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Umpqua Holdings Corporation (NASDAQ: UMPQ) has declared a quarterly cash dividend of $0.21 per common share. This dividend will be paid on February 25, 2022, to shareholders on record as of February 15, 2022. The decision reflects the company's ongoing commitment to returning value to its shareholders. Umpqua is known for its entrepreneurial approach and operates branches in Oregon, Washington, California, Idaho, and Nevada.
Umpqua Bank, part of Umpqua Holdings Corporation (NASDAQ: UMPQ), has launched a Small Business Empowerment Program with a $2 million investment aimed at supporting minority and women entrepreneurs. This program enhances access to capital and expertise by forming multi-year partnerships with several organizations, including Kiva and Centro Community Partners. The initiative intends to dismantle barriers to funding and provide critical resources for underserved communities, thereby promoting economic equality and opportunity. Umpqua's past efforts have already recognized its contributions to equitable lending.
Columbia Banking System (NASDAQ: COLB) and Umpqua Holdings Corporation (NASDAQ: UMPQ) announced on January 26, 2022, that they have secured all necessary shareholder approvals for their proposed merger. This positive support indicates strong confidence in the integration timeline and the anticipated creation of a leading regional bank in the West. The merger is still pending regulatory approvals, with a target completion date set for mid-2022. Both companies are optimistic about the additional value it will generate for shareholders and stakeholders.
On January 26, 2022, Columbia Banking System and Umpqua Holdings Corporation announced the receipt of all necessary shareholder approvals for their proposed merger. The overwhelming support indicates a positive outlook for the transaction, which aims to create a leading regional bank in the West. The companies expect to finalize the merger in mid-2022, pending regulatory approvals. This integration is seen as a significant milestone that will enhance shareholder value and expand opportunities for customers and communities.
Umpqua Holdings Corporation announced its fourth quarter 2021 results, highlighting a net earnings per diluted share of $0.41, despite a decrease in net interest income by $1.7 million due to PPP loan forgiveness impact. Non-PPP loan growth hit a record high of $930 million. Non-interest income increased by $9.0 million, driven by mortgage banking revenue, while expenses rose by $16.0 million due to merger-related costs. The company maintains a total risk-based capital ratio of 14.3% and a low net charge-off rate of 0.13%, ensuring strong credit quality amidst ongoing economic challenges.
Umpqua Holdings Corporation (NASDAQ: UMPQ) will host its fourth quarter 2021 earnings conference call on January 20, 2022, at 10:00 a.m. PT. The financial results will be released after market close on January 19, 2022. Investors can join the call by dialing (866) 440-7407 with the conference ID 3384189. A re-broadcast will be available post-call, and the session can also be streamed via the company's investor relations page.
Umpqua Bank has announced its expansion into Arizona with the hiring of Kevin Gillette as the head of its new Phoenix middle market banking office. Gillette, an experienced leader in the banking sector, will focus on establishing Umpqua's presence in the region's commercial banking landscape. This strategic move is aimed at enhancing the bank's middle market presence across the Western U.S. and leveraging local market opportunities in key sectors like health care and technology.
Umpqua Holdings Corporation (NASDAQ: UMPQ) has declared a quarterly cash dividend of $0.21 per common share, payable on November 30, 2021. Shareholders of record as of November 19, 2021 will receive the dividend. This decision reflects the company's commitment to returning value to its shareholders while sustaining its operational growth across its banking locations in Oregon, Washington, California, Idaho, and Nevada.
Umpqua Holdings Corporation (NASDAQ: UMPQ) reported its third-quarter 2021 results, highlighting a robust non-PPP loan growth of $480 million. Net interest income rose by $5.3 million to $235.1 million, with a net interest margin of 3.21%. However, non-interest income decreased by $17.4 million, primarily due to lower mortgage banking revenue. The total risk-based capital ratio stood at 14.9%. The company repurchased 4 million shares for $78.2 million and declared a quarterly dividend of $0.21. Umpqua aims to enhance growth through its combination with Columbia Banking System, creating a leading regional bank.
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