- Non-covered loans and leases grew $144 million and total non-covered loan commitments increased $154 million;
- Record mortgage banking revenue of $24.3 million on closed loan volume of $621 million;
- Adjusted net interest margin (1) of 3.76% in the third quarter reflecting lower yields on non-covered loans and investment securities, and an increase in average interest bearing cash;
- Non-covered, non-performing assets continue to decline, down to 0.86% of total assets, the lowest level since the second quarter of 2007;
- Provision for non-covered loan and lease losses of $7.1 million and non-covered net charge-offs of $5.9 million, the difference resulting from growth in non-covered loans during the period;
- The allowance for non-covered credit losses ended the quarter at 1.40% of total non-covered loans and leases, reflecting the stabilized credit quality of the loan portfolio and unfunded loan commitments;
- The cost of interest bearing deposits declined 4 basis points on a sequential quarter basis to 0.43%;
- Debt Capital Markets revenue of $1.6 million;
- Tangible common equity ratio of 9.59%; and
- Total risk-based capital of 16.94%, and Tier 1 common to risk weighted asset ratio of 12.86%.
Umpqua Holdings Reports Third Quarter 2012 Results
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