Record deposit growth, improved expense management and strong revenue gains from mortgage banking boosted Umpqua Holdings' profits in the third quarter.

The Portland, Ore., company said Wednesday that it earned $61.8 million in the quarter that ended Sept. 30, up 7% from the same period last year and 14% from three months earlier. Earnings per share climbed 8%, to 28 cents, in line with estimates of analysts polled by Bloomberg.

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