Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 166

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 166
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. These holdings are carried at cost.  Equity securities with readily determinable fair values are generally traded on an exchange and market prices are readily available.  Equity securities without readily determinable fair values include equity investments which are held by a subsidiary qualified as a Small Business Investment Company, as well as investments in low-income housing partnerships within the areas the Company serves.  Unrealized gains or losses on equity securities with and without readily determinable fair values are recognized in the Investment securities gains, net line of the Company’s Consolidated Statements of Income.  

107

The table below presents the changes in equity securities without readily determinable fair values for the years ended December 31, 2024 and 2023 (in thousands): 

        Year Ended December 31,

        2024

        2023

        Balance – beginning of year
         
        $
        394,035

        $
        297,504

        Purchases of securities

        91,169

        109,487

        Observable upward price adjustments

        15,467

        2,514

        Observable downward price adjustments

        (5,153
        )

        (1,250
        )

        Sales of securities and other activity

        (78,768
        )

        (14,220
        )

        Balance – end of year
         
        $
        416,750

        $
        394,035

      Investment Securities Gains, NetThe following table presents the components of Investment securities gains (losses), net for the years ended December 31, 2024, 2023, and 2022 (in thousands): 

        Year Ended December 31,

        2024

        2023

        2022

        Investment securities gains (losses), net

        Available-for-sale debt securities:

        Gains realized on sales
         
        $
        139

        $
        154

        $
        —

        Losses realized on sales

        —

        (2
        )

        —

        Impairment on AFS security

        —

        (4,925
        )

        —

        Equity securities with readily determinable fair values:

        Fair value adjustments, net

        12

        168

        (8,073
        )

        Equity securities without readily determinable fair values:

        Fair value adjustments, net

        (1,733
        )

        1,334