UMB Financial Corporation (NASDAQ:UMBF) Q4 2023 Results Conference Call January 31, 2024 10:00 AM ET

Company Participants

Kay Gregory - Investor Relations

Mariner Kemper - President and Chief Executive Officer

Ram Shankar - Chief Financial Officer

Jim Rine - Chief Executive Officer, UMB Bank

Tom Terry - Chief Credit Officer

Conference Call Participants

Nick Moutafakis - KBW

Nathan Race - Piper Sandler

Operator

Hello all, and welcome to UMB Financial's Fourth Quarter and Full Year 2023 Financial Results Call. My name is Lydia, and I'll be your operator today. [Operator Instructions]

I'll now hand you over to Kay Gregory with Investor Relations to begin. Please go ahead.

Kay Gregory

Good morning, and welcome to our fourth quarter 2023 call. Mariner Kemper, President and CEO; and Ram Shankar, CFO, will share a few comments about our results. Jim Rine, CEO of UMB Bank; and Tom Terry, Chief Credit Officer will also be available for the question-and-answer session.

Today's presentation contains forward-looking statements, which are subject to assumptions, risks and uncertainties. These risks are included in our SEC filings and are summarized on Slide 45 of our presentation. Actual results may differ from those set forth in forward-looking statements, which speak only as of today.

We undertake no obligation to update them except to the extent required by securities laws. All earnings per share metrics discussed on this call are on a diluted share basis, and unless otherwise indicated, comparisons are versus third quarter 2023. Net operating income discussed here and in our slides excludes the FDIC special assessment and certain other expenses and is reconciled in our press release and slide deck. Presentation materials are available online at investorrelations.umb.com.

Now, I'll turn the call over to Mariner Kemper.

Mariner Kemper

Thank you, Kay, and good morning. Before I get started, I've got to talk about some very important business by congratulating our hometown heroes, the Kansas City Chiefs, we are yet again headed to the Super Bowl in a couple of weeks. Now, I'd like to discuss our fourth quarter and full year performance for 2023, a year that played out very differently from what we were expecting and I think the rest of you are expecting last year.

During a particularly challenging period for the banking industry, UMB delivered strong results, demonstrating the power and resilience of our diversified business model. We closed out the year with a solid fourth quarter. I'll review a few highlights, and then Ram will add more detail in the Financial and Driver section.