Dallas, Texas 05/02/2014 (FINANCIALSTRENDS) – Earning below market expectations
The latest financial statement released by Umpqua Holdings Corp (NASDAQ:UMPQ) showed a drop for 1Q, 2014.
The report showed that the company has reported an earnings of $0.21 per stock which is lower than the $. 22 it earned in 1Q, 2013. This was not received favourably by investors. This fall was due to a decrease in net income levels and a drop in income for non-interest items.
The overall amount available to stockholders was $187 million. This was 20% lower than 1Q, 2013. The revenues reported by UMPQ were $138 million, which is 0.4% higher than the first three months of 2013. This was due to a rise in interest income
More information on first quarter performance.
UMPQ showed a 14% increase in net interest income. The total amount was recorded at $107.8 million. It also improved its NIM by 51 bps to 4.28% in comparison to 1Q, 2013. Due to a decrease in net mortgage banking income, the non interest income fell to $23 million, which is a 32% decrease as against 1Q, 2013.
While leases increased by 11% to $7.4 billion, deposits increase by 2% to $9.3 billion as against 1Q, 2013.
Information on Credit and Capital Ratios
UMPQ saw the quality of its credit improve significantly in the first three months of this year. The non-performing assets or NPA were down to $63 million. This was a 27% reduction from the first three months of 2013. Similarly, the percentage of these assets also dropped to 0.54% as against 0.76% in 1Q, 2013.
UMPQ capital ratio on the basis of risk was at 14.69%. At the end of March last year, It was 16.76%. Common equity ratio was down to 8.67%, whereas the risk weighted asset ratio was 11% as against 12.77% as on March 31, 2013.