Every material Form 8-K UMB Financial filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
UMB Financial reported third-quarter 2024 GAAP net income of $109.6 million, or $2.23 per diluted share, up from $101.3 million in the second quarter and $96.6 million a year earlier. It also declared a quarterly dividend of $0.40 per share, a 2.6% increase, payable January 2, 2025, and reiterated that its pending Heartland Financial acquisition is expected to close in the first quarter of 2025.
Q3 2024 GAAP net income $109.6 million, or $2.23 per diluted share, versus $2.07 in Q2 2024 and $1.98 in Q3 2023
Net operating income (non-GAAP) $110.4 million, or $2.25 per diluted share
Quarterly dividend raised to $0.40 per share, payable January 2, 2025, to holders of record on December 10, 2024
Net interest margin fell to 2.46% from 2.51% in the linked quarter; average loans rose to $24.4 billion
UMB Financial reported second-quarter 2024 GAAP net income of $101.3 million, or $2.07 per diluted share, down from $110.3 million, or $2.25 per share, in the first quarter but up from $90.1 million, or $1.85 per share, a year earlier. Total revenue fell to $390.0 million from $398.7 million in the first quarter, while the board declared a $0.39 per share quarterly dividend.
GAAP diluted EPS was $2.07 for Q2 2024, versus $2.25 in Q1 2024 and $1.85 in Q2 2023; net operating income was $105.9 million, or $2.16 per diluted share.
Total revenue was $390.0 million, down $8.7 million from the first quarter, driven by lower investment securities gains and other income.
Average loans rose 7.3% year over year to $23.8 billion; net interest margin was 2.51%.
Legal and consulting expense of $16.6 million included costs tied to the announced acquisition of Heartland Financial USA, Inc.; the board declared a $0.39 dividend payable October 1, 2024, to holders of record on September 10, 2024.
UMB Financial Corporation disclosed that underwriters exercised in full a 30-day option to buy an additional 420,000 shares of common stock on April 30, 2024, following an April 28, 2024 offering. The company entered into an additional forward sale agreement with Bank of America, N.A. covering the same 420,000 shares, on terms essentially similar to the original forward sale agreement. The filing describes the share sale mechanics and does not report financial results or a change in guidance.
Underwriters exercised in full their option to buy 420,000 additional shares of common stock on April 30, 2024.
Original deal on April 28, 2024 covered 2,800,000 shares offered by BofA Securities, plus a forward sale agreement for 2,800,000 shares.
Additional Forward Sale Agreement with Bank of America, N.A. dated April 30, 2024 covers 420,000 shares.
UMB Financial agreed on April 28, 2024 to acquire Heartland Financial USA (HTLF) in an all-stock merger valued at about $2.0 billion, with HTLF holders receiving 0.55 UMB shares per HTLF share. Former HTLF stockholders are expected to hold about 31% of the combined company, which the companies say would bring UMB to $64.5 billion in assets and expand its footprint to 13 states. The deal requires UMB shareholder and HTLF stockholder approval and federal regulatory consents, and is expected to close in the first quarter of 2025.
Exchange ratio of 0.55 UMB shares per HTLF share, valued at $45.74 per HTLF share based on UMB's $83.17 close on April 26, 2024
Former HTLF stockholders expected to own about 31% of the combined company; five HTLF directors will join a 16-member UMB board
Termination fee of $70 million payable by either party in certain circumstances
Expected close in the first quarter of 2025, subject to Federal Reserve and OCC approvals and UMB shareholder and HTLF stockholder votes
UMB Financial reported first-quarter 2024 GAAP net income of $110.3 million, or $2.25 per diluted share, up from $92.4 million, or $1.90 per diluted share, a year earlier. The results include $13.0 million of pre-tax expense for the FDIC special assessment. The board also declared a $0.39 per share quarterly dividend and authorized repurchases of up to 1,000,000 shares, which sets cash returned to shareholders and the potential share count for the coming period.
GAAP net income was $110.3 million, or $2.25 per diluted share, versus $92.4 million, or $1.90, in Q1 2023 and $70.9 million, or $1.45, in Q4 2023.
Net operating income, a non-GAAP measure, was $120.7 million, or $2.47 per diluted share.
Quarterly dividend of $0.39 per share, payable July 1, 2024, to shareholders of record on June 10, 2024.
Board authorized repurchase of up to 1,000,000 shares, with purchases possible until the board meeting after the 2025 annual meeting.
UMB Financial Corporation promoted James D. Rine, previously Vice Chairman, to President of the Company, effective January 29, 2024. Chairman and CEO J. Mariner Kemper keeps his positions, and Rine keeps his role as President and CEO of UMB Bank, n.a. The filing states that no material compensation plan, contract, grant or award was entered into or amended in connection with the promotion.
Promotion effective January 29, 2024; the title was previously held by J. Mariner Kemper
Kemper remains Chief Executive Officer and Chairman
Rine remains President and CEO of UMB Bank, n.a., a role he has held since October 2018
No material compensation arrangement or equity award was made in connection with the promotion
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every UMB Financial filing is on SEC EDGAR ↗. 8-K briefs of other companies →