Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 255

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 255
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. Deposits averaged $35.3 billion in 2024, and $31.8 billion in 2023. 

Noninterest-bearing demand deposits averaged $10.1 billion in 2024 and $10.6 billion in 2023.  These deposits represented 28.5% of average deposits in 2024, compared to 33.5% in 2023.  The Company’s large commercial customer base provides a significant source of noninterest-bearing deposits.  Many of these commercial accounts do not earn interest; however, they receive an earnings credit to offset the cost of other services provided by the Company.

Table 17

MATURITIES OF UNINSURED TIME DEPOSITS (in thousands)

    December 31,

    2024

    2023

    Maturing within 3 months
     
    $
    750,150

    $
    445,239

    After 3 months but within 6 months

    72,123

    65,985

    After 6 months but within 12 months

    34,937

    44,077

    After 12 months

    7,075

    21,384

    Total
     
    $
    864,285

    $
    576,685

56

As of December 31, 2024, there were an estimated $31.0 billion of uninsured deposits, as compared to $24.4 billion as of December 31, 2023. Estimated uninsured deposits comprised approximately 72.0% and 68.2% of total deposits as of December 31, 2024 and December 31, 2023, respectively.  A portion of these uninsured deposits represent affiliate deposits and collateralized deposits. Affiliate deposits represent deposit accounts owned by the wholly owned subsidiaries of UMB Financial Corporation that are on deposit at the Bank.  Collateralized deposits are public fund deposits or corporate trust deposits that are collateralized by high quality securities within the investment portfolio. Excluding affiliate deposits of $2.4 billion and collateralized deposits of $6.0 billion, the adjusted estimated uninsured deposits were $22.7 billion as of December 31, 2024.  Excluding affiliate deposits of $2.0 billion and collateralized deposits of $6.2 billion, the adjusted estimated uninsured deposits were $16.2 billion as of December 31, 2023. The adjusted ratio of estimated uninsured