,354
Income tax expense		39,831		11,795		4,209		55,835
Net income	$	173,722	$	51,440	$	18,357	$	243,519
	Six Months Ended June 30, 2021
	Commercial Banking		Institutional Banking		Personal Banking		Total
Net interest income	$	279,287	$	43,397	$	72,502	$	395,186
Provision for credit losses		13,816		367		2,317		16,500
Noninterest income		45,281		137,166		58,039		240,486
Noninterest expense		143,196		143,857		115,231		402,284
Income before taxes		167,556		36,339		12,993		216,888
Income tax expense		28,455		6,171		2,207		36,833
Net income	$	139,101	$	30,168	$	10,786	$	180,055

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 June 30, 2022.

Non-GAAP Financial Measures

Net operating income Non-GAAP reconciliations:	UMB Financial Corporation
(unaudited, dollars in thousands except per share data)
	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Net income (GAAP)	$	137,556		$	87,412		$	243,519		$	180,055
Adjustments:
Acquisition expense		—			—			—			—
Severance expense		52			103			197			124
COVID-19 related expense		—			182			—			337
Tax-impact of adjustments (i)		(12	)		(63	)		(47	)		(102	)
Total Non-GAAP adjustments (net of tax)		40			222			150			359
Net operating income (Non-GAAP)	$	137,596		$	87,634		$	243,669		$	180,414
Earnings per share - diluted (GAAP)	$	2.83		$	1.79		$	4.99		$	3.70
Acquisition expense		—			—			—			—
Severance expense		—			—			—			—
COVID-19 related expense		—			0.01			—			0.01
Tax-impact of adjustments (i)		—			—			—			—
Operating earnings per share - diluted (Non-GAAP)	$	2.83		$	1.80		$	4.99		$	3.71
GAAP
Return on average assets		1.47	%		1.02	%		1.28	%		1.08	%
Return on average equity		20.83			11.43			17.60			11.98
Non-GAAP
Operating return on average assets		1.47	%		1.03	%		1.28	%		1.08	%
Operating return on average equity		20.84			11.46			17.61			12.01

(i) Calculated using the company’s marginal tax rate of 24.0% in 2022 and 22.2% in 2021.

