UMPQUA REPORTS FOURTH QUARTER AND FULL-YEAR 2022 RESULTS

January 23, 2023

Fourth Quarter 2022 Outcomes

  • Internet revenue of $83 million, or $0.38 per widespread share
  • Working web revenue of $99 million, or $0.46 per widespread share1
  • Mortgage balances elevated $648 million or 2.5%
  • Deposit balances elevated $249 million or 0.9%
  • Internet curiosity margin elevated 13 foundation factors to 4.01%

PORTLAND, Ore., Jan. 23, 2023 /PRNewswire/ — 

UMPQUA REPORTS FOURTH QUARTER AND FULL-YEAR 2022 RESULTS

$0.38


$83


13.53 %


13.7 %

4Q22 Internet earnings per diluted
widespread share


4Q22 Internet revenue ($ in thousands and thousands)


4Q22 Return on avg tangible
widespread fairness (“ROATCE”)1


Complete risk-based capital ratio
(estimated)

CEO Commentary

“Continued progress, excellent credit score high quality, and web curiosity margin enlargement once more characterize Umpqua’s quarterly outcomes and spherical out what has been an distinctive yr for the financial institution,” stated Cort O’Haver, President and CEO. “As we sit up for our upcoming merger with Columbia Banking System, which we count on to shut on February 28, 2023, I wish to thank our groups for his or her tireless efforts over the previous 15 months. Umpqua associates’ help of one another and devoted deal with relationship banking with our clients and inside our communities is evidenced by our capacity to profitably develop the financial institution whereas concurrently planning for our transformational mixture with Columbia.”

Cort O’Haver, President and CEO of Umpqua Holdings Company

4Q22 HIGHLIGHTS (COMPARED TO 3Q22)



Internet Curiosity Revenue and NIM

•  Internet curiosity revenue elevated by $18 million or 6% on a quarter-to-quarter foundation because of the favorable affect of rising rates of interest and better common incomes asset balances.

•  Internet curiosity margin was 4.01%, up 13 foundation factors from the prior quarter. Complete deposit prices had been 46 foundation factors for the quarterly common and 66 foundation factors on December 31, 2022, in comparison with 22 foundation factors on September 30, 2022.



Non-Curiosity Revenue and Expense

•  Non-interest revenue elevated by $5.4 million as a smaller loss associated to the affect of rates of interest on truthful worth accounting and hedges was partially offset by decrease residential mortgage gain-on-sale revenue.

•  Non-interest expense elevated by $17 million due primarily to larger merger-related bills and a $4.9 million accrual for state and native enterprise taxes captured in different bills that’s not count on to repeat in future quarters.



Credit score High quality

•  Internet charge-offs had been 0.19% of common loans and leases (annualized) and centered within the FinPac portfolio.

•  Provision expense of $33 million compares to $28 million for the prior quarter.

•  Non-performing property to complete property was 0.18% in comparison with 0.16% at September 30, 2022.



Capital

•  Estimated complete risk-based capital ratio of 13.7% and estimated tier 1 risk-based capital ratio of 11.0%.

•  Declared a quarterly money dividend of $0.21 per widespread share on January 11, 2023, payable February 6, 2023, to holders of file as of January 23, 2023.



Notable objects

•  Set an anticipated merger time limit of February 28, 2023 after the shut of enterprise, topic to the satisfaction of closing circumstances.

•  Structural changes throughout the mortgage banking section continued as extra modifications had been introduced in January, inclusive of additional workers reductions.

4Q22 KEY FINANCIAL DATA







PERFORMANCE METRICS

4Q22


3Q22


4Q21

Return on common property

1.04 %


1.09 %


1.13 %

Return on common tangible widespread fairness1

13.53 %


13.02 %


12.94 %

Working return on common property1

1.24 %


1.33 %


1.23 %

Working return on common tangible widespread fairness1

16.18 %


15.90 %


14.03 %

Internet curiosity margin

4.01 %


3.88 %


3.15 %

Effectivity ratio

57.24 %


56.07 %


63.10 %

Mortgage to deposit ratio

96.64 %


95.12 %


84.80 %







INCOME STATEMENT

($ in 000s, excl. per share knowledge)

4Q22


3Q22


4Q21

Internet curiosity revenue

$305,479


$287,604


$233,379

Provision (recapture) for credit score losses

$32,948


$27,572


($736)

Non-interest revenue

$34,879


$29,445


$82,738

Non-interest expense

$194,982


$177,964


$199,711

Pre-provision web income1

$145,376


$139,085


$116,406

Working pre-provision web income1

$167,094


$163,793


$122,633

Earnings per widespread share – diluted

$0.38


$0.39


$0.41

Working earnings per widespread share – diluted1

$0.46


$0.47


$0.44

Dividends paid per share

$0.21


$0.21


$0.21







BALANCE SHEET

4Q22


3Q22


4Q21

Complete property

      $31.8B


      $31.5B


      $30.6B

Loans and leases

      $26.2B


      $25.5B


      $22.6B

Complete deposits

      $27.1B


      $26.8B


      $26.6B

Ebook worth per widespread share

$11.42


$11.14


$12.69

Tangible e book worth per share

$11.40


$11.11


$12.65

Tangible e book worth per share, ex AOCI1

$13.37


$13.18


$12.64

Steadiness Sheet

Complete consolidated property had been $31.8 billion as of December 31, 2022, in comparison with $31.5 billion as of September 30, 2022 and $30.6 billion as of December 31, 2021.  Together with secured off-balance sheet strains of credit score, complete out there liquidity was $12.0 billion as of December 31, 2022, representing 38% of complete property and 44% of complete deposits.

Gross loans and leases had been $26.2 billion as of December 31, 2022, a rise of $648 million from $25.5 billion as of September 30, 2022. Nearly all of mortgage classes and enterprise strains contributed to the quarter’s web enlargement, and new loans added to the portfolio through the fourth quarter have related underwriting traits to current mortgage classes, as our This fall 2022 Earnings Presentation particulars.

Complete deposits had been $27.1 billion as of December 31, 2022, a rise of $249 million from $26.8 billion as of September 30, 2022. The rising rate of interest setting and the affect of inflationary pressures on buyer spending contributed to a decline in non-interest bearing demand balances through the quarter that was offset by larger time balances. Brokered balances account for roughly 60% of the quarter’s progress in time balances.

Internet Curiosity Revenue

Internet curiosity revenue was $305 million for the fourth quarter of 2022, up $18 million from the prior quarter. The rise displays the favorable affect of upper rates of interest on our asset delicate steadiness sheet and better common incomes asset balances relative to the prior quarter.

The Firm’s web curiosity margin was 4.01% for the fourth quarter of 2022, up 13 foundation factors from 3.88% for the third quarter of 2022. The rise is primarily attributable to larger incomes asset yields that outpaced the rising value of interest-bearing liabilities. The price of interest-bearing deposits elevated to 0.77% for the fourth quarter of 2022 in comparison with 0.23% for the third quarter of 2022, and it was 1.07% on December 31, 2022 in comparison with 0.38% on September 30, 2022. Please consult with the This fall 2022 Earnings Presentation out there on our web site for extra web curiosity margin change particulars and rate of interest sensitivity info.

Credit score High quality

The allowance for credit score losses was $315 million, or 1.21% of loans and leases, as of December 31, 2022, in comparison with $295 million, or 1.16% of loans and leases, as of September 30, 2022.  The availability for credit score losses of $33 million for the fourth quarter of 2022 compares to a provision of $28 million for the third quarter of 2022. The present quarter’s provision displays allowance necessities for modifications between the August 2022 and November 2022 financial forecasts utilized in credit score fashions, which contributed to the quarter’s expense; mortgage portfolio combine modifications and efficiency; and new mortgage era. Please consult with the This fall 2022 Earnings Presentation out there on our web site for extra particulars associated to the allowance for credit score losses.

Internet charge-offs had been 0.19% of common loans and leases (annualized) for the fourth quarter of 2022, in comparison with 0.11% for the third quarter of 2022. The FinPac portfolio drove the linked-quarter enhance in charge-offs as exercise has begun to strategy normalized ranges after a number of quarters under its historic common. Excluding FinPac, web charge-offs had been 0.01% for the fourth quarter of 2022. As of December 31, 2022, non-performing property had been 0.18% of complete property, in comparison with 0.16% as of September 30, 2022 and 0.17% as of December 31, 2021.

Non-interest Revenue

Non-interest revenue was $35 million for the fourth quarter of 2022, up $5.4 million from the prior quarter. The rise was pushed by a decrease hostile affect from curiosity rate-related changes as a web truthful worth lack of $8.1 million within the fourth quarter associated to cumulative truthful worth changes and MSR hedging exercise compares to a web truthful worth lack of $23 million within the third quarter. The favorable variance was partially offset by decrease revenue from the origination and sale of mortgages.

