Franklin BSP Realty Trust President Michael Comparato Gains RSUs

The equity transactions reflect both new incentive grants and automatic share withholding tied to prior RSU vesting events.

Fourth Quarter Delivers Strong Finish

UMB closed out the year with momentum. In the fourth quarter, the company reported $209.5 million in GAAP net income available to common shareholders—up 75% from the same period last year. Operating earnings reached $235.2 million, or $3.08 per diluted share, marking a step up from the third quarter.

Total revenue came in at $720.9 million, a 66% increase over Q4 2024. Net interest income accounted for $522.5 million of that total, rising 10% from the prior quarter. Margins also improved, with net interest margin climbing to 3.29%, a 25 basis point gain from Q3.

Loan and deposit growth continued to track higher. Average loans reached $38.3 billion, up 13% quarter-over-quarter and more than 50% from the prior year. End-of-period deposits totaled $60.7 billion, supported by a steady rise in noninterest-bearing balances, which helped lower funding costs and expand margins.

Heartland Deal Expands Scale and Reach

UMB’s acquisition of Heartland Financial, completed in January 2025, played a central role in reshaping the company’s balance sheet. By year-end, total assets stood at $73.1 billion, up 45% from 2024. Average deposits rose 51.4% year-over-year, with noninterest-bearing demand deposits accounting for 25.6% of total deposits, up from 24.4% the previous quarter.

Loan growth was broad-based, with strength across commercial real estate, consumer real estate, and credit cards. Alongside organic momentum, the Heartland acquisition added meaningful scale across multiple categories.