More on Umpqua Holdings results

|About: Umpqua Holdings Corporation (UMPQ)|By:, SA News Editor

Q1 operating earnings of $56.4M or $0.26 per share vs. $59.4M and $0.27 in Q4, $23.9M and $0.21 one year ago (prior to the Sterling purchase).

Net interest income lower by $11M from Q4, helped along by a $6.4M decrease related to the Sterling credit discount accretion.

Provisions up $8.5M from Q4, driven by higher net charge offs and stronger loan growth.

Mortgage banking revenue up $11.7M from Q4.

Noninterest expense down $1.7M as synergies kick in.

Tangible book value per share of $8.88 up from $8.79 in Q4. CET1 ratio of 10.8%.

Conference call tomorrow at 1 ET

Previously: Umpqua Holdings misses by $0.02, misses on revenue (April 15)

UMPQ flat after hours.

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