Operating noninterest expense and operating efficiency ratio Non-GAAP reconciliations:	UMB Financial Corporation
(unaudited, dollars in thousands)
	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Noninterest expense	$	214,127		$	201,338		$	428,905		$	402,284
Adjustments to arrive at operating noninterest expense (pre-tax):
Acquisition expense		—			—			—			—
Severance expense		52			103			197			124
COVID-19 related expense		—			182			—			337
Total Non-GAAP adjustments (pre-tax)		52			285			197			461
Operating noninterest expense (Non-GAAP)	$	214,075		$	201,053		$	428,708		$	401,823
Noninterest expense	$	214,127		$	201,338		$	428,905		$	402,284
Less: Amortization of other intangibles		1,225			1,157			2,296			2,537
Noninterest expense, net of amortization of other intangibles (Non-GAAP) (numerator A)	$	212,902		$	200,181		$	426,609		$	399,747
Operating noninterest expense	$	214,075		$	201,053		$	428,708		$	401,823
Less: Amortization of other intangibles		1,225			1,157			2,296			2,537
Operating expense, net of amortization of other intangibles (Non-GAAP) (numerator B)	$	212,850		$	199,896		$	426,412		$	399,286
Net interest income	$	224,791		$	201,071		$	435,146		$	395,186
Noninterest income		176,335			131,589			300,013			240,486
Less: Gains on sales of securities available for sale, net		—			1,300			—			4,020
Total Non-GAAP Revenue (denominator A)	$	401,126		$	331,360		$	735,159		$	631,652
Efficiency ratio (numerator A/denominator A)		53.08	%		60.41	%		58.03	%		63.29	%
Operating efficiency ratio (Non-GAAP) (numerator B/denominator A)		53.06			60.33			58.00			63.21
Operating pre-tax, pre-provision income non-GAAP reconciliations:	UMB Financial Corporation
---	---	---	---	---	---	---	---	---	---	---
(unaudited, dollars in thousands except per share data)
	Three Months Ended						Six Months Ended June 30,
	June 30,		March 31,		June 30,
	2022		2022		2021		2022		2021
Net interest income (GAAP)	$	224,791	$	210,355	$	201,071	$	435,146	$	395,186
Noninterest income (GAAP)		176,335		123,678		131,589		300,013		240,486
Noninterest expense (GAAP)		214,127		214,778		201,338		428,905		402,284
Adjustments to arrive at operating noninterest expense:
Acquisition expense		—		—		—		—		—
Severance expense		52		145		103		197		124
COVID-19 related expense		—		—		182		—		337
Total Non-GAAP adjustments		52		145		285		197		461
Operating noninterest expense (Non-GAAP)		214,075		214,633		201,053		428,708		401,823
Operating pre-tax, pre-provision income (Non-GAAP)	$	187,051	$	119,400	$	131,607	$	306,451	$	233,849
Net interest income earnings per share - diluted (GAAP)	$	4.62	$	4.31	$	4.13	$	8.93	$	8.13
Noninterest income (GAAP)		3.62		2.53		2.70		6.16		4.95
Noninterest expense (GAAP)		4.40		4.40		4.13		8.80		8.28
Acquisition expense		—		—		—		—		—
Severance expense		—		—		—		—		—
COVID-19 related expense		—		—		0.01		—		0.01
Operating pre-tax, pre-provision earnings per share - diluted (Non-GAAP)	$	3.84	$	2.44	$	2.71	$	6.29	$	4.81
Operating pre-tax, pre-provision income - FTE Non-GAAP reconciliations:	UMB Financial Corporation
---	---	---	---	---	---	---	---	---	---	---
(unaudited, dollars in thousands except per share data)
	Three Months Ended						Six Months Ended June 30,
	June 30,		March 31,		June 30,
	2022		2022		2021		2022		2021
Net interest income (GAAP)	$	224,791	$	210,355	$	201,071	$	435,146	$	395,186
Adjustments to arrive at net interest income - FTE:
Tax equivalent interest		6,278		6,399		6,629		12,677		13,307
Net interest income - FTE (Non-GAAP)	$	231,069	$	216,754	$	207,700	$	447,823	$	408,493
Noninterest income (GAAP)		176,335		123,678		131,589		300,013		240,486
Noninterest expense (GAAP)		214,127		214,778		201,338		428,905		402,284
Adjustments to arrive at operating noninterest expense:
Acquisition expense		—		—		—		—		—
Severance expense		52		145		103		197		124
COVID-19 related expense		—		—		182		—		337
Total Non-GAAP adjustments		52		145		285		197		461
Operating noninterest expense (Non-GAAP)		214,075		214,633		201,053		428,708		401,823
Operating pre-tax, pre-provision income - FTE (Non-GAAP)	$	193,329	$	125,799	$	138,236	$	319,128	$	247,156
Net interest income earnings per share - diluted (GAAP)	$	4.62	$	4.31	$	4.13	$	8.93	$	8.13
Tax equivalent interest		0.13		0.13		0.13		0.26		0.28
Net interest income - FTE (Non-GAAP)		4.75		4.44		4.26		9.19		8.41
Noninterest income (GAAP)		3.62		2.53		2.70		6.16		4.95
Noninterest expense (GAAP)		4.40		4.40		4.13		8.80		8.28
Acquisition expense		—		—		—		—		—
Severance expense		—		—		—		—		—
COVID-19 related expense		—		—		0.01		—		0.01
Operating pre-tax, pre-provision income - FTE earnings per share - diluted (Non-GAAP)	$	3.97	$	2.57	$	2.84	$	6.55	$	5.09
Tangible book value non-GAAP reconciliations:	UMB Financial Corporation
---	---	---	---	---
(unaudited, dollars in thousands except share and per share data)
	As of June 30,
	2022		2021
Total shareholders' equity (GAAP)	$	2,642,888	$	3,090,244
Less: Intangible assets
Goodwill		182,225		174,518
Other intangibles, net		14,465		16,636
Total intangibles, net		196,690		191,154
Total tangible shareholders' equity (Non-GAAP)	$	2,446,198	$	2,899,090
Total shares outstanding		48,305,286		48,346,371
Ratio of total shareholders' equity (book value) per share	$	54.71	$	63.92
Ratio of total tangible shareholders' equity (tangible book value) per share (Non-GAAP)		50.64		59.96

