Company: UMBFO
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000950170-25-028420
Chunk: 312

Company: UMB FINANCIAL CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 312
---
 value of $3.8 billion were transferred from the available-for-sale classification to the held-to-maturity classification as the Company has the positive intent and ability to hold these securities to maturity.  The transfers of securities were 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 will be amortized over the remaining life of the securities, offsetting the related amortization of discount or premium on the transferred securities.  No gains or losses were recognized at the time of the transfers.  The amortized cost balance of securities held to maturity in the tables above includes a net unamortized unrealized loss of $171.3 million and $207.2 million at December 31, 2024 and 2023, respectively.Accrued interest on securities held to maturity totaled $25.6 million and $27.2 million as of December 31, 2024 and 2023, respectively, and is included in the Accrued income line on the Company’s Consolidated Balance 

105

Sheets.  The total amount of accrued interest is excluded from the amortized cost of held-to-maturity securities presented above.  Further, the Company has elected not to measure an ACL for accrued interest receivable.The following table shows the Company’s held-to-maturity investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2024 and 2023 (in thousands): 

        Less than 12 months

        12 months or more

        Total

        2024
         
        Count

        Fair Value

        Unrealized Losses

        Count

        Fair Value

        Unrealized Losses

        Count

        Fair Value

        Unrealized Losses

        U.S. Agency

        —

        $
        —

        $
        —

        10

        $
        115,750

        $
        (581
        )

        10

        $
        115,750

        $
        (581
        )

        Mortgage-backed

        6

        3,527

        (103
        )

        263

        2,101,125

        (418,379
        )

        269

        2,104,652

        (418,482
        )

        State and political subdivisions