Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 294

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 294
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 securities are made at fair value at the time of transfer.  The unrealized holding gain or loss at the time of transfer is retained in AOCI and amortized over the remaining life of the securities, offsetting the related amortization of discount or premium on the transferred securities.  No gains or losses are recognized at the time of the transfer.

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Equity-method investmentsThe Company accounts for certain other investments using equity-method accounting.  For equity securities without readily determinable fair values, the Company’s proportionate share of the income or loss is recognized on a one-quarter lag.  When transparency in pricing exists, other investments are considered equity securities with readily determinable fair values.  Goodwill and Other IntangiblesGoodwill is tested for impairment annually and more frequently whenever events or changes in circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying value.  To test goodwill for impairment, the Company performs a qualitative assessment of each reporting unit.  If the Company determines, on the basis of qualitative factors, that the fair value of the reporting unit is more likely than not greater than the carrying amount, the quantitative impairment test is not required.  Otherwise, the Company compares the fair value of its reporting units to their carrying amounts to determine if an impairment exists and the amount of impairment loss.  An impairment loss is measured as the excess of the carrying value of a reporting unit’s goodwill over its fair value.   No goodwill impairments were recognized in 2024, 2023, or 2022.  Other intangible assets, which relate to core deposits, non-compete agreements, and customer relationships, are amortized over their useful life.  Intangible assets are evaluated for impairment when events or circumstances dictate.   No intangible asset impairments were recognized in 2024, 2023, or 2022.  The Company does not have any indefinite lived intangible assets.Premises and EquipmentPremises and equipment are stated at cost less accumulated depreciation, which is computed primarily on the straight-line method.  Premises are depreciated over 15 to 40 year lives, while equipment is depreciated over lives of 3 to 20 years.  Gains and losses from the sale of Premises and equipment are included in Other noninterest income and Other noninterest expense, respectively.Impairment of Long-Lived AssetsLong-lived assets, including Premises and equipment, are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount