Banking and financial services company Umpqua Holdings Corp. (UMPQ) Thursday reported a loss for the third quarter, that reflected higher provision for loan losses and increased expenses. The stock is currently trading lower by more than 5% on the Nasdaq
Net loss available to common shareholders for the third quarter was $10.38 million or $0.14 per share, compared to net profit of $12.35 million or $0.20 per share in the previous year.
On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $0.01 per share for the third quarter. Analysts' estimates typically exclude special items.
Net interest income for the quarter increased 11% to $81.76 million from $73.71 million a year ago, as total interest expense dropped 30% year-on-year.
Provision for loan and lease losses increased 47% to $52.11 million from $35.45 million in the previous year.
Total non-interest income for the quarter declined 51% to $17.92 million from $36.66 million last year primarily due to 96% lower gain on junior subordinated debentures carried at fair value. Total non-interest expense increased 17% to $68.35 million from $58.49 million a year ago due to higher FDIC assessments and hefty losses on real estate owned.
Six analysts had a common consensus revenue estimate of $99.09 million for the quarter.
Net interest margin for the third quarter of 2009 was 4.05%, compared to 4.12% in the third quarter of 2008. The company noted that the decrease in net interest margin resulted primarily from holding higher levels of interest bearing cash, which bear lower interest rates, during the third quarter of 2009, along with interest reversals on new non-accrual loans.
For the nine-month period, net loss available to common shareholders was $136.34 million or $2.10 per share, compared to an earnings of $47.06 million or $0.78 per share in the same period of the previous year. Net interest income for the period increased 9% to $236.16 million while non-interest income declined 30% to $60.49 million.
Total loans and leases at September 30, 2009 were $6.07 billion, down 1% from $6.16 billion at September 30, 2008. Total deposits improved 11% to $7.21 billion from $6.49 billion.
UMPQ is currently trading at $10.06, down 0.62 or 5.82%, on a volume of 147K shares on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.