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 |
$83 |
13.53 % |
13.7 % |
|||
|
4Q22 Internet earnings per diluted |
4Q22 Internet revenue ($ in thousands and thousands) |
4Q22 Return on avg tangible |
Complete risk-based capital ratio |
|||
|
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 |
|||||||||||||||||
|
(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 |
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 |
284 |
(2,647) |
(2,075) |
(2,661) |
(466) |
nm |
nm |
||||||||
|
(Loss) acquire on swap derivatives |
(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 |
||||||||
|
Change in truthful worth of MSR 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 |
||||||||
|
Complete non-interest revenue changes |
a |
$ (8,115) |
$ (22,575) |
$ 951 |
$ 23,488 |
$ 11,978 |
(64) % |
(168) % |
|||||||
|
Non-Curiosity Expense Changes |
|||||||||||||||
|
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) % |
||||||||
|
Complete non-interest expense changes |
b |
$ 13,603 |
$ 2,133 |
$ 3,114 |
$ 5,311 |
$ 18,205 |
nm |
(25) % |
|||||||
|
Internet curiosity revenue (1) |
c |
$ 305,762 |
$ 287,933 |
$ 248,522 |
$ 229,117 |
$ 233,754 |
6 % |
31 % |
|||||||
|
Non-interest revenue (GAAP) |
d |
$ 34,879 |
$ 29,445 |
$ 55,235 |
$ 79,969 |
$ 82,738 |
18 % |
(58) % |
|||||||
|
Much less: Non-interest revenue changes |
a |
8,115 |
22,575 |
(951) |
(23,488) |
(11,978) |
(64) % |
nm |
|||||||
|
Working non-interest revenue (non-GAAP) |
e |
$ 42,994 |
$ 52,020 |
$ 54,284 |
$ 56,481 |
$ 70,760 |
(17) % |
(39) % |
|||||||
|
Income (GAAP) (1) |
f=c+d |
$ 340,641 |
$ 317,378 |
$ 303,757 |
$ 309,086 |
$ 316,492 |
7 % |
8 % |
|||||||
|
Working income (non-GAAP) (1) |
g=c+e |
$ 348,756 |
$ 339,953 |
$ 302,806 |
$ 285,598 |
$ 304,514 |
3 % |
15 % |
|||||||
|
Non-interest expense (GAAP) |
h |
$ 194,982 |
$ 177,964 |
$ 179,574 |
$ 182,430 |
$ 199,711 |
10 % |
(2) % |
|||||||
|
Much less: Non-interest expense changes |
b |
(13,603) |
(2,133) |
(3,114) |
(5,311) |
(18,205) |
nm |
(25) % |
|||||||
|
Working non-interest expense (non-GAAP) |
i |
$ 181,379 |
$ 175,831 |
$ 176,460 |
$ 177,119 |
$ 181,506 |
3 % |
— % |
|||||||
|
Internet revenue (GAAP) |
j |
$ 82,964 |
$ 84,040 |
$ 78,591 |
$ 91,157 |
$ 88,354 |
(1) % |
(6) % |
|||||||
|
Provision for revenue taxes |
29,464 |
27,473 |
26,548 |
30,341 |
28,788 |
7 % |
2 % |
||||||||
|
Revenue earlier than provision for revenue taxes |
112,428 |
111,513 |
105,139 |
121,498 |
117,142 |
1 % |
(4) % |
||||||||
|
Provision (recapture) for credit score losses |
32,948 |
27,572 |
18,692 |
4,804 |
(736) |
19 % |
nm |
||||||||
|
Pre-provision web income (PPNR) (non-GAAP) |
okay |
145,376 |
139,085 |
123,831 |
126,302 |
116,406 |
5 % |
25 % |
|||||||
|
Much less: Non-interest revenue changes |
a |
8,115 |
22,575 |
(951) |
(23,488) |
(11,978) |
(64) % |
nm |
|||||||
|
Add: Non-interest expense changes |
b |
13,603 |
2,133 |
3,114 |
5,311 |
18,205 |
nm |
(25) % |
|||||||
|
Working PPNR (non-GAAP) |
l |
$ 167,094 |
$ 163,793 |
$ 125,994 |
$ 108,125 |
$ 122,633 |
2 % |
36 % |
|||||||
|
Internet revenue (GAAP) |
j |
$ 82,964 |
$ 84,040 |
$ 78,591 |
$ 91,157 |
$ 88,354 |
