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UMB Financial Corporation Reports First Quarter 2011 Earnings of $30.9 Million, an Increase of 17.9 Percent

Kansas City, Mo. (April 26, 2011) – UMB Financial Corporation (NASDAQ: UMBF), a diversified financial holding company, announced earnings for the three months ended March 31, 2011 of $30.9 million or $0.77 per share ($0.76 diluted). This is an increase of $4.7 million, or 17.9 percent, compared to first quarter 2010 earnings of $26.2 million or $0.65 per share ($0.65 diluted).

“Our first quarter results demonstrate our businesses are off to a sound start in 2011, achieving another quarter of double-digit growth in revenue,” said Mariner Kemper, Chairman and Chief Executive Officer. “As expected, our acquisitions were a significant contributor to this growth, leading the 24.7 percent increase in noninterest income. Overall, our fee businesses provided 57.9 percent of our total revenue for the first quarter. End of period loans grew 8.5 percent compared to the same period a year ago, and with this steady loan growth our already strong credit quality improved further. We are proud to deliver quality earnings, without a material change in provision as seen throughout the industry. Our 17.9 percent increase in net income is the result of strong revenue growth and consistent operating results, hallmarks of our business strategy.”

Net Interest Income and Margin

Net interest income for the first quarter of 2011 increased $2.7 million, or 3.5 percent, compared to the same period in 2010. Average earning assets increased by $1.4 billion, or 14.3 percent, compared to the first quarter of 2010. This increase was due to a $914.8 million, or 19.2 percent, increase in average total securities, including trading securities. Net interest margin decreased 29 basis points to 2.9 percent for the three months ended March 31, 2011 compared to the same quarter in 2010.

Noninterest Income and Expense

Noninterest income increased $21.3 million, or 24.7 percent, for the three months ended March 31, 2011 compared to the same period in 2010. This increase is primarily attributed to increased trust and securities processing income of $16.2 million, or 45.4 percent, for the three months ended March 31, 2011 compared to the same period in 2010. The increase in trust and securities processing income was primarily due to a $4.7 million, or 45.1 percent, increase in advisory fee income from the Scout Funds, a $2.4 million, or 15.8 percent, increase in fund administration and custody services, and a $7.0 million, or 631.1 percent, increase in fees related to institutional and personal investment management services. Bankcard fees increased $2.4 million, or 20.1 percent, compared to the first

quarter of 2010 from increased processing fee income. Gains of $7.5 million on securities available for sale were recognized in the first quarter of 2011 compared to $5.4 million during the same period in 2010.

Noninterest expense increased $18.1 million, or 15.5 percent, for the three months ended March 31, 2011 compared to the same period in 2010. The primary driver of this increase is higher salary and benefits expense of $10.6 million, or 17.1 percent, due to higher base salary, commission and health insurance costs. Of this increase in salary and benefits expense, approximately $3.5 million, or 33.2 percent, is related to salary and benefits from acquisitions. Amortization of intangible assets increased $1.9 million, or 91.6 percent, compared to the first quarter of 2010. These increases are largely driven by acquisition activity in the last two quarters of 2010. Processing fees increased $1.1 million, or 10.4 percent, due primarily to fees paid by the advisor to third-party distributors of the Scout Funds. Legal and consulting increased $1.0 million, or 61.3 percent, from the same period in 2010.

“The increase in fee income is due to two primary drivers: revenue from our institutional and individual asset management businesses and from our asset servicing business,” said Peter deSilva, President and Chief Operating Officer. “Revenue from these businesses is an important component of our consistent operating results. Total company assets under management grew 107.4 percent to $28.2 billion compared to the same period last year. The assets include $9.7 billion in Scout Investments’ bond and equity mutual funds and separately managed institutional assets, $10.2 billion in fixed income assets and $8.3 billion in UMB Bank individual wealth management assets. Assets under administration in UMB Fund Services increased 21.2 percent, driving a fee income increase of 15.8 percent to $17.4 million. Finally, card purchase volume increased 26.2 percent compared to the same period last year, contributing to the increase in bankcard fees. The acquisitions completed in these businesses are delivering results; however, they also contribute to expense growth. For the first quarter, expenses related to recent acquisitions were approximately 30 percent of our total expense increase.”

Balance Sheet

Average total assets for the three months ended March 31, 2011 were $12.6 billion compared to $11.0 billion for the same period in 2010, an increase of $1.6 billion, or 14.5 percent. Average earning assets increased by $1.4 billion for the period, or 14.3 percent.

Actual loan balances on March 31, 2011 were $4.7 billion, an increase of $365.9 million, or 8.5 percent, compared to March 31, 2010. Commercial real estate loans increased $116.1 million, or 9.9 percent, and commercial loans increased $195.5 million, or 10.6 percent. Average loan balances for the three months ended March 31, 2011 increased $268.2 million, or 6.1 percent compared to the same period in 2010.

Nonperforming loans decreased to $19.2 million at March 31, 2011 from $25.4 million at March 31, 2010. As a percentage of loans, nonperforming loans decreased to 0.41 percent as of March 31, 2011 compared to 0.59 percent at March 31, 2010. Nonperforming loans are defined as nonaccrual loans and restructured loans. By comparison, the industry median for nonperforming loans as of December 31, 2010 was 4.04 percent. The company’s allowance for loan losses totaled $72.7 million, or 1.56 percent of loans, as of March 31, 2011 compared to $67.4 million, or 1.57 percent of loans, as of March 31, 2010.

For the three months ended March 31, 2011, average securities, including trading securities, totaled $5.7 billion. This is an increase of $914.8 million, or 19.2 percent, from the same period in 2010.

Average total deposits increased $1.1 billion, or 12.9 percent, to $9.5 billion for the three months ended March 31, 2011 compared to the same period in 2010. Average money market accounts increased by $789.7 million, or 47.6 percent, in 2011 as compared to 2010. Average noninterest-bearing demand deposits increased $319.7 million, or 11.6 percent, compared to 2010. Total deposits as of March 31, 2011 were $10.4 billion, compared to $8.2 billion as of March 31, 2010, a 26.2 percent increase. Also, as of March 31, 2011, noninterest-bearing demand deposits were 35.0 percent of total deposits.

“End of period deposits increased 26.2 percent,” said Mike Hagedorn, Chief Financial Officer. “This increase, combined with modest loan growth, drove the 18.5 percent increase in our investment portfolio. The deposit increase is also a reflection of the strength and stability of our balance sheet; however, this increase in deposits also creates downward pressure on net interest margin. The growth in our balance sheet demonstrates UMB’s continued ability to attract core deposits positioning us to meet all of our customers’ current and future loan needs.”

As of March 31, 2011, UMB had total shareholders’ equity of $1.1 billion, an increase of 4.8 percent over March 31, 2010.

Interested parties may access the call by dialing (toll-free) 877-941-2927 or (U.S.) 480-629-9724. The live call can also be accessed by following the link http://event.on24.com/r.htm?e=303034&s=1&k=DB4D7010EC5F5453DB94F401AB9CF7BB or by visiting the investor relations area of umb.com.

A replay of the conference call may be heard until May 12, 2011, by calling (toll-free) 800-406-7325 or (U.S.) 303-590-3030. The replay pass code required for playback is conference identification number 4430620. 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 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 Scout Investments, offering equity and fixed income investment strategies for institutions and individual investors. For more information, visit umb.com or follow us on Twitter at @UMBFinancial