UMB Financial Corporation (NASDAQ:UMBF) Q3 2024 Earnings Conference Call October 30, 2024 9:30 AM ET
Company Participants
Kay Gregory - IR
Mariner Kemper - President & CEO
Ram Shankar - CFO
Jim Rine - CEO, UMB Bank
Tom Terry - Chief Credit Officer
Conference Call Participants
Ben Gerlinger - Citi
Jared Shaw - Barclays
Timur Braziler - Wells Fargo
Nathan Race - Piper Sandler
David Long - Raymond James
Chris McGratty - KBW
Operator
Hello and welcome to the UMB Financial Third Quarter 2024 Financial Results Conference Call. My name is Harry and I'll be coordinating your call today. All lines are currently in a listen-only mode and there'll be an opportunity for Q&A after management's prepared remarks. [Operator Instructions].
It is now my pleasure to hand over to Kay Gregory, Investor Relations to begin. Please go ahead.
Kay Gregory
Good morning and welcome to our third quarter 2024 call. Mariner Kemper, Chairman and CEO; and Ram Shankar, CFO will share a few comments about our results and then we'll open the call for questions from our equity research analysts. Jim Rine, CEO of UMB Bank and Tom Terry, Chief Credit Officer will be available for the question-and-answer session.
Before we begin, let me remind you that today's presentation contains forward-looking statements, including the discussion of future financial and operating results, benefits, synergies, gains and costs that the company expects to realize from the pending acquisition, as well as other opportunities management foresees.
Forward-looking statements and any pro forma metrics are subject to assumptions, risks and uncertainties as outlined in our SEC filing and summarized on slides 48 through slides 50 of our presentation. Actual results may differ from those set forth in forward-looking statements, which would speak only as of today.
We undertake no obligation to update them except to the extent required by securities laws. Presentation materials are available online at investorrelations.umb.com and include reconciliations of non-GAAP financial measures.
Now I'll turn the call over to Mariner Kemper.
Mariner Kemper
Thank you, Kay. Good morning, everyone. Thanks for joining us as we discuss our third quarter results announced yesterday afternoon.
We had another solid quarter. With strong fee business performance and near double digit annualized loan growth driven by record top line loan production of $1.4 billion. Our line utilization has remained steady at 37% to 39% over the past several quarters and our loan pipeline remains strong heading into the fourth quarter. Overall, we're pleased with the strength of both sides of our balance sheet, as well as the robust traction in many of our fee income businesses.