Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 200

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 200
---
, 2023 Using

        Description
         
        December 31,2023

        Quoted Prices in Active Markets for Identical Assets (Level 1)

        Significant Other Observable Inputs (Level 2)

        Significant Unobservable Inputs (Level 3)

        Total Gains Recognized During the Twelve Months Ended December 31

        Collateral dependent assets
         
        $
        2,796

        $
        —

        $
        —

        $
        2,796

        $
        141

        Other real estate owned

        1,738

        —

        —

        1,738

        66

        Total
         
        $
        4,534

        $
        —

        $
        —

        $
        4,534

        $
        207

       Valuation methods for instruments measured at fair value on a non-recurring basis The following methods and assumptions were used to estimate the fair value of each class of financial instruments measured on a non-recurring basis:Collateral Dependent Assets Collateral dependent assets are assets evaluated as part of the ACL on an individual basis.  Those assets for which there is an associated allowance are considered financial assets measured at fair value on a non-recurring basis.  Adjustments are recorded on certain assets to reflect write-downs that are based on the external appraised value of the underlying collateral.  The external appraisals are generally based on recent sales of comparable properties which are then adjusted for the unique characteristics of the property being valued.  In the case of non-real estate collateral, reliance is placed on a variety of sources, including external estimates of value and judgments based on the experience and expertise of internal specialists within the Company’s property management group and the Company’s credit department. The valuation of collateral dependent assets and impaired loans are reviewed on a quarterly basis.  Because many of these inputs are not observable, the measurements are classified as Level 3.  Other real estate owned and Other repossessed assets Other real estate owned and other repossessed assets consist of loan collateral which has been repossessed through foreclosure. This collateral is comprised of commercial and residential real estate and other non-real estate property, including auto, recreational and marine 

133

vehicles. Other real estate owned and other repossessed assets are recorded as held for sale initially at the fair value of the collateral less estimated selling costs.  The initial valuation of the foreclosed property is obtained through an appraisal process similar to the process described in the