UMB Financial Corporation announced net income available to common shareholders of $79.3 million, or $1.21 per diluted share, for the first quarter of 2025. This compares to $110.3 million, or $2.25 per diluted share, in the first quarter of 2024. The results reflect the impact of the Heartland Financial acquisition completed on January 31, 2025.
Net interest income surged to $397.6 million in Q1 2025, a 66.1% increase from $239.4 million in Q1 2024, driven by the acquired earning assets and favorable funding mix from Heartland. The net interest margin, on a tax-equivalent basis, expanded to 2.96%, up 48 basis points year-over-year. Noninterest income also increased by 4.4% to $166.2 million, benefiting from HTLF-related contributions in trust and securities processing, deposit service charges, and bankcard fees.
However, Q1 2025 noninterest expense included $51.3 million in transaction costs and other non-recurring charges related to the acquisition, along with $15.6 million in amortization of acquired intangible assets. A $62 million provision expense was recorded for the initial allowance for credit losses on acquired HTLF loans. Excluding these items, operating earnings were substantially higher, demonstrating the underlying performance of the combined entity.
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