Umpqua Holdings Corp. (UMPQ: Quote) announced fourth quarter 2012 net earnings available to common shareholders of $27.8 million, or $0.25 per share, up from $21.3 million, or $0.19 per share, for the same period in the prior year.
Operating earnings were $29.3 million or $0.26 per share for the fourth quarter of 2012, compared to $21.6 million, or $0.19 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share for the quarter. Analysts’ estimates typically exclude special items.
Net interest income for the quarter declined to $101.8 million from $106.6 million last year. Total non-interest income for the quarter increased to $46.9 million from $18.1 million last year.
Non-covered, non-performing assets were $88.1 million, or 0.75% of total assets, as of December 31, 2012, compared to $125.6 million, or 1.09% of total assets as of December 31, 2011.
The provision for non-covered loan losses for the fourth quarter of 2012 was $4.9 million, representing a 31% decrease from the prior quarter, and a 26% decrease from the same year-ago quarter.
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by RTT Staff Writer
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