Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 167

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 167
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 355

        Sales

        12,302

        132

        66,162

        Total investment securities gains (losses), net
         
        $
        10,720

        $
        (3,139
        )
         
        $
        58,444

       During 2022, the Company sold the entirety of its Visa Inc. Class B common shares in a cash transaction which resulted in a pre-tax gain of $66.2 million. Prior to the sale, the Visa Inc. Class B shares had no carrying value on the Company’s Consolidated Balance Sheets as the Company had no historical cost basis in the shares.

5. SECURITIES PURCHASED UNDER AGREEMENTS TO RESELLThe Company regularly enters into agreements for the purchase of securities with simultaneous agreements to resell (resell agreements).  The agreements permit the Company to sell or repledge these securities.  Resell agreements were $545.0 million and $240.3 million at December 31, 2024 and 2023, respectively.  The Company obtains possession of collateral with a market value equal to or in excess of the principal amount loaned under resell agreements.

6. LOANS TO OFFICERS AND DIRECTORSCertain executive officers and directors of the Company and the Bank, including companies in which those persons are principal holders of equity securities or are general partners, borrow in the normal course of business from the Bank.  All such loans have been made on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions with unrelated parties.  In addition, all such loans are current as to repayment terms.  

108

For the years 2024 and 2023, an analysis of activity with respect to such aggregate loans to related parties appears below (in thousands): 

        Year Ended December 31,

        2024

        2023

        Balance – beginning of year
         
        $
        508,507

        $
        362,853

        New loans

        62,805

        177,354

        Repayments

        (101,579
        )

        (27,271
        )

        Reduction due to change in reportable loans

        (91
        )

        (4,429
        )

        Balance – end of year
         
        $
        469,642

        $
        508,507

7.