U M B Financial Q1: Strong Growth, Solid Credit

U M B Financials Q1 report exceeded expectations with 10.8% annualized loan growth, driven by $2.3 billion in new production. Core net interest margin expanded by 9 basis points to 3.05%, thanks to lower deposit costs. Credit remained solid with 19 basis points net charge-offs and a $27 million provision. Fee businesses like corporate trust and fund services thrived, with assets under administration reaching $565 billion. The bank addressed private credit risks, highlighting minimal exposure. Loan pipelines are robust, especially in Texas, California, and Utah. Expenses dropped 4.2% excluding one-offs, delivering positive operating leverage and a 47.6% efficiency ratio. Capital is building, with common equity tier one at 11.16%, up 20 basis points. The bank plans to repurchase more shares opportunistically. The second quarter outlook shows flat core margin, expenses around $383 million, and a tax rate expected at 20-22% for the year. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/403a26bf5240e6b5