PARENT COMPANY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

PARENT COMPANY FINANCIAL INFORMATION

20. PARENT COMPANY FINANCIAL INFORMATION

UMB FINANCIAL CORPORATION

BALANCE SHEETS (in thousands)

	December 31,
	2020		2019
ASSETS
Investment in subsidiaries:
Banks	$	2,902,559	$	2,338,718
Non-banks		138,450		149,561
Total investment in subsidiaries		3,041,009		2,488,279
Goodwill on purchased affiliates		5,011		5,011
Cash		172,745		143,193
Investment securities and other		135,609		98,799
Total assets	$	3,354,374	$	2,735,282
LIABILITIES AND SHAREHOLDERS' EQUITY
Long-term debt	$	269,595	$	70,372
Accrued expenses and other		67,831		58,470
Total liabilities		337,426		128,842
Shareholders' equity		3,016,948		2,606,440
Total liabilities and shareholders' equity	$	3,354,374	$	2,735,282

STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (in thousands)

	Year Ended December 31,
	2020			2019			2018
INCOME
Dividends and income received from subsidiaries	$	78,360		$	56,500		$	47,250
Service fees from subsidiaries		49,191			52,416			50,858
Other		9,241			11,249			651
Total income		136,792			120,165			98,759
EXPENSE
Salaries and employee benefits		56,919			57,487			46,707
Other		22,657			21,124			19,149
Total expense		79,576			78,611			65,856
Income before income taxes and equity in undistributed earnings of subsidiaries		57,216			41,554			32,903
Income tax (benefit) expense		(6,230	)		12,201			(4,432	)
Income before equity in undistributed earnings of subsidiaries		63,446			29,353			37,335
Equity in undistributed earnings of subsidiaries:
Banks		234,014			221,215			156,771
Non-Banks		(10,958	)		(6,968	)		2,154
Income from continuing operations		286,502			243,600			196,260
Loss from discontinued operations		—			—			(747	)
Net income	$	286,502		$	243,600		$	195,513
Other comprehensive income (loss)		235,160			178,962			(50,257	)
Comprehensive income	$	521,662		$	422,562		$	145,256

STATEMENTS OF CASH FLOWS (in thousands)

	Year Ended December 31,
	2020			2019			2018
OPERATING ACTIVITIES
Net income	$	286,502		$	243,600		$	195,513
Adjustments to reconcile net income to cash provided by operating activities:
Equity in earnings of subsidiaries		(301,415	)		(270,747	)		(206,175	)
Dividends received from subsidiaries		78,360			56,500			47,250
Depreciation and amortization		15			(78	)		486
Amortization of debt issuance costs		131			—			—
Equity based compensation		15,120			14,850			11,073
Net tax benefit related to equity compensation plans		345			766			2,364
Changes in other assets and liabilities, net		(2,069	)		(7,864	)		(5,994	)
Net cash provided by operating activities		76,989			37,027			44,517
INVESTING ACTIVITIES
Net capital investment in subsidiaries		(96,678	)		(331	)		(17,961	)
Net (increase) decrease in investment securities		(29,648	)		21			1,062
Net cash used in investing activities		(126,326	)		(310	)		(16,899	)
FINANCING ACTIVITIES
Cash dividends paid		(60,281	)		(59,436	)		(58,279	)
Proceeds from short-term debt		15,000			—			—
Repayment of short-term debt		(15,000	)		—			—
Proceeds from long-term debt		200,000			—			—
Payment of debt issuance costs		(2,250	)		—			—
Proceeds from exercise of stock options and sales of treasury stock		5,186			4,637			12,318
Purchases of treasury stock		(63,766	)		(4,496	)		(76,507	)
Net cash provided by (used) in financing activities		78,889			(59,295	)		(122,468	)
Net increase (decrease) in cash		29,552			(22,578	)		(94,850	)
Cash and cash equivalents at beginning of period		143,193			165,771			260,621
Cash and cash equivalents at end of period	$	172,745		$	143,193		$	165,771