Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 235

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 235
---
 for credit losses

    Percent of loans to total loans

    Allowance for credit losses

    Percent of loans to total loans

    Commercial and industrial
     
    $
    160,912

    42.5
    %
     
    $
    155,658

    42.8
    %

    Specialty lending

    —

    1.8

    —

    2.2

    Commercial real estate

    77,340

    39.5

    45,507

    38.4

    Consumer real estate

    4,327

    12.4

    6,941

    12.8

    Consumer

    966

    0.8

    1,089

    0.7

    Credit cards

    14,272

    2.3

    7,935

    1.8

    Leases and other

    1,272

    0.7

    2,608

    1.3

    Total allowance for credit losses on loans
     
    $
    259,089

    100.0
    %
     
    $
    219,738

    100.0
    %

Table 5 presents a summary of the Company’s ACL for the years ended December 31, 2024 and 2023.  Also, please see “Quantitative and Qualitative Disclosures About Market Risk – Credit Risk Management” in this report for information relating to nonaccrual, past due, restructured loans, and other credit risk matters.  For more information on loan portfolio segments and ACL methodology refer to Note 3, “Loans and Allowance for Credit Losses,” in the Notes to the Consolidated Financial Statements.

44

As illustrated in Table 5 below, the ACL increased as a percentage of total loans to 1.01% as of December 31, 2024, compared to 0.95% as of December 31, 2023.  The provision for credit losses, including provision for off-balance sheet credit exposures, totaled $61.1 million for the year ended December 31, 2024, which is an increase of $19.8 million, or 48.1%, compared to the same period in 2023.  The provision for credit losses, including provision for off-balance