Contact: Mandie Nelson: 816.860.5088

Investor Relations Contact: Abby Wendel, 816.860.1685

UMB Financial Corporation Reports Record Full-Year 2011 Earnings of $106.5 Million

Kansas City, Mo. (January 24, 2012) – UMB Financial Corporation (NASDAQ: UMBF), a diversified financial holding company, announced earnings for the three months ended December 31, 2011 of $23.3 million or $0.58 per share ($0.58 diluted). This is an increase of $4.2 million, or 22.3 percent, compared to fourth quarter 2010 earnings of $19.0 million or $0.48 per share ($0.47 diluted). Earnings for the year ended December 31, 2011 were $106.5 million or $2.66 per share ($2.64 diluted). This is an increase of $15.5 million, or 17.0 percent, compared to the prior year-to-date earnings of $91.0 million or $2.27 per share ($2.26 diluted).

“2011 was a very good year for UMB,” said Mariner Kemper, Chairman and Chief Executive Officer. “With net income surpassing $100 million for the first time in the company’s history, we earned a record $106.5 million in 2011. During the past three years, we have consistently grown UMB without sacrificing credit quality or capital, and made acquisitions in what has arguably been one of the worst financial crises this country has seen in generations. Investments we’ve made in the company are paying off, and we believe these results validate our unique position as a diversified financial services company.”

Net Interest Income and Margin

Net interest income for the fourth quarter of 2011 increased $0.7 million, or 0.9 percent, compared to the same period in 2010. Average earning assets increased by $932.8 million, or 8.8 percent, compared to the fourth quarter of 2010. This increase was due to a $540.4 million, or 10.0 percent, increase in average total securities, including trading securities and a $269.3 million, or 5.8 percent, increase in average loans. Net interest margin decreased 21 basis points to 2.91 percent for the three months ended December 31, 2011 compared to the same quarter in 2010.

Noninterest income increased $3.0 million, or 3.2 percent, for the three months ended December 31, 2011 compared to the same period in 2010. This increase is primarily attributed to increased trust and securities processing income of $4.8 million, or 10.3 percent, for the three months ended December 31, 2011 compared to the same period in 2010. The increase in trust and securities processing income was primarily due to a $1.2 million, or 8.6 percent, increase in advisory fee income from the Scout Funds; a $0.7 million, or 4.1 percent, increase in fund administration and custody services; and a $2.7 million, or 50.0 percent, increase in fees related to institutional and personal investment management services. Service charges on deposits increased $1.3 million, or 7.3 percent, compared to the fourth quarter of 2010. These increases are offset by decreased trading and investment banking income of $1.5 million, or 17.0 percent, and decreased bankcard fees of $1.4 million, or 9.5 percent, compared to the three months ended December 31, 2010.

Noninterest expense increased $3.7 million, or 2.7 percent, for the three months ended December 31, 2011 compared to the same period in 2010. This increase is driven by higher salary and benefits expense of $1.7 million, or 2.3 percent, and higher other expenses of $3.6 million, or 63.4 percent. Of the increase in salary and benefits expense, approximately $0.6 million, or 36.0 percent, is related to salary and benefits from acquisitions. These increases were offset by decreases in bankcard expense of $1.3 million, or 27.6 percent, regulatory fees of $1.3 million, or 38.0 percent, and equipment expense of $1.1 million, or 9.7 percent, compared to the three months ended December 31, 2010.

“Our fee businesses continued to be a primary driver of our strong fourth quarter results and year over year earnings growth. “Our acquisitions have performed well and contributed strongly to our growth in fee income,” said Peter deSilva, President and Chief Operating Officer. “For the full year, noninterest income increased $54.0 million, or 15.0 percent, as compared to the same period in 2010. Due to uncertainties in Europe, flows slowed considerably in our flagship international product causing the Scout Funds to experience net outflows of $2.0 million for the quarter. For the full year, the Scout Funds enjoyed over $1 billion in net flows reflecting our strong long-term product performance and distribution capabilities. We closed out the year-end corporate benefits open enrollment season with strong growth in FSA and HSA accounts and balances. We ended the year with almost 2.5 million FSA and HSA accounts and nearly $300 million in deposits. We are pleased with the growth of our various fee businesses and are looking for our fee businesses to be a key driver of growth again in 2012.”

Balance Sheet

Average total assets for the three months ended December 31, 2011 were $12.5 billion compared to $11.6 billion for the same period in 2010, an increase of $984.1 million, or 8.5 percent. Average earning assets increased by $932.8 million for the period, or 8.8 percent.

