Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 314

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 314
---
        $
        7,704

        $
        464,349

        $
        641,743

        $
        30,734

        $
        15,326

        $
        2,649

        $
        1,162,505

        Utilities

        757,381

        795,448

        87,736

        26,720

        615

        —

        —

        1,667,900

        Total state and political subdivisions
         
        $
        757,381

        $
        803,152

        $
        552,085

        $
        668,463

        $
        31,349

        $
        15,326

        $
        2,649

        $
        2,830,405

      Competitive held-to-maturity securities include not-for-profit enterprises that provide public functions such as housing, higher education, or healthcare, but do so in a competitive environment.  It also includes project financings that can have relatively high enterprise risk, such as deals backed by revenues from sports or convention facilities or start-up transportation revenues.Utilities are public enterprises providing essential services with a monopoly or near-monopoly over the service area.  This includes environmental utilities (water, sewer, solid waste), power utilities (electric distribution and generation, gas), and transportation utilities (airports, parking, toll roads, mass transit, ports).All held-to-maturity securities were current and not past due at December 31, 2024 and 2023.Trading SecuritiesThe were no net unrealized gains or losses on trading securities as of December 31, 2024. The net unrealized gain on trading securities was $272 thousand and the net unrealized loss on trading securities was $26 thousand as of December 31, 2023 and 2022, respectively.  Net unrealized gains and losses are included in trading and investment banking income on the Consolidated Statements of Income.  Securities sold not yet purchased totaled $7.1 million and $8.0 million at December 31, 2024 and 2023, respectively, and are classified within the Other liabilities line of the Company’s Consolidated Balance Sheets.Other SecuritiesThe table below provides detailed information for Other securities at December 31, 2024 and 2023 (in thousands): 

        December 31,

        2024

        2023

        FRB and FHL