UMB profits bounce back in first quarter

UMB Financial Corp. reported earnings of $33.8 million, or 74 cents a share, for the first quarter of 2015, a 44 percent spike over the same quarter last year.

Mariner Kemper, CEO of the Kansas City-based bank holding company, said factors including commercial real estate and construction loan growth spurred UMB’s improvement after a weak first quarter of 2014.

UMB’s average loan balance for the quarter increased by 11.8 percent over the prior-year quarter, to nearly $7.5 billion.

Total assets at the end of the period were $16.8 billion. UMB reported a 0.81 percent return on assets for the quarter.

Read more from the Kansas City Star

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