Tulsa World: FYI: Business

MAKE US YOUR HOMEPAGE | Saturday, November 21, 2009 | WIRELESS

Home > Business

Newspaper View Print this story

Comment

RSS

Bookmark

FYI: Business

By Staff and Wire Reports
Published: 10/28/2009 2:25 AM
Last Modified: 10/28/2009 5:20 AM

Earnings rise at UMB Financial

UMB Financial Corp. announced Tuesday that third-quarter earnings rose 10.2 percent.

Net income increased to $24 million, or 59 cents a diluted share, compared with $21.8 million, or 53 cents a share, in last year's third quarter.

Noninterest income increased $1.4 million, or 1.8 percent, the Kansas City, Mo.-based company reported.

Nonperforming loans — nonaccrual loans and restructured loans — increased to $22.4 million at the end of September, up from $6.9 million a year earlier.

UMB also announced an increase in its quarterly cash dividend to 18.5 cents per share, payable Jan. 4 to shareholders of record at the close of business on Dec. 11.

UMB's banking subsidiaries own and operate 135 banking centers in Oklahoma, Missouri, Illinois, Colorado, Kansas, Nebraska and Arizona.

RealtyTrac reports foreclosure rates

New data from real estate tracking service RealtyTrac estimates that Tulsa-area foreclosures hit a rate of one for every 144 homes in the third quarter, up 63.8 percent from the previous quarter and 54.3 percent from the third quarter of 2008.

However, the company noted that the numbers probably aren't accurate because the firm has significantly changed its method of data collection.

Last week RealtyTrac estimated that foreclosures for Oklahoma as a whole increased 66 percent from the previous quarter and 22 percent from the third quarter of 2008. However, that information may have also been skewed

by methodology changes, the report said.

Third-quarter foreclosures nationwide hit a rate of one for every 136 homes, an increase of 5.4 percent from the second quarter and 22.5 percent from third quarter 2008, according to RealtyTrac.

Pipeline partnership increases distribution

Williams Pipeline Partners LP announced Tuesday it has increased its third-quarter cash distribution to 33.5 cents per unit.

The new amount is a 1.5 percent increase over the second-quarter distribution of 33 cents per unit and a 6.3 percent increase over the partnership's third-quarter 2008 distribution of 31.5 cents per unit.

The distribution is payable Nov. 13 to unitholders of record at the close of business Nov. 6.

Fisker to build hybrids at idled GM plant

Luxury automaker Fisker Automotive is buying a shuttered General Motors assembly plant in Wilmington, Del., to produce plug-in hybrid electric cars, officials said Tuesday.

The Irvine, Calif.-based company has signed a letter of intent with Motors Liquidation Co., formerly known as General Motors Corp., to purchase the plant for $18 million after a four-month evaluation period.

Fisker, which has won $528.7 million in government loans to develop plug-ins, expects to spend another $175 million to refurbish the facility before production of next-generation hybrids begins in late 2012.

By Staff and Wire Reports

Newspaper View Print this story

Comment

RSS

Bookmark

Reader Comments

Show: Most Recent Comment First

Add your comment

0 comments have been made on this story so far. Tell us what you think below!

Reporting Comments

If you see a comment that violates our terms and conditions, please help us by clicking the "Report this Comment" link next to a comment. That will alert the web staff to review the comment. Thank you. -- Web Editor Jason Collington

Add Your Comment
In order to post a comment on this article, you must sign in to Tulsaworld.com. If you do not have a site account, you can create an account for free.