Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 183

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 183
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 card partner.  These performance obligations are completed as the referrals are made or over a period of time when the Company is exclusively issuing branded cards.  For the years ended December 31, 2024, 2023 and 2022, the Company also has approximately $39.4 million, $39.7 million, and $34.5 million of expense, respectively, recorded within the Bankcard fees line on the Company’s Consolidated Statements of Income related to rebates and rewards programs that are outside of the scope of ASC 606.  All material performance obligations are satisfied as of the end of each accounting period. Investment securities gains, net – In the regular course of business, the Company recognizes gains and losses on the sale of available-for-sale securities.  Additionally, the Company recognizes gains and losses on equity securities with readily determinable fair values and equity securities without readily determinable fair values.  These gains and losses are recognized in accordance with ASC 320, Debt and Equity Securities, and are outside of the scope of ASC 606. Other income – The Company recognizes other miscellaneous income through a variety of other revenue streams, the most material of which include letter of credit fees, certain loan origination fees, gains on the sale of assets, derivative income, and bank-owned and company-owned life insurance income.  These revenue streams are outside of the scope of ASC 606 and are recognized in accordance with the applicable U.S. GAAP.  The remainder of Other income is primarily earned through transactions with personal banking customers, including wire transfer service charges, stop payment charges, and fees for items like money orders and cashier’s checks.  The performance obligations of these types of fees are satisfied as transactions are completed and revenue is recognized upon transaction execution according to established fee schedules with the customers.   The Company had no material contract assets, contract liabilities, or remaining performance obligations as of December 31, 2024 or 2023.  Total receivables from revenue recognized under the scope of ASC 606 were $100.2 million and $86.6 million as of December 31, 2024 and December 31, 2023, respectively.  These receivables are included as part of the Other assets line on the Company’s Consolidated Balance Sheets. The following tables depict the disaggregation of revenue according to revenue stream and Business Segment for the three years ended December 31, 2024, 2023, and 2022.  As stated in Note