Net interest income surged 34.4% year-over-year to $534.4 million in 2026Q1, though this growth is tempered by a compressed net interest margin of 0.7% and elevated efficiency ratios of 47.0%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 2.71B | 2.57B | 1B | 920.12M | 913.8M | 815.52M | 731.23M | 670.9M | 610.45M | 558.91M | 495.32M | 412.07M | 350.06M | 333.27M | 320.06M | 316.97M | 310.61M | 302.99M | 275.05M | 232.68M | 217.22M | 188.29M | 179.1M | 194.08M | 218.03M | 239.73M | 234.41M | 224.06M | 222.5M | 221.5M | 207.5M |
| NII Growth % | 598.07% | 156.95% | 8.78% | 0.69% | 12.05% | 11.53% | 8.99% | 9.9% | 9.22% | 12.84% | 20.2% | 17.71% | 5.04% | 4.13% | 0.97% | 2.05% | 2.52% | 10.16% | 18.21% | 7.12% | 15.37% | 5.13% | -7.71% | -10.99% | -9.05% | 2.27% | 4.62% | 0.7% | 0.45% | 6.75% | 4.11% |
| Net Interest Margin % | 3.73% | 3.52% | 1.99% | 2.09% | 2.37% | 1.91% | 2.21% | 2.53% | 2.61% | 2.57% | 2.39% | 2.16% | 2% | 1.97% | 2.14% | 2.34% | 2.5% | 2.6% | 2.51% | 2.49% | 2.44% | 2.28% | 2.29% | 2.5% | 2.71% | 2.75% | 2.98% | 2.76% | 2.91% | 3.14% | 3.19% |
| Interest Income | 4.19B | 4.06B | 2.17B | 1.84B | 1.14B | 861.52M | 808.49M | 862.89M | 731.96M | 616.91M | 523.03M | 430.68M | 363.87M | 348.34M | 339.69M | 343.65M | 346.51M | 356.22M | 387.97M | 414.41M | 369.08M | 271.91M | 219.45M | 236.76M | 294.48M | 384.84M | 430.79M | 407.39M | 409.6M | 393.3M | 372.1M |
| Interest Expense | 1.48B | 1.49B | 1.17B | 918.59M | 223.72M | 46M | 77.26M | 191.99M | 121.52M | 58M | 27.71M | 18.61M | 13.82M | 15.07M | 19.63M | 26.68M | 35.89M | 53.23M | 112.92M | 181.73M | 151.86M | 83.62M | 40.35M | 42.68M | 76.45M | 145.14M | 196.38M | 183.32M | 187.1M | 171.8M | 164.6M |
| Loan Loss Provision | 447.99M | 533.99M | 61.05M | 41.23M | 37.9M | 20M | 130.5M | 32.85M | 70.75M | 41M | 32.5M | 15.5M | 17M | 17.5M | 17.5M | 22.2M | 31.51M | 32.1M | 17.85M | 9.33M | 8.73M | 5.78M | 5.37M | 12.01M | 16.74M | 14.75M | 9.2M | 8.66M | 10.8M | 11.93M | 10.6M |
| Non-Interest Income | 267.3M | 379.85M | 465.95M | 405.79M | 445.64M | 380.47M | 487M | 356.82M | 337.21M | 361.76M | 345.75M | 314.22M | 423.05M | 459.26M | 388.78M | 348.75M | 298.15M | 310.18M | 312.78M | 288.79M | 254.94M | 251.87M | 228.1M | 245.57M | 232.21M | 223.56M | 196.71M | 184.12M | 164.2M | 139.45M | 128.2M |
| Non-Interest Income % | 5.99% | 8.55% | 17.67% | 18.08% | 28.15% | 30.63% | 37.59% | 29.25% | 31.54% | 36.96% | 39.8% | 42.18% | 53.76% | 56.87% | 53.37% | 50.37% | 46.25% | 46.55% | 44.64% | 41.07% | 40.85% | 48.09% | 50.97% | 50.91% | 44.09% | 36.75% | 31.35% | 31.13% | 28.62% | 26.18% | 25.62% |
| Total Revenue | 4.46B | 4.44B | 2.64B | 2.24B | 1.58B | 1.24B | 1.3B | 1.22B | 1.07B | 978.67M | 868.78M | 744.9M | 786.92M | 807.6M | 728.46M | 692.4M | 644.66M | 666.39M | 700.76M | 703.2M | 624.03M | 523.78M | 447.56M | 482.33M | 526.69M | 608.4M | 627.49M | 591.51M | 573.8M | 532.75M | 500.3M |
