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Business Segment Reporting | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Business Segment Reporting | 8. Business Segment Reporting The Company has strategically aligned its operations into the following three reportable segments: Commercial Banking, Institutional Banking, and Personal Banking (collectively, the Business Segments, and each, a Business Segment). The Company’s senior executive officers regularly evaluate the Business Segment financial results produced by the Company’s internal reporting system in deciding how to allocate resources and assess performance for individual Business Segments. For comparability purposes, amounts in all periods are based on methodologies in effect at September 30, 2022. Previously reported results have been reclassified in this Form 10-Q to conform to the Company’s current organizational structure. The following summaries provide information about the activities of each Business Segment: Commercial Banking serves the commercial banking and treasury management needs of the Company’s small to middle-market businesses through a variety of products and services. Such services include commercial loans, commercial real estate financing, commercial credit cards, letters of credit, loan syndication services, and consultative services. In addition, the Company’s specialty lending group offers a variety of business solutions including asset-based lending, mezzanine debt and minority equity investments. Treasury management services include depository services, account reconciliation and cash management tools such as, accounts payable and receivable solutions, electronic funds transfer and automated payments, controlled disbursements, lockbox services and remote deposit capture services. Institutional Banking is a combination of banking services, fund services, asset management services and healthcare services provided to institutional clients. This segment also provides fixed income sales, trading and underwriting, corporate trust and escrow services, as well as institutional custody. Institutional Banking includes UMB Fund Services, Inc., which provides fund administration and accounting, investor services and transfer agency, and other services to mutual fund and alternative investment groups. Healthcare services provides healthcare payment solutions including custodial services for health savings accounts (HSAs) and private label, multipurpose debit cards to insurance carriers, third-party administrators, software companies, employers, and financial institutions. Personal Banking combines consumer banking and wealth management services offered to clients and delivered through personal relationships and the Company’s bank branches, ATM network and internet banking. Products offered include deposit accounts, retail credit cards, installment loans, home equity lines of credit, residential mortgages, and small business loans. The range of client services extends from a basic checking account to estate planning and trust services and includes private banking, brokerage services, and insurance services in addition to a full spectrum of investment advisory, trust, and custody services. Business Segment Information Business Segment financial results for the three and nine months ended September 30, 2022 and September 30, 2021 were as follows (in thousands):
|  | Three Months Ended September 30, 2022 |
|  | Commercial Banking |  |  | Institutional Banking |  |  | Personal Banking |  |  | Total |
Net interest income |  | $ | 150,080 |  |  | $ | 43,382 |  |  | $ | 40,023 |  |  | $ | 233,485 |
Provision for credit losses |  |  | 20,156 |  |  |  | 162 |  |  |  | 1,682 |  |  |  | 22,000 |
Noninterest income |  |  | 16,785 |  |  |  | 89,386 |  |  |  | 22,552 |  |  |  | 128,723 |
Noninterest expense |  |  | 87,120 |  |  |  | 82,073 |  |  |  | 62,203 |  |  |  | 231,396 |
Income (loss) before taxes |  |  | 59,589 |  |  |  | 50,533 |  |  |  | (1,310 | ) |  |  | 108,812 |
Income tax expense (benefit) |  |  | 11,403 |  |  |  | 9,670 |  |  |  | (251 | ) |  |  | 20,822 |
Net income (loss) |  | $ | 48,186 |  |  | $ | 40,863 |  |  | $ | (1,059 | ) |  | $ | 87,990 |
Average assets |  | $ | 17,658,000 |  |  | $ | 11,999,000 |  |  | $ | 6,653,000 |  |  | $ | 36,310,000 |
|  | Three Months Ended September 30, 2021 |
|  | Commercial Banking |  |  | Institutional Banking |  |  | Personal Banking |  |  | Total |
Net interest income |  | $ | 150,871 |  |  | $ | 21,203 |  |  | $ | 37,691 |  |  | $ | 209,765 |
Provision for credit losses |  |  | (5,720 | ) |  |  | 172 |  |  |  | 548 |  |  |  | (5,000 | )
Noninterest income |  |  | 17,048 |  |  |  | 65,568 |  |  |  | 25,291 |  |  |  | 107,907 |
Noninterest expense |  |  | 78,708 |  |  |  | 73,369 |  |  |  | 56,792 |  |  |  | 208,869 |
Income before taxes |  |  | 94,931 |  |  |  | 13,230 |  |  |  | 5,642 |  |  |  | 113,803 |
Income tax expense |  |  | 16,130 |  |  |  | 2,248 |  |  |  | 958 |  |  |  | 19,336 |
Net income |  | $ | 78,801 |  |  | $ | 10,982 |  |  | $ | 4,684 |  |  | $ | 94,467 |
Average assets |  | $ | 15,766,000 |  |  | $ | 11,976,000 |  |  | $ | 8,131,000 |  |  | $ | 35,873,000 |
|  | Nine Months Ended September 30, 2022 |
|  | Commercial Banking |  |  | Institutional Banking |  |  | Personal Banking |  |  | Total |
Net interest income |  | $ | 444,176 |  |  | $ | 104,615 |  |  | $ | 119,840 |  |  | $ | 668,631 |
Provision for credit losses |  |  | 25,183 |  |  |  | 402 |  |  |  | 3,315 |  |  |  | 28,900 |
Noninterest income |  |  | 100,379 |  |  |  | 243,740 |  |  |  | 84,617 |  |  |  | 428,736 |
Noninterest expense |  |  | 246,230 |  |  |  | 234,185 |  |  |  | 179,886 |  |  |  | 660,301 |
Income before taxes |  |  | 273,142 |  |  |  | 113,768 |  |  |  | 21,256 |  |  |  | 408,166 |
Income tax expense |  |  | 51,298 |  |  |  | 21,367 |  |  |  | 3,992 |  |  |  | 76,657 |
Net income |  | $ | 221,844 |  |  | $ | 92,401 |  |  | $ | 17,264 |  |  | $ | 331,509 |
Average assets |  | $ | 17,122,000 |  |  | $ | 13,396,000 |  |  | $ | 7,148,000 |  |  | $ | 37,666,000 |
|  | Nine Months Ended September 30, 2021 |
|  | Commercial Banking |  |  | Institutional Banking |  |  | Personal Banking |  |  | Total |
Net interest income |  | $ | 430,158 |  |  | $ | 64,599 |  |  | $ | 110,194 |  |  | $ | 604,951 |
Provision for credit losses |  |  | 8,096 |  |  |  | 539 |  |  |  | 2,865 |  |  |  | 11,500 |
Noninterest income |  |  | 62,306 |  |  |  | 202,769 |  |  |  | 83,318 |  |  |  | 348,393 |
Noninterest expense |  |  | 221,883 |  |  |  | 217,257 |  |  |  | 172,013 |  |  |  | 611,153 |
Income before taxes |  |  | 262,485 |  |  |  | 49,572 |  |  |  | 18,634 |  |  |  | 330,691 |
Income tax expense |  |  | 44,584 |  |  |  | 8,419 |  |  |  | 3,166 |  |  |  | 56,169 |
Net income |  | $ | 217,901 |  |  | $ | 41,153 |  |  | $ | 15,468 |  |  | $ | 274,522 |
Average assets |  | $ | 14,987,000 |  |  | $ | 11,734,000 |  |  | $ | 7,681,000 |  |  | $ | 34,402,000 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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