-
The $973 million-asset bank will build one of its first stand-alone branches this year in Fairway, Kan., in the metro Kansas City area. Most of Academy's 88 branches are located inside Walmart stores.
April 15 - Washington
Umpqua Holdings in Portland, Ore., plans to close 26 branches in Oregon, California, Idaho and Washington state in an effort to cut costs.
March 17 -
The Oregon company is disinclined to pursue acquisitions or buy back stock anytime soon, though it still would consider opening offices in new markets if the numbers work out.
January 28
Profits barely budged at Umpqua Holdings in Portland, Ore., even though it recorded strong consumer and other loan growth last quarter.
The $23.9 billion-asset company said Wednesday that its first-quarter net income increased about 1% from a year earlier to $47.5 million.
Net interest income rose 1% to $217.7 million while its net interest margin fell 17 basis points to 4.34%. Loans and leases increased 9% to $16.9 billion, with the consumer portfolio expanding by 34% to $554.7 million and commercial construction loans growing by 44% to $343.5 million.
Noninterest income fell by 28% to $46 million after the company recorded a $20.6 million charge related to negative fair value adjustments to its mortgage servicing rights asset.
Noninterest expenses totaled $184 million, down 4% from a year earlier, as merger-related expenses declined 76% to $3.5 million. Umpqua purchased Sterling Financial in April 2014.