As detailed in our section and non-GAAP disclosures, non-interest revenue for the Core Banking section features a truthful worth acquire of $2.1 million for the fourth quarter of 2022 in comparison with a $25 million truthful worth loss within the third quarter of 2022. Rate of interest modifications drive truthful worth changes for fairness securities, swap derivatives, and loans carried at truthful worth. The modest decline in long-term rates of interest skilled through the fourth quarter compares to the bigger enhance within the prior quarter, with the distinction within the trajectory and magnitude of the modifications accounting for the $27 million linked-quarter variance in truthful worth changes, which is captured in different revenue. Please consult with the This fall 2022 Earnings Presentation for extra particulars associated to different non-interest revenue.

Income from the origination and sale of residential mortgages was $4.3 million for the fourth quarter of 2022 in comparison with $10.5 million for the prior quarter. The linked-quarter decline displays a sequential quarter lower of $180 million or 45% in for-sale mortgage origination quantity and a decline within the residence lending acquire on sale margin to 1.96% for the fourth quarter of 2022 in comparison with 2.65% for the prior quarter. Of the present quarter’s mortgage manufacturing, 89% associated to buy exercise, in comparison with 92% for the prior quarter and 54% for a similar interval within the prior yr. Within the fourth quarter of 2022, we recorded a web write down of the MSR asset of $15 million, which features a $10 million truthful worth loss associated to mannequin inputs. We correspondingly recorded a $0.3 million loss through the quarter associated to the MSR hedges put in place in mid-August 2022. A rise within the anticipated value of escrow deposits, which isn’t hedged, was the first driver of the quarter’s decline within the MSR asset worth attributable to mannequin inputs.

Non-interest Expense

Non-interest expense was $195 million for the fourth quarter of 2022, a rise of $17 million from the prior quarter stage. The present quarter consists of $11.6 million in merger-related bills, $2.0 million in exit and disposal prices associated to retailer consolidations and back-office lease exits, and a $4.9 million accrual for state and native enterprise taxes captured in different bills that’s not count on to repeat in future quarters. Please consult with the This fall 2022 Earnings Presentation for quarterly expense change particulars.

Capital

As of December 31, 2022, the Firm’s tangible e book worth per widespread share[1] was $11.40, which compares to $11.11 at September 30, 2022 and $12.65 at December 31, 2021. Whereas rising rates of interest drove a decline within the truthful worth of available-for-sale funding securities and a rise within the truthful worth of junior subordinated debt between year-end 2021 and year-end 2022, a modest lower in rates of interest through the fourth quarter contributed to a slight reversal of those traits and the linked-quarter enhance in tangible e book worth. These truthful worth change impacts are captured in amassed different complete (loss) revenue (“AOCI”), which was $(427) million at December 31, 2022, in comparison with $(450) million at September 30, 2022 and $1.8 million at December 31, 2021. Excluding AOCI, tangible e book1 of $13.37 at December 31, 2022 compares to $13.18 and $12.64 for the linked-quarter and year-ago intervals, respectively.

AOCI has no impact on our regulatory capital ratios because the Firm opted to exclude it from our widespread fairness tier 1 capital calculations. The Firm’s estimated complete risk-based capital ratio was 13.7% and its estimated tier 1 risk-based capital ratio was 11.0% as of December 31, 2022. The Firm stays above present “well-capitalized” regulatory minimums. The regulatory capital ratios as of December 31, 2022 are estimates, pending completion and submitting of the Firm’s regulatory studies.

Section Disclosures

Section disclosures on pages 18-20 of this press launch present extra element on the Firm’s two working segments: Core Banking and Mortgage Banking.

The Core Banking section consists of all strains of enterprise, besides Mortgage Banking, together with business, retail, and personal banking, in addition to the operations, know-how, and administrative capabilities of the Financial institution and Holding Firm.  The Mortgage Banking section consists of the income earned from the manufacturing and sale of residential actual property loans, the servicing revenue from our serviced mortgage portfolio, the quarterly modifications to the MSR asset, the quarterly modifications within the MSR hedge, and the particular bills which are associated to mortgage banking actions together with variable fee bills.  Income and related bills associated to residential actual property loans held for funding are included within the Core Banking section as portfolio loans are primarily originated by the Financial institution’s retail client (retailer) and personal banking channels. Administration periodically updates the allocation strategies and assumptions throughout the present section construction.

Earnings Convention Name Info

The Firm will host its fourth quarter 2022 earnings convention name on January 24, 2023, at 10:00 a.m. PT (1:00 p.m. ET).  Through the name, the Firm will present an replace on current actions and talk about its fourth quarter 2022 monetary outcomes. Members might register for the decision utilizing the under hyperlink to obtain dial-in particulars and their very own distinctive PINs or be part of the audiocast. It’s endorsed you be part of 10 minutes previous to the beginning time.

Register for the decision: https://register.vevent.com/register/BIe0ddbff7399e4e01aaf5599b227fe00d

Be a part of the audiocast: https://edge.media-server.com/mmc/p/tvpg2iae

Entry the replay by the Firm’s investor relations web page: https://www.umpquabank.com/investor-relations/ 

About Umpqua Holdings Company

Umpqua Holdings Company (Nasdaq: UMPQ), headquartered in Lake Oswego, Oregon, is the father or mother firm of Umpqua Financial institution, an Oregon-based regional financial institution that operates in Oregon, Washington, California, Idaho, Nevada, Arizona, and Colorado. Umpqua Financial institution has been acknowledged for its progressive buyer expertise and banking technique by nationwide publications together with The Wall Avenue Journal, The New York Occasions, BusinessWeek, Quick Firm and CNBC. The corporate was named #1 in Buyer Satisfaction for the Northwest Area within the J.D. Energy 2021 U.S. Retail Banking Satisfaction ResearchSM, and Forbes constantly ranks Umpqua as one among America’s Greatest Banks. The Portland Enterprise Journal has additionally acknowledged Umpqua because the Most Admired Monetary Companies Firm in Oregon for 18 consecutive years. Along with its retail and business banking presence, Umpqua Financial institution owns Monetary Pacific Leasing, Inc., a nationally acknowledged business finance firm that gives tools leases to companies. For extra info, go to umpquabank.com.

Ahead-Wanting Statements

This press launch consists of forward-looking statements throughout the which means of the “Protected-Harbor” provisions of the Personal Securities Litigation Reform Act of 1995, which administration believes are a profit to shareholders. These statements are essentially topic to threat and uncertainty and precise outcomes may differ materially attributable to numerous threat elements, together with these set forth sometimes in our filings with the SEC. You shouldn’t place undue reliance on forward-looking statements and we undertake no obligation to replace any such statements. Ahead-looking statements might be recognized by phrases resembling “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “goal,” “initiatives,” “outlook,” “forecast,” “will,” “might,” “may,” “ought to,” “can” and related references to future intervals. On this press launch we make forward-looking statements in regards to the closing of our pending merger with Columbia Banking System, Inc. and strategic and progress initiatives. Dangers that might trigger outcomes to vary from forward-looking statements we make are set forth in our filings with the SEC and embody, with out limitation: present and future financial and market circumstances, together with the consequences of declines in housing and business actual property costs, excessive unemployment charges, inflation and any slowdown in financial progress notably within the western United States; the impact of the COVID-19 pandemic, together with on our credit score high quality and enterprise operations, in addition to its affect on normal financial and monetary market circumstances; financial forecast variables which are both materially worse or higher than finish of quarter projections and deterioration within the financial system that exceeds present consensus estimates; our capacity to successfully handle drawback credit; our capacity to efficiently implement effectivity and operational excellence initiatives; our capacity to efficiently develop and market new merchandise and know-how; modifications in legal guidelines or rules; the flexibility to finish, or any delays in finishing, the proposed transaction between us and Columbia Banking System, Inc.; any failure to comprehend the anticipated advantages of the transaction when anticipated or in any respect; sure restrictions through the pendency of the proposed transaction that will affect our capacity to pursue sure enterprise alternatives or strategic transactions; the chance that the transaction could also be dearer to finish than anticipated, together with because of sudden elements or occasions, diversion of administration’s consideration from ongoing enterprise operations and alternatives; and potential hostile reactions or modifications to enterprise or worker relationships, together with these ensuing from the completion of the transaction and integration of the businesses. We additionally warning that the quantity and timing of any future widespread inventory dividends or repurchases will depend upon the earnings, money necessities and monetary situation of the Firm, market circumstances, capital necessities, relevant regulation and rules (together with federal securities legal guidelines and federal banking rules), and different elements deemed related by the Firm’s Board of Administrators, and could also be topic to regulatory approval or circumstances.

