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Umpqua Holdings Reports 1Q Loss On Credit Costs

Stock quotes in this article: UMPQ  

PORTLAND, Ore. (AP) — Regional bank Umpqua Holdings Corp. on Thursday reported a loss for the first quarter — falling short of Wall Street's estimates — as credit costs more than tripled.

Shares dropped 68 cents, or 6.7 percent, to $9.47 in morning trading.

After paying preferred dividends, the bank reported a net loss of $13.8 million, or 23 cents per share, compared with a profit of $24.7 million, or 41 cents per share, a year earlier. ...

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