Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 143

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 143
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 investments are considered equity securities with readily determinable fair values.  Goodwill and Other IntangiblesGoodwill is tested for impairment annually and more frequently whenever events or changes in circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying value.  To test goodwill for impairment, the Company performs a qualitative assessment of each reporting unit.  If the Company determines, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not greater than the carrying amount, the quantitative impairment test is not required.  Otherwise, the Company compares the fair value of its reporting units to their carrying amounts to determine if an impairment exists and the amount of impairment loss.  An impairment loss is measured as the excess of the carrying value of a reporting unit’s goodwill over its fair value.   No goodwill impairments were recognized in 2024, 2023, or 2022.  Other intangible assets, which relate to core deposits, non-compete agreements, and customer relationships, are amortized over their useful life.  Intangible assets are evaluated for impairment when events or circumstances dictate.   No intangible asset impairments were recognized in 2024, 2023, or 2022.  The Company does not have any indefinite lived intangible assets.Premises and EquipmentPremises and equipment are stated at cost less accumulated depreciation, which is computed primarily on the straight-line method.  Premises are depreciated over 15 to 40 year lives, while equipment is depreciated over lives of 3 to 20 years.  Gains and losses from the sale of Premises and equipment are included in Other noninterest income and Other noninterest expense, respectively.Impairment of Long-Lived AssetsLong-lived assets, including Premises and equipment, are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset or group of assets may not be recoverable.  The impairment review includes a comparison of future cash flows expected to be generated by the asset or group of assets to their current carrying value.  If the carrying value of the asset or group of assets exceeds expected cash flows (undiscounted and without interest charges), an impairment loss is recognized to the extent the carrying value exceeds fair value.  No impairments were recognized in 2024, 2023, or 2022.Income TaxesThe Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and