¹ “Non-GAAP” monetary measure. See GAAP to Non-GAAP Reconciliation for the comparable GAAP measurement

TABLE INDEX


Web page

Consolidated Statements of Operations

7

Consolidated Steadiness Sheets

9

Monetary Highlights

10

Mortgage & Lease Portfolio Balances and Combine

11

Deposit Balances, Combine, and Choose Account Particulars

13

Credit score High quality – Non-performing Belongings

14

Credit score High quality – Allowance for Credit score Losses

15

Consolidated Common Steadiness Sheets, Internet Curiosity Revenue, and Yields/Charges

17

Segments

19

GAAP to Non-GAAP Reconciliation

22

Umpqua Holdings Company

Consolidated Statements of Operations

(Unaudited)














Quarter Ended


% Change

(In hundreds, besides per share knowledge)


Dec 31, 2022


Sep 30, 2022


Jun 30, 2022


Mar 31, 2022


Dec 31, 2021


Seq. Quarter


12 months over 12 months

Curiosity revenue:















Loans and leases


$     322,350


$     278,830


$     234,674


$     214,404


$     221,501


16 %


46 %

Curiosity and dividends on investments:















Taxable


18,108


18,175


17,256


18,725


16,566


— %


9 %

Exempt from federal revenue tax


1,288


1,322


1,369


1,372


1,456


(3) %


(12) %

Dividends


182


86


84


86


102


112 %


78 %

Momentary investments and curiosity bearing deposits


10,319


5,115


2,919


1,353


1,229


102 %


nm

Complete curiosity revenue


352,247


303,528


256,302


235,940


240,854


16 %


46 %

Curiosity expense:















Deposits


31,174


9,090


4,015


3,916


4,357


243 %


nm

Securities offered below settlement to repurchase and federal funds bought


323


545


66


63


48


(41) %


nm

Borrowings


8,023


798


50


49


51


nm


nm

Junior subordinated debentures


7,248


5,491


4,001


3,149


3,019


32 %


140 %

Complete curiosity expense


46,768


15,924


8,132


7,177


7,475


194 %


nm

Internet curiosity revenue


305,479


287,604


248,170


228,763


233,379


6 %


31 %

Provision (recapture) for credit score losses


32,948


27,572


18,692


4,804


(736)


19 %


nm

Non-interest revenue:















Service expenses on deposits


12,139


12,632


12,011


11,583


11,188


(4) %


9 %

Card-based charges


9,017


9,115


10,530


8,708


9,355


(1) %


(4) %

Brokerage income


25


27


27


11


31


(7) %


(19) %

Residential mortgage banking (loss) income, web


(1,812)


17,341


30,544


60,786


43,185


(110) %


(104) %

Achieve on sale of debt securities, web





2


4


nm


(100) %

Achieve (loss) on fairness securities, web


284


(2,647)


(2,075)


(2,661)


(466)


nm


nm

Achieve on mortgage and lease gross sales, web


1,531


1,525


1,303


2,337


4,816


— %


(68) %

BOLI revenue


2,033


2,023


2,110


2,087


2,101


— %


(3) %

Different revenue (loss)


11,662


(10,571)


785


(2,884)


12,524


nm


(7) %

Complete non-interest revenue


34,879


29,445


55,235


79,969


82,738


18 %


(58) %

Non-interest expense:















Salaries and worker advantages


107,982


109,164


110,942


113,138


117,477


(1) %


(8) %

Occupancy and tools, web


34,021


35,042


34,559


34,829


34,310


(3) %


(1) %

Intangible amortization


1,019


1,025


1,026


1,025


1,130


(1) %


(10) %

FDIC assessments


3,487


3,007


2,954


4,516


2,896


16 %


20 %

Merger associated bills


11,637


769


2,672


2,278


15,183


nm


(23) %

Different bills


36,836


28,957


27,421


26,644


28,715


27 %


28 %

Complete non-interest expense


194,982


177,964


179,574


182,430


199,711


10 %


(2) %

Revenue earlier than provision for revenue taxes


112,428


111,513


105,139


121,498


117,142


1 %


(4) %

Provision for revenue taxes


29,464


27,473


26,548


30,341


28,788


7 %


2 %

Internet revenue


$      82,964


$      84,040


$      78,591


$      91,157


$      88,354


(1) %


(6) %
















Weighted common primary shares excellent


217,054


217,051


217,030


216,782


216,624


— %


— %

Weighted common diluted shares excellent


217,566


217,386


217,279


217,392


217,356


— %


— %

Earnings per widespread share – primary


$          0.38


$          0.39


$          0.36


$          0.42


$          0.41


(3) %


(7) %

Earnings per widespread share – diluted


$          0.38


$          0.39


$          0.36


$          0.42


$          0.41


(3) %


(7) %
















nm = not significant















Umpqua Holdings Company

Consolidated Statements of Operations

(Unaudited)








12 months Ended


% Change

(In hundreds, besides per share knowledge)


Dec 31, 2022


Dec 31, 2021


12 months over 12 months

Curiosity revenue:







Loans and leases


$         1,050,258


$            890,515


18 %

Curiosity and dividends on investments:







Taxable


72,264


60,399


20 %

Exempt from federal revenue tax


5,351


5,947


(10) %

Dividends


438


1,318


(67) %

Momentary investments and curiosity bearing deposits


19,706


3,864


410 %

Complete curiosity revenue


1,148,017


962,043


19 %

Curiosity expense:







Deposits


48,195


27,151


78 %

Securities offered below settlement to repurchase and federal funds bought


997


280


256 %

Borrowings


8,920


2,838


214 %

Junior subordinated debentures


19,889


12,127


64 %

Complete curiosity expense


78,001


42,396


84 %

Internet curiosity revenue


1,070,016


919,647


16 %

Provision (recapture) for credit score losses


84,016


(42,651)


nm

Non-interest revenue:







Service expenses on deposits


48,365


42,086


15 %

Card-based charges


37,370


36,114


3 %

Brokerage income


90


5,112


(98) %

Residential mortgage banking income, web


106,859


186,811


(43) %

Achieve on sale of debt securities, web


2


8


(75) %

Loss on fairness securities, web


(7,099)


(1,511)


370 %

Achieve on mortgage and lease gross sales, web


6,696


15,715


(57) %

BOLI revenue


8,253


8,302


(1) %

Different (loss) revenue


(1,008)


63,681


(102) %

Complete non-interest revenue


199,528


356,318


(44) %

Non-interest expense:







Salaries and worker advantages


441,226


480,820


(8) %

Occupancy and tools, web


138,451


137,546


1 %

Intangible amortization


4,095


4,520


(9) %

FDIC assessments


13,964


9,238


51 %

Merger associated bills


17,356


15,183


14 %

Different bills


119,858


113,149


6 %

Complete non-interest expense


734,950


760,456


(3) %

Revenue earlier than provision for revenue taxes


450,578


558,160


(19) %

Provision for revenue taxes


113,826


137,860


(17) %

Internet revenue


$            336,752


$            420,300


(20) %








Weighted common primary shares excellent


216,980


219,032


(1) %

Weighted common diluted shares excellent


217,403


219,581


(1) %

Earnings per widespread share – primary


$                 1.55


$                 1.92


(19) %

Earnings per widespread share – diluted


$                 1.55


$                 1.91


(19) %








nm = not significant







Umpqua Holdings Company

Consolidated Steadiness Sheets

(Unaudited)
























% Change

(In hundreds, besides per share knowledge)

Dec 31, 2022


Sep 30, 2022


Jun 30, 2022


Mar 31, 2022


Dec 31, 2021


Seq.

Quarter


12 months over 12 months

Belongings:














Money and due from banks

$     327,313


$     321,447


$     315,348


$     307,144


$    222,015


2 %


47 %

Curiosity bearing money and non permanent investments

967,330


1,232,412


687,233


2,358,292


2,539,606


(22) %


(62) %

Funding securities:














Fairness and different, at truthful worth

72,959


72,277


75,347


78,966


81,214


1 %


(10) %

Obtainable on the market, at truthful worth

3,196,166


3,136,391


3,416,707


3,638,080


3,870,435


2 %


(17) %

Held to maturity, at amortized value

2,476


2,547


2,637


2,700


2,744


(3) %


(10) %

Loans held on the market

71,647


148,275


228,889


309,946


353,105


(52) %


(80) %

Loans and leases

26,155,981


25,507,951


24,432,678


22,975,761


22,553,180


3 %


16 %

Allowance for credit score losses on loans and leases

(301,135)


(283,065)


(261,111)


(248,564)


(248,412)


