BRIEF: UMB Financial Corp. reports jump in earnings

Wed. October 28, 2009; Posted: 02:53 AM

Oct 28, 2009 (The Kansas City Star - McClatchy-Tribune Information Services via COMTEX) -- UMBF | Quote | Chart | News | PowerRating -- Profits are climbing at UMB Financial Corp. because it is gaining market share, its CEO said Tuesday. UMB reported a 10.2 percent jump in third-quarter earnings.

"We're gaining market share," said Mariner Kemper, CEO of the Kansas City-based banking company. "We're seeing a great deal of new business."

Kemper said loans were up because the bank was gaining new borrowers, not because current commercial borrowers were drawing more on their credit lines at the bank.

UMB's third-quarter profits of $24 million equaled 59 cents a share, compared with $21.8 million, or 53 cents a share, a year earlier, the company said. Last year's earnings also included a one-time gain of $2.2 million, UMB said.

The recent profit equaled a 0.97 percent return on assets, compared with a 1 percent return in the year-ago quarter.

Loans totaled $4.3 billion at the end of September, up slightly from $4.2 billion a year earlier.

| Mark Davis, mdavis@kcstar.com

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For full details on Umb Financial Corp (UMBF) click here. Umb Financial Corp (UMBF) has Short Term PowerRatings of 5. Details on Umb Financial Corp (UMBF) Short Term PowerRatings is available at This Link.

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