UMB Financial Annual Report 2016

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FY2016 Annual Report · UMB Financial

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Focused on more.

2016 ANNUAL REPORT

Industry

2016 industry median data as reported
by SNL Financial as of February 15, 2017

UMBF

UMB data as of December 31, 2016

+5.0%

Dividend Growth
Full-year 2006 through full-year 2016.

+92.2%

Dividend Growth
UMB increased its dividend 4.1 percent
in 2016, the 12th time in the past 10 years,
for a total increase of 92.2 percent.

0.94%

Nonperforming Loans To Total Loans

88.9%

Loan-To-Deposit Ratio

0.67%

Nonperforming Loans To Total Loans
We continue to maintain strong
asset quality regardless of the
economic environment.

63.6%

Loan-To-Deposit Ratio
In 2016, deposits increased 9.8 percent,
which allows us plenty of liquidity to
meet our customers' needs.

12.19%

Common Equity Tier 1 Capital Ratio

11.80%

Common Equity Tier 1 Capital Ratio
Our Common Equity Tier 1 capital ratio
is well above regulatory minimums.

+28.1%

Net Interest Income Growth
For the five years ended
December 31, 2016

+56.3%

Net Interest Income Growth
Our net interest income during the last
five years has been driven by our growing
loan portfolio and our ongoing efforts
to optimize our balance sheet.

Focused on You

Our brand promise, Count on more,® is at the core of everything we do.
More truly defines UMB and the way we work on behalf of our customers.
We believe you deserve more and you can depend on us to be more
nimble, more accessible and more responsive.

Focused on Service

We believe customers deserve a relationship with their financial partner
that isn’t just transactional—a relationship built on integrity and trust.
Our 3,688 associates strive to deliver the unparalleled customer
experience every day to our customers and to each other.

Focused on Efficiency

In 2016, we made positive progress on our initiative to reach $32.9 million
in expense savings. We remain dedicated to this work because it is a
renewed focus on how we do business, not just a one-time effort. Our efforts
will reduce the pace of expense growth, drive positive operating leverage
and increase overall improvements in performance metrics over time.

Focused on Diversity

The diversity of our business model sets us apart in the industry.
With 49.0 percent of our revenue coming from fee-based businesses,
paired with our commitment to a strong balance sheet, we have a
solid foundation that will help ensure the long-term success of UMB.

Focused on the Future

We are focused on growing our businesses in the most efficient, healthy
and profitable way possible, without compromising our underlying values.
We never make short-term decisions that will negatively impact our
customers or the long-term value of our franchise.

Revenue Streams

Rev by Business Segment

Net Income Business Segment

Revenue by Segment

Net Income by Segment

UMB Financial Corporation
We are a diversified financial services holding company aligned into three strategic business
segments to best serve our customers and achieve long-term growth opportunities.

82.0% UMB Bank
10.2% UMB Fund Services
7.8% Scout Investments

89.9% UMB Bank
9.1% UMB Fund Services
1.0% Scout Investments

2016 numbers as of December 31, 2016. 2015 numbers as of December 31, 2015.

Total Revenue

$971.4M

2015 $878.5M

Earnings Per Share
(Diluted)

$3.22

2015 $2.44

Market Cap

Total Assets

$3.8B

2015 $2.3B

5-Year Earnings Per
Share Growth
(CAGR) (Diluted)

+4.1%

2015 +1.5%

$20.7B

2015 $19.1B

Dividends Per Share

Investment
Assets Under
Management

$40.9B

2015 $40.0B

Price-to-Earnings Ratio

$.99

2015 $.95

23.9

2015 19.0

Percentage Noninterest
Bearing Deposits

40.2%

2015 41.8%

Percent Revenue
From Fees

49.0%

2015 53.1%

UMB Financial Corporation

Our Footprint
We serve customers across the entire country.

Fund Services

National Presence

Healthcare Services

UMB Bank Presence

UMB Financial Headquarters

Corporate Trust / Institutional Banking

UMB Financial Corporation Headquarters
UMB Bank Presence
National Presence:
Corporate Trust / Investment Banking Division
Fund Services
Healthcare Services
Marquette Asset Management
Marquette Business Credit
Marquette Transportation Finance
Prairie Capital Management
Private Wealth Management / Personal Trust
Scout Investments
UMB Trust Company of South Dakota

Marquette Transportation Finance

Institutional Asset Management

Marquette Asset Management

Marquette Business Credit

Payment Solutions

Prairie Capital

Private Wealth Management / Personal Trust

Scout Investments

NASDAQ

UMBF

UMB Financial

UMBFinancial.com

Headquarters

KC, MO

UMB Bank

UMB.com

Locations / ATMs

109/296

UMB Fund Services

UMBFS.com

Years in Business

104

Scout Investments

ScoutInv.com

Employees

3,688

Follow UMB

RAM SHANKAR
Chief Financial Officer,
UMB Financial Corporation

MARINER KEMPER
Chairman, UMB Bank, n.a.;
Chairman, President and
Chief Executive Officer,
UMB Financial Corporation

MICHAEL HAGEDORN
Chairman and Chief Executive
Officer, UMB Bank n.a.;
Vice Chairman,
UMB Financial Corporation

Focused on more.

Dear fellow shareholders,

Our customers are telling us 2017 is a year full
of potential for positive change. Most individuals
and businesses are optimistic about economic
prospects and the potential for pro-growth policies.
The industry is hopeful for a gradual return to
more normal interest rates. Uncertainties persist,
but we are all moving forward and we remain laser
focused on delivering more to our customers.

Customers are always at the center
of UMB’s attention. Our promise—
Count on more—means we fix our
sights on delivering service that
exceeds expectations. More helps
businesses and consumers achieve
their goals and dreams for the future.
That’s our focus, day in and day out.

For UMB, 2016 was a year of great
progress. We recorded record revenue,
improved net income and renewed
our commitment to operational
efficiency and financial discipline.
Changes across our diversified financial
services business drove growth and
improved returns.

We continue to focus on the right
things to create a bright future for
our customers and shareholders.

MILESTONES OF 2016
I am incredibly proud of the results
UMB associates delivered in 2016.
Among our milestones:
• Revenue grew to a record level,

propelled by double-digit expansion
in loans and net interest income,
plus a modest increase in fee income.
• We maintained our focus on
efficiency and reduced our ratio
of expenses to revenue.
• We improved profitability by
working to optimize the asset mix
on our balance sheet.
• We managed capital effectively
to fund growth and potential
new opportunities.

UMB shareholders benefited from a
32.1 percent increase in earnings per
share in 2016, and we increased the
dividend 4.1 percent going into 2017.
Our hard work is showing in the bottom
line and we still have opportunity
ahead of us in 2017.