6 %


21 %

Internet loans and leases

25,854,846


25,224,886


24,171,567


22,727,197


22,304,768


2 %


16 %

Restricted fairness securities

47,144


40,993


10,867


10,889


10,916


15 %


332 %

Premises and tools, web

176,016


165,305


165,196


167,369


171,125


6 %


3 %

Working lease right-of-use property

78,598


81,729


87,249


87,333


82,366


(4) %


(5) %

Different intangible property, web

4,745


5,764


6,789


7,815


8,840


(18) %


(46) %

Residential mortgage servicing rights, at truthful worth

185,017


196,177


179,558


165,807


123,615


(6) %


50 %

Financial institution owned life insurance coverage

331,759


329,699


328,764


328,040


327,745


1 %


1 %

Deferred tax asset, web

132,823


128,120


70,134


39,051



4 %


nm

Different property

399,800


385,938


389,409


408,497


542,442


4 %


(26) %

Complete property

$  31,848,639


$  31,471,960


$  30,135,694


$  30,637,126


$  30,640,936


1 %


4 %

Liabilities:














Deposits

$  27,065,612


$  26,817,107


$  26,132,423


$  26,699,587


$  26,594,685


1 %


2 %

Securities offered below agreements to repurchase

308,769


383,569


527,961


499,539


492,247


(20) %


(37) %

Borrowings

906,175


756,214


6,252


6,290


6,329


20 %


nm

Junior subordinated debentures, at truthful worth

323,639


325,744


321,268


305,719


293,081


(1) %


10 %

Junior subordinated debentures, at amortized value

87,813


87,870


87,927


87,984


88,041


— %


— %

Working lease liabilities

91,694


95,512


101,352


101,732


95,427


(4) %


(4) %

Deferred tax legal responsibility, web





4,353


nm


(100) %

Different liabilities

585,111


588,430


440,235


328,677


317,503


(1) %


84 %

Complete liabilities

29,368,813


29,054,446


27,617,418


28,029,528


27,891,666


1 %


5 %

Shareholders’ fairness:














Frequent inventory

3,450,493


3,448,007


3,445,531


3,443,266


3,444,849


— %


— %

Accrued deficit

(543,803)


(580,933)


(619,108)


(651,912)


(697,338)


(6) %


(22) %

Accrued different complete (loss) revenue

(426,864)


(449,560)


(308,147)


(183,756)


1,759


(5) %


nm

Complete shareholders’ fairness

2,479,826


2,417,514


2,518,276


2,607,598


2,749,270


3 %


(10) %

Complete liabilities and shareholders’ fairness

$  31,848,639


$  31,471,960


$  30,135,694


$  30,637,126


$  30,640,936


1 %


4 %















Frequent shares excellent at interval finish

217,054


217,053


217,049


216,967


216,626


— %


— %

Ebook worth per widespread share

$         11.42


$         11.14


$         11.60


$         12.02


$        12.69


3 %


(10) %

Tangible e book worth per widespread share (1)

$         11.40


$         11.11


$         11.57


$         11.98


$        12.65


3 %


(10) %

Tangible fairness – widespread (1)

$  2,475,081


$  2,411,750


$  2,511,487


$  2,599,783


$ 2,740,430


3 %


(10) %

Tangible widespread fairness to tangible property (1)

7.77 %


7.66 %


8.34 %


8.49 %


8.95 %


0.11


(1.18)

nm = not significant















(1) See GAAP to Non-GAAP Reconciliation.

Umpqua Holdings Company

Monetary Highlights

(Unaudited)



Quarter Ended


% Change



Dec 31, 2022


Sep 30, 2022


Jun 30, 2022


Mar 31, 2022


Dec 31, 2021


Seq. Quarter


12 months over 12 months

Per Frequent Share Information:















Dividends


$    0.21


$    0.21


$    0.21


$    0.21


$    0.21


0 %


0 %

Ebook worth


$  11.42


$  11.14


$  11.60


$  12.02


$  12.69


3 %


(10) %

Tangible e book worth (1)


$  11.40


$  11.11


$  11.57


$  11.98


$  12.65


3 %


(10) %

Tangible e book worth, ex amassed different complete revenue (1)


$  13.37


$  13.18


$  12.99


$  12.83


$  12.64


1 %


6 %
















Efficiency Ratios:















Effectivity ratio


57.24 %


56.07 %


59.12 %


59.02 %


63.10 %


1.17


(5.86)

Pre-provision web income (PPNR) ROAA (1)


1.82 %


1.80 %


1.64 %


1.67 %


1.50 %


0.02


0.32

Return on common property (ROAA)


1.04 %


1.09 %


1.04 %


1.21 %


1.13 %


(0.05)


(0.09)

Return on common widespread fairness


13.50 %


12.99 %


12.20 %


13.62 %


12.90 %


0.51


0.60

Return on common tangible widespread fairness (1)


13.53 %


13.02 %


12.23 %


13.66 %


12.94 %


0.51


0.59
















Efficiency Ratios – Working: (1)















Working effectivity ratio (1)


52.01 %


51.72 %


58.27 %


62.02 %


59.61 %


0.29


(7.60)

Working PPNR return on common property (1)


2.10 %


2.12 %


1.66 %


1.43 %


1.58 %


(0.02)


0.52

Working return on common property (1)


1.24 %


1.33 %


1.06 %


1.03 %


1.23 %


(0.09)


0.01

Working return on common widespread fairness (1)


16.14 %


15.86 %


12.46 %


11.58 %


13.98 %


0.28


2.16

Working return on common tangible widespread fairness (1)


16.18 %


15.90 %


12.49 %


11.62 %


14.03 %


0.28


2.15
















Common Steadiness Sheet Yields, Charges, & Ratios:















Yield on loans and leases


4.92 %


4.41 %


3.94 %


3.79 %


3.94 %


0.51


0.98

Yield on incomes property (2)


4.62 %


4.10 %


3.53 %


3.24 %


3.25 %


0.52


1.37

Price of curiosity bearing deposits


0.77 %


0.23 %


0.11 %


0.10 %


0.11 %


0.54


0.66

Price of curiosity bearing liabilities


1.05 %


0.39 %


0.20 %


0.18 %


0.18 %


0.66


0.87

Price of complete deposits


0.46 %


0.14 %


0.06 %


0.06 %


0.06 %


0.32


0.40

Price of complete funding (3)


0.65 %


0.23 %


0.12 %


0.11 %


0.11 %


0.42


0.54

Internet curiosity margin (2)


4.01 %


3.88 %


3.41 %


3.14 %


3.15 %


0.13


0.86

Common curiosity bearing money / Common curiosity incomes property


3.62 %


3.04 %


5.71 %


8.92 %


10.78 %


0.58


(7.16)

Common loans and leases / Common curiosity incomes property


85.32 %


84.54 %


80.91 %


76.85 %


74.70 %


0.78


10.62

Common loans and leases / Common complete deposits


95.85 %


93.55 %


89.23 %


84.77 %


82.12 %


2.30


13.73

Common non-interest bearing deposits / Common complete deposits


40.30 %


42.29 %


42.00 %


41.35 %


41.69 %


(1.99)


(1.39)

Common complete deposits / Common complete funding (3)


94.52 %


96.34 %


96.66 %


96.82 %


96.84 %


(1.82)


(2.32)
















Choose Credit score & Capital Ratios:















Non-performing loans and leases to complete loans and leases


0.22 %


0.20 %


0.18 %


0.18 %


0.23 %


0.02


(0.01)

Non-performing property to complete property


0.18 %


0.16 %


0.15 %


0.14 %


0.17 %


0.02


0.01

Allowance for credit score losses to loans and leases


1.21 %


1.16 %


1.12 %


1.14 %


1.16 %


0.05


0.05

Complete risk-based capital ratio (4)


13.7 %


13.2 %


13.5 %


14.0 %


14.3 %


0.50


(0.60)

Frequent fairness tier 1 risk-based capital ratio (4)


11.0 %


10.7 %


11.0 %


11.4 %


11.6 %


0.30


(0.60)


(1) See GAAP to Non-GAAP Reconciliation.

(2) Tax exempt curiosity has been adjusted to a taxable equal foundation utilizing a 21% tax price.

(3) Complete funding = Complete deposits + Complete borrowings.

(4) Estimated holding firm ratios.

Umpqua Holding Company

Monetary Highlights

(Unaudited)



12 months Ended


% Change



Dec 31, 2022


Dec 31, 2021


12 months over 12 months

Per Frequent Share Information:







Dividends


$             0.84


$             0.84


— %








Efficiency Ratios:







Effectivity ratio


57.83 %


59.53 %


(1.70)

Pre-provision web income (PPNR) ROAA (1)


1.73 %


1.70 %


0.03

Return on common property (ROAA)


1.09 %


1.39 %


(0.30)

Return on common widespread fairness


13.07 %


15.56 %


(2.49)

Return on common tangible widespread fairness (1)


13.11 %


15.63 %


(2.52)








Efficiency Ratios – Working: (1)







Working effectivity ratio (1)


55.66 %


58.30 %


(2.64)

Working PPNR return on common property (1)


1.83 %


1.73 %


0.10

Working return on common property (1)


1.17 %


1.41 %


(0.24)

Working return on common widespread fairness (1)


13.97 %


15.86 %


(1.89)

Working return on common tangible widespread fairness (1)


14.00 %


15.93 %


(1.93)








Common Steadiness Sheet Yields, Charges, & Ratios:







Yield on loans and leases


4.29 %


3.99 %


0.30

Yield on incomes property (2)


3.88 %


3.33 %


0.55

Price of curiosity bearing deposits


0.31 %


0.18 %


0.13

Price of curiosity bearing liabilities


0.47 %


0.26 %


0.21

Price of complete deposits


0.18 %


0.10 %


0.08

Price of complete funding (3)


0.28 %


0.16 %


0.12

Internet curiosity margin (2)


3.62 %


3.18 %


0.44

Common curiosity bearing money / Common curiosity incomes property


5.28 %


10.15 %


(4.87)

Common loans and leases / Common curiosity incomes property


81.96 %


75.78 %


6.18

Common loans and leases / Common complete deposits


90.91 %


83.77 %


7.14

Common non-interest bearing deposits / Common complete deposits


41.48 %


40.76 %


0.72

Common complete deposits / Common complete funding (3)


96.06 %


96.25 %


(0.19)


(1) See GAAP to Non-GAAP Reconciliation.

(2) Tax exempt curiosity has been adjusted to a taxable equal foundation utilizing a 21% tax price.

(3) Complete funding = Complete deposits + Complete borrowings.

Umpqua Holdings Company

Mortgage & Lease Portfolio

(Unaudited)


















Dec 31, 2022


Sep 30, 2022


Jun 30, 2022


Mar 31, 2022


Dec 31, 2021


% Change

 ({Dollars} in hundreds)


Quantity


Quantity


Quantity


Quantity


Quantity


Seq. Quarter


12 months over 12 months

Loans and leases:















Industrial actual property:















Non-owner occupied time period, web


$ 3,894,840


$ 3,846,426


$ 3,798,242


$ 3,884,784


$ 3,786,887


1 %


3 %

Proprietor occupied time period, web


2,567,761


2,549,761


2,497,553


2,327,899


2,332,422


1 %


10 %

Multifamily, web


5,285,791


5,090,661


4,768,273


4,323,633


4,051,202


4 %


30 %

Building & growth, web


1,077,346


1,036,931


1,017,297


940,286


890,338


4 %


21 %

Residential growth, web


200,838


205,935


194,909


195,308


206,990


(2) %


(3) %

Industrial:















Time period, web (1)


3,029,547


3,003,424


2,904,861


2,772,206


3,008,473


1 %


1 %

Strains of credit score & different, web


960,054


914,507


920,604


871,483


910,733


5 %


5 %

Leases & tools finance, web


1,706,172


1,669,817


1,576,144


1,484,252


1,467,676


2 %


16 %

Residential:















Mortgage, web


5,647,035


5,470,624


5,168,457


4,748,266


4,517,266


3 %


25 %

Residence fairness loans & strains, web


1,631,965


1,565,094


1,415,722


1,250,702


1,197,170


4 %


36 %

   Shopper & different, web


154,632


154,771


170,616


176,942


184,023


— %


(16) %

Complete loans and leases, web of deferred charges and prices


$  26,155,981


$  25,507,951


$  24,432,678


$  22,975,761


$  22,553,180


3 %


16 %
















(1)  The Financial institution participated within the Paycheck Safety Program to originate SBA loans designated to assist companies keep their workforce and canopy different working capital wants through the COVID-19 pandemic. The Industrial Time period loans within the desk above embody the next web PPP mortgage balances:

Internet PPP mortgage steadiness


$        24,420


$      37,949


$    101,554


$    172,790


$    380,440


(36) %


(94) %
















Mortgage and leases combine:















Industrial actual property:















   Non-owner occupied time period, web


15 %


15 %


15 %


17 %


17 %





   Proprietor occupied time period, web


10 %


10 %


10 %


10 %


10 %





   Multifamily, web


20 %


20 %


20 %


19 %


18 %





Building & growth, web


4 %


4 %


4 %


4 %


4 %





Residential growth, web


1 %


1 %


1 %


1 %


1 %





Industrial:















Time period, web


12 %


12 %


12 %


12 %


13 %





Strains of credit score & different, web


4 %


4 %


4 %


4 %


4 %





Leases & tools finance, web


6 %


6 %


6 %


6 %


7 %





Residential:















Mortgage, web


21 %


21 %


21 %


21 %


20 %





Residence fairness loans & strains, web


6 %


6 %


6 %


5 %


5 %





   Shopper & different, web


1 %


1 %


1 %


1 %


1 %





    Complete


100 %


100 %


100 %


100 %


100 %





Umpqua Holdings Company

Deposits by Sort/Core Deposits

(Unaudited)


















Dec 31, 2022


Sep 30, 2022


Jun 30, 2022


Mar 31, 2022


Dec 31, 2021


% Change

 ({Dollars} in hundreds)


Quantity


Quantity


Quantity


Quantity


Quantity


Seq. Quarter


12 months over 12 months

Deposits:















Demand, non-interest bearing


$  10,288,849


$  11,246,358


$  11,129,209


$  11,058,251


$  11,023,724


(9) %


(7) %

Demand, curiosity bearing


4,080,469


3,903,746


3,723,650


3,955,329


3,774,937


5 %


8 %

Cash market


7,721,011


7,601,506


7,284,641


7,572,581


7,611,718


2 %


1 %

Financial savings


2,265,052


2,455,917


2,446,876


2,429,073


2,375,723


(8) %


(5) %

Time


2,710,231


1,609,580


1,548,047


1,684,353


1,808,583


68 %


50 %

Complete


$  27,065,612


$  26,817,107


$  26,132,423


$  26,699,587


$  26,594,685


1 %


2 %
















Complete core deposits (1)


$  25,616,010


$  26,292,548


$  25,619,500


$  26,140,993


$  25,964,358


(3) %


(1) %
















Deposit combine:















Demand, non-interest bearing


38 %


42 %


43 %


42 %


41 %





Demand, curiosity bearing


15 %


15 %


14 %


15 %


14 %





Cash market


29 %


28 %


28 %


28 %


29 %





Financial savings


8 %


9 %


9 %


9 %


9 %





Time


10 %


6 %


6 %


6 %


7 %





Complete


100 %


100 %


100 %


100 %


100 %




















Variety of open accounts:















Demand, non-interest bearing


430,568


434,347


434,436


428,915


428,181





Demand, curiosity bearing


57,391


56,698


57,145


63,800


66,010





Cash market


55,222


55,712


56,430


56,783


57,222





Financial savings


157,216


159,008


159,709


160,267


160,449





Time


37,424


32,202


32,103


34,127


35,665





Complete


737,821


737,967


739,823


743,892


747,527




















Common steadiness per account:















Demand, non-interest bearing


$          23.9


$          25.9


$          25.6


$          25.8


$          25.7





Demand, curiosity bearing


71.1


68.9


65.2


62.0


57.2





Cash market


139.8


136.4


129.1


133.4


133.0





Financial savings


14.4


15.4


15.3


15.2


14.8





Time


72.4


50.0


48.2


49.4


50.7





Complete


$          36.7


$          36.3


$          35.3


$          35.9


$          35.6





(1) Core deposits are outlined as complete deposits much less time deposits higher than $250,000 and all brokered deposits.


Umpqua Holdings Company


Credit score High quality – Non-performing Belongings


 (Unaudited)


Quarter Ended


% Change

({Dollars} in hundreds)

Dec 31, 2022


Sep 30, 2022


Jun 30, 2022


Mar 31, 2022


Dec 31, 2021


Seq. Quarter


12 months over 12 months

Non-performing property:














Loans and leases on non-accrual standing















Industrial actual property, web

$      5,011


$      5,403


$      5,514


$      5,950


$      5,767


(7) %


(13) %


Industrial, web

25,691


18,652


12,645


12,415


13,098


38 %


96 %


Residential, web






nm


nm


Shopper & different, web






nm


nm


Complete loans and leases on non-accrual standing

30,702


24,055


18,159


18,365


18,865


28 %


63 %

Loans and leases late 90+ days and accruing (1)















Industrial actual property, web

1


1


23


1


1


— %


— %


Industrial, web

7,909


5,143


3,311


8


4,160


54 %


90 %


Residential, web (1)

19,894


21,411


22,340


23,162


27,981


(7) %


(29) %


Shopper & different, web

134


152


196


111


194


(12) %


(31) %


Complete loans and leases late 90+ days and accruing (1)

27,938


26,707


25,870


23,282


32,336


5 %


(14) %

Complete non-performing loans and leases

58,640


50,762


44,029


41,647


51,201


16 %


15 %

Different actual property owned

203



1,868


1,868


1,868


nm


(89) %

Complete non-performing property

$    58,843


$    50,762


$    45,897


$    43,515


$    53,069


16 %


11 %















Performing restructured loans and leases

$      6,767


$      7,076


$      7,631


$      8,405


$      6,694


(4) %


1 %

Loans and leases late 31-89 days

$    64,893


$    53,538


$    34,659


$    42,409


$    31,680


21 %


105 %

Loans and leases late 31-89 days to complete loans and leases

0.25 %


0.21 %


0.14 %


0.18 %


0.14 %


0.04


0.11

Non-performing loans and leases to complete loans and leases (1)

0.22 %


0.20 %


0.18 %


0.18 %


0.23 %


0.02


(0.01)

Non-performing property to complete property (1)

0.18 %


0.16 %


0.15 %


0.14 %


0.17 %


0.02


0.01


nm = not significant














(1)  Excludes sure mortgage loans assured by Ginnie Mae, which Umpqua has the unilateral proper to repurchase however has not performed so, totaling $6.6 million, $1.0 million, and $356,000 at December 31, 2022,  September 30, 2022, and June 30, 2022, respectively.

