UMPQ - UMPQ STOCK NEWS

Columbia Banking System and Umpqua Holdings Corporation announced a definitive agreement for an all-stock merger. Umpqua shareholders will receive 0.5958 shares of Columbia for each Umpqua share, resulting in Umpqua shareholders owning about 62% of the combined entity. The merger aims to create a leading West Coast bank with over $50 billion in assets and enhance market share in key areas like Seattle and Portland. Projected financial benefits include significant earnings accretion, improved profitability, and around $1.1 billion in value creation through cost synergies.

Umpqua Holdings Corporation (NASDAQ: UMPQ) will host its Q3 2021 earnings conference call on October 21, 2021, at 10:00 a.m. PT. The financial results are set to be released post-market on October 20, 2021. Participants can join by calling (866) 440-7407 and entering conference ID: 4277385. A re-broadcast will follow the call and will also be available as an audiocast on the Company's investor relations page.

Umpqua Holdings Corporation (NASDAQ: UMPQ) has appointed Jacquelynne Bohlen as the new head of investor relations, succeeding Drew Anderson, who has been promoted to chief administrative officer. Bohlen brings 20 years of financial services experience, previously serving at Keefe, Bruyette & Woods. Under her leadership, Umpqua aims to enhance relationships with shareholders and the investment community. CEO Cort O'Haver expressed confidence in Bohlen's ability to support the company's strategic initiatives and maintain investor relations excellence.

Umpqua Holdings Corporation (NASDAQ: UMPQ) has announced a quarterly cash dividend of $0.21 per common share, reflecting its commitment to returning value to shareholders. The dividend will be payable on August 31, 2021, to shareholders of record as of August 20, 2021. This move underscores the company's stability and confidence in its ongoing operations, aiming to attract and retain investors while enhancing shareholder income.

Umpqua Bank's 2021 Business Barometer reveals a surge in optimism among small and middle market companies following the pandemic. The study, involving 1,200 leaders, shows that 96% of middle market firms made significant operational changes, with 55% anticipating economic improvement and 62% expecting revenue growth. However, challenges like workforce shortages and supply chain disruptions remain, impacting 55% and 88% of businesses, respectively. Despite these hurdles, over half of middle market companies are considering expansion and acquisition opportunities, reflecting a resilient shift in business strategies.

Umpqua Holdings Corporation (NASDAQ: UMPQ) announced a new share repurchase program authorizing the purchase of up to $400 million of common stock over the next twelve months. This program replaces the previous one set to expire on July 31, 2021. The repurchases will occur through various methods, including open market transactions and may be adjusted based on market conditions and regulatory approvals.

The company has received all necessary regulatory approvals for this initiative, which aims to enhance shareholder value.

Umpqua Holdings Corporation reported strong financial results for Q2 2021, showcasing a net income of $53 million and earnings per diluted share of $0.53. Net interest income increased by $8.3 million, attributed to higher loan balances. However, non-interest income fell by $17.7 million, primarily due to a decrease in mortgage banking revenue. The total risk-based capital ratio stands at 15.4%, reflecting solid capital management. The company also announced a quarterly dividend of $0.21 per share. Umpqua's focus on growth is evident in their non-PPP loan performance and optimistic market outlook.

Umpqua Holdings Corporation (NASDAQ: UMPQ) will host its Q2 2021 earnings conference call on July 22, 2021, at 10:00 a.m. PT. The financial results are set to be released post-market on July 21, 2021. The call will include updates on recent activities and a live Q&A session. Interested participants can join by dialing (866) 440-7407 and using conference ID 3759164. A re-broadcast will be available later that day, and the call can also be accessed via audiocast on the company's investor relations page.

Umpqua Bank has been recognized as the top bank in the Northwest for customer satisfaction in the J.D. Power 2021 U.S. Retail Banking Satisfaction Study. This accolade reflects the bank's commitment to supporting customers during the pandemic. Umpqua's unique human digital banking strategy, launched with the Umpqua Go-To platform, has enhanced customer relations and support, especially amid economic challenges. The bank's focus on personalized service and strong community engagement has helped it gain significant recognition, including previous awards for customer engagement and community support.