GROWING ROBUSTLY
UMB’s diversified financial services
model, along with the strategic
actions we have taken in recent years,
drove robust growth in assets,
revenue and earnings in 2016.

2016 Highlights

FEB

NEARLY 9,000 CUSTOMERS CONVERTED IN
ACQUISITION INTEGRATION
Following the 2015 acquisition of Marquette Financial
Companies, UMB successfully converted all Meridian
Bank and Meridian Bank Texas customers in
February 2016.

JUNE

$10 BILLION IN TOTAL LOANS
UMB Financial Corporation’s total loans surpassed
$10 billion in the second quarter of 2016 for the first
time in the company's history.

AUG

UMB FORMS NEW HEALTHCARE SERVICES
STRATEGIC ADVISORY COUNCIL
This council is intended to examine various healthcare
topics, including policy, payments, innovation, consumer
trends and benefit accounts to benefit UMB’s strategic
direction and future growth in the industry.

SEPT

SAME-DAY ACH
UMB began processing same-day ACH credit
origination for its customers on day one of the new
feature's implementation by the National Automated
Clearing House (NACHA).

OCT

NAMED TOP 25 FARM LENDER
UMB's Agribusiness division rose from the top 50
U.S. farm lenders to number 23 on the list as of third
quarter 2016.

Source: American Bankers Association (ABA).

DEC

$20 BILLION IN TOTAL ASSETS
UMB Financial Corporation's total assets exceeded
$20 billion at end of year 2016—a company record.

Net Interest Income

Millions of Dollars

Noninterest Income
Millions of Dollars

Net Income
Net Income
Millions of Dollars
Millions of Dollars

Net Interest Income
Net Interest Income
Net Interest Income
Millions of Dollars
Millions of Dollars
Millions of Dollars

Noninterest Income
Noninterest Income
Millions of Dollars
Millions of Dollars

Noninterest Income
Millions of Dollars

Net Income
Net Income
Millions of Dollars
Millions of Dollars

$495

$499

$492

$412

$458

$476

$466

$134

$123

$121 $116

$350

$320

$333

$159

$495

$499

$492

$412

$458

$476

$466

$159

$134

$123

$121 $116

$350

$320

$333

500

400

300

200

100

500

400

300

200

100

200

150

100

200

150

100

500

300

400

300

400

UMB Bank led the expansion with an
18.6 percent year-over-year increase
in average loans, to more than
$9.0 billion. The Marquette acquisition
in mid-2015 doubled our presence in
the Arizona and Texas markets, and
our other regions continued to deliver
solid growth. Our combined banking
teams across the footprint now offer
a broader line of financial services
to the customer base.

100

200

100

300

400

300

• Average total assets grew at a
9.6 percent rate from 2011 to 2016;
• Average loans increased at an
industry-leading 16.0 percent;
• Net interest income grew
9.3 percent;
• Noninterest income experienced
2.8 percent growth; and,
• Book value per share grew
6.0 percent.

200

100

200

100

Another important part of our growth
comes from our strong, diverse
deposit base. UMB excels in gathering
core deposits from commercial,
consumer, institutional and our health
savings accounts (HSAs). These
deposits provide low-cost funding
for loans and other assets, creating
a competitive advantage.

When you have been in business for
more than a century, people get to
know you, and you get to know them.
Relationships with customers drive
success. Many of our associates have
been with us 20 or 30 years, so they
know our customers and can help
solve problems or address needs as
they develop. UMB’s experienced
bankers are accessible, responsive
and dedicated to service.

Several fee-based businesses—
healthcare and card services,
institutional banking and asset
servicing—also delivered profitable
growth, more than offsetting a decline
in institutional investment management
revenue following large equity outflows
and the resulting change in asset mix.
Investment performance in our
institutional investment management
segment improved, and fund flows
may turn around as investors respond.

MORE GROWTH
I have been known to say we run our
company for the long haul, not the
quarter. Like many of our customers,
we seek to increase the value of our
business by steady, long-term growth.
Key metrics indicate our success over
the past five years (compound annual
growth rates):

We are focused on strengthening our base
of services, growing into new markets and
increasing efficiency—UMB’s future is bright.

“

MORE EFFICIENT
We announced efficiency initiatives
in mid-2015, targeting $32.9 million
in cost savings and outlining actions
to improve our efficiency ratio to
70 percent. We continue to execute
on those initiatives and closed on
our near-term goals with a
cumulative $29.9 million in efficiencies
accomplished by 2016 year-end,
and a full-year efficiency ratio of
72.4 percent in 2016 vs. 77.6 percent
in 2015.

We have become more disciplined
than ever and are committed to
maintaining strong operating leverage.
We are evolving into a performance
culture. All across UMB, I see associates
asking how we can be smarter, bolder
and more innovative, and they are
making operational improvements,
small and large. It’s an entrepreneurial
attitude, and I couldn’t be more proud.

Part of this new energy and attitude
is the work we did around branch
optimization. We call it the “4K”
delivery model which takes a look at
everything including changes in staffing,
hours and incentives—resulting in initial
improvements of 20-30 percent in
branch-level efficiency. In addition,
in 2016, we closed 10 smaller, less

profitable branches and opened one
strategic new location.

DIVERSE BASE FOR GROWTH
The diversity of UMB’s business goes
beyond our roughly fifty-fifty split
between interest and fee-based
income. Our bank segment spans four
lines of business: Commercial Banking,
Personal Banking, Institutional
Banking and Healthcare Services.
These four lines of business broaden
UMB’s customer base and enhance
our geographic diversity. We also have
diversified lending by building industry
specialties such as commercial real
estate, aviation and agribusiness.
Two national specialty-lending
platforms acquired with Marquette
Financial Companies in 2015 are
growing customer relationships for
accounts receivable financing and
asset-based lending. And these
businesses are creating cross-selling
opportunities with complementary
UMB services.

Part of our diverse business model
success is due to our fee-based
businesses that cross a number of
services and industries. Fee income
has remained stable even as market
cycles impacted our institutional
investment management business.

2016 Average Loan Growth

+18.6%

2016 Total Asset Growth

+8.3%

2016 Total Deposit Growth

+9.8%

2016 Loan-to-Deposit Ratio

+63.6%

UMB Healthcare Services continues
to grow rapidly as one of the top HSA
custodians in the nation. At year-end
2016, we held $1.8 billion in HSA
deposits and investment assets,
up 36.6 percent from a year earlier.
The number of HSA accounts rose
22 percent to 982,000. According
to industry reports, UMB holds a
5 percent share of the nationwide
HSA market, ranking fifth by number
of accounts and sixth by deposits
and investment assets.

Our Institutional Banking businesses
are performing well, including rapid
growth in our $51.9 billion FDIC sweep
program, which offers broker-dealer
clients a liquid alternative to overnight
money funds. We opened a New York
investment banking office in 2016 for
underwriting, trading and distribution
of bonds to institutional clients, as well
as corporate trust activities.

Institutional investment management
assets under management were flat
as volatility in the recent market cycle
hurt some strategies. Improving
performance is our priority in an effort
to turn around fund flows. We hope
stronger performance numbers
will lead to stronger flows in 2017.

The asset servicing segment delivered
steady results, with UMB Fund Services
assets under administration growing
modestly. The number of alternative
investment funds serviced grew
11.5 percent in 2016, including noticeable
growth in private equity funds.

Our strength in fee revenue remains a
differentiator and a focus. Noninterest
income represented 49.0 percent of
our total revenue in 2016 compared
to a peer median of 18.6 percent.
We believe a broad base in our
business empowers long-term value
creation for our shareholders.

OPTIMIZING OUR BALANCE SHEET
An ongoing strategy for UMB is
adjusting the asset mix on our balance
sheet to optimize returns, and 2016
brought tangible progress. Most of our
emphasis has been on growing UMB’s
loan portfolio to shift interest-earning
assets from relatively low-yield
securities to higher-earning loan
relationships and from variable to
fixed rates which can carry higher
yields—without sacrificing our culture
of strong credit underwriting.

In 2016, UMB Bank increased average
loans by $1.6 billion, or 18.6 percent,

2016 Total Revenue Growth

+10.6%

2016 Book Value Per Share Growth

+3.1%

2016 Net Interest Income Growth

2016 Total Card Purchase Volume Growth

+20.2%

+7.6%

contributing to a strong year-over-
year increase in net interest income.
Our focus on specialized loan verticals,
with experienced lenders cultivating
client relationships to meet industry-
specific needs, has worked well
for UMB.

For example, we added $828 million
in commercial real estate and
construction loans in 2016, funding
projects such as office buildings,
senior housing, multifamily and
industrial development. We reaped
additional yield while applying
our usual risk management and
underwriting disciplines.

In addition, our lending teams have
increased discipline around pricing,
leading to better risk-adjusted returns.
While working to reduce the size of
our securities portfolio relative to
loans, we have also achieved modest
increases in yield as we reinvested
cash when older, lower-yielding
securities rolled off.

Net interest margin for 2016 was
2.88 percent, an improvement of
24 basis points from 2015. Increased
volume and a changing mix of assets
drove most of that increase, while rising
interest rates (including the impact of

the December 2016 Fed increase and
higher LIBOR rates) also benefited us.

RUNWAY FOR GROWTH
Based on strategic actions we have
taken in recent years, UMB has a long
runway for growth. Our diversified
business gives us more levers to pull
than many competitors. Three factors
hold special potential for organic
growth or expansion:

Geographic markets. For UMB Bank,
the Kansas City region is the
metropolitan area where we have our
largest presence—the No. 1 market
share, with just fewer than 20 percent
of deposits. The next two are the
Denver/Colorado Springs and St. Louis
markets, where UMB has less than a
2 percent share. In Phoenix-Scottsdale
and Dallas-Fort Worth, even after
doubling our presence, we have very
small market shares. Each of these
large markets offers us the opportunity
to achieve outsized growth. We
believe we have the right people on
the ground to compete and succeed.

Loan verticals. As I mentioned, we
have built skilled teams of specialists
with relationships in commercial real
estate and construction, aviation and
agribusiness—industries where unmet

Revenue Streams

Rev by Business Segment

Net Income Business Segment

Diverse Income Revenue Streams

Revenue by Segment

51% Net Interest Income
49% Noninterest Income

82.0% UMB Bank
10.2% UMB Fund Services
7.8% Scout Investments

customer needs create opportunities.
Combining entrepreneurial drive
with our long-standing emphasis on
prudent underwriting, we will continue
to focus on growth in these verticals.

The right products and services.
Customer relationships are our
constant focus, and we work to
ensure UMB provides a depth and
breadth of products and services
that can meet our customers’ needs.
From accounts receivable financing
to healthcare plans, and from treasury
solutions to capital markets, we can
deliver options and opportunities.

PRIORITIES FOR 2017
No question, 2017 is a time of
transitions. Post-election political
change and regulatory reforms may
accelerate U.S. economic growth.
Already influenced by the strength
of the economy, the Federal Reserve
is shifting from a “lower-for-longer”
interest rate policy to gradual
normalization. How these
macroeconomic shifts will impact
UMB is hard to quantify, but the
economic trends could be good
for lending and net interest margin.
Additionally, healthcare reform could
benefit HSA demand.

As we have always said, though, UMB
does not depend on what comes out
of Washington D.C.—or on economic
cycles—to determine our success.
Our emphasis in 2017 is to focus and
continue executing on our strategic
priorities. Among them:
• Customer experience. We continue
to focus on delivering the
unparalleled customer experience.
Our associates have the authority
to make quick decisions, are highly
accessible and go the extra mile in
service. We are also investing in
technology to upgrade the online
and mobile experience, which will
come with the side benefit of
freeing associates’ time to help
customers personally.
• Performance culture. Across the
business, we are focused on
improving operating leverage by
growing revenue and managing
expenses closely. All of our teams
are paying attention to performance
metrics including our efficiency ratio
and return on equity.
• Asset mix. We will continue to
optimize our balance sheet to improve
net interest margin. UMB’s above-
market growth in loans deploys
deposits into higher-yielding assets,
and we continue to seek incremental
risk-adjusted returns in our
securities portfolio.

At the end of 2016,
we reported record
annual net income,
which increased nearly
37 percent from 2015.

MARINER KEMPER
Chairman, UMB Bank, n.a.;
Chairman, President and
Chief Executive Officer,
UMB Financial Corporation

2016 was an interesting year for the banking
industry, with the continued low-rate outlook
turning to a more positive sentiment almost
overnight. Paired with our progress—double
digit year-over-year loan growth and continued
improvement on our profitability measures—
we are ready to take on the year ahead.

““Ten-Year Total Return
UMBF vs. SNL US Banks Index and S&P 500

$ 250

$ 200

$ 150

$ 100

$ 50

$251

$196

$101

UMBF SNL US BANKS S&P 500

This summarizes the cumulative return experienced by UMBF shareholders for the years 2007 through 2016,
compared to the S&P 500 Stock Index and the SNL US Banks Index. In all cases, the return assumes a reinvestment
of dividends. Source: SNL Financial

• Financial strength. We are committed
to effectively managing capital to
keep UMB among the strongest
U.S. financial institutions. Our capital
position provides funding for organic
business growth and potential future
acquisitions, and our focus is on
continuing to be good stewards.

on strengthening our base of services,
growing into new markets and
increasing efficiency—UMB’s future
is bright.

Thank you for your continued support.
We all look forward to delivering more
in 2017.

Sincerely,

Mariner Kemper
Chairman, UMB Bank, n.a.;
Chairman, President and
Chief Executive Officer,
UMB Financial Corporation
March 2, 2017

250

300

200

OUR PEOPLE AND CORE VALUES
At the end of the day, all this translates
to more for you. Behind all that
UMB does to create value for our
customers and shareholders are 3,688
hardworking associates across our
diverse businesses. We share core
values of integrity and respect,
appreciation of entrepreneurs and
families, and strong credit standards.
We hire the best people, and they stay
with UMB—resulting in long-tenured
associates with deep expertise.

100

150

Most trends in the 2017 business
environment are encouraging. Of
course, political and global tensions
continue to cause anxiety, but
Americans are resilient, and
entrepreneurial businesses excel
at adapting to challenges. UMB
associates embrace that same spirit.

I see daily signs that our performance
culture is progressing. We are focused

We remain focused
on loan growth,
expense control and
growing our business
in new markets,
which has positioned
us well for 2017.

MICHAEL HAGEDORN
Chairman and Chief Executive Officer,
UMB Bank n.a.; Vice Chairman,
UMB Financial Corporation

With dedicated associates across the country,
UMB Bank continues to provide meaningful
solutions and service to our customers
while improving our operational efficiency
and growth momentum.

““UMB offers a comprehensive suite of commercial,
small business and consumer banking services,
as well as full-service investment and private wealth
management capabilities.

Percent of Noninterest Income

50.4% Trust & Securities Processing
18.2% Deposit Service Charges
14.4% Bankcard Fees
4.5% Trading & Investment Banking
5.5% Other
3.7% Brokerage Fees
1.8% Gains on Securities Sales
0.9% Insurance Fees
0.6% Equity Earnings on Alternative Investment

$15.3B

Average Total Deposits

$10.0B

Average Loans

$2.4B

Loan Production

Average deposit growth
was 9.0 percent in 2016.

Average loans grew
18.6 percent in 2016.

Total gross loan production
grew 7.9 percent compared
to 2015.

Loan Composition

Deposit Composition

Loan Composition

Deposit Composition

Loan Composition

53.0% Interest-Bearing Demand

and Savings Deposits
40.2% Noninterest-Bearing

Demand Deposits

6.8% Time Deposits

42.3% Commercial & Industrial
30.0% Real Estate — Commercial
7.0% Real Estate — Construction
6.8% Real Estate — HELOC
5.2% Real Estate — Residential
2.6% Consumer Credit Card
2.1% Asset Based Loans
1.3% Other Consumer
1.4% Commercial Credit Card
1.3% Factoring Loans

Average Loans
Billions of Dollars

$10.0

$8.4

$7.0

$6.2

$5.3

During the past five years,
our average loans have grown
at a 16.0 percent compound
annual growth rate.

100

UMB Commercial Banking
UMB offers a diverse range of commercial banking solutions for discerning business customers
looking for personal attention and custom offerings. Our team is dedicated to helping clients
grow and succeed in the most efficient, healthy and profitable way possible.

Commercial Loans by Region

39.5% Kansas City
12.3% Colorado
10.9% St. Louis
9.4% Arizona

$4.8

$4.6

$4.2

7.6% Greater MO
$3.5

$3.6

5.5% Texas
5.4% Kansas
3.4% Oklahoma
2.5% Nebraska
2.2% Marquette Business Credit
12

1.3% Marquette Transportation Finance
13

Commercial & Industrial
Loans
Billions of Dollars

$4.4

$4.2

$3.9

$3.3

$2.9

$3.2

$2.7

$1.9

$1.7

$1.4

$1.85

$1.55

$1.40

$1.26

$1.17

$4.8

$4.6

$4.2

$3.6

$3.5

$4.4

$4.2

$3.9

$3.3

$2.9

Average Commercial
Deposits
Billions of Dollars

Commercial Cardholder
Purchase Volume
Billions of Dollars

Commercial Real Estate
Loans
Billions of Dollars

$4.8

$4.6

$4.2

$4.8

$3.2

$4.4

$4.6

$4.2

$2.7

$3.9

$3.6

$3.5

$3.6

$3.5

$3.3

$1.9

$1.7

$2.9

$1.4

$4.4
$1.85

$4.2

$3.9

$1.55

$1.40

$3.3
$1.26

1
$1.17
$2.9

$3.2

$2.7

$1.9

$1.7

$1.4

$1.7

$1.17

$1.4

13
12

14
13

15
14

16
15

12
12

13
13

14
14

15
15

16
16

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

2.0

1.5

1.0

0.5

0.0

3.5

5
2.0

3.0

1.5

2.5

2.0

1.5

Our relationships with our
customers are our number one
focus, and we have expanded
services to meet their varying
needs, including increasing our
capital markets and business
banking solutions.

0.5
1

0
0.0

1.0

0.0

1.0

0.5

JIM RINE
President, Western Region,
Commercial Banking

$3.2

$1.85

$2.7

$1.55

$1.40

$1.9

$1.26

$1.85

$1.55

$1.40

$1.26

$1.17

2.0

1.5

1.0

0.5

0.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

2.0

1.5

1.0

0.5

0.0

““

+43.6%

Growth in Business Banking
earning assets.

+53.5%

Healthcare Banking
loan growth.

$1.7B

Growth in total Commercial
earning assets.

The commercial division made
progress in 2016, reducing our
efficiency ratio from 62 percent
to 57 percent. In 2017, we will
maintain our focus on reducing
expenses and strengthening
our business.

CRAIG ANDERSON
President, Eastern Region,
Commercial Banking

Specialty Lending

+54.3%

Growth in actual loan balance as of
12/31/16 compared to prior year for
Marquette Transportation Finance.

+20.1%

Growth in average size of new
deals compared to 2015 for
Marquette Business Credit.

No. 23

U.S. Banks for Farm Lending.

Source: ABA, as of September 30, 2016

New business accounts
gained in 2016 for
UMB Capital Markets.

Top 25

U.S. Banks for Automated
Clearing House origination.

Source: NACHA

““UMB Personal Banking
UMB offers financial solutions to customers who value an individualized relationship
and advisory experience. For more than a century, we’ve invested in our people as a
resource who can help clients achieve their unique financial and lifestyle goals.

The difference with UMB Personal
Banking is our focus on the client.
We know every relationship is as
unique as the customers themselves,
so we provide an individualized,
advisory experience through every
stage of life.

DANA ABRAHAM
President,
Personal Banking

No. 1

Kansas City market share
leader in deposits for the
sixth year in a row at 19.6%.

Source: FDIC 2016 Market Share Report

UMB Personal Banking added
a Private Wealth Management
team in Dallas and Ft. Worth,
Texas, while also expanding
service offerings.

2.7%

Total deposit growth in
2016 for consumer and
small business.

We continue to make progress
on our banking center and
delivery channel efficiency
program which includes changes
to staffing, operating hours and
associate incentive structures.

In 2016, UMB Bank opened a
new banking center in Olathe,
Kansas which was designed
and built from the ground-up
with our customers’ experience
in mind.

““Private Wealth Management
Your Story. Our Focus.TM

Private Banking Focused
on You

Investment Management
Built for Your Needs

Personal credit and banking
solutions customized for
your financial goals and fit
for your lifestyle.

Our research-driven
investment options, backed
by experienced portfolio
managers, deliver tailored
strategies that meet your
long-term goals.

Trust and Lifestyle
Management Requires
Experience

Our advisors understand
the value of protecting and
growing your hard-earned
assets. Discover how they can
help you manage your legacy.

Managing Risk
Creates Confidence

Protect your legacy with
a comprehensive risk
management strategy that
ensures you can support
your loved ones for years
to come.

Assets Under Management by Type
Excluding Scout Investments

Assets Under Management by Business
Billions of Dollars

Excluding Scout Investments

50% Trust
32% Investment Advisory
11% Charitable
4% IRAs
4% Other

$9.5 Private Wealth, Marquette Asset

Management & Institutional

Asset Management
$3.7 Prairie Capital Management
$0.4 UMB Financial Services, Inc.

“ “

At UMB you are not just a
number like other institutions.
They take pride in knowing
their customers by name
and genuinely care about
you as a customer.

C. AND B. LAURITA
Golden, Colorado
Private Wealth Management Clients

$1.1 Billion

Total Private Wealth Management
deposits as of December 31, 2016.

+26.1%

Growth in average Private Banking
loans which increased from $519 million
in 2015 to $654 million in 2016.

UMB Institutional Banking
UMB Institutional Banking is committed to delivering solutions and performance with
integrity, and we strive to maintain the highest standard of service for our institutional
clients throughout the U.S.

Total Corporate Trusts Under Administration
and Money Market Funds
Billions of Dollars

Excluding Scout Investments

$15.5B

$14.2B

$14.5B

$13.7B

Our commitment to teamwork
is what drives us to succeed
and has enabled us to provide
our clients with the solutions
and level of service they deserve.
We look forward to continued
expansion and success in 2017.

JIM CORNELIUS
President,
Institutional Banking

$51.9B

Total of FDIC-Insured
Deposit Sweep Program
at the end of 2016.

$23.7B

Par value of bonds traded
for investment banking
in 2016.

Top 15%

In the last 10 years, UMB has
ranked as one of the country’s
top managing bank qualified
underwriters.

Source: Bloomberg

““$5.7

$5.3

$4.4

$3.0

$2.1

UMB Healthcare Services
UMB Healthcare Services provides experience and powerful processing capabilities to deliver
healthcare payment solutions, including custodial services for health savings accounts (HSAs)
and benefit cards, to our healthcare partners.

Healthcare Savings Account Deposits & Assets
Total deposits and assets increased to $1.8 billion
in 2016.

982

805

621

438

315

$642M

$431M

$1,765M

$1,292M

$918M

Total Purchase Volume
Billions of Dollars

$5.7

$1,757

$5.3

$4.4

$1,292

$918

$3.0

$642

$2.1

$431

1000

800

600

400

200

14
16

No. 5

HSA provider in the U.S. in
total number of accounts.

2000

Source: 2016 Devenir Year-end HSA
Market Statistics & Trends Report

1500

1000

+36.6%

500

Growth in assets and deposits
compared to 2015.

2000

We kept our momentum throughout
2016, ending the year with 22 percent
growth in health savings accounts,
and we will continue to provide
exceptional services to our clients
and accountholders.

1000

1500

500

BEGONYA KLUMB
Chief Executive Officer,
Healthcare Services

Health Savings Accounts
Thousands of Accounts

982

805

621

438

315

$1,765M

$5.3B

$5.7B

$4.4B

$1,292M

$3.0B

$918M

$2.1B

$642M

$431M

1000

800

600

400

200

800

600

400

200

2000

1500

1000

500

““The Fund Services team
excels at adapting in an
ever-changing market
environment. This agility
positions our operation
to take advantage of
opportunities and meet
client needs now and in
the future.

TONY FISCHER
President,
UMB Fund Services

In 2016, market challenges persisted for the asset
management industry, yet UMB Fund Services
was able to deliver year-over-year revenue
growth. Earnings were a result of performance
paired with efficiency initiatives. Moving forward,
continuous process improvements are part of
our DNA, and we’ve set the foundation for the
next stage of our growth.

““Asset Servicing
UMB Fund Services offers a broad
array of services for mutual funds
and alternative investments—as well
as turnkey solutions to help our
clients bring new products to market.

Total Assets Under Administration

Includes fund clients receiving custody services
from UMB Bank, n.a.

$191.0B

$198.3B

$185.6B

$188.7B

$156.0B

+11.5%

The number of alternative
investment funds serviced
increased from 610 in 2015
to 680 in 2016.

No. 1

Transfer agent for U.S. closed-
end mutual funds, based on
number of accounts.

Source: 2016 Mutual Fund Service Guide

+25.7%

The number of private equity
funds serviced increased by
25.7%, from 257 funds in 2015
to 323 in 2016.

Top Ten

- Transfer Agent
- Fund Accountant

Source: 2016 Mutual Fund
Service Guide

Top
Workplace

for the 7th straight year

Source: Milwaukee Journal Sentinel

Investment Managers
Series Trust Assets
Billions of Dollars

$17.0

$12.8

$11.9

$6.4

$3.4

Assets under administration in the Investment
Managers Series Trusts grew to $17 billion in 2016,
a 33% increase over 2015. We helped clients
launch 12 new mutual funds through the Trusts.

Our firm delivered strong
results in 2016 despite
significant market
headwinds starting
the year. As we continue
to focus on implementing
our investment processes,
I’m confident we can
deliver value for our clients.