Umpqua Holdings Company

Credit score High quality – Allowance for Credit score Losses

(Unaudited)



Quarter Ended


% Change

({Dollars} in hundreds)


Dec 31, 2022


Sep 30, 2022


Jun 30, 2022


Mar 31, 2022


Dec 31, 2021


Seq. Quarter


12 months over 12 months

Allowance for credit score losses on loans and leases (ACLLL)















Steadiness, starting of interval


$ 283,065


$ 261,111


$ 248,564


$ 248,412


$ 257,560


8 %


10 %

Provision (recapture) for credit score losses on loans and leases


30,580


28,542


18,787


5,696


(1,751)


7 %


nm

Cost-offs
















Industrial actual property, web


(128)



(8)



(58)


nm


121 %


Industrial, web


(14,721)


(9,459)


(9,035)


(7,858)


(10,197)


56 %


44 %


Residential, web


(53)


(4)



(167)



nm


nm


Shopper & different, web


(906)


(929)


(836)


(885)


(675)


(2) %


34 %


Complete charge-offs


(15,808)


(10,392)


(9,879)


(8,910)


(10,930)


52 %


45 %

Recoveries
















Industrial actual property, web


163


123


73


25


56


33 %


191 %


Industrial, web


2,708


2,842


2,934


2,545


2,585


(5) %


5 %


Residential, web


24


249


216


173


326


(90) %


(93) %


Shopper & different, web


403


590


416


623


566


(32) %


(29) %


Complete recoveries


3,298


3,804


3,639


3,366


3,533


(13) %


(7) %

Internet (charge-offs) recoveries
















Industrial actual property, web


35


123


65


25


(2)


(72) %


nm


Industrial, web


(12,013)


(6,617)


(6,101)


(5,313)


(7,612)


82 %


58 %


Residential, web


(29)


245


216


6


326


(112) %


(109) %


Shopper & different, web


(503)


(339)


(420)


(262)


(109)


48 %


361 %


Complete charge-offs


(12,510)


(6,588)


(6,240)


(5,544)


(7,397)


90 %


69 %

Steadiness, finish of interval


$ 301,135


$ 283,065


$ 261,111


$ 248,564


$ 248,412


6 %


21 %

Reserve for unfunded commitments















Steadiness, starting of interval


$   11,853


$   12,823


$   12,918


$   12,767


$   11,752


(8) %


1 %

Provision (recapture) for credit score losses on unfunded commitments


2,368


(970)


(95)


151


1,015


nm


133 %

Steadiness, finish of interval


14,221


11,853


12,823


12,918


12,767


20 %


11 %

Complete Allowance for credit score losses (ACL)


$ 315,356


$ 294,918


$ 273,934


$ 261,482


$ 261,179


7 %


21 %

















Internet charge-offs to common loans and leases (annualized)


0.19 %


0.11 %


0.11 %


0.10 %


0.13 %


0.08


0.06

Recoveries to gross charge-offs


20.86 %


36.61 %


36.84 %


37.78 %


32.32 %


(15.75)


(11.46)

ACLLL to loans and leases


1.15 %


1.11 %


1.07 %


1.08 %


1.10 %


0.04


0.05

ACL to loans and leases


1.21 %


1.16 %


1.12 %


1.14 %


1.16 %


0.05


0.05

Umpqua Holdings Company

Credit score High quality – Allowance for Credit score Losses

(Unaudited)




12 months Ended


% Change

({Dollars} in hundreds)


Dec 31, 2022


Dec 31, 2021


12 months over 12 months

Allowance for credit score losses on loans and leases (ACLLL)







Steadiness, starting of interval


$        248,412


$        328,401


(24) %

Provision (recapture) for credit score losses on loans and leases


83,605


(35,132)


nm

Cost-offs








Industrial actual property, web


(136)


(1,144)


(88) %


Industrial, web


(41,073)


(54,425)


(25) %


Residential, web


(224)


(70)


220 %


Shopper & different, web


(3,556)


(3,658)


(3) %


Complete charge-offs


(44,989)


(59,297)


(24) %

Recoveries








Industrial actual property, web


384


645


(40) %


Industrial, web


11,029


10,703


3 %


Residential, web


662


924


(28) %


Shopper & different, web


2,032


2,168


(6) %


Complete recoveries


14,107


14,440


(2) %

Internet (charge-offs) recoveries








Industrial actual property, web


248


(499)


nm


Industrial, web


(30,044)


(43,722)


(31) %


Residential, web


438


854


(49) %


Shopper & different, web


(1,524)


(1,490)


2 %


Complete charge-offs


(30,882)


(44,857)


(31) %

Steadiness, finish of interval


$        301,135


$        248,412


21 %

Reserve for unfunded commitments







Steadiness, starting of interval


$          12,767


$          20,286


(37) %

Provision (recapture) for credit score losses on unfunded commitments


1,454


(7,519)


nm

Steadiness, finish of interval


14,221


12,767


11 %

Complete Allowance for credit score losses (ACL)


$        315,356


$        261,179


21 %









Internet charge-offs to common loans and leases


0.13 %


0.20 %


(0.07)

Recoveries to gross charge-offs


31.36 %


24.35 %


7.01

nm = not significant







Umpqua Holdings Company
Common Charges and Balances

(Unaudited)


Quarter Ended


December 31, 2022


September 30, 2022


December 31, 2021

({Dollars} in hundreds)

Common Steadiness


Curiosity Revenue or Expense


Common Yields or Charges


Common Steadiness


Curiosity Revenue or Expense


Common Yields or Charges


Common Steadiness


Curiosity Revenue or Expense


Common Yields or Charges

INTEREST-EARNING ASSETS:


















Loans held on the market

$     110,850


$    1,603


5.79 %


$     173,397


$    2,205


5.09 %


$     366,043


$    2,907


3.18 %

Loans and leases (1)

25,855,556


320,747


4.92 %


24,886,203


276,625


4.41 %


22,098,818


218,594


3.94 %

Taxable securities

3,042,044


18,290


2.40 %


3,271,185


18,261


2.23 %


3,681,650


16,668


1.81 %

Non-taxable securities (2)

200,825


1,571


3.13 %


212,847


1,651


3.10 %


247,183


1,831


2.96 %

Momentary investments and interest-bearing money

1,095,854


10,319


3.74 %


893,471


5,115


2.27 %


3,190,380


1,229


0.15 %

Complete interest-earning property

30,305,129


$  352,530


4.62 %


29,437,103


$  303,857


4.10 %


29,584,074


$  241,229


3.25 %

Different property

1,332,361






1,231,074






1,302,304





Complete property

$  31,637,490






$  30,668,177






$  30,886,378





INTEREST-BEARING LIABILITIES:


















Curiosity-bearing demand deposits

$  4,005,643


$    5,372


0.53 %


$  3,829,688


$    1,705


0.18 %


$  3,765,212


$       524


0.06 %

Cash market deposits

7,651,974


17,473


0.91 %


7,550,791


5,817


0.31 %


7,717,844


1,448


0.07 %

Financial savings deposits

2,345,564


226


0.04 %


2,468,187


250


0.04 %


2,342,865


206


0.03 %

Time deposits

2,100,803


8,103


1.53 %


1,501,724


1,318


0.35 %


1,864,949


2,179


0.46 %

Complete interest-bearing deposits

16,103,984


31,174


0.77 %


15,350,390


9,090


0.23 %


15,690,870


4,357


0.11 %

Repurchase agreements and federal funds bought

354,624


323


0.36 %


509,559


545


0.42 %


484,891


48


0.04 %

Borrowings

796,414


8,023


4.00 %


90,475


798


3.50 %


6,353


51


3.19 %

Junior subordinated debentures

413,708


7,248


6.95 %


409,151


5,491


5.33 %


387,471


3,019


3.09 %

Complete interest-bearing liabilities

17,668,730


$  46,768


1.05 %


16,359,575


$  15,924


0.39 %


16,569,585


$    7,475


0.18 %

Non-interest-bearing deposits

10,870,842






11,250,764






11,219,766





Different liabilities

659,279






490,572






379,274





Complete liabilities

29,198,851






28,100,911






28,168,625





Frequent fairness

2,438,639






2,567,266






2,717,753





Complete liabilities and shareholders’ fairness

$  31,637,490






$  30,668,177






$  30,886,378





NET INTEREST INCOME



$  305,762






$  287,933






$  233,754



NET INTEREST SPREAD





3.57 %






3.71 %






3.07 %

NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN (1), (2)





4.01 %






3.88 %






3.15 %


(1)  Non-accrual loans and leases are included within the common steadiness.   