(1) % |
(6) % |
|||||||
|
Much less: Non-interest revenue changes |
a |
8,115 |
22,575 |
(951) |
(23,488) |
(11,978) |
(64) % |
nm |
|||||||
|
Add: Non-interest expense changes |
b |
13,603 |
2,133 |
3,114 |
5,311 |
18,205 |
nm |
(25) % |
|||||||
|
Tax impact of changes |
(5,459) |
(6,116) |
(480) |
4,576 |
1,190 |
(11) % |
nm |
||||||||
|
Working web revenue (non-GAAP) |
m |
$ 99,223 |
$ 102,632 |
$ 80,274 |
$ 77,556 |
$ 95,771 |
(3) % |
4 % |
|||||||
|
nm = not significant |
|||||||||||||||
|
(1) |
Tax exempt curiosity has been adjusted to a taxable equal foundation utilizing a 21% tax price. |
|
Umpqua Holdings Company GAAP to Non-GAAP Reconciliation – Continued |
|||||||||||||||
|
(Unaudited) |
|||||||||||||||
|
Consolidated |
Quarter Ended |
% Change |
|||||||||||||
|
({Dollars} in hundreds, besides per share |
Dec 31, 2022 |
Sep 30, 2022 |
Jun 30, 2022 |
Mar 31, 2022 |
Dec 31, 2021 |
Seq. Quarter |
12 months over 12 months |
||||||||
|
Common property |
n |
$ 31,637,490 |
$ 30,668,177 |
$ 30,356,903 |
$ 30,597,413 |
$ 30,886,378 |
3 % |
2 % |
|||||||
|
Much less: Common goodwill and different intangible property, web |
5,298 |
6,343 |
7,379 |
8,407 |
9,491 |
(16) % |
(44) % |
||||||||
|
Common tangible property |
o |
$ 31,632,192 |
$ 30,661,834 |
$ 30,349,524 |
$ 30,589,006 |
$ 30,876,887 |
3 % |
2 % |
|||||||
|
Common widespread shareholders’ fairness |
p |
$ 2,438,639 |
$ 2,567,266 |
$ 2,584,836 |
$ 2,715,059 |
$ 2,717,753 |
(5) % |
(10) % |
|||||||
|
Much less: Common goodwill and different intangible property, web |
5,298 |
6,343 |
7,379 |
8,407 |
9,491 |
(16) % |
(44) % |
||||||||
|
Common tangible widespread fairness |
q |
$ 2,433,341 |
$ 2,560,923 |
$ 2,577,457 |
$ 2,706,652 |
$ 2,708,262 |
(5) % |
(10) % |
|||||||
|
Weighted common primary shares excellent |
r |
217,054 |
217,051 |
217,030 |
216,782 |
216,624 |
— % |
— % |
|||||||
|
Weighted common diluted shares excellent |
s |
217,566 |
217,386 |
217,279 |
217,392 |
217,356 |
— % |
— % |
|||||||
|
Choose Per-Share & Efficiency Metrics |
|||||||||||||||
|
Earnings-per-share – primary |
j / r |
$ 0.38 |
$ 0.39 |
$ 0.36 |
$ 0.42 |
$ 0.41 |
(3) % |
(7) % |
|||||||
|
Earnings-per-share – diluted |
j / s |
$ 0.38 |
$ 0.39 |
$ 0.36 |
$ 0.42 |
$ 0.41 |
(3) % |
(7) % |
|||||||
|
Effectivity ratio |
h / f |
57.24 % |
56.07 % |
59.12 % |
59.02 % |
63.10 % |
1.17 |
(5.86) |
|||||||
|
PPNR return on common property |
okay / n |
1.82 % |
1.80 % |
1.64 % |
1.67 % |
1.50 % |
0.02 |
0.32 |
|||||||
|
Return on common property |
j / n |
1.04 % |
1.09 % |
1.04 % |
1.21 % |
1.13 % |
(0.05) |
(0.09) |
|||||||
|
Return on common tangible property |
j / o |
1.04 % |
1.09 % |
1.04 % |
1.21 % |
1.14 % |
(0.05) |
(0.10) |
|||||||
|
Return on common widespread fairness |
j / p |
13.50 % |
12.99 % |
12.20 % |
13.62 % |
12.90 % |
0.51 |
0.60 |
|||||||
|
Return on common tangible widespread fairness |
j / q |
13.53 % |
13.02 % |
12.23 % |
13.66 % |
12.94 % |
0.51 |
0.59 |
|||||||
|
Working Per-Share & Efficiency Metrics |
|||||||||||||||
|
Working earnings-per-share – primary |
m / r |
$ 0.46 |
$ 0.47 |
$ 0.37 |
$ 0.36 |
$ 0.44 |
(2) % |
5 % |
|||||||
|
