Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 92

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 92
---
    32,969

    26,367

    11,296

    6,602

    34.3

    25.0

    Amortization of other intangible assets

    7,705

    8,587

    5,037

    (882
    )

    3,550

    (10.3
    )

    70.5

    Regulatory fees

    31,904

    77,010

    15,378

    (45,106
    )

    61,632

    (58.6
    )

    400.8

    Other

    30,564

    34,258

    43,188

    (3,694
    )

    (8,930
    )

    (10.8
    )

    (20.7
    )

    Total noninterest expense
     
    $
    1,026,686

    $
    999,140

    $
    898,119

    $
    27,546

    $
    101,021

    2.8
    %

    11.2
    %

Salaries and employee benefits expense increased $40.5 million, or 7.3%, in 2024 compared to 2023 and $29.0 million, or 5.5%, in 2023 compared to 2022.  In 2024, bonus and commission expense increased $22.4 million, or 19.5%, salaries and wage expense increased $14.0 million, or 4.1% and employee benefits expense increased $4.1 million, or 4.1%.  In 2023, salaries and wage expense increased $23.8 million, or 7.5% and employee benefits expense increased $20.5 million, or 26.0%.  These increases were offset by a decrease in bonus and commission expense of $15.3 million, or 11.8%.

Equipment expense decreased $5.3 million, or 7.7%, in 2024 compared to 2023, and decreased $5.5 million, or 7.5%, from 2022 to 2023.  The decreases in both years were driven by lower software expense related to a transition to cloud-based computing solutions.

Marketing and business development expense increased $2.