(2)  Tax-exempt revenue has been adjusted to a tax equal foundation at a 21% tax price. The quantity of such adjustment was an addition to recorded revenue of roughly $283,000 for the three months ended December 31, 2022 as in comparison with $329,000 for the three months ended September 30, 2022 and $375,000 for the three months ended December 31, 2021. 

Umpqua Holdings Company

Common Charges and Balances

(Unaudited)


12 months Ended


December 31, 2022


December 31, 2021

({Dollars} in hundreds)

Common Steadiness


Curiosity Revenue or Expense


Common Yields or Charges


Common Steadiness


Curiosity Revenue or Expense


Common Yields or Charges

INTEREST-EARNING ASSETS:












Loans held on the market

$        208,141


$        8,812


4.23 %


$        500,070


$      15,149


3.03 %

Loans and leases (1)

24,225,518


1,041,446


4.29 %


21,925,108


875,366


3.99 %

Taxable securities

3,343,721


72,702


2.17 %


3,321,142


61,717


1.86 %

Non-taxable securities (2)

216,943


6,669


3.07 %


248,256


7,458


3.00 %

Momentary investments and interest-bearing money

1,561,808


19,706


1.26 %


2,936,273


3,864


0.13 %

Complete interest-earning property

29,556,131


$ 1,149,335


3.88 %


28,930,849


$    963,554


3.33 %

Different property

1,261,265






1,336,523





Complete property

$   30,817,396






$   30,267,372





INTEREST-BEARING LIABILITIES:












Curiosity-bearing demand deposits

$     3,886,390


$        8,185


0.21 %


$     3,462,035


$        1,865


0.05 %

Cash market deposits

7,552,666


26,415


0.35 %


7,624,707


5,964


0.08 %

Financial savings deposits

2,411,448


880


0.04 %


2,200,608


729


0.03 %

Time deposits

1,743,988


12,715


0.73 %


2,217,464


18,593


0.84 %

Complete interest-bearing deposits

15,594,492


48,195


0.31 %


15,504,814


27,151


0.18 %

Repurchase agreements and federal funds bought

465,600


997


0.21 %


454,994


280


0.06 %

Borrowings

226,665


8,920


3.94 %


195,985


2,838


1.45 %

Junior subordinated debentures

399,568


19,889


4.98 %


369,259


12,127


3.28 %

Complete interest-bearing liabilities

16,686,325


$      78,001


0.47 %


16,525,052


$      42,396


0.26 %

Non-interest-bearing deposits

11,053,921






10,669,531





Different liabilities

501,573






372,078





Complete liabilities

28,241,819






27,566,661





Frequent fairness

2,575,577






2,700,711





Complete liabilities and shareholders’ fairness

$   30,817,396






$   30,267,372





NET INTEREST INCOME



$ 1,071,334






$    921,158



NET INTEREST SPREAD





3.41 %






3.07 %

NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN (1), (2)





3.62 %






3.18 %

Umpqua Holdings Company

Segments

(Unaudited)

Core Banking

Quarter Ended


% Change

({Dollars} in hundreds)

Dec 31, 2022


Sep 30, 2022


Jun 30, 2022


Mar 31, 2022


Dec 31, 2021


Seq. Quarter


12 months over 12 months

Internet curiosity revenue

$     305,030


$     286,532


$     247,009


$     227,087


$     231,250


6 %


32 %

Provision (recapture) for credit score losses

32,948


27,572


18,692


4,804


(736)


19 %


nm

Non-interest revenue















Achieve on sale of debt securities, web




2


4


nm


(100) %


Achieve (loss) on fairness securities, web

284


(2,647)


(2,075)


(2,661)


(466)


nm


nm


(Loss) acquire on swap derivatives, web

(2,329)


4,194


7,337


7,047


(303)


(156) %


nm


Change in truthful worth of sure loans held for funding

4,192


(26,397)


(15,210)


(21,049)


(2,672)


nm


nm


Non-interest revenue (excluding above objects)

34,362


36,769


34,461


35,650


42,812


(7) %


(20) %


Complete non-interest revenue

36,509


11,919


24,513


18,989


39,375


206 %


(7) %

Non-interest expense















Merger associated bills

11,637


769


2,672


2,278


15,183


nm


(23) %


Exit and disposal prices

1,966


1,364


442


3,033


3,022


44 %


(35) %


Non-interest expense (excluding above objects)

167,267


154,320


148,946


148,423


150,587


8 %


11 %


Allotted bills, web (1)

(1,905)


(39)


3,702


3,735


4,314


nm


(144) %


Complete non-interest expense

178,965


156,414


155,762


157,469


173,106


14 %


3 %

Revenue earlier than revenue taxes

129,626


114,465


97,068


83,803


98,255


13 %


32 %

Provision for revenue taxes

33,763


28,212


24,530


20,917


24,067


20 %


40 %

Internet revenue

$       95,863


$       86,253


$       72,538


$       62,886


$       74,188


11 %


29 %

Efficient Tax Charge

26 %


25 %


25 %


25 %


24 %





Effectivity Ratio

52 %


52 %


57 %


64 %


64 %





Complete property

$  31,577,603


$  31,100,700


$  29,721,590


$  30,153,079


$  30,155,058


2 %


5 %

Complete loans and leases

$  26,155,981


$  25,507,951


$  24,432,678


$  22,975,761


$  22,553,180


3 %


16 %

Complete deposits

$  26,937,431


$  26,588,217


$  25,925,294


$  26,479,078


$  26,370,568


1 %


2 %

Key Charges, finish of interval:














10 yr CMT

3.88 %


3.83 %


2.98 %


2.32 %


1.52 %


0.05


2.36

FHLMC 30 yr mounted

6.42 %


6.70 %


5.70 %


4.67 %


3.11 %


(0.28)


3.31

nm = not significant














(1) Represents the interior expenses for centrally supplied help providers and different company overhead to the Mortgage Banking section, partially offset by allocations from the Mortgage Banking section to Core Banking for brand new portfolio mortgage originations and portfolio servicing prices.

Umpqua Holdings Company

Segments – Continued

(Unaudited)

Mortgage Banking

Quarter Ended


% Change

({Dollars} in hundreds)

Dec 31, 2022


Sep 30, 2022


Jun 30, 2022


Mar 31, 2022


Dec 31, 2021


Seq. Quarter


12 months over 12 months

Internet curiosity revenue

$            449


$         1,072


$         1,161


$         1,676


$         2,129


(58) %


(79) %

Provision for credit score losses






nm


nm

Non-interest revenue















Residential mortgage banking income:















Origination and sale

4,252


10,515


15,101


16,844


23,624


(60) %


(82) %


Servicing

9,184


9,529


9,505


9,140


9,457


(4) %


(3) %


Change in truthful worth of MSR asset:















Adjustments attributable to assortment/realization of anticipated money flows over time

(4,986)


(4,978)


(4,961)


(5,347)


(5,311)


— %


(6) %


Adjustments attributable to valuation inputs or assumptions

(9,914)


16,403


10,899


40,149


15,415


(160) %


(164) %


MSR hedge loss

(348)


(14,128)





(98) %


nm


Non-interest revenue (excluding above objects)

182


185


178


194


178


(2) %


2 %


Complete non-interest revenue

(1,630)


17,526


30,722


60,980


43,363


(109) %


(104) %

Non-interest expense















Non-interest expense

14,112


21,511


27,514


28,696


30,919


(34) %


(54) %


Allotted bills, web(1)

1,905


39


(3,702)


(3,735)


(4,314)


nm


nm


Complete non-interest expense

16,017


21,550


23,812


24,961


26,605


(26) %


(40) %

Revenue earlier than revenue taxes

(17,198)


(2,952)


8,071


37,695


18,887


483 %


(191) %

Provision for revenue taxes

(4,299)


(739)


2,018


9,424


4,721


482 %


(191) %

Internet revenue

$     (12,899)


$       (2,213)


