Umpqua (UMPQ) Tops Q3 EPS by 5c

Umpqua (NASDAQ: UMPQ) reported Q3 EPS of $0.41, $0.05 better than the analyst estimate of $0.36.

“Our financial performance improved significantly during the third quarter, driven by stronger net interest income and lower core expenses,” said Cort O'Haver, president and CEO of Umpqua Holdings Corporation. “The benefits from our operational excellence initiatives are starting to take hold, with an 8% reduction in non-interest expense and a 57% quarterly efficiency ratio. Net interest income was also stronger, benefiting from a very strong core deposit quarter, along with continued growth in the loan and lease portfolio. As we continue to build on the foundation of Umpqua Next Gen, our focus remains on completing the operational excellence initiatives and continuing to advance our human digital strategy, which will drive enhanced profitability and long-term shareholder value.”

For earnings history and earnings-related data on Umpqua (UMPQ) click here.

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