ANDREW ISEMAN
Chief Executive Officer,
Scout Investments

Important Disclosures

Risk considerations: Mid-cap stocks may temporarily fall out of favor or perform poorly relative to other types of investments.
While stocks of mid-cap companies may be slightly less volatile than those of small-cap companies, they still involve substantial risk.
Real Estate Investment Trusts (REITS) may be affected by economic conditions including credit risk, interest rate risk and other
factors that affect property values, rents or occupancies of real estate. Foreign investments present additional risks due to currency
fluctuations, economic and political factors, government regulations, differences in accounting standards and other factors.
Investments in emerging markets involve even greater risks. Groups of stocks, such as value and growth, go in and out of favor,
which may cause certain funds to underperform other equity funds.

The Fund may, at times, experience higher-than-average portfolio turnover which may generate significant taxable gains and
increased trading expenses which in turn may lower the Fund’s return. Diversification does not guarantee a profit or guarantee
against a loss.

"Scout" and "Scout" design are registered service marks of UMB Financial Corporation.

The Scout Funds are distributed by UMB Distribution Services, LLC, 235 West Galena Street, Milwaukee, WI, 53212 an affiliate
of UMB Financial Corporation, and managed by Scout Investments, Inc., a subsidiary of UMB Financial Corporation.

Scout, Scout Investments - Reg U.S. Tm. Off.

NOT FDIC INSURED · MAY LOSE VALUE · NO BANK GUARANTEE

““

Scout Investments provides equity and
fixed income strategies for institutional
clients, investment professionals and
individual investors. Active investment
management expertise is at the core of
our success.

Total Assets Under Management
Billions of Dollars

Fixed Income Mutual Funds

Fixed Income Institutional & Other

Equity Institutional & Other

Equity Mutual Funds

$31.2B

$2.8B

$12.6B

$3.2B

$12.6B

$23.5B
$0.8B

$11.4B

$0.9B

$10.4B

$31.2B

$2.9B

$18.1B

$2.4B

$7.8B

$27.2B
$2.4B

$27.3B
$2.7B

$18.9B

$19.9B

$2.0B
$3.9B

$1.9B
$2.8B

Scout Equity Strategies
- International Equity
- International Equity ADR
- Emerging Markets Equity
- Global Equity
- Equity Opportunity
- Mid Cap Equity
- Small Cap Equity

Reams Fixed Income Strategies
- Ultra Low Duration
- Low Duration
- Intermediate
- Core
- Core Plus
- Long Duration
- Unconstrained

Client Assets by Type

23% Sub-Advisory
20% Mutual Funds
19% Non-Profit / Other
15% Public
15% Corporate
6% Endowment & Foundations
2% Taft-Hartley

$27.3B

Assets Under Management

Total Scout Investments
assets under management
at the end of 2016.

UMBMX Ranks #1

The Scout Mid Cap Fund ranked #1 for the 10-year period ending December 31, 2016.

For the 10-year time period ending December 31, 2016, there were 218 funds in the Lipper Mid Cap Core Classification and the Scout
Mid Cap Fund was ranked number one in the group. Lipper rankings for total return reflect the fund's historical total return performance
for 10 years relative to peers in the Lipper Mid Core category as of December 31, 2016. Lipper rankings are not intended to predict
future results and Lipper does not guarantee the accuracy of this information. Lipper Copyright 2016, Reuters, All Rights Reserved.

The Fund may have experienced negative performance during one or more of the time periods represented by the Lipper ranking shown.

Past performance is no guarantee of future results.

The Fund’s Prospectus or Summary Prospectus, which is available by calling 800.996.2862 or by visiting www.scoutinv.com, includes
investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.

See important disclosures page 22.

We delivered 10.6 percent
revenue growth in 2016
while maintaining our
commitment to efficiency
—both of which have
improved our operating
leverage.

RAM SHANKAR
Chief Financial Officer,
UMB Financial Corporation

In 2016, we made progress in optimizing our
balance sheet by shifting other earning assets
into loans, which resulted in improved net
interest margin as well as effectively managed
capital to enable profitable growth. This sets
the company up well for delivering on the
runway potential ahead of us in 2017.

““SELECTED FINANCIAL HIGHLIGHTS

Dividends Paid Per Share

Dollars

$.91

$.87

$.83

Return On Average Assets
Percentage

Return On Average Equity
Percentage

Diluted Earnings Per Share
Diluted Earnings Per Share
Dollars
Dollars

.92%

.89%

.92%

.89%

10.0%

9.8%

10.0%

9.8%

$3.20

$3.22

$3.04

$.99

$.95

.81%

.75%

.65%

7.5%

8.0%

7.5%

8.0%

$2.65

$2.44

6.4%

Return On Average Assets

Percentage

Return On Average Equity
Percentage

Diluted Earnings Per Share
Diluted Earnings Per Share
Dollars
Dollars

Dividends Paid Per Share
Dividends Paid Per Share
Dollars
Dollars

1.0

0.8

.92%

.89%

.92%

.89%

10.0%

9.8%

10.0%

9.8%

0.6

$3.20

0.6

$3.20

$3.22

$.99

$.95

$3.04

.81%

.75%

.65%

7.5%

8.0%

7.5%

8.0%

0.4

$2.65

0.4
$2.44

$2.65

$2.44

6.4%

0.2

0.0

$.91

$.87

$.83
4

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

1.0

0.8

0.6

0.4

0.2

0.0

1.0

0.8

1.0

0.8

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

0.6

0.4

0.2

0.0

SELECTED FINANCIAL HIGHLIGHTS

Five-Year Total Return
UMBF vs. SNL US Banks Index and S&P 500

$ 250

$ 200

$ 150

$100

$207

$175

$161

$185

$179

$154

$210

$177

$134

$135

$120
$116

$266

$225

$199

UMBF SNL US BANKS S&P 500

This summarizes the cumulative return experienced by UMBF shareholders for the years 2012 through 2016,
compared to the S&P 500 Stock Index and the SNL US Banks Index. In all cases, the return assumes a
reinvestment of dividends. Source: SNL Financial

UMBF Total Assets
Under Management
Billions of Dollars

$41.4

$42.8

$40.0

$41.4
$40.9

$42.8

$40.9

$40.0

$32.3

300
200

Risk-Based
Capital Ratios

12.8%

11.8%

250
150

200

100
150

100
50
13
16

15
12

9.1%

8.0%

6.0%

4.5%

4.0%

Common
Equity Tier 1
Capital

Tier 1
Common
Capital
Equity Tier 1
Capital

Total
Capital

Tier 1
Capital

Tier 1
Leverage

Total
Capital

Tier 1
Leverage

Regulatory Minimum UMB

FIVE-YEAR FINANCIAL SUMMARY

Dollars In Thousands Except Per Share Data

Earnings

Interest income
Interest expense
Net interest income
Provision for loan losses
Noninterest income
Noninterest expense
Net income

Average Balances

Assets
Loans, net of unearned interest
Securities
Interest-bearing due from banks
Deposits
Long-term debt
Shareholders’ equity