| Revenue Growth % | 241.11% | 68.52% | 17.49% | 41.77% | 27.47% | -4.13% | 6.21% | 14.08% | 9.25% | 12.65% | 16.63% | -5.34% | -2.56% | 10.86% | 5.21% | 7.41% | -3.26% | -4.9% | -0.35% | 12.69% | 19.14% | 17.03% | -7.21% | -8.42% | -13.43% | -3.04% | 6.08% | 3.09% | 7.71% | 6.49% | 5.53% |
| Non-Interest Expense | 1.59B | 1.52B | 864.52M | 863.07M | 789.52M | 746.93M | 748.84M | 708.91M | 653.31M | 643.33M | 609.98M | 582.5M | 590.04M | 547.03M | 521.11M | 497.16M | 450.41M | 460.58M | 430.15M | 407.16M | 381.42M | 358.07M | 350.1M | 351.65M | 360.95M | 357.57M | 333.81M | 312.48M | 299.9M | 259.22M | 239.6M |
| Efficiency Ratio | 35.75% | 34.15% | 32.78% | 38.45% | 49.87% | 60.14% | 57.8% | 58.12% | 61.1% | 65.73% | 70.21% | 78.2% | 74.98% | 67.74% | 71.54% | 71.8% | 69.87% | 69.12% | 61.38% | 57.9% | 61.12% | 68.36% | 78.23% | 72.91% | 68.53% | 58.77% | 53.2% | 52.83% | 52.27% | 48.66% | 47.89% |
| Operating Income | 933.39M | 899.96M | 541.27M | 421.6M | 532.01M | 429.06M | 338.89M | 285.96M | 223.59M | 236.35M | 198.59M | 128.29M | 258.35M | 259.83M | 170.22M | 146.36M | 126.85M | 120.48M | 139.83M | 104.97M | 81.22M | 76.32M | 51.73M | 75.99M | 72.55M | 90.93M | 88.11M | 87.05M | 76M | 89.8M | 85.5M |
| Operating Margin % | 20.93% | 20.25% | 20.53% | 18.78% | 33.6% | 34.55% | 26.16% | 23.45% | 20.91% | 24.15% | 22.86% | 17.22% | 32.83% | 32.17% | 23.37% | 21.14% | 19.68% | 18.08% | 19.95% | 14.93% | 13.02% | 14.57% | 11.56% | 15.75% | 13.77% | 14.95% | 14.04% | 14.72% | 13.25% | 16.86% | 17.09% |
| Operating Income Growth % | - | 66.27% | 28.38% | -20.75% | 23.99% | 26.61% | 18.51% | 27.89% | -5.4% | 19.01% | 54.8% | -50.34% | -0.57% | 52.64% | 16.31% | 15.38% | 5.29% | -13.84% | 33.2% | 29.24% | 6.43% | 47.52% | -31.92% | 4.74% | -20.22% | 3.21% | 1.21% | 14.54% | -15.37% | 5.03% | 10.18% |
| Pretax Income | 1.11B | 874.96M | 541.27M | 421.6M | 532.01M | 429.06M | 338.89M | 285.96M | 223.59M | 236.35M | 198.59M | 128.29M | 166.06M | 183.42M | 170.22M | 146.36M | 126.85M | 120.48M | 139.83M | 104.97M | 82.02M | 76.32M | 51.73M | 75.99M | 72.55M | 90.93M | 88.11M | 87.05M | 76M | 89.8M | 85.5M |
| Pretax Margin % | 24.96% | 19.69% | 20.53% | 18.78% | 33.6% | 34.55% | 26.16% | 23.45% | 20.91% | 24.15% | 22.86% | 17.22% | 21.1% | 22.71% | 23.37% | 21.14% | 19.68% | 18.08% | 19.95% | 14.93% | 13.14% | 14.57% | 11.56% | 15.75% | 13.77% | 14.95% | 14.04% | 14.72% | 13.25% | 16.86% | 17.09% |
| Income Tax | 230.68M | 172.56M | 100.03M | 71.58M | 100.33M | 76.04M | 52.39M | 42.37M | 27.33M | 53.37M | 44.95M | 31.73M | 45.41M | 50.43M | 47.51M | 39.89M | 35.85M | 30.99M | 41.76M | 30.76M | 22.25M | 20M | 8.9M | 17.11M | 15.38M | 25.7M | 23M | 22.98M | 21.8M | 28.1M | 28M |
