Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 228

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 228
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 a fully tax-equivalent basis as a percentage of average earning assets.  Net interest income is presented on a tax-equivalent basis to adjust for the tax-exempt status of earnings from certain loans and investments, which are primarily obligations of state and local governments.  A critical component of net interest income and related net interest margin is the percentage of earning assets funded by interest-free sources.  Table 3 analyzes net interest margin for the three years ended December 31, 2024, 2023 and 2022.  Net interest income, average balance sheet amounts and the corresponding yields earned and rates paid for the years 2022 through 2024 are presented in Table 1 below.

The following table presents, for the periods indicated, the average earning assets and resulting yields, as well as the average interest-bearing liabilities and resulting yields, expressed in both dollars and rates.

39

Table 1

THREE YEAR AVERAGE BALANCE SHEETS/YIELDS AND RATES (tax-equivalent basis)

(in millions) 

    2024

    2023

    Average Balance

    Interest Income/ Expense (1)

    Rate Earned/ Paid (1)

    Average Balance

    Interest Income/ Expense (1)

    Rate Earned/ Paid (1)

    ASSETS

    Loans and loans held for sale (FTE) (2) (3)
     
    $
    24,212.6

    $
    1,613.2

    6.66
    %
     
    $
    22,337.1

    $
    1,400.2

    6.27
    %

    Securities:

    Taxable

    9,290.8

    257.6

    2.77

    9,097.1

    215.0

    2.36

    Tax-exempt (FTE)

    3,634.6

    124.9

    3.44

    3,790.9

    128.2

    3.38

    Total securities

    12,925.4

    382.5

    2.96

    12,888.0

    343.2

    2.66

    Federal funds sold and resell agreements

    303.1

    17.6

    5.82

    316.1