This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Umpqua Holdings Reports Third Quarter 2012 Results

Stocks in this article: UMPQ

The allowance for non-covered credit losses increased to 1.40% of non-covered loans and leases at September 30, 2012, as compared to 1.39% of total non-covered loans and leases as of June 30, 2012 and 1.61% of total non-covered loans and leases as of September 30, 2012. The annualized net charge-off rate for the third quarter of 2012 was 0.38%. The allowance for non-covered credit losses includes the allowance for non-covered loan and lease losses and the allowance for non-covered unfunded loan commitments.

Non-covered loans past due 30 to 89 days were $28.5 million, or 0.46% of non-covered loans and leases as of September 30, 2012, as compared to $24.2 million, or 0.40% of non-covered loans and leases as of June 30, 2012, and $49.2 million, or 0.84% of non-covered loans and leases as of September 30, 2011.

Since 2007, the Company has been aggressively resolving problems arising from the current economic downturn. The following table recaps the Company’s credit quality trends since the second quarter of 2007, as it relates to the non-covered loan portfolio:

 

Credit quality trends – Non-covered loans

(Dollars in thousands)
 

Allowance for

   
    non-covered Non-covered Non-covered,
Provision for Non-covered credit losses loans non-performing
non-covered net to non-covered 30-89 days assets to
loan losses     charge-offs   loans %   past due %   total assets %
Q2 2007 $ 3,413

$

31

1.17% 0.56 % 0.59 %
Q3 2007 20,420 865 1.47% 0.99 % 0.96 %
Q4 2007 17,814 21,188 1.42% 0.64 % 1.18 %
Q1 2008 15,132 13,476 1.45% 1.13 % 1.06 %
Q2 2008 25,137 37,976 1.22% 0.31 % 1.25 %
Q3 2008 35,454 15,193 1.54% 1.16 % 1.66 %
Q4 2008 31,955 30,072 1.58% 0.96 % 1.88 %
Q1 2009 59,092 59,871 1.58% 1.47 % 1.82 %
Q2 2009 29,331 26,047 1.63% 0.80 % 1.73 %
Q3 2009 52,108 47,342 1.71% 0.76 % 1.70 %
Q4 2009 68,593 64,072 1.81% 0.69 % 2.38 %
Q1 2010 42,106 38,979 1.91% 0.93 % 1.99 %
Q2 2010 29,767 26,637 2.00% 0.70 % 1.90 %
Q3 2010 24,228 30,044 1.91% 1.41 % 1.59 %
Q4 2010 17,567 23,744 1.82% 0.85 % 1.53 %
Q1 2011 15,030 19,118 1.75% 1.25 % 1.53 %
Q2 2011 15,459 15,497 1.72% 0.76 % 1.37 %
Q3 2011 9,089 13,952 1.61% 0.84 % 1.24 %
Q4 2011 6,642 6,606 1.59% 0.60 % 1.09 %
Q1 2012 3,167 9,465 1.48% 0.35 % 1.05 %
Q2 2012 6,638 9,690 1.39% 0.40 % 1.01 %
Q3 2012   7,078     5,937 1.40% 0.46 % 0.86 %
Total $ 535,220  

$

515,802

 

Non-covered construction loan portfolio

The non-covered residential development loan segment was $64.2 million, or 1% of the total non-covered loan portfolio, as of September 30, 2012. Of this amount, $9.6 million represented non-performing loans and $18.7 million were classified as performing restructured loans. The residential development loan segment has decreased $39.5 million, or 38%, since September 30, 2011.

3 of 15

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs