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UMB Financial Corporation Reports Fourth Quarter 2010 Earnings of $19.0 Million and Full-Year 2010 Earnings of $91.0 Million

Kansas City, Mo. (January 26, 2011) – UMB Financial Corporation (NASDAQ: UMBF), a financial services holding company, announced earnings for the three months ended December 31, 2010 of $19.0 million or $0.48 per share ($0.47 diluted). This is a decrease of $4.8 million, or 20.2 percent, compared to fourth quarter 2009 earnings of $23.9 million or $0.59 per share ($0.59 diluted). Earnings for the year ended December 31, 2010 were $91.0 million or $2.27 per share ($2.26 diluted). This is an increase of $1.5 million, or 1.7 percent, compared to the prior year-to-date earnings of $89.5 million or $2.22 per share ($2.20 diluted).

“2010 marked another strong year with record revenue, strategic acquisitions, and consistency in earnings and balance sheet strength, demonstrating performance against our strategies as a diversified financial services company,” said Mariner Kemper, Chairman and Chief Executive Officer. “For the fourth quarter, total revenue represents a 7.7 percent increase and noninterest income increased 13.6 percent compared to the fourth quarter 2009. While expenses were up in the fourth quarter mostly due to acquisition-related expenses, we remain pleased with the performance of our multiple fee businesses. Loan balances were up 6.2 percent at the end of the quarter, and our credit quality has remained solid, even as the external environment proved challenging. As the economy improves, we expect to achieve even greater operating leverage from the investments we have made in our company. ”

Net Interest Income and Margin

Net interest income for the fourth quarter of 2010 increased $1.1 million, or 1.4 percent, compared to the same period in 2009. Average earning assets increased by $1.0 billion, or 10.9 percent, compared to the fourth quarter of 2009. This increase was due to an $821.9 million, or 17.8 percent, increase in average total securities, including trading securities. Net interest margin decreased 29 basis points to 3.12 percent for the three months ended December 31, 2010 compared to the same quarter in 2009.

Noninterest Income and Expense

Noninterest income increased $11.3 million, or 13.6 percent, for the three months ended December 31, 2010 compared to the same period in 2009. This increase is primarily attributed to increased trust

and securities processing income of $11.9 million, or 34.7 percent, for the three months ended December 31, 2010 compared to the same period in 2009. The increase in trust and securities processing income was primarily due to a $4.0 million, or 40.3 percent, increase in advisory fee income from the Scout Funds, a $1.9 million, or 12.8 percent, increase in fund administration and custody services, and a $4.1 million, or 336.1 percent, increase in fees related to institutional and personal investment management services. Bankcard fees increased $2.7 million, or 23.3 percent, compared to the fourth quarter of 2009 from increased processing fee income. Trading and investment banking fees increased $2.8 million, or 46.9 percent, for the fourth quarter compared to the same period in 2009. These increases were offset by a decrease in service charges on deposits of $3.4 million, or 16.1 percent, compared to the fourth quarter of 2009 primarily related to lower return item income of $3.5 million, or 42.3 percent. Gains of $1.0 million on securities available for sale were recognized in the fourth quarter of 2010 compared to $4.5 million during the same period in 2009.

Noninterest expense increased $18.7 million, or 15.6 percent, for the three months ended December 31, 2010 compared to the same period in 2009. The primary driver of this increase is higher salary and benefits expense of $9.3 million, or 14.8 percent, due to higher base salary, commission, and health insurance costs. Of this increase in salary and benefits expense, approximately $3.1 million, or 33.3 percent, is related to salary and benefits from acquisitions. Legal and consulting fees increased $2.2 million, or 68.1 percent, and amortization of intangible assets increased $1.6 million, or 86.8 percent, compared to the fourth quarter of 2009. These increases are largely driven by acquisition activity in 2010 compared to 2009. Business development expenses increased $1.7 million, or 42.9 percent, due to timing of various marketing campaigns during the fourth quarter of 2010 compared to 2009.

“During the fourth quarter we closed on our acquisition of Reams Asset Management, bringing Scout Investments’ assets under management to $19.8 billion and total company assets under management to $27.9 billion. Noninterest income growth continues to be driven by revenue from our asset management and asset servicing businesses, plus fee income from our card services and health care services businesses,” said Peter deSilva, President and Chief Operating Officer. “We are very pleased with the performance of these businesses and we look forward to achieving additional operating leverage in 2011.”

Balance Sheet

Average total assets for the three months ended December 31, 2010 were $11.6 billion compared to $10.3 billion for the same period in 2009, an increase of $1.2 billion, or 11.7 percent. Average earning assets increased by $1.0 billion for the period, or 10.9 percent.

Actual loan balances on December 31, 2010 were $4.6 billion, an increase of $269.0 million, or 6.2 percent, compared to 2009. Real estate loans increased $170.1 million, or 9.5 percent, due to increases in commercial real estate and home equity loans. Commercial loans increased $81.0 million, or 4.1 percent. Average loan balances for the three months ended December 31, 2010 increased $272.2 million, or 6.3 percent compared to the same period in 2009.

Nonperforming loans increased to $25.1 million at December 31, 2010 from $23.3 million at December 31, 2009. As a percentage of loans, nonperforming loans increased to 0.55 percent as of December 31, 2010 compared to 0.54 percent at December 31, 2009. Nonperforming loans are defined as nonaccrual loans and restructured loans. By comparison, the industry median for nonperforming loans as of September 30, 2010 was 4.04 percent. The company’s allowance for loan losses totaled $74.0 million, or 1.61 percent of loans as of December 31, 2010 compared to $64.1 million, or 1.49 percent of loans as of December 31, 2009.

For the three months ended December 31, 2010, average securities, including trading securities, totaled $5.4 billion. This is an increase of $821.9 million, or 17.8 percent, from the same period in 2009.

Average total deposits increased $1.0 billion, or 12.9 percent, to $8.8 billion for the three months ended December 31, 2010 compared to the same period in 2009. Average money market accounts

increased by $494.8 million, or 33.9 percent, in 2010 as compared to 2009. Average noninterest-bearing demand deposits increased $458.2 million, or 18.4 percent, compared to 2009. Total deposits as of December 31, 2010 were $9.0 billion, compared to $8.5 billion at December 31, 2009, a 5.8 percent increase. Also, as of December 31, 2010, noninterest-bearing demand deposits were 32.0 percent of total deposits.

“The growth in our balance sheet underscores our strengths and positive performance,” said Mike Hagedorn, Chief Financial Officer. “Average earning assets increased by $1.0 billion, or 10.9 percent, for the quarter. Deposits increased as well, as did equity. Increased expenses during the quarter indicate we are following our strategy to acquire quality fee businesses. More importantly, we have remained in a position to make acquisitions throughout the recent economic cycle without raising dilutive capital from external sources while maintaining strong capital ratios.”

As of December 31, 2010, UMB had total shareholders’ equity of $1.1 billion, an increase of 4.5 percent over December 31, 2009.

Year-to-Date

Earnings for the year ended December 31, 2010 were $91.0 million or $2.27 per share ($2.26 diluted). This is an increase of $1.5 million, or 1.7 percent, compared to the prior year-to-date earnings of $89.5 million or $2.22 per share ($2.20 diluted).

Net interest income for the year ended December 31, 2010 increased $7.6 million, or 2.5 percent, compared to the same period in 2009. Net interest margin decreased to 3.21 percent for the year ended December 31, 2010 as compared to 3.43 percent for the same period in 2009.

Noninterest income increased $50.2 million, or 16.2 percent, to $360.4 million for the year ended December 31, 2010 as compared to the same period in 2009. The increase is primarily attributable to higher trust and securities processing income and higher bankcard fees. Trust and securities processing income increased $39.8 million, or 33.0 percent, for year-to-date December 31, 2010 as compared to the same period in 2009. Bankcard fees increased $9.5 million, or 20.9 percent.

Noninterest expense increased $52.0 million, or 11.3 percent, for the year ended December 31, 2010 compared to the same period in 2009. Salary and employee benefit expense increased by $26.4 million, or 11.0 percent, mostly due to higher employee base salaries, higher commissions and bonuses and higher cost of benefits. Processing fees increased $10.0 million, or 28.3 percent, due to increased third-party custodian fees related to international transactions from mutual fund clients and fees paid by the advisor to third-party distributors of the Scout Funds.

The company plans to host a conference call to discuss its 2010 fourth quarter and year-end earnings results on January 26, 2011, at 8:30 a.m. (CST). Interested parties may access the call by dialing (toll-free) 877-941-6010 or (U.S.) 480-629-9772. The call can also be accessed by the Web link to the live call or by visiting the investor relations area of umb.com.

A replay of the conference call may be heard until February 5, 2011, by calling (toll-free) 800-406-7325 or (U.S.) 303-590-3030. The replay pass code required for playback is conference ID 4398639#. The call replay may also be accessed via the company's Web site, umb.com, by visiting the investor relations area.

Forward-Looking Statements:

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements rely on a number of assumptions concerning future events and are subject to risks and uncertainties, which could cause actual results to differ materially from those contemplated by the forward-looking statements in this Current Report on Form 8-K, any exhibits to this Current Report and other public statements the company may make. While management of UMB believes their assumptions are reasonable, UMB

cautions that changes in general economic conditions, changes in interest rates, changes in the securities markets, changes in operations, changes in competition, technology changes, legislative or regulatory changes, the ability of customers to repay loans, changes in loan demand, increases in employee costs, its ability to integrate acquisitions and other risks and uncertainties detailed in UMB’s filings with the Securities and Exchange Commission, may cause actual results to differ materially from those discussed in this release. UMB has no duty to update such statements, and undertakes no obligation to update or supplement forward-looking statements that become untrue because of new information, future events or otherwise.

About UMB:

UMB Financial Corporation (NASDAQ: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to commercial, institutional and personal customers nationwide. Its banking subsidiaries own and operate 128 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers. For more information, visit umb.com or follow us on Twitter at @UMBFinancial.