$         6,053


$       28,271


$       14,166


483 %


(191) %

Efficient Tax Charge

25 %


25 %


25 %


25 %


25 %





Effectivity Ratio

nm


116 %


75 %


40 %


58 %





Complete property

$     271,036


$     371,260


$     414,104


$     484,047


$     485,878


(27) %


(44) %

Loans held on the market

$       71,647


$     148,275


$     228,889


$     309,946


$     353,105


(52) %


(80) %

Complete deposits

$     128,181


$     228,890


$     207,129


$     220,509


$     224,117


(44) %


(43) %

LHFS Manufacturing Statistics:














Closed mortgage quantity for-sale

$     216,833


$     396,979


$     576,532


$     649,122


$     871,268


(45) %


(75) %

Achieve on sale margin

1.96 %


2.65 %


2.62 %


2.59 %


2.71 %





Direct LHFS expense

$         7,292


$       10,465


$       13,197


$       14,296


$       18,150


(30) %


(60) %

Direct LHFS bills as % of quantity

3.36 %


2.64 %


2.29 %


2.20 %


2.08 %





MSR Statistics:














Residential mortgage loans serviced for others

$  13,020,189


$  12,997,911


$  12,932,747


$  12,810,574


$  12,755,671


— %


2 %

MSR, web

$     185,017


$     196,177


$     179,558


$     165,807


$     123,615


(6) %


50 %

MSR as % of serviced portfolio

1.42 %


1.51 %


1.39 %


1.29 %


0.97 %


(0.09)


0.45

Key Charges, finish of interval:














10 yr CMT

3.88 %


3.83 %


2.98 %


2.32 %


1.52 %


0.05


2.36

FHLMC 30 yr mounted

6.42 %


6.70 %


5.70 %


4.67 %


3.11 %


(0.28)


3.31

nm = not significant














(1)

Represents the interior expenses for centrally supplied help providers and different company overhead to the Mortgage Banking section, partially offset by allocations from the Mortgage Banking section to Core Banking for brand new portfolio mortgage originations and portfolio servicing prices.

Umpqua Holdings Company

Segments

(Unaudited)


Core Banking


Mortgage Banking



12 months Ended


% Change


12 months Ended


% Change

({Dollars} in hundreds)

Dec 31, 2022


Dec 31, 2021


12 months over 12 months


Dec 31, 2022


Dec 31, 2021


12 months over 12 months

Internet curiosity revenue

$   1,065,658


$      908,087


17 %


$          4,358


$        11,560


(62) %

Provision (recapture) for credit score losses

84,016


(42,651)


nm




nm

Non-interest revenue













Residential mortgage banking income:













Origination and sale



nm


46,712


157,789


(70) %


Servicing



nm


37,358


36,836


1 %


Change in truthful worth of MSR asset:













Adjustments attributable to assortment/realization of anticipated money flows over time



nm


(20,272)


(18,903)


7 %


Adjustments attributable to valuation inputs or assumptions



nm


57,537


11,089


419 %


MSR hedge loss



nm


(14,476)



nm


Achieve on sale of debt securities, web

2


8


(75) %




nm


Loss on fairness securities, web

(7,099)


(1,511)


370 %




nm


Achieve on swap derivatives, web

16,249


8,395


94 %




nm


Change in truthful worth of sure loans held for funding

(58,464)


3,032


nm




nm


Non-interest revenue (excluding above objects)

141,242


158,725


(11) %


739


858


(14) %


Complete non-interest revenue

91,930


168,649


(45) %


107,598


187,669


(43) %

Non-interest expense













Merger associated bills

17,356


15,183


14 %




nm


Exit and disposal prices

6,805


12,763


(47) %




nm


Non-interest expense (excluding above objects)

618,956


589,556


5 %


91,833


142,954


(36) %


Allotted bills, web (1)

5,493


8,174


(33) %


(5,493)


(8,174)


(33) %


Complete non-interest expense

648,610


625,676


4 %


86,340


134,780


(36) %

Revenue earlier than revenue taxes

424,962


493,711


(14) %


25,616


64,449


(60) %

Provision for revenue taxes

107,422


121,748


(12) %


6,404


16,112


(60) %

Internet revenue

$      317,540


$      371,963


(15) %


$        19,212


$        48,337


(60) %














Efficient Tax Charge

25 %


25 %



25 %


25 %


Effectivity Ratio

56 %


58 %


(2.00)


77 %


68 %


9.00














LHFS Manufacturing Statistics:












Closed mortgage quantity for-sale







$   1,839,466


$   4,747,104


(61) %

Achieve on sale margin







2.54 %


3.32 %


(0.78)

Direct LHFS expense







$        45,250


$        94,718


(52) %

Direct LHFS bills as % of quantity







2.46 %


2.00 %


0.46

nm = not significant












(1)

Represents the interior cost of centrally supplied help providers and different company overhead to the Mortgage Banking section, partially offset by allocations from the Mortgage Banking section to Core Banking for brand new portfolio mortgage originations and portfolio servicing prices.

Non-GAAP Monetary Measures
Along with outcomes introduced in accordance with typically accepted accounting rules in the USA of America (GAAP), this press launch incorporates sure non-GAAP monetary measures. The corporate believes presenting sure non-GAAP monetary measures supplies traders with info helpful in understanding our monetary efficiency, our efficiency traits, and our monetary place. We make the most of these measures for inner planning and forecasting functions. We, in addition to securities analysts, traders, and different events, additionally use these measures to match peer firm working efficiency. We consider that our presentation and dialogue, along with the accompanying reconciliations, supplies a whole understanding of things and traits affecting our enterprise and permits traders to view efficiency in a fashion just like administration. These non-GAAP measures shouldn’t be thought-about a substitution for GAAP foundation measures and outcomes, and we strongly encourage traders to evaluation our consolidated monetary statements of their entirety and to not depend on any single monetary measure. As a result of non-GAAP monetary measures aren’t standardized, it is probably not potential to match these monetary measures with different corporations’ non-GAAP monetary measures having the identical or related names.

Umpqua Holdings Company

GAAP to Non-GAAP Reconciliation

(Unaudited)




Quarter Ended


% Change

({Dollars} in hundreds, besides per share
knowledge)



Dec 31, 2022


Sep 30, 2022


Jun 30, 2022


Mar 31, 2022


Dec 31, 2021


Seq. Quarter


12 months over 12 months

Complete shareholders’ fairness

a


$                   2,479,826


$                   2,417,514


$                   2,518,276


$                   2,607,598


$                   2,749,270


3 %


(10) %

Much less: Different intangible property, web



4,745


5,764


6,789


7,815


8,840


(18) %


(46) %

Tangible widespread shareholders’ fairness

b


$                   2,475,081


$                   2,411,750


$                   2,511,487


$                   2,599,783


$                   2,740,430


3 %


(10) %

Much less: Accrued different complete revenue (AOCI)



$                 (426,864)


(449,560)


(308,147)


(183,756)


1,759


(5) %


nm

Tangible widespread shareholders’ fairness, ex AOCI

c


$                   2,901,945


$                   2,861,310


$                   2,819,634


$                   2,783,539


$                   2,738,671


1 %


6 %

















Complete property

d


$  31,848,639


$  31,471,960


$  30,135,694


$  30,637,126


$  30,640,936


1 %


4 %

Much less: Different intangible property, web



4,745


5,764


6,789


7,815


8,840


(18) %


(46) %

Tangible property

e


$  31,843,894


$  31,466,196


$  30,128,905


$  30,629,311


$  30,632,096


1 %


4 %

Frequent shares excellent at interval finish

f


217,054


217,053


217,049


216,967


216,626


— %


— %

















Complete shareholders’ fairness to complete property ratio

a / d


7.79 %


7.68 %


8.36 %


8.51 %


8.97 %


0.11


(1.18)

Tangible widespread fairness ratio

b / e


7.77 %


7.66 %


8.34 %


8.49 %


8.95 %


0.11


(1.18)

Tangible widespread fairness ratio, ex AOCI

c / e


9.11 %


9.09 %


9.36 %


9.09 %


8.94 %


0.02


0.17

Ebook worth per widespread share

a / f


$     11.42


$     11.14


$     11.60


$     12.02


$     12.69


3 %


(10) %

Tangible e book worth per widespread share

b / f


$     11.40


$     11.11


$     11.57


$     11.98


$     12.65


3 %


(10) %

Tangible e book worth per widespread share, ex AOCI

c / f


$     13.37


$     13.18


$     12.99


$     12.83


$     12.64


1 %


6 %

nm = not significant
















Umpqua Holdings Company

GAAP to Non-GAAP Reconciliation – Continued

(Unaudited)

Consolidated



Quarter Ended


% Change

({Dollars} in hundreds)



Dec 31, 2022


Sep 30, 2022


Jun 30, 2022


Mar 31, 2022


Dec 31, 2021


Seq. Quarter


12 months over 12 months

Non-Curiosity Revenue Changes
















Achieve on sale of debt securities, web



$            —


$            —


$            —


$              2


$              4


nm


(100) %

Achieve (loss) on fairness securities, web