Average loan balances for the three months ended December 31, 2011 increased $269.3 million, or 5.8 percent, to $4.9 billion compared to the same period in 2010. Actual loan balances on December 31, 2011 were $5.0 billion, an increase of $376.7 million, or 8.2 percent, compared to December 31, 2010. Commercial loans increased $297.8 million, or 15.4 percent, and commercial real estate increased 99.7 million, or 7.7 percent.

Nonperforming loans increased to $25.6 million on December 31, 2011 from $25.1 million on December 31, 2010. As a percentage of loans, nonperforming loans decreased to 0.52 percent as of December 31, 2011 compared to 0.55 percent on December 31, 2010. Nonperforming loans are defined as nonaccrual loans and restructured loans. By comparison, the industry median for nonperforming loans as of September 30, 2011 was 3.82 percent. The company’s allowance for loan losses totaled $72.0 million, or 1.45 percent of loans, as of December 31, 2011 compared to $74.0 million, or 1.61 percent of loans, as of December 31, 2010.

For the three months ended December 31, 2011, average securities, including trading securities, totaled $6.0 billion. This is an increase of $540.4 million, or 10.0 percent, from the same period in 2010.

Average total deposits increased $1.1 billion, or 12.1 percent, to $9.9 billion for the three months ended December 31, 2011 compared to the same period in 2010. Average noninterest-bearing demand deposits increased $916.0 million, or 31.1 percent, compared to 2010. Average interest-bearing deposits increased by $148.9 million, or 2.5 percent, in 2011 as compared to 2010. Total deposits as of December 31, 2011 were $10.2 billion, compared to $9.0 billion as of December 31, 2010, a 12.6 percent increase. Also, as of December 31, 2011, noninterest-bearing demand deposits were 38.8 percent of total deposits.

“2011 was a record year for revenue and net income at UMB,” said Mike Hagedorn, Chief Financial Officer. “Additionally, our capital increased 12.3 percent and total assets increased 9.2 percent. We are growing the company as we increase net income, a sign of the strength of our business model. We continue to position the company for long term growth even though in the short run we face a challenging rate environment.”

As of December 31, 2011, UMB had total shareholders’ equity of $1.2 billion, an increase of 12.3 percent as compared to the same period in 2010.

Dividend Declaration

The Board of Directors declared during the company’s quarterly board meeting a $0.205 quarterly cash dividend, payable on April 2, 2012, to shareholders of record at the close of business on March 9, 2012.

Year-to-Date

Earnings for the year ended December 31, 2011 were $106.5 million or $2.66 per share ($2.64 diluted). This is an increase of $15.5 million, or 17.0 percent, compared to the prior year-to-date earnings of $91.0 million or $2.27 per share ($2.26 diluted).

Net interest income for the year ended December 31, 2011 increased $6.4 million, or 2.0 percent, compared to the same period in 2010. Net interest margin decreased to 2.94 percent for the year ended December 31, 2011 as compared to 3.21 percent for the same period in 2010.

Noninterest income increased $54.0 million, or 15.0 percent, to $414.3 million for the year ended December 31, 2011 as compared to the same period in 2010. Trust and securities processing income increased $48.0 million, or 30.0 percent, for year-to-date December 31, 2011 as compared to the same period in 2010. Bankcard fees increased $5.0 million, or 9.1 percent, compared to 2010. Gains from the sale of securities available for sale of $16.1 million were recognized during the year ended December 31, 2011 compared to $8.3 million for the same period of 2010.

Noninterest expense increased $50.1 million, or 9.8 percent, for the year ended December 31, 2011 compared to the same period in 2010. Salary and employee benefit expense increased by $27.5 million, or 10.3 percent. Amortization of intangible assets increased $5.0 million, or 44.5 percent. Processing fees increased $4.5 million, or 9.9 percent. Additionally, during the second quarter, the company established a $7.8 million escrow fund to settle a class action lawsuit.

The company plans to host a conference call to discuss its 2011 fourth quarter and year-end earnings results on January 25, 2012, at 8:30 a.m. (CST). Interested parties may access the call by dialing (toll-free) 877-941-9205 or (U.S.) 480-629-9692. The live call can also be accessed by following the link

http://event.on24.com/r.htm?e=393716&s=1&k=7864611AD5EF6CE139D4FB0FA0486B25 or by visiting the

investor relations area of umb.com.

A replay of the conference call may be heard until February 8, 2012 by calling (toll-free) 800-406-7325 or (U.S.) 303-590-3030. The replay pass code required for playback is conference identification number 4503730. The call replay may also be accessed via the company's website, 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 and wealth management 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 @UMBBank.