Working earnings-per-share – diluted |
m / s |
$ 0.46 |
$ 0.47 |
$ 0.37 |
$ 0.36 |
$ 0.44 |
(2) % |
5 % |
|||||||
|
Working effectivity ratio |
i / g |
52.01 % |
51.72 % |
58.27 % |
62.02 % |
59.61 % |
0.29 |
(7.60) |
|||||||
|
Working PPNR return on common property |
l / n |
2.10 % |
2.12 % |
1.66 % |
1.43 % |
1.58 % |
(0.02) |
0.52 |
|||||||
|
Working return on common property |
m / n |
1.24 % |
1.33 % |
1.06 % |
1.03 % |
1.23 % |
(0.09) |
0.01 |
|||||||
|
Working return on common tangible property |
m / o |
1.24 % |
1.33 % |
1.06 % |
1.03 % |
1.23 % |
(0.09) |
0.01 |
|||||||
|
Working return on common widespread fairness |
m / p |
16.14 % |
15.86 % |
12.46 % |
11.58 % |
13.98 % |
0.28 |
2.16 |
|||||||
|
Working return on common tangible widespread fairness |
m / q |
16.18 % |
15.90 % |
12.49 % |
11.62 % |
14.03 % |
0.28 |
2.15 |
|||||||
|
Umpqua Holdings Company GAAP to Non-GAAP Reconciliation – Continued |
|||||||||||||||
|
(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 |
||||||||
|
Non-Curiosity Revenue Changes |
|||||||||||||||
|
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 |
(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 |
||||||||
|
Complete non-interest revenue changes |
a |
$ 2,147 |
$ (24,850) |
$ (9,948) |
$ (16,661) |
$ (3,437) |
nm |
nm |
|||||||
|
Non-Curiosity Expense Changes |
|||||||||||||||
|
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) % |
||||||||
|
Complete non-interest expense changes |
b |
$ 13,603 |
$ 2,133 |
$ 3,114 |
$ 5,311 |
$ 18,205 |
nm |
(25) % |
|||||||
|
Internet curiosity revenue (1) |
c |
$ 305,313 |
$ 286,861 |
$ 247,361 |
$ 227,441 |
$ 231,625 |
6 % |
32 % |
|||||||
|
Non-interest revenue (GAAP) |
d |
$ 36,509 |
$ 11,919 |
$ 24,513 |
$ 18,989 |
$ 39,375 |
206 % |
(7) % |
|||||||
|
Much less: Non-interest revenue changes |
a |
(2,147) |
24,850 |
9,948 |
16,661 |
3,437 |
(109) % |
(162) % |
|||||||
|
Working non-interest revenue (non-GAAP) |
e |
$ 34,362 |
$ 36,769 |
$ 34,461 |
$ 35,650 |
$ 42,812 |
(7) % |
(20) % |
|||||||
|
Income (GAAP) (1) |
f=c+d |
$ 341,822 |
$ 298,780 |
$ 271,874 |
$ 246,430 |
$ 271,000 |
14 % |
26 % |
|||||||
|
Working income (non-GAAP) (1) |
g=c+e |
$ 339,675 |
$ 323,630 |
$ 281,822 |
$ 263,091 |
$ 274,437 |
5 % |
24 % |
|||||||
|
Non-interest expense (GAAP) (2) |
h |
$ 178,965 |
$ 156,414 |
$ 155,762 |
$ 157,469 |
$ 173,106 |
14 % |
3 % |
|||||||
|
Much less: Non-interest expense changes |
b |
(13,603) |
(2,133) |
(3,114) |
(5,311) |
(18,205) |
nm |
(25) % |
|||||||
|
Working non-interest expense (non-GAAP) |
i |
$ 165,362 |
$ 154,281 |
$ 152,648 |
$ 152,158 |
$ 154,901 |
7 % |
7 % |
|||||||
|
Internet revenue (GAAP) |
j |
$ 95,863 |
$ 86,253 |
$ 72,538 |
$ 62,886 |
$ 74,188 |
11 % |
29 % |
|||||||
|
Provision for revenue taxes |
33,763 |
28,212 |
24,530 |
20,917 |
24,067 |
20 % |
40 % |
||||||||
|
Revenue earlier than provision for revenue taxes |
129,626 |
114,465 |
97,068 |
83,803 |
98,255 |
13 % |
32 % |
||||||||
|
Provision (recapture) for credit score losses |
32,948 |
27,572 |
18,692 |
4,804 |
(736) |
19 % |
nm |
||||||||
|
Pre-provision web income (PPNR) (non-GAAP) |
okay |
162,574 |
142,037 |
115,760 |