| Effective Tax Rate % | 20.72% | 19.72% | 18.48% | 16.98% | 18.86% | 17.72% | 15.46% | 14.81% | 12.22% | 22.58% | 22.64% | 24.73% | 27.34% | 27.5% | 27.91% | 27.25% | 28.26% | 25.72% | 29.86% | 29.3% | 27.13% | 26.21% | 17.2% | 22.51% | 21.2% | 28.27% | 26.1% | 26.39% | 28.68% | 31.29% | 32.75% |
| Net Income | 882.5M | 702.4M | 441.24M | 350.02M | 431.68M | 353.02M | 286.5M | 243.6M | 195.51M | 247.1M | 158.8M | 116.07M | 120.66M | 133.97M | 122.72M | 106.47M | 91M | 89.48M | 98.08M | 74.21M | 59.77M | 56.32M | 42.84M | 58.88M | 57.17M | 65.23M | 65.11M | 64.08M | 54.2M | 61.7M | 57.5M |
| Net Margin % | 19.79% | 15.81% | 16.73% | 15.59% | 27.27% | 28.42% | 22.12% | 19.97% | 18.29% | 25.25% | 18.28% | 15.58% | 15.33% | 16.59% | 16.85% | 15.38% | 14.12% | 13.43% | 14% | 10.55% | 9.58% | 10.75% | 9.57% | 12.21% | 10.86% | 10.72% | 10.38% | 10.83% | 9.45% | 11.58% | 11.49% |
| Net Income Growth % | 114.03% | 59.19% | 26.06% | -18.92% | 22.28% | 23.22% | 17.61% | 24.6% | -20.88% | 55.61% | 36.81% | -3.8% | -9.94% | 9.17% | 15.26% | 17% | 1.7% | -8.76% | 32.15% | 24.17% | 6.12% | 31.46% | -27.24% | 2.98% | -12.35% | 0.18% | 1.61% | 18.22% | -12.16% | 7.3% | 10.15% |
| Net Income (Continuing) | 882.5M | 702.4M | 441.24M | 350.02M | 431.68M | 353.02M | 286.5M | 243.6M | 196.26M | 182.98M | 153.63M | 96.56M | 120.66M | 133.97M | 122.72M | 106.47M | 91M | 89.48M | 98.08M | 74.21M | 59.77M | 56.32M | 42.84M | 58.88M | 57.17M | 65.23M | 65.11M | 64.08M | 54.2M | 61.7M | 57.5M |
| EPS (Diluted) | 11.57 | 9.13 | 8.99 | 7.18 | 8.86 | 7.24 | 5.93 | 4.96 | 3.93 | 4.96 | 3.22 | 2.44 | 2.65 | 3.20 | 3.04 | 2.64 | 2.26 | 2.20 | 2.38 | 1.77 | 1.40 | 1.30 | 0.99 | 0.68 | 1.29 | 1.48 | 1.39 | 0.67 | 0.45 | 0.51 | 0.45 |
| EPS Growth % | 41.76% | 1.56% | 25.21% | -18.96% | 22.38% | 22.09% | 19.56% | 26.21% | -20.77% | 54.04% | 31.97% | -7.92% | -17.19% | 5.26% | 15.15% | 16.81% | 2.73% | -7.56% | 34.46% | 26.43% | 7.69% | 31.31% | 45.59% | -47.29% | -12.84% | 6.47% | 107.46% | 48.89% | -11.76% | 13.33% | 28.57% |
| EPS (Basic) | - | 9.20 | 9.05 | 7.22 | 8.93 | 7.31 | 5.95 | 4.99 | 3.96 | 5.02 | 3.25 | 2.46 | 2.69 | 3.25 | 3.07 | 2.66 | 2.27 | 2.22 | 2.41 | 1.78 | 1.40 | 1.31 | 0.99 | 0.68 | 1.30 | 1.48 | 1.39 | 0.67 | 0.45 | 0.52 | 0.45 |
| Diluted Shares Outstanding | 76.31M | 76.48M | 49.06M | 48.76M | 48.75M | 48.74M | 48.34M | 49.09M | 49.77M | 49.84M | 49.28M | 47.58M | 45.45M | 41.28M | 40.03M | 40.33M | 40.27M | 40.67M | 41.21M | 41.93M | 42.59M | 43.26M | 43.49M | 43.61M | 44.32M | 44.29M | 46.9M | 45.72M | 47.44M | 47.95M | 48.7M |
Integration and credit volatility
As reported in recent financial statements, UMBF's net interest income reached $534.4 million in 2026Q1, reflecting a 34.4% year-over-year growth rate that appears heavily influenced by the integration of Heartland Financial, necessitating a cautious interpretation of underlying organic loan volume trends versus acquisition-driven balance sheet expansion.
