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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 payable on May 28, 2021, to shareholders on record as of May 18, 2021. Umpqua Holdings operates Umpqua Bank, known for its innovative banking solutions, with branches across Oregon, Washington, California, Idaho, and Nevada. The announcement reflects the company's ongoing commitment to returning value to shareholders while maintaining a solid operational presence.
On April 23, 2021, Steward Partners Holdings completed the acquisition of Umpqua Investments from Umpqua Holdings Corporation, rebranding it as Steward Partners Investment Solutions. This strategic move enhances Steward's presence in the Pacific Northwest, adding 22 financial advisors managing $3.4 billion in client assets and contributing $15 million in revenue. The acquisition raises Steward's total managed assets to over $22 billion, bolstering its goal of nationwide expansion.
Umpqua Holdings Corporation reported earnings of $0.49 per share for Q1 2021, driven by strategic growth and expense management. Total assets increased to $30 billion, and total deposits rose to $25.9 billion. However, net interest income fell by $13.5 million, influenced by lower Paycheck Protection Program fees. Non-interest income decreased by $15.2 million due to reduced mortgage banking revenue. Despite these challenges, net charge-offs declined to 0.33%, and the total risk-based capital ratio remained strong at 15.9%. Umpqua aims to enhance shareholder value through continued loan growth.
Umpqua Holdings Corporation (NASDAQ: UMPQ) announced its first quarter 2021 earnings conference call scheduled for April 22, 2021 at 10:00 a.m. PT. The financial results will be disclosed after market close on April 21, 2021. Investors can join the call by dialing (866) 440-7407 and entering conference ID: 7292532. A re-broadcast will be available afterward. Umpqua Holdings operates Umpqua Bank and Umpqua Investments, providing innovative banking solutions across several states including Oregon, Washington, and California.
Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), has appointed Dave Ericksen as its new Senior Vice President and Middle Market Director for the Pacific Northwest region. With over 25 years of banking experience, Ericksen aims to enhance Umpqua's capabilities to support large middle-market companies amid economic uncertainty. His extensive background, including previous roles at US Bank and Key Bank, is expected to drive growth and provide valuable expertise to clients. This strategic hire aligns with Umpqua's goal of recruiting top talent to bolster its service delivery.
Umpqua Holdings Corporation (NASDAQ: UMPQ) announced a quarterly cash dividend of $0.21 per common share, payable on February 26, 2021. Shareholders must be on record by February 16, 2021 to receive this dividend. Umpqua Holdings operates a community bank, Umpqua Bank, with locations in Oregon, Washington, California, Idaho, and Nevada. The company focuses on innovative banking solutions and customer experience and also owns a retail brokerage