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S&P turns UMB outlook to negative
S&P said it revised its outlook for UMB Financial Corp. and UMB Bank NA to negative from stable and affirmed their ratings.
“Our negative rating outlook on UMB primarily reflects the steady decline in the company's capital ratios over the past several years. Its S&P Global Ratings risk-adjusted capital (RAC) ratio dropped to 9.2%, below the 10% threshold we view as strong, as of Dec. 31, 2022, from 10.5% a year earlier. Similarly, its tier 1 capital ratio fell to 10.57% on March 31, 2023, and 10.62% at year-end 2022, compared with 12.05% at year-end 2021,” S&P said in a press release.
The agency warned a downgrade is possible, “if UMB does not sustainably rebuild its capital ratios, or if its better-than-peers asset quality measures weaken and move closer to industry averages.”
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