88,607 |
97,519 |
14 % |
67 % |
|||||||
|
Much less: Non-interest revenue changes |
a |
(2,147) |
24,850 |
9,948 |
16,661 |
3,437 |
(109) % |
(162) % |
|||||||
|
Add: Non-interest expense changes |
b |
13,603 |
2,133 |
3,114 |
5,311 |
18,205 |
nm |
(25) % |
|||||||
|
Working PPNR (non-GAAP) |
l |
$ 174,030 |
$ 169,020 |
$ 128,822 |
$ 110,579 |
$ 119,161 |
3 % |
46 % |
|||||||
|
Internet revenue (GAAP) |
j |
$ 95,863 |
$ 86,253 |
$ 72,538 |
$ 62,886 |
$ 74,188 |
11 % |
29 % |
|||||||
|
Much less: Non-interest revenue changes |
a |
(2,147) |
24,850 |
9,948 |
16,661 |
3,437 |
(109) % |
(162) % |
|||||||
|
Add: Non-interest expense changes |
b |
13,603 |
2,133 |
3,114 |
5,311 |
18,205 |
nm |
(25) % |
|||||||
|
Tax impact of changes |
(2,893) |
(6,685) |
(3,205) |
(5,461) |
(2,664) |
(57) % |
9 % |
||||||||
|
Working web revenue (non-GAAP) |
m |
$ 104,426 |
$ 106,551 |
$ 82,395 |
$ 79,397 |
$ 93,166 |
(2) % |
12 % |
|||||||
|
Effectivity ratio |
h / f |
52.36 % |
52.35 % |
57.29 % |
63.90 % |
63.88 % |
0.01 |
(11.52) |
|||||||
|
Working effectivity ratio |
i / g |
48.68 % |
47.67 % |
54.16 % |
57.83 % |
56.44 % |
1.01 |
(7.76) |
|||||||
|
Core Banking web revenue / Consolidated web revenue |
115.55 % |
102.63 % |
92.30 % |
68.99 % |
83.97 % |
12.92 |
31.58 |
||||||||
|
Core Banking working web revenue / Consolidated working web revenue |
105.24 % |
103.82 % |
102.64 % |
102.37 % |
97.28 % |
1.42 |
7.96 |
||||||||
|
nm = not significant |
|||||||||||||||
|
(1) |
Tax exempt curiosity has been adjusted to a taxable equal foundation utilizing a 21% tax price. |
|
(2) |
Contains changes associated to allotted bills between the Core Banking and Mortgage Banking segments. |
|
Umpqua Holdings Company GAAP to Non-GAAP Reconciliation – 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 |
||||||||
|
Non-Curiosity Revenue Changes |
|||||||||||||||
|
Change in truthful worth of MSR 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 |
||||||||
|
Complete non-interest revenue changes |
a |
$ (10,262) |
$ 2,275 |
$ 10,899 |
$ 40,149 |
$ 15,415 |
nm |
(167) % |
|||||||
|
Complete non-interest expense changes |
b |
$ — |
$ — |
$ — |
$ — |
$ — |
nm |
nm |
|||||||
|
Internet curiosity revenue |
c |
$ 449 |
$ 1,072 |
$ 1,161 |
$ 1,676 |
$ 2,129 |
(58) % |
(79) % |
|||||||
|
Non-interest revenue (GAAP) |
d |
$ (1,630) |
$ 17,526 |
$ 30,722 |
$ 60,980 |
$ 43,363 |
(109) % |
(104) % |
|||||||
|
Much less: Non-interest revenue changes |
a |
10,262 |
(2,275) |
(10,899) |
(40,149) |
(15,415) |
nm |
nm |
|||||||
|
Working non-interest revenue (non-GAAP) |
e |
$ 8,632 |
$ 15,251 |
$ 19,823 |
$ 20,831 |
$ 27,948 |
(43) % |
(69) % |
|||||||
|
Income (GAAP) |
f=c+d |
$ (1,181) |
$ 18,598 |
$ 31,883 |
$ 62,656 |
$ 45,492 |
(106) % |
(103) % |
|||||||
|
Working income (non-GAAP) |
g=c+e |
$ 9,081 |
$ 16,323 |
$ 20,984 |
$ 22,507 |
$ 30,077 |
(44) % |
(70) % |
|||||||
|
Non-interest expense (GAAP) (1) |
h |
$ 16,017 |
$ 21,550 |
$ 23,812 |
$ 24,961 |
$ 26,605 |
(26) % |
(40) % |
|||||||
|
Much less: Non-interest expense changes |
b |
— |
— |
— |
— |
— |
nm |
nm |
|||||||
|
Working non-interest expense (non-GAAP) |
i |
$ 16,017 |
$ 21,550 |
$ 23,812 |
$ 24,961 |
$ 26,605 |
(26) % |
(40) % |
|||||||
|
Internet revenue (GAAP) |
j |
$ (12,899) |
$ (2,213) |
$ 6,053 |
$ 28,271 |
$ 14,166 |
483 % |
(191) % |
|||||||
|
Provision for revenue taxes |
(4,299) |
(739) |
2,018 |
9,424 |
4,721 |
482 % |
(191) % |
||||||||
|
Revenue earlier than provision for revenue taxes |
(17,198) |
(2,952) |
8,071 |
37,695 |
18,887 |
483 % |
(191) % |
||||||||
|
Provision for credit score losses |
— |
— |
— |
— |
— |
nm |
nm |
||||||||
|
Pre-provision web income (PPNR) (non-GAAP) |
okay |
(17,198) |
(2,952) |
8,071 |
37,695 |
18,887 |
483 % |
(191) % |
|||||||
|
Much less: Non-interest revenue changes |
a |
10,262 |
(2,275) |
(10,899) |
(40,149) |
(15,415) |
nm |
nm |
|||||||
|
Add: Non-interest expense changes |
b |
— |
— |
— |
— |
— |
nm |
nm |
|||||||
|
Working PPNR (non-GAAP) |
l |
$ (6,936) |
$ (5,227) |
$ (2,828) |
$ (2,454) |
$ 3,472 |
33 % |
(300) % |
|||||||
|
Internet revenue (GAAP) |
j |
$ (12,899) |
$ (2,213) |
$ 6,053 |
$ 28,271 |
$ 14,166 |
483 % |
(191) % |
|||||||
|
Much less: Non-interest revenue changes |
a |
10,262 |
(2,275) |
(10,899) |
(40,149) |
(15,415) |
nm |
nm |
|||||||
|
Add: Non-interest expense changes |
b |
— |
— |
— |
— |
— |
nm |
nm |
|||||||
|
Tax impact of changes |
(2,566) |
569 |
2,725 |
10,037 |
3,854 |
nm |
(167) % |
||||||||
|
Working web revenue (non-GAAP) |
m |
$ (5,203) |
$ (3,919) |
$ (2,121) |
$ (1,841) |
$ 2,605 |
33 % |
(300) % |
|||||||
|
Effectivity ratio |
h / f |
nm |
115.87 % |
74.69 % |
39.84 % |
58.48 % |
nm |
nm |
|||||||
|
Working effectivity ratio |
i / g |
176.38 % |
132.02 % |
113.48 % |
110.90 % |
88.46 % |
34 % |
99 % |
|||||||
|
Mortgage Banking web revenue / Consolidated web revenue |
(15.55) % |
(2.63) % |
7.70 % |
31.01 % |
16.03 % |
(12.92) |
(31.58) |
||||||||
|
Mortgage Banking working web revenue / Consolidated working web revenue |
(5.24) % |
(3.82) % |
(2.64) % |
(2.37) % |
2.72 % |
(1.42) |
(7.96) |
||||||||
|
nm = not significant |
|||||||||||||||
|
(1) |
Contains changes associated to allotted bills between the Core Banking and Mortgage Banking segments. |
|
Umpqua Holdings Company GAAP to Non-GAAP Reconciliation – Continued |
|||||||
|
(Unaudited) |
|||||||
|
Consolidated |
12 months to Date |
% Change |
|||||
|
({Dollars} in hundreds) |
Dec 31, 2022 |
Dec 31, 2021 |
12 months over 12 months |
||||
|
Non-Curiosity Revenue Changes |
|||||||
|
Achieve on sale of debt securities, web |
$ 2 |
$ 8 |
(75) % |
||||
|
Loss on fairness securities, web |
(7,099) |
(1,511) |
370 % |
||||
|
Achieve on swap derivatives |
16,249 |
8,395 |
94 % |
||||
|
Change in truthful worth of sure loans held for funding |
(58,464) |
3,032 |
nm |
||||
|
Change in truthful worth of MSR attributable to valuation inputs or assumptions |
57,537 |
11,089 |
419 % |
||||
|
MSR hedge loss |
(14,476) |
— |
nm |
||||
|
Complete non-interest revenue changes |
a |
$ (6,251) |
$ 21,013 |
(130) % |
|||
|
Non-Curiosity Expense Changes |
|||||||
|
Merger associated bills |
$ 17,356 |
$ 15,183 |
14 % |
||||
|
Exit and disposal prices |
6,805 |
12,763 |
(47) % |
||||
|
Complete non-interest expense changes |
b |
$ 24,161 |