The dramatic step-up in NII suggests that the bank's interest-earning capacity has been fundamentally altered by recent M&A activity. Investors should monitor whether the bank can maintain this elevated interest income level as the integration process matures and the cost of funding potentially adjusts to the new, larger deposit base.
According to quarterly regulatory filings, UMBF's net interest margin has remained compressed at 0.7% as of 2026Q1, indicating that the rapid expansion of the balance sheet has not yet translated into improved yield spreads, likely due to the immediate funding costs associated with recent acquisitions.
The persistent low NIM suggests that the bank is currently prioritizing scale over immediate spread optimization. This trend warrants further investigation into whether the institutional deposit base can eventually provide the low-cost funding advantage necessary to expand margins in a competitive rate environment.
Based on the company's reported figures, the efficiency ratio fluctuated to 47.0% in 2026Q1, a notable departure from the 30-40% range observed in prior periods, suggesting that the bank is currently absorbing significant overhead costs related to the integration of its expanded operational footprint.
The spike in the efficiency ratio indicates that the bank's operating leverage is currently strained by the complexity of merging distinct institutional and commercial platforms. Analysts should watch for a return to historical efficiency levels as management attempts to realize the projected cost synergies from the Heartland transaction.
As indicated by the 2025Q3 provision expense of $427.0 million, UMBF experienced a significant credit event that has since normalized to zero in 2026Q1, suggesting that the bank may have aggressively front-loaded its credit loss expectations to account for the risk profile of the acquired loan portfolio.
The volatility in provision expense implies that the bank's credit quality is highly sensitive to the integration of new loan books. Investors should monitor whether the current zero-provision environment is sustainable or if it reflects a temporary pause in recognizing potential credit deterioration within the expanded commercial real estate exposure.
Quick answers to the most common questions about buying UMBF stock.
UMB Financial Corporation (UMBF) is profitable, generating $702.4M in net income for the fiscal year ending 2025 with a net profit margin of 15.8%.
UMB Financial Corporation (UMBF) reported an operating income of $900.0M, resulting in an operating profit margin of 20.3%. This margin reflects the operational efficiency of the business before interest and taxes.
UMB Financial Corporation (UMBF) generated $2.42B in gross profit for the year, representing a gross profit margin of 54.4%. This demonstrates the company's core pricing power and production efficiency.