UMB Financial Corp. posted exceptionally strong second-quarter numbers, with stimulus programs certainly playing a role.
UMB Financial (Nasdaq: UMBF) is the Kansas City-based parent company of UMB Bank, which made $1.5 billion in Paycheck Protection Program loans. That helped boost the bank's loan portfolio to $15.3 billion, up 18.6% from a year ago.
More loans means more interest income, which rose 7.1% in the second quarter compared to last year, reaching $178.23 million. However, net interest…
UMB Financial Corp. posted exceptionally strong second-quarter numbers, with stimulus programs certainly playing a role.
UMB Financial (Nasdaq: UMBF) is the Kansas City-based parent company of UMB Bank, which made $1.5 billion in Paycheck Protection Program loans. That helped boost the bank's loan portfolio to $15.3 billion, up 18.6% from a year ago.
More loans means more interest income, which rose 7.1% in the second quarter compared to last year, reaching $178.23 million. However, net interest…