$ 27,946 |
(14) % |
|||
|
Internet curiosity revenue (1) |
c |
$ 1,071,334 |
$ 921,158 |
16 % |
|||
|
Non-interest revenue (GAAP) |
d |
$ 199,528 |
$ 356,318 |
(44) % |
|||
|
Much less: Non-interest revenue changes |
a |
6,251 |
(21,013) |
nm |
|||
|
Working non-interest revenue (non-GAAP) |
e |
$ 205,779 |
$ 335,305 |
(39) % |
|||
|
Income (GAAP) (1) |
f=c+d |
$ 1,270,862 |
$ 1,277,476 |
(1) % |
|||
|
Working income (non-GAAP) (1) |
g=c+e |
$ 1,277,113 |
$ 1,256,463 |
2 % |
|||
|
Non-interest expense (GAAP) |
h |
$ 734,950 |
$ 760,456 |
(3) % |
|||
|
Much less: Non-interest expense changes |
b |
(24,161) |
(27,946) |
(14) % |
|||
|
Working non-interest expense (non-GAAP) |
i |
$ 710,789 |
$ 732,510 |
(3) % |
|||
|
Internet revenue (GAAP) |
j |
$ 336,752 |
$ 420,300 |
(20) % |
|||
|
Provision for revenue taxes |
113,826 |
137,860 |
(17) % |
||||
|
Revenue earlier than provision for revenue taxes |
450,578 |
558,160 |
(19) % |
||||
|
Provision (recapture) for credit score losses |
84,016 |
(42,651) |
nm |
||||
|
Pre-provision web income (PPNR) (non-GAAP) |
okay |
534,594 |
515,509 |
4 % |
|||
|
Much less: Non-interest revenue changes |
a |
6,251 |
(21,013) |
nm |
|||
|
Add: Non-interest expense changes |
b |
24,161 |
27,946 |
(14) % |
|||
|
Working PPNR (non-GAAP) |
l |
$ 565,006 |
$ 522,442 |
8 % |
|||
|
Internet revenue (GAAP) |
j |
$ 336,752 |
$ 420,300 |
(20) % |
|||
|
Much less: Non-interest revenue changes |
a |
6,251 |
(21,013) |
nm |
|||
|
Add: Non-interest expense changes |
b |
24,161 |
27,946 |
(14) % |
|||
|
Tax impact of changes |
(7,479) |
1,014 |
nm |
||||
|
Working web revenue (non-GAAP) |
m |
$ 359,685 |
$ 428,247 |
(16) % |
|||
|
nm = not significant |
|||||||
|
Common property |
n |
$ 30,817,396 |
$ 30,267,372 |
2 % |
|||
|
Much less: Common goodwill and different intangible property, web |
$ 6,847 |
$ 12,057 |
(43) % |
||||
|
Common tangible property |
o |
$ 30,810,549 |
$ 30,255,315 |
2 % |
|||
|
Common widespread shareholders’ fairness |
p |
$ 2,575,577 |
$ 2,700,711 |
(5) % |
|||
|
Much less: Common goodwill and different intangible property, web |
$ 6,847 |
$ 12,057 |
(43) % |
||||
|
Common tangible widespread fairness |
q |
$ 2,568,730 |
$ 2,688,654 |
(4) % |
|||
|
Weighted common primary shares excellent |
r |
216,980 |
219,032 |
(1) % |
|||
|
Weighted common diluted shares excellent |
s |
217,403 |
219,581 |
(1) % |
|||
|
Choose Per-Share & Efficiency Metrics |
|||||||
|
Earnings-per-share – primary |
j / r |
$ 1.55 |
$ 1.92 |
(19) % |
|||
|
Earnings-per-share – diluted |
j / s |
$ 1.55 |
$ 1.91 |
(19) % |
|||
|
Effectivity ratio |
h / f |
57.83 % |
59.53 % |
(1.70) |
|||
|
PPNR return on common property |
okay / n |
1.73 % |
1.70 % |
0.03 |
|||
|
Return on common property |
j / n |
1.09 % |
1.39 % |
(0.30) |
|||
|
Return on common tangible property |
j / o |
1.09 % |
1.39 % |
(0.30) |
|||
|
Return on common widespread fairness |
j / p |
13.07 % |
15.56 % |
(2.49) |
|||
|
Return on common tangible widespread fairness |
j / q |
13.11 % |
15.63 % |
(2.52) |
|||
|
Working Per-Share & Efficiency Metrics |
|||||||
|
Working earnings-per-share – primary |
m / r |
$ 1.66 |
$ 1.96 |
(15) % |
|||
|
Working earnings-per-share – diluted |
m / s |
$ 1.65 |
$ 1.95 |
(15) % |
|||
|
Working effectivity ratio |
i / g |
55.66 % |
58.30 % |
(2.64) |
|||
|
Working PPNR return on common property |
l / n |
1.83 % |
1.73 % |
0.10 |
|||
|
Working return on common property |
m / n |
1.17 % |
1.41 % |
(0.24) |
|||
|
Working return on common tangible property |
m / o |
1.17 % |
1.42 % |
(0.25) |
|||
|
Working return on common widespread fairness |
m / p |
13.97 % |
15.86 % |
(1.89) |
|||
|
Working return on common tangible widespread fairness |
m / q |
14.00 % |
15.93 % |
(1.93) |
|||
|
(1) |
Tax exempt curiosity has been adjusted to a taxable equal foundation utilizing a 21% tax price. |
|
Umpqua Holdings Company GAAP to Non-GAAP Reconciliation – Continued |
|||||||
|
(Unaudited) |
|||||||
|
Core Banking |
12 months to Date |
% Change |
|||||
|
({Dollars} in hundreds) |
Dec 31, 2022 |
Dec 31, 2021 |
12 months over 12 months |
||||
|
Non-Curiosity Revenue Changes |
|||||||
|
Achieve on sale of debt securities, web |
$ 2 |
$ 8 |
(75) % |
||||
|
Loss on fairness securities, web |
(7,099) |
(1,511) |
370 % |
||||
|
Achieve on swap derivatives |
16,249 |
8,395 |
94 % |
||||
|
Change in truthful worth of sure loans held for funding |
(58,464) |
3,032 |
nm |
||||
|
Complete non-interest revenue changes |
a |
$ (49,312) |
$ 9,924 |
nm |
|||
|
Non-Curiosity Expense Changes |
|||||||
|
Merger associated bills |
$ 17,356 |
$ 15,183 |
14 % |
||||
|
Exit and disposal prices |
6,805 |
12,763 |
(47) % |
||||
|
Complete non-interest expense changes |
b |
$ 24,161 |
$ 27,946 |
(14) % |
|||
|
Internet curiosity revenue (1) |
c |
$ 1,066,976 |
$ 909,598 |
17 % |
|||
|
Non-interest revenue (GAAP) |
d |
$ 91,930 |
$ 168,649 |
(45) % |
|||
|
Much less: Non-interest revenue changes |
a |
49,312 |
(9,924) |
nm |
|||
|
Working non-interest revenue (non-GAAP) |
e |
$ 141,242 |
$ 158,725 |
(11) % |
|||
|
Income (GAAP) (1) |
f=c+d |
$ 1,158,906 |
$ 1,078,247 |
7 % |
|||
|
Working income (non-GAAP) (1) |
g=c+e |
$ 1,208,218 |
$ 1,068,323 |
13 % |
|||
|
Non-interest expense (GAAP) (2) |
h |
$ 648,610 |
$ 625,676 |
4 % |
|||
|
Much less: Non-interest expense changes |
b |
(24,161) |
(27,946) |
(14) % |
|||
|
Working non-interest expense (non-GAAP) |
i |
$ 624,449 |
$ 597,730 |
4 % |
|||
|
Internet revenue (GAAP) |
j |
$ 317,540 |
$ 371,963 |
(15) % |
|||
|
Provision for revenue taxes |
107,422 |
121,748 |
(12) % |
||||
|
Revenue earlier than provision for revenue taxes |
424,962 |
493,711 |
(14) % |
||||
|
Provision (recapture) for credit score losses |
84,016 |
(42,651) |
nm |
||||
|
Pre-provision web income (PPNR) (non-GAAP) |
okay |
508,978 |
451,060 |
13 % |
|||
|
Much less: Non-interest revenue changes |
a |
49,312 |
(9,924) |
nm |
|||
|
Add: Non-interest expense changes |
b |
24,161 |
27,946 |
(14) % |
|||
|
Working PPNR (non-GAAP) |
l |
$ 582,451 |
$ 469,082 |
24 % |
|||
|
Internet revenue (GAAP) |
j |
$ 317,540 |
$ 371,963 |
(15) % |
|||
|
Much less: Non-interest revenue changes |
a |
49,312 |
(9,924) |
nm |
|||
|
Add: Non-interest expense changes |
b |
24,161 |
27,946 |
(14) % |
|||
|
Tax impact of changes |
(18,244) |
(1,758) |
nm |
||||
|
Working web revenue (non-GAAP) |
m |
$ 372,769 |
$ 388,227 |
(4) % |
|||
|
Effectivity ratio |
h / f |
55.97 % |
58.03 % |
(2.06) |
|||
|
Working effectivity ratio |
i / g |
51.68 % |
55.95 % |
(4.27) |
|||
|
Core Banking web revenue / Consolidated web revenue |
94.29 % |
88.50 % |
5.79 |
||||
|
Core Banking working web revenue / Consolidated working web revenue |
103.64 % |
90.65 % |
12.99 |
||||
|
nm = not significant |
|||||||
|
Umpqua Holdings Company GAAP to Non-GAAP Reconciliation – Continued |
|||||||
|
(Unaudited) |
|||||||
|
Mortgage Banking |
12 months to Date |
% Change |
|||||
|
({Dollars} in hundreds) |
Dec 31, 2022 |
Dec 31, 2021 |
12 months over 12 months |
||||
|
Non-Curiosity Revenue Changes |
|||||||
|
Change in truthful worth of MSR attributable to valuation inputs or assumptions |
$ 57,537 |
$ 11,089 |
419 % |
||||
|
MSR hedge loss |
(14,476) |
— |
nm |
||||
|
Complete non-interest revenue changes |
a |
$ 43,061 |
$ 11,089 |
288 % |
|||
|
Complete non-interest expense changes |
b |
$ — |
$ — |
nm |
|||
|
Internet curiosity revenue |
c |
$ 4,358 |
$ 11,560 |
(62) % |
|||
|
Non-interest revenue (GAAP) |
d |
$ 107,598 |
$ 187,669 |
(43) % |
|||
|
Much less: Non-interest revenue changes |
a |
(43,061) |
(11,089) |
288 % |
|||
|
Working non-interest revenue (non-GAAP) |
e |
$ 64,537 |
$ 176,580 |
(63) % |
|||
|
Income (GAAP) |
f=c+d |
$ 111,956 |
$ 199,229 |
(44) % |
|||
|
Working income (non-GAAP) |
g=c+e |
$ 68,895 |
$ 188,140 |
(63) % |
|||
|
Non-interest expense (GAAP) (1) |
h |
$ 86,340 |
$ 134,780 |
(36) % |
|||
|
Much less: Non-interest expense changes |
b |
— |
— |
nm |
|||
|
Working non-interest expense (non-GAAP) |
i |
$ 86,340 |
$ 134,780 |
(36) % |
|||
|
Internet revenue (GAAP) |
j |
$ 19,212 |
$ 48,337 |
(60) % |
|||
|
Provision for revenue taxes |
6,404 |
16,112 |
(60) % |
||||
|
Revenue earlier than provision for revenue taxes |
25,616 |
64,449 |
(60) % |
||||
|
Provision for credit score losses |
— |
— |
nm |
||||
|
Pre-provision web income (PPNR) (non-GAAP) |
okay |
25,616 |
64,449 |
(60) % |
|||
|
Much less: Non-interest revenue changes |
a |
(43,061) |
(11,089) |
288 % |
|||
|
Add: Non-interest expense changes |
b |
— |
— |
nm |
|||
|
Working PPNR (non-GAAP) |
l |
$ (17,445) |
$ 53,360 |
(133) % |
|||
|
Internet revenue (GAAP) |
j |
$ 19,212 |
$ 48,337 |
(60) % |
|||
|
Much less: Non-interest revenue changes |
a |
(43,061) |
(11,089) |
288 % |
|||
|
Add: Non-interest expense changes |
b |
— |
— |
nm |
|||
|
Tax impact of changes |
10,765 |
2,772 |
288 % |
||||
|
Working web revenue (non-GAAP) |
m |
$ (13,084) |
$ 40,020 |
(133) % |
|||
|
Effectivity ratio |
h / f |
77.12 % |
67.65 % |
9.47 |
|||
|
Working effectivity ratio |
i / g |
125.32 % |
71.64 % |
53.68 |
|||
|
Mortgage Banking web revenue / Consolidated web revenue |
5.71 % |
11.50 % |
(5.79) |
||||
|
Mortgage Banking working web revenue / Consolidated working web revenue |
(3.64) % |
9.35 % |
(12.99) |
||||
|
nm = not significant |
|||||||
1 “Non-GAAP” monetary measure. A reconciliation to the comparable GAAP measurement is supplied on web page 4
SOURCE Umpqua Holdings Company