2nd Quarter 2022 Update July 26, 2022

Presentation Index 2 Corporate Overview Opportunity – Our Investment Thesis 2nd Quarter 2022 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 Healthcare Services 92 banking centers 233 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 Specialized Lending Verticals Corporate Trust Capital Markets (4) Fund Services Private Wealth Management & Personal Trust

At, or for the 3 months ended, 06/30/22. (1) Includes $26.4 mm in PPP balances; (2) Includes $11.0B in managed assets and $4.2B 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.

An unwavering commitment to doing more for our customers. Beyond Financials Our Culture 4 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 Commitment Our Vision the unparalleled customer experience

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.

6 Beyond Financials Our Commitment to Corporate Citizenship Read our 2021 Corporate Citizenship Report at UMB.com/CorporateCitizenship UMB recognizes the undeniable importance of sustainable business practices. Efficient & Sensible Resource Use Associate volunteerism and corporate philanthropy help build strong community partnerships. $6.6 million in company donations and sponsorships in 2021, supporting underserved communities’ housing needs, small business efforts, education and emerging talent

1,000+ participants in our workplace giving campaign supporting qualified nonprofits with pledges of $526k

Associates receive 16 hours of paid Volunteer Time Off (VTO) annually, and participates logged over 6,500 hours of volunteer time, despite the pandemic

UMB Market, which helps children learn about healthy shopping on a budget, was the Financial Education winner in the American Bankers Association Community Commitment Awards Community Impact 74 UMB buildings use automated systems to conserve energy, with a goal to include all UMB properties by year-end 2023

More than 183k Kilowatt hours generated from solar panels

Exterior lighting upgrades to LED saved more than 95k Kilowatt hours; committed to convert all locations by year-end 2023

Committed to paper reduction through digital opportunities and education programs

Adapting technology to include rooftop gardens, geothermal energy and charging stations for electric cars

Installed beehives at a Colorado branch to support the local honeybee population Effective governance practices preserve the confidence and trust of our stakeholders. 12-person board of directors, with 10 independent members, a lead independent director, and 100% independence on board committees

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

Board oversight of the executive ESG Committee Strong Corporate Governance We want our company to be as diverse as the world we live in. As an early CEO Action for Diversity and Inclusion signatory, we regularly review progress of our inclusion strategy with executives and our board of directors

Eight Business Resource Groups (BRGs) help us understand the needs of our associates, customers and communities and turn empathy into action

In 2021, 34% of all UMB hires were people of color, 52% were women and 2% were veterans

