Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 87

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 87
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 period
     
    $
    261,734

    $
    222,996

    Allowance for credit losses on loans
     
    $
    259,089

    $
    219,738

    Allowance for credit losses on held-to-maturity securities

    2,645

    3,258

    Loans at end of year, net of unearned interest

    25,642,301

    23,172,484

    Held-to-maturity securities at end of period

    5,378,912

    5,691,868

    Total assets at amortized cost

    31,021,213

    28,864,352

    Average loans, net of unearned interest

    24,209,547

    22,334,942

    Allowance for credit losses on loans to loans at end of period

    1.01
    %

    0.95
    %

    Allowance for credit losses – end of period to total assets at amortized cost

    0.84
    %

    0.77
    %

    Allowance as a multiple of net charge-offs
     
    11.25x

    21.29x

    Net charge-offs to average loans

    0.10
    %

    0.05
    %

Noninterest Income

A key objective of the Company is the growth of noninterest income to provide a diverse source of revenue not directly tied to interest rates.  Fee-based services are typically non-credit related and are not generally affected by fluctuations in interest rates.  Noninterest income increased in 2024 by $86.3 million, or 15.9%, compared to 2023 and decreased in 2023 by $12.4 million, or 2.2%, compared to 2022.  The increase in 2024 is primarily driven by increased trust and securities processing income, other miscellaneous income, investment securities gains, net, and bankcard income.  The decrease in 2023 is primarily attributable to a decrease in investment securities gains, net, partially offset by an increase in other miscellaneous income and trust securities processing income. Changes in Noninterest income are presented in Table 6 below. 

45

The Company’s fee-based services offer multiple products and services, which management believes will more closely align with customer product demands.  The Company is currently emphasizing