UMB Financial Corporation reported a fourth-quarter net income of $120.0 million, or $2.44 per diluted share, and a net operating income of $122.6 million, or $2.49 per diluted share. For the full year 2024, the company posted a net income of $441.2 million and a net operating income of $461.7 million. The company experienced strong balance sheet growth, with average loans increasing by 14.8% on a linked-quarter annualized basis and average deposits rising by 30.9% over the same period.

Net interest income for the fourth quarter increased by 8.7% sequentially, driven by an 11-basis-point rise in net interest margin and a 15.6% annualized increase in average earning assets. Noninterest income also grew by 4.1% compared to the previous quarter. Credit quality remained strong, with net charge-offs of 0.10% of average loans for the year.

UMB Financial achieved record financial results for 2024, surpassing $1.0 billion in net interest income and reporting $628.1 million in noninterest income. The company also announced that its merger with Heartland Financial is set to close on January 31, 2025. CEO Mariner Kemper attributed these results to strong operating fundamentals, new client acquisitions, and disciplined expense management.

The company's board of directors declared a quarterly cash dividend of $0.40 per share, payable on April 1, 2025, to stockholders of record as of March 10, 2025. A conference call to discuss earnings results is scheduled for January 29, 2025.