10-K · February 26, 2026
UMB Financial completed a material acquisition (Heartland) on January 31, 2025 and reported a sharp revenue and cash-flow inflection in 2025 driven by the deal and higher margins. Capital metrics remain strong (CET1…
Earnings analysis · 10-Q
UMBF earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
UMB Financial reported strong Q1 2026 results with revenue of $739.2 million and GAAP diluted EPS of $3.41, exceeding consensus estimates of $702.7 million and $2.82, respectively. The growth was driven by a 34.4%…
Read full summary
UMB Financial reported strong Q1 2026 results with revenue of $739.2 million and GAAP diluted EPS of $3.41, exceeding consensus estimates of $702.7 million and $2.82, respectively. The growth was driven by a 34.4% increase in net interest income, largely due to an additional month of revenue from the Heartland Financial acquisition and increased loan growth.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $3.41
What stood out
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Revenue Growth and Beat
Revenue for Q1 2026 reached $739.2 million, up 31.1% from $563.9 million in Q1 2025.
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EPS Surpasses Expectations
GAAP diluted EPS was reported at $3.41, outperforming the expected $2.82, representing a significant surprise of 20.9%.
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Strong Loan Growth
Average loans increased by $7.1 billion, or 21.9%, reflecting the impact of the Heartland acquisition.
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Enhanced Net Interest Income
Net interest income rose by $136.7 million, or 34.4%, compared to Q1 2025, benefiting from improved margins.
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Decreased Noninterest Expenses
Noninterest expenses decreased by $3.9 million, or 1.0%, from the prior quarter, indicating improved operational efficiency.
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Positive Net Interest Margin Expansion
Net interest margin on a tax-equivalent basis increased by 42 basis points from Q1 2025.
What to watch
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Regulatory Environment Changes
Potential risks from changes in financial-services legislation could impact operations and profitability.
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Exposure to Economic Volatility
The Company anticipates continued volatility in economic markets due to governmental responses to inflation.
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Integration of Acquired Assets
Management noted that benefits from the merger with Heartland may take longer to fully realize.
Management's outlook
Management did not provide explicit numeric forward guidance in the 10-Q.
Earlier filings 4
10-Q · May 2, 2025
UMB Financial reported strong top-line expansion in 1Q25 with revenue of $563,837,000, driven by higher net interest income and deposit/loan growth after the HTLF acquisition. However, diluted EPS fell to $1.21 from…
10-Q · October 31, 2024
UMB reported net revenue (net interest income + noninterest income) of $406,119,000 and diluted EPS of $2.23 for the three months ended September 30, 2024, driven by higher interest income and growth in fee businesses.…
10-K · February 22, 2024
UMB Financial positions itself as a regional financial holding company focused on Commercial, Institutional and Personal Banking with a complementary asset-servicing business (UMB Fund Services). The 10‑K emphasizes a…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.