Year-End Balances

Assets
Loans, net of unearned interest
Securities
Interest-bearing due from banks
Deposits
Long-term debt
Shareholders’ equity
Nonperforming loans
Allowance for loan losses

2016

523,031
27,708
495,323
32,500
476,075
731,894
158,801

$ 19,592,685
9,992,874
7,665,012
410,163
15,338,741
81,905
1,983,749

$ 20,682,532
10,545,662
7,690,108
715,823
16,570,614
76,772
1,962,384
70,259
91,649

2015

2014

$ 430,681
18,614
412,067
15,500
466,454
703,736
116,073

363,871
13,816
350,055
17,000
498,688
665,680
120,655

$ 17,786,442
8,425,107
7,330,246
664,752
14,078,290
57,321
1,805,856

$ 15,898,983
6,975,338
7,053,837
843,134
12,691,273
6,059
1,599,765

$ 19,094,245
9,431,350
7,568,870
522,877
15,092,752
86,070
1,893,694
61,206
81,143

$ 17,500,960
7,466,418
7,285,667
1,539,386
13,616,859
8,810
1,643,758
27,382
76,140

2013

348,341
15,072
333,269
17,500
491,833
624,178
133,965

$ 15,030,762
6,221,318
7,034,542
663,818
11,930,318
4,748
1,337,107

$ 16,911,852
6,521,869
7,051,127
2,093,467
13,640,766
5,055
1,506,065
30,706
74,751

2012

$ 339,685
19,629
320,056
17,500
458,122
590,454
122,717

$ 13,389,192
5,251,278
6,528,523
547,817
10,521,658
5,879
1,258,284

$ 14,927,196
5,690,626
7,134,316
720,500
11,653,365
5,879
1,279,345
28,103
71,426

Per Share Data

Earnings - basic
Earnings - diluted
Cash dividends
Dividend payout ratio
Book value
Market price
High
Low
Close

Ratios

3.25
3.22
0.99
30.46 %
39.51

81.11
39.55
77.12

2.46
2.44
0.95
38.62 %
38.34

58.84
45.14
46.55

2.69
2.65
0.91
33.83 %

36.10

68.27
51.87
56.89

3.25
3.20
0.87
26.77 %
33.30

65.44
43.27
64.28

3.07
3.04
0.83
27.04 %
31.71

52.61
37.68
43.82

Return on average assets
Return on average equity
As a % of loans:
Allowance for loan losses
Nonperforming loans
Risk-based capital:
Common Equity Tier 1*
Tier 1
Total

Average equity to average assets

0.81 %
8.01

0.65 %
6.43

0.75 %
7.54

0.89 %
10.02

0.92 %
9.75

0.87
0.67

11.80
11.80
12.87

10.12

0.86
0.65

11.74
11.86
12.80

10.15

1.02
0.37

-
13.29
14.04

8.72

1.15
0.47

-
13.61
14.43

8.90

1.26
0.49

-
11.05
11.92

9.40

Please refer to 10-K filing for additional information.
*Common Equity Tier 1 ratio required beginning January 1, 2015 upon the company's adoption of Basel III.

CONSOLIDATED BALANCE SHEETS

Dollars in Thousands Except Per Share and Share Data

December 31,

Assets

Loans
Allowance for loan losses

Net loans

Loans held for sale
Investment securities:
Available for sale
Held to maturity (market value of $1,106,027 and $691,379 respectively)
Trading securities
Federal Reserve Bank stock and other

Total investment securities

Federal funds sold and securities purchased under agreements to resell

Interest-bearing due from banks
Cash and due from banks
Bank premises and equipment, net
Accrued income
Goodwill
Other intangibles
Other assets

Total assets

Liabilities

Deposits:
Noninterest-bearing demand
Interest-bearing demand and savings
Time deposits under $250,000
Time deposits of $250,000 or more

Total deposits

Federal funds purchased and repurchase agreements
Short-term debt
Long-term debt
Accrued expenses and taxes
Other liabilities

Total liabilities

Shareholders’ Equity

Common stock, $1.00 par value; 80,000,000 shares authorized, 55,056,730 shares
issued and 49,673,056 and 49,396,366 shares outstanding, respectively
Capital surplus
Retained earnings
Accumulated other comprehensive income
Treasury stock, 5,383,674 and 5,660,364 shares, at cost, respectively

Total shareholders' equity

Noninterest-bearing demand

Please refer to 10-K filing for additional information.

2016

2015

10,540,383
(91,649)

10,448,734

5,279

6,466,334
1,115,932
39,536
68,306

7,690,108

324,327

715,823
422,117
289,007
99,045
228,396
34,491
425,205

9,430,761
(81,143)

9,349,618

589

6,806,949
667,106
29,617
65,198

7,568,870

173,627

522,877
458,217
281,471
90,127
228,346
46,782
373,721

20,682,532

19,094,245

6,654,584
8,780,309
613,589
522,132

6,306,895
7,529,972
771,973
483,912

16,570,614

15,092,752

1,856,937
-
76,772
172,967
42,858

1,818,062
5,009
86,070
161,245
37,413

18,720,148

17,200,551

55,057
1,033,419
1,142,887
(57,542)
(211,437)

1,962,384

55,057
1,019,889
1,033,990
(3,718)
(211,524)

1,893,694

20,682,532

19,094,245

CONSOLIDATED STATEMENT OF INCOME

Dollars in Thousands Except Per Share and Share Data

Years Ended December 31,

Interest Income

Loans
Securities:
Taxable interest
Tax-exempt interest

Total securities income

Federal funds and resell agreements
Interest-bearing due from banks
Trading securities

Total interest income

Interest Expense

Deposits
Federal funds and repurchase agreements
Other

Total interest expense

Net interest income
Provision for loan losses

Net interest income after provision for loan losses

Noninterest Income

Trust and securities processing
Trading and investment banking
Service charges on deposits
Insurance fees and commissions
Brokerage fees
Bankcard fees
Gains on sales of securities available for sale
Equity earnings (loss) on alternative investments
Other

Total noninterest income

Noninterest Expense

Salaries and employee benefits
Occupancy, net
Equipment
Supplies, postage and telephone
Marketing and business development
Processing fees
Legal and consulting
Bankcard
Amortization of other intangible assets
Regulatory fees
Contingency Reserve
Other

Total noninterest expense

Income before income taxes
Income tax expense

Net Income

Per Share Data (except shares outstanding)

Net income - basic
Net income - diluted
Dividends
Weighted average shares outstanding - basic

Please refer to 10-K filing for additional information.

