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Umpqua Holdings in Portland, Ore., has agreed to buy Financial Pacific Holding in Federal Way, Wash.
June 4 -
Umpqua Holdings (UMPQ) in Portland, Ore., has agreed to buy Sterling Financial (STSA) in Spokane, Wash.
September 12 -
Umpqua Holdings in Portland, Ore., and Sterling Financial in Spokane, Wash., have set a $75 million penalty for terminating their planned merger.
September 18 -
Umpqua Holdings (UMPQ) in Portland, Ore., missed its quarterly earnings expectations because of margin pressure.
April 17
Umpqua Holdings (UMPQ) in Portland, Ore., posted lower quarterly earnings after mortgage-related fees fell.
The $11.6 billion-asset company's earnings fell 7% from a year earlier, to $23.3 million. Earnings of 21 cents per share were 3 cents below the estimates of analysts polled by Bloomberg.
During the quarter, Umpqua
Net interest income rose 5% from a year earlier, to $106 million, as Umpqua expanded lending and added FinPac's $264 million in noncovered loans and leases. FinPac's lease portfolio helped boost Umpqua's net interest margin by 25 basis points from a year earlier, to 4.23%.
Noninterest income fell 22% from a year earlier, to $26.1 million, in the face of falling mortgage revenues. Umpqua's noninterest expenses rose 10% from a year earlier, to $95.6 million, primarily because of merger-related expenses.
The loan-loss provision fell 57% from a year earlier, to $3 million. Net charge-offs declined 40% from the third quarter of last year, to $4.2 million.