- Non-covered loans and leases grew $163 million and total non-covered loan commitments increased $222 million;
- Record mortgage banking revenue of $15.6 million on closed loan volume of $489 million;
- Adjusted net interest margin (1) decreased 4 basis points to 3.96% in the second quarter primarily due to lower yields on non-covered loans and investment securities;
- Non-covered, non-performing assets continue to decline, down to 1.01% of total assets;
- Provision for non-covered loan and lease losses of $6.6 million and non-covered net charge-offs of $9.7 million, with the difference between the two primarily resulting from the decline in non-covered classified loans during the period;
- The allowance for non-covered credit losses ended the quarter at 1.39% of total non-covered loans and leases, reflecting the improved credit quality of the loan portfolio and unfunded loan commitments;
- The cost of interest bearing deposits declined 2 basis points on a sequential quarter basis to 0.47%;
- Debt Capital Markets revenue of $2.3 million;
- Tangible common equity ratio of 9.42%; and
- Total risk-based capital of 16.85%, and Tier 1 common to risk weighted asset ratio of 12.73%.
Umpqua Holdings Reports Second Quarter 2012 Results
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