2016

2015

2014

386,274

$ 308,325

245,278

73,560
57,516

131,076

2,708
2,341
632

75,327
43,598

118,925

697
2,356
378

76,204
39,209

115,413

259
2,525
396

523,031

430,681

363,871

17,936
6,524
3,248

27,708

495,323
32,500

462,823

239,879
21,422
86,662
4,188
17,833
68,749
8,509
2,695
26,138

476,075

432,754
44,926
67,271
19,080
22,342
45,235
21,242
20,757
12,291
14,178
-
31,818

731,894

207,004
48,203

158,801

3.25
3.22
0.99
48,828,313

14,269
1,785
2,560

18,614

412,067
15,500

396,567

262,056
20,218
86,460
2,530
11,753
69,211
10,402
(12,188)
16,012

466,454

406,472
43,861
63,533
18,579
23,730
51,328
26,390
20,288
12,090
12,125
-
25,340

703,736

159,285
43,212

116,073

2.46
2.44
.95
47,126,252

12,242
1,616
(42)

13,816

350,055
17,000

333,055

288,054
19,398
85,299
3,011
10,761
67,250
4,127
3,975
16,813

498,688

358,569
40,197
53,609
20,411
24,148
56,049
20,407
19,594
12,193
10,445
20,272
29,786

665,680

166,063
45,408

120,655

2.69
2.65
.91
44,844,578

UMB FINANCIAL CORPORATION BOARD OF DIRECTORS

Robin C. Beery 2,4,5
Consultant,
Investment Industry Executive

Nancy K. Buese 2,5,6
Executive Vice President,
Chief Financial Officer,
Newmont Mining Corporation

Terrence P. Dunn 3
Chairman and Director,
TechAccel, LCC

K.C. Gallagher 2,5
Chairman,
Gallagher Industries, LLC;
Chief Executive Officer,
Little Pub Holdings, LLC

Gregory M. Graves 3,4
Chairman, Chief Executive
Officer and President,
Burns and McDonnell
Engineering Company, Inc.

Michael D. Hagedorn 1
President and Chief Executive
Officer, UMB Bank, n.a.;
Vice Chairman,
UMB Financial Corporation

Alexander C. Kemper
Chairman and Chief
Executive Officer,
C2FO

Mariner Kemper 6
Chairman, UMB Bank, n.a.;
Chairman, President and
Chief Executive Officer,
UMB Financial Corporation

Timothy R. Murphy 3,4
Chairman and Chief
Executive Officer,
Murphy-Hoffman Company

Kris A. Robbins 2,5,6
Principal,
KARobbins, LLC

L. Joshua Sosland 3,4
President,
Sosland Companies, Inc.

Paul Uhlmann III 3,4
President and Chief
Executive Officer,
The Uhlmann Company

Leroy J. Williams, Jr. 2,4
Chief Executive Officer,
CyberTek IQ

Thomas J. Wood III 1
Investor

To view a full list of UMB’s advisory
boards, visit UMB.com/AdvisoryBoards

1Advisory Director 2Risk Committee 3Corporate Governance & Nominating Committee 4Compensation Committee 5Corporate Audit Committee 6 Pricing Committee

UMB FINANCIAL COMMUNITY INVOLVEMENT

UMB Financial Corporation’s community involvement philosophy guides how the company
and associates invest their time and talent, and helps determine where sponsorships and
donations are made. More than any one value, UMB is dedicated to the prosperity of every
community it serves. We continuously contribute to the vibrancy and success of these
communities by supporting:

• Agriculture
• Financial Education

• Arts
• Self Sufficiency

1,112

$231K

UMB associates volunteered their
time in 2016.

Estimated economic value of UMB
associates’ volunteer hours in 2016.

Source: Independent Sector

9,809

Hours of qualified volunteer time
off in 2016.

450+

Organizations where UMB
associates volunteered.

1,528

Tons of recycled paper in 2016, saving an
estimated 36,665 trees, 34,913,306 gallons
of water, 2,935,950 pounds of solid waste,
49,736 million BTUs of energy, and
8,557,021 pounds of greenhouse gases.

The paper, paper mill and printer for
this publication are certified to meet
the strict standards of the Forest
Stewardship Council (FSC).

Printed on recycled paper.

CORPORATE INFORMATION

Notice of Annual Meeting
Tuesday, April 25, 2017
UMB Financial Corporation
1010 Grand Boulevard
Kansas City, MO 64106

10-K Request
We will furnish, without charge,
a copy of our 2016 Report
to the SEC (Form 10-K) to
any shareholder upon written
request. Please specify
Form 10-K when requesting.

Transfer Agent
Computershare Trust
Company, n.a.
P.O. Box 43078
Providence, RI 02940-3078
800.884.4225

The report and 10-K filing
will also be available online
at UMBFinancial.com.

UMB Financial Corporation
1010 Grand Boulevard
P.O. Box 419226
Kansas City, MO 64141-6226
UMBFinancial.com

Stock Quotation Symbol
UMBF
NASDAQ OMX

Investor Relations
Kay Gregory
Vice President,
Investor Relations

Financial Information
Ram Shankar
Chief Financial Officer,
UMB Financial Corporation

To contact us, please call
816.860.7000 or 800.821.2171

For other inquiries
Marketing Communication
Marketing@UMB.com

Cautionary Notice About Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be
identified by the fact that they do not relate strictly to historical or current facts. All forward-looking statements are subject to assumptions, risks, and
uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction
or guarantee about the future. Our actual future objectives, strategies, plans, prospects, performance, condition, or results may differ materially from
those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events, circumstances, or aspirations to
differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2016, our subsequent
Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the Securities and Exchange
Commission (SEC). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update
any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made. You, however,
should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent Quarterly Report on Form 10-Q,
Current Report on Form 8-K, or other applicable document that is filed or furnished with the SEC.

A FOCUS ON QUALITY

We believe quality prevails over quantity.

Our time-tested approach will always

be anchored in quality, and we will never

chase short-term earnings or growth at

the expense of our future.

UMB Financial Corporation (NASDAQ: UMBF) Credit Ratings as of 02/17/16

Credit Ratings

Long-term Issuer

Short-term / Commercial Paper

Bank Individual

Bank Support

Credit Ratings (Subsidiaries)

UMB Bank, National Association

Certificate of Deposit

Bank Individual

Bank Support

S&P

A- / Stable

Fitch

A / Stable

A-2

S&P

Fitch

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“UMB”, “COUNT ON MORE”, “SCOUT”, “SCOUT INVESTMENTS”, the UMB design logo, the UMB Count on More design logo, and the Scout design logo
– Reg. U.S. Pat. & Tm. Off. These names and design logos are registered trademarks of UMB Financial Corporation.

Count on more.

UMBFINANCIAL.COM