BOSTON (Thomson Financial) - Shares of Umpqua Holdings Corp. extended gains
for a third consecutive session Thursday after the Portland, Ore.-based holding
company reported first-quarter net income of $24.7 million, or 41 cents a share,
topping the mean estimate of analysts polled by Thomson Financial of 26 cents a
share.
The stock climbed 9% to $16.02 on volume of 490,000 shares. As of
Wednesday's $14.70 closing price, the shares had fallen roughly 4% year-to-date.
Umpqua said non-performing assets for the quarter ended March 31 fell to
1.06% of total assets from 1.18% as of Dec. 31, 2007. Non-performing loans also
slipped in the quarter, down to 1.24% of total loans from 1.5% at the end of
December.
The company also said that as of March 31, total shareholders' equity was
$1.3 billion with a book value per share of $20.93.
Greg Saulnier
gs/vj
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