Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 168

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 168
---
 31, 2024, 2023, and 2022 was $7.7 million, $8.6 million, and $5.0 million, respectively.The following table discloses the estimated amortization expense of intangible assets in future years (in thousands): 

        For the year ending December 31, 2025
         
        $
        7,510

        For the year ending December 31, 2026

        6,650

        For the year ending December 31, 2027

        4,678

        For the year ending December 31, 2028

        4,566

        For the year ending December 31, 2029

        4,548

109

8. PREMISES, EQUIPMENT, AND LEASESPremises and equipment consisted of the following (in thousands): 

        December 31,

        2024

        2023

        Land
         
        $
        40,601

        $
        41,368

        Buildings and leasehold improvements

        383,021

        370,646

        Equipment

        199,537

        194,171

        Software

        290,070

        287,592

        Total

        913,229

        893,777

        Accumulated depreciation

        (418,517
        )

        (394,892
        )

        Accumulated amortization

        (272,939
        )

        (257,185
        )

        Premises and equipment, net
         
        $
        221,773

        $
        241,700

       Premises and equipment depreciation and amortization expenses were $40.8 million in 2024, $46.5 million in 2023, and $46.8 million in 2022.  The Company primarily has leases of real estate, including buildings, or portions of buildings, used for bank branches or general office operations.  These leases have remaining lease terms that range from less than one year to 23 years and most leases include one or more options to renew, with renewal terms that can extend the lease term from one month to 35 years or more. The exercise of lease renewal options is at the Company’s sole discretion.  No renewal options were included in the Company’s calculation of its lease liabilities or right of use assets since it is