UMB Financial Corporation

Hello everyone. Thank you for joining us and welcome to UMB Financial's third quarter 2026 financial results conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Kay Gregory, Investor Relations. Please go ahead.

Good morning and welcome to our third quarter 2026 call. Along with our quarterly results, we announced an acquisition to acquire Eldorado Savings Bank headquartered in California. You will note that we've posted two presentations to our website, our typical quarterly review and an overview of the announced acquisition. Chairman and CEO and Ram Shankar CFO will provide brief comments about the transaction and our results, and then we'll open the call for questions. Jim Rine, President of The Holding Company and CEO of UMB Bank, along with 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, as well as other opportunities management perceives. Actual results may differ and are subject to assumptions and risks. These risks are outlined in our FCC filings and summarized in our presentation on slide 48. Now, I'll turn the call over to Mariner Kemper.

Thank you, Kay, and good morning, everyone. I'm very excited to report both our strong third quarter results and the acquisition of Placerville, California-based Eldorado Savings Bank. In recent quarters, we've discussed our desire to build, scale, and our retail franchise by screening for well-run banks in markets where we already operate. Part of our ongoing strategy is to selectively augment our organic growth engine with tuck-in acquisitions that meet our criteria, a granular low-cost retail deposit base, low loan deposit ratio, quality credit metrics and a similar culture. El Dorado fits that description very well, strengthening our physical and brand presence on the West Coast with 35 branches across the Sacramento metro area, the Sierra Nevada foothills, in the Lake Tahoe community, and in the Reno area. The acquisition will launch us into some of the most desirable markets in both California and Nevada and will deepen our foothold in areas adjacent to our current branch network. Eldorado is ranked as the number one community bank in three markets, including the vibrant and fast-growing Lake Tahoe area, and within the top 10 in six additional markets. Our total branch count will grow to 227 across the footprint, an increase of 18%. And with the addition of Eldorado's $2.1 billion in deposits, our consumer franchise will represent approximately 26% of our total deposit base. At just 88 basis points, El Dorado's total cost of deposits in the third quarter ranks among the lowest nationwide. Additional attractive characteristics of this franchise include an 89% insured ratio, 60 million in average deposits per branch, and an average deposit account age of 14 years, excluding CDs. And with this highly liquid balance sheet and a loan to deposit ratio of just 24%, we see significant potential value as we deploy the excess liquidity. We will also be acquiring approximately $500 million in loans predominantly made up of consumer mortgages with a 39% loan to value and an average loan size of $138,000. Both banks share a culture focused on providing high-quality customer service, a strong associate experience, and support the communities we serve. We expect the transaction to close in the first quarter of 2027, subject to the approval of Eldorado shareholders and customary regulatory approvals. Ram will provide a few additional details about the transaction shortly. Now, turning to a few brief comments on the third quarter, we reported net income of $272.3 million, which resulted in earnings per share of $3.56. Balance sheet and fee income growth, strong asset quality metrics, and stable net interest margin contributed to an operating return on tangible common equity of 19.5% for the quarter. A few highlights from the quarter include Record top-line loan production of $3.1 billion, driving $1.1 billion or 11.1% linked quarter annualized growth in average loan balances. We maintained exceptional credit quality with just 13 basis points in net charge-off and an improved non-performing loan ratio of 28 basis points compared to 31 basis points in the second quarter. For comparison, the industry-wide NPL ratio for banks reported so far this quarter was a median of 53 basis points. We had continued growth and momentum in our fee businesses. Total fee income from our institutional banking business increased 3.2% from lean quarter and nearly 18% year-to-date. Specifically, fund services contributions to trusts and securities processing income grew 8.8% compared to the second quarter and more than 22% year-to-date. And corporate trusts posted a nearly 19% year-to-date increase. Additionally, Corporate Trust recently advanced in the league tables, now ranking as the number two municipal trustee in the country based on deal count. In fund services, we announced the continued expansion of ETF servicing capabilities, broadening our focus on supporting a variety of asset classes. Private wealth teams have brought in $1.2 billion in net new assets September year-to-date, already matching full-year 2025 levels. Finally, our year-to-date results have produced positive operating leverage, 11.5%. As I noted, we had extraordinary loan production in the third quarter. While we still expect a strong fourth quarter, gross production levels are likely to moderate from these record levels to be more in line with the first half of the year. On the capital front, on September 15th, we redeemed 150 million of our subordinated debt. Our quarter end CET one ratio rose by five basis points from June to 1150. Organic growth remains our top capital priority, given our long, uninterrupted track record of outperformance and growing loan balances. At the same time, we've also demonstrated our ability to evaluate and integrate acquisitions that support our organic growth, as evidenced by our successful integration of HGLF. Now I'll turn it over to Rahm for more detail.