Diversity among leadership team – 8 of 16 members Inclusion & Diversity

Business Model Our Diverse Foundation Commercial & Personal Banking Services Revenue: 2Q’22 $285 million; FY’21 $922 million. Average deposits: $19.7 billion Average loans: $2.6B (1) (2) Average deposits: $6.7B Retail deposit & lending services through 92 branches and online Private banking services Consumer mortgage AUM = $11.0B AUA = $4.2B Financial planning Investment management Trust & custody Estate planning Family office Business exit planning C&I lending Small business lending CRE & Construction lending Average loans: $15.2B (1) Average deposits: $13.0B Agribusiness Energy Practice finance Mezzanine debt & equity investments Commercial Private Wealth Institutional Banking Services Revenue: 2Q’22 $116 million; FY’21 $361 million. Average deposits: $11.9 billion Institutional Banking provides solutions for the entire marketplace; $415.3 billion in AUA. (3) 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 (4) Fixed income sales & trading Public finance Investor Solutions Banking, cash management & specialty services for financial firms Healthcare Services Health savings & benefit spending accounts Healthcare payment solutions Balances at or for quarter ended 06/30/22. (1) Loan balances exclude credit card and PPP loans; (2) Includes consumer loans plus residential real estate loans to retail and private banking clients; (3) Includes AUA in Fund Services/custody, corporate trust and Healthcare Services; (4) Products and services offered through UMB Bank Capital Markets Division: NOT FDIC INSURED | MAY LOSE VALUE  | NOT BANK GUARANTEED. Aviation Asset-based lending Beverage Treasury management Merchant payments Specialized Expertise: 7

Our Investment Thesis

9 Investment Thesis Our Opportunity 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 Diverse and low-cost funding sources Track record of strong deposit growth in challenging times Net interest income growth Above peer earning asset growth Balance sheet flexibility to lever up deposit base through deployment into high-quality earning assets Focus on returning value to shareholders Risk-adjusted returns EPS and tangible book value growth outpace peers over the long-term Consistent dividend growth Differentiated revenue profile and growing fee income Revenue from diverse lines of business and verticals provide a natural hedge in all rate environments Lower-than-peer reliance on mortgage and NSF/OD revenue Solid capital and liquidity positions support growth objectives Higher common equity levels Attractive loan-to-deposit ratio provides flexibility Time-tested underwriting philosophy Unwavering credit standards Long-tenured credit team – average of 23 years with UMB Chief Credit Officer – 36 years with UMB

7% Balance Sheet Growth Across All Business Cycles 10 Average Loans Average Deposits Average annual balances in billions. 2.50% 0.14% 1.77% 0.09% Annual Loan Growth 12% 14% 9% 7% 5% 2% 6% 10% 10% 18% 12% 21% 19% 9% 7% 10% 25% 4% 14% 16% 11% 14% 10% 20% 13% 6% 11% 9% 4% 7% 14% 15 Year CAGR

10.4% 15 Year CAGR

11.7% (1) (1) Ex. PPP balances for ’20 & ‘21; (2) UMB traditional peers (15 banks), as of latest available annual period. Source: S&P Global Market Intelligence. Peer group defined on slide 48. (1) Annual Deposit Growth

Differentiated Revenue Profile Multiple Sources of Growth 11 Net Interest Income Fee Income Provides Diversity Dollars in millions. 29% 28% 54% 36% $ 1,282.7 $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

6.9% Revenue Growth Annual NII Growth Annual Revenue Growth 12% 15% 7% 18% 10% 3% 2% 1% 9% 4% 5% 18% 20% 13% 9% 10% -1% 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) UMB traditional peers (15 banks) as of latest available annual period. Source: S&P Global Market Intelligence. 15 Year CAGR

9.2% 15 Year CAGR

4.1% Fee Income Growth $ 815.5 $731.2 $217.2 $303.0 $232.7 $317.0 $275.1 $320.1 $310.6 $333.3 $412.1 $558.9 $350.1 $610.4 $495.3 $670.9

Capital & Liquidity Supports Growth Outlook 12 Cash & Securities / Assets Loans / Deposits Tier 1 Capital Ratio Tangible Common Equity / Assets (4) (3) (2) (1) UMB traditional peers (15 banks), as of latest available annual period. Source: S&P Global Market Intelligence; (2) Non-GAAP measure. See reconciliation on slide 47; (3) As defined by S&P Global: “Cash, cash equiv. & investment securities/assets;” (4) Period-end balances.

Resilient Credit Metrics Through All Economic Environments 13 Net Charge-Offs / Average Loans Nonperforming Loans / Loans 15 Year Average

0.30% 15 Year Average

0.45% (1) UMB traditional peers (15 banks), as of latest available annual period. Source: S&P Global Market Intelligence; (2) All FDIC-insured banks, as of latest available annual period. Source: FDIC. 0.25% 0.10% 0.27% 0.89% 0.47% 0.54%

Risk-Adjusted Returns Rowing Close to Shore 14 Risk-Weighted Assets / Assets Return on Risk-Weighted Assets (1) UMB traditional peers (15 banks), data as of latest available annual period. Source: S&P Global Market Intelligence.

Outperformance Building Long-Term Value 15 15-Year Compounded Annual Growth Rates 2006 – 2021 (2) *KBW Nasdaq Regional Bank Index (median of 50 banks); **UMB’s traditional peers (median of 15 banks); ***Median of all publicly-traded banks with data reported for both 2006 and 2021. (1) As of March 2022; (2) Non-GAAP measure. See reconciliation on slide 46. Source: KRX, Peer and Industry data from S&P Global Market Intelligence. (1)

Dividend Trends Sustained Growth 16 (1) Dividends adjusted for 2-for-1 stock split in 2006; (2) Annualized 2022 full-year dividend assumes all 4 quarters are $0.37/share, consistent with first and second quarter 2022 dividend. The Board of Directors may declare dividends of different amounts in future quarters. Annual Dividends Declared (1) +263.2%

2001 - 2021 (2) (2)

2nd Quarter 2022 Financial Review

2Q 2022 Results At-A-Glance 18 Dollars in millions, except per share amounts. (1) Net gains/losses related to mark-to-market valuations and any disposition of shares in equity investments. (2) Non-GAAP measure. See reconciliations on slide 44. 2Q ’21 1Q ’22 2Q ’22 Linked-Quarter Commentary

2Q 2022 Earnings Highlights 19 Operating PTPP Income (1) $187.1 $131.6 $109.6 $107.4 $119.4 Net Income $106.0 $137.6 $87.4 $94.5 $78.5 Dollars in millions, except per share amounts. (1) Operating pre-tax, pre-provision income. See reconciliation on slide 44; (2) Net gains/losses related to mark-to-market valuations and any disposition of shares in our equity investments.

Revenue Trends 20 Dollars in millions. Columns may not sum due to rounding differences. 2Q ’21 3Q ’21 4Q ’21 1Q ’22 2Q ‘22 Linked-Qtr. Variance $ ∆ % ∆

Net Interest Income 21 @ 0.16% $3.7B $4.5B $5.4B $6.8B $6.6B @ 0.92% @ 0.87% @ 0.83% @ 0.78% @ 1.27% @ 0.15% @ 0.19% @ 0.64% @ 0.10% Asset Yield and Liability Cost Trends Liquidity Trends Impact NIM $224.8 $209.8 $210.6 $210.4 $199.7 $204.5 $208.4 $223.1 13.7% 15.9% 18.8% 17.6% 10.5% $201.1 $188.7 $2.1B @ 1.79% @ 1.30% 8.4% Pre- pandemic Liquidity trends shown as average quarterly balances. $ millions $ billions EA % IBL % COF %

Noninterest Income 22 Current Quarter Drivers Dollars in millions. (1) UMB traditional peers (15 banks), data as of latest available quarter. Source: S&P Global Market Intelligence. Noninterest income increased $52.7mm, or 42.6%, vs. 1Q’22, driven by:

A gain of $66.2mm realized on the sale of Visa Class B shares, ($5mm of the gain contributed to charitable foundation), partially offset by a decline of $4.9mm in market valuations of other equity positions; An increase of $8.9mm in brokerage income, largely driven by 12b-1 and money market revenue share income; These increases were partially offset by

decreases of $10.5mm in company-owned life insurance income (with a similar offset in compensation expense) and $4.2mm in derivative income, both in “other” income; and a decrease of $3.8mm in deposit service charges due to lower healthcare transfer and conversion fees vs. 1Q’22. $176.3 $131.6 $107.9 $118.8 $123.7 LQ Variance Composition / Changes in Inv. Securities Gains (Losses) and Trust & Securities Processing

Noninterest Expense 23 Current Quarter Drivers Dollars in millions. Columns may not sum due to rounding differences. 2Q ’21 3Q ’21 4Q ’21 1Q ’22 2Q ‘22 Linked-Qtr. Variance $ ∆ % ∆ Noninterest expense decreased $0.7mm, or 0.3%, vs. 1Q’22. Primary drivers:

A decrease of $10.7mm in deferred compensation expense (offset to decreased COLI income); and A seasonal decrease of $6.2mm in payroll taxes, insurance, and 401(k) expense. These decreases were offset by $4.5mm in higher incentive expense from variable performance-related compensation; $4.4mm in additional charitable contributions; and An increase of $4.4mm in legal and consulting expense related to general corporate activities.

$16,693 $ 17,361 $ 18,318 $ 16,818 Diversified Loan Portfolio 24 Average balances in millions. $ 16,757 2Q ’21 1Q ’22 2Q ’22 Linked-Qtr. Variance $ ∆ % ∆ Loans by Region Kansas City 33% Colorado 19% Arizona 10% St. Louis 15% Greater MO 5% KS - 3% Texas 11% NE - 2% OK - 2%

Quarterly Loan Activity 25 (1) Payoffs and paydowns include C&I and CRE loans. 2Q ’21 3Q ’21 4Q ’21 1Q ’22 2Q ’22 (1) (1)

Strong Asset Quality 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. 26

27 Detailed Net Charge-Off History (1) Loan categories updated in 2020 with 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. Historical Recent Trends

High-Quality Investment Portfolio (1) Cash flow and purchase activity and HTM duration includes AFS and the portion of the HTM portfolio managed by the Corporate Treasury team; excludes industrial revenue bonds held-to-maturity; (2) Purchases made for roll-off and overbuy; net of purchases related to sales/trades. (3) Includes impact of ~$760mm pay-fixed receive-float swap portfolio with varying start dates. 28 Securities Portfolio Statistics & Activity (1) $8,093 $9,924 $10,567 $11,271 $11,278 $5,199 $1,057 $1,073 $1,195 $1,894 Available-for-Sale Held-to-Maturity Average balances - $ millions

Diversified Deposit Mix 29 $31,589 $29,428 $31,637 $32,580 Deposits by Line of Business Commercial Personal Institutional Commercial Banking 41% Consumer & Private Wealth 21% Capital Mkts. & Corp. Trust 13% Healthcare Services 7% Fund Services 8% Investor Solutions 10% 43% 45% 39% 39% 41% Average balances in millions. (1) Small business deposits were moved from consumer to commercial in 1Q ’22. $27,783 2Q ’21 1Q ’22 2Q ’22 Linked-Qtr. Variance $ ∆ % ∆ (1)

30 Interest Rate Sensitivity Impact to Net Interest Income Assumptions Projected rates for new loans and deposits based on historical analysis, management outlook and repricing strategies Asset prepayments and other market risks are developed from industry estimates of prepayment speeds and other market changes

Shock Scenario – Static Balance Sheet Ramp Scenario – Static Balance Sheet 58% of total loans, or $11.0B, are variable.

Of variable loans: 64% reprice within 12 months 45% tied to LIBOR (1) 31% - Prime 21% - SOFR 3% - other Loan Repricing (1) Loans tied to LIBOR are expected to migrate to the Secured Overnight Financing Rate index (“SOFR”) or other indices by 2Q ’23.

Line of Business Updates

Commercial Banking Commercial Capabilities 32 Average balance for 2Q’22. (1) ABA 2021, FDIC data; (2) Rank among U.S. Visa & Mastercard Commercial Card Issuers, Source: Nilson Report, 2021. Commercial Lending Portfolio Middle Market 56% Investment Real Estate 26% Sm./Med Biz 5% Specialized Verticals 13% $15.2B Average Balance

Commercial Banking C&I Lending 33 Commercial & Industrial Statistics C&I Industry Diversification (1) (2) Average loan size: $5.0 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 Manu-facturing Food/Beverage Manufacturing Healthcare Commercial Services Other (3) Agribusiness RE & Construction Finance & Insurance Energy-Related $8.6B 45.3% of total UMB loans (1) Includes C&I and leases; Industries as a percentage of C&I loans; (2) End-of-period balances; (4) Ex. PPP loans. (5) Previously presented metrics revised due to an internal system change. (2) (4) Average Line Utilization Trends +26% YoY (5) (4)

Commercial Banking Commercial Real Estate 34 Commercial Real Estate Statistics Investment CRE / Construction Portfolio (1) Total Investment CRE Portfolio

Average Loan-to-Value: 61% Recourse: 85% Const. / Land Dev. 14% Owner-Occupied 32% Investment CRE 46% $6.7B Farmland 7% as of June 30, 2022 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 (1) Industries as a percentage of investment CRE and construction portfolio; (2) Ex. PPP loans; (3) Calculated using Tier 1 capital plus an adjusted ACL, per regulatory guidelines. Regulatory Concentrations

Total non-farmland CRE / Total RBC: 156% Construction & Development Loans / Total RBC: 34% (3) $4.0B 21.3% of total UMB loans

Personal Banking Consumer 35 Strategic & Stable Source of Low-Cost Funds Diversified Products, Services & Engagement Hybrid Service & Sales Model—provides channel of choice & drives customer satisfaction Consumer plays a strategic role for UMB as a large and stable source of deposits. Poised for continued asset growth. Metrics at or for the quarter ended 06/30/22. (1) 2021 average Net Promoter Score across 43 financial services companies. Source: Medallia, Inc. Growth engine for new customers and deepening existing relationships. Digital Banking NPS Score 66.6 UMBF Industry Average (1) 51 Private Banking Strategically positioned for sales growth Retail Banking New First-Time Homebuyer Program with Down Payment Assistance 500+ Provided $920k in down payment assistance to new homeowners Financial Education – powered by 13,700 2Q ‘22 page views for UMB Financial Education Center landing page Community Engagements & Sponsorships 29 Organizations engaged by UMB Community Development through 2Q ‘22 $49mm Consumer deposits via Mobile +13% YoY 31% of non-mortgage loan applications $24mm 11% of new retail deposit accounts Applications YTD

Personal Banking Private Wealth Management 36 Composition as of 06/30/22. (1) Includes AUM and AUA. Previously-reported 2021 total included AUM only. Personal Trust 22% Investment Advisory 37% Non-Managed AUA 28% IRAs 5% Brokerage 4% Other 4% Customer Assets Wealth Management

Financial planning Discretionary investment management Investment research & education Brokerage services

Trust Management and Estate Planning

Charitable foundation planning & administration Trustee & successor trustee services Personal custody, including self-directed IRAs Unique asset administration Fine art management Trust tax preparation

Family Wealth Management A multi-family office

Strategic wealth solutions for ultra-high net worth families Business succession planning & continuity Direct private equity investments opportunities New Assets / Sales (1) $11.0B Managed Assets (AUM) $4.2B Non-Managed Assets (AUA) $749mm YTD ‘22

Institutional Banking Fund Services & Institutional Custody 37 Best Interval Fund Administrator (1) Best Administrator – Technology (2) Fund Services – Registered Funds & Alternative Investments Institutional Custody $379B $419B $407B $382B 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. Established in 1948. Best Custodian – 2021 (4) $405B (1) With Intelligence ‘19-’20 & ‘22 Awards; (2) Hedgeweek U.S. Awards ‘20 & PE Wire U.S. Awards ’20; (3) PE Wire ‘21; (4) HFM U.S. Services Awards ‘21. Best Administrator – GPs with assets <$30B (3)   Assets Under Administration

Institutional Banking Corp/Specialty Trust & Capital Markets 38 (1) Ranked by proceeds and number of issues; (2)Thomson Reuters municipal rankings, Sept. 2021; (3) Debtwire - ranking 1H’21; (4) Green Street Advisors’ Asset-Based Alert – 2021. Corporate Trust & Escrow Services Provides trustee, paying agent and escrow services to municipal and corporate issuers. $33B Assets Under Administration Municipal Trustee (1) (2) & Paying Agent (2) in U.S. #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. +15% New Business $ Volume YTD 1,104 Deals in ‘22 +33% 348 Deals YTD vs. 262 in 2021 +68% Growth in New Business $ Volume YTD Examples of recent deals: Capital Markets Division Capital solutions including fixed income sales, trading and underwriting for institutional, municipal and not-for-profit organizations. 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 (3) #7 Aviation & Asset-Based Securitization Trustee (4) TOP 10 Public Finance Closed Deals YTD ‘22 68

FDIC Sweep Assets Under Administration $71B Institutional Banking Investor Solutions & Healthcare Services 39 Investor Solutions Annual ACH Transactions Healthcare Services Provides a suite of tax-advantaged benefit accounts including Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Commuter Benefit Accounts.  HSA Account Holders 1.2mm In HSA Assets & Deposits $2.7B Top 10 HSA Custodians in the U.S. (2) TOP 10 Benefit Cards 4.1mm >65mm ~ 6mm accounts Recognized for Investment Quality (1) Named a Top HSA for Features & Investment Options (3) (1) Investor’s Business Daily 2021; (2) #6 by total accounts - Devenir Research Year-End ‘21; (3) Investor’s Business Daily ‘21. (4) ~$500mm in deposits & assets. Expected closing 4Q’22. 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. Agreement to acquire HSA business from Old National June 2022 +$500mm (4)

Payments Credit & Debit Card Products 40 $3,812 $3,789 $3,714 $3,723 2Q ’22 Card Spend

$3.8B 23rd In U.S. Credit Card Purchase Volume (1) #23 $3,658 Dollars in millions. (1) Rank in commercial, consumer and small business cards among top 50 U.S. issuers. Source: Nilson Report, December 2021. Card Purchase Volume & Interchange Trends

Appendix

Governance 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: macroeconomic and other challenges and uncertainties related to the COVID-19 pandemic, such as the impacts to the U.S. and global economies; and impacts related to or resulting from Russia’s military action in Ukraine, such as the broader impacts to financial markets and the global macroeconomic and geopolitical environments, may also cause actual results or other future events, circumstances, or aspirations to differ from our forward-looking statements.

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 (unaudited, dollars in thousands except per share data) The following are non-GAAP measures used by 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. UMB believes that these non-GAAP financial measures may be useful to investors because they adjust for items that management does not believe reflect the Company’s fundamental operating performance.

Operating PTPP income for the relevant period is defined as GAAP net interest income plus GAAP noninterest income, less noninterest expense, adjusted to reflect the impact of excluding expenses related to acquisitions, severance expense, and COVID-19 related expense.

Operating PTPP-FTE for the relevant period is defined as GAAP net interest income on a fully tax equivalent basis plus GAAP noninterest income, less noninterest expense, adjusted to reflect the impact of excluding expenses related to acquisitions, severance expense and COVID-19 related expense.

Tangible book value per share is defined as total shareholders’ equity, net of intangible assets, divided by total shares outstanding.

Tangible common equity ratio is calculated as total shareholders’ equity, net of intangible assets, divided by total assets, net of intangible assets. Operating Pre-Tax, Pre-Provision Income

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

Non-GAAP Reconciliations 46 Tangible Book Value (unaudited, dollars in thousands except per share data)

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

48 Our Peer Group UMB Financial Corporation 1010 Grand Boulevard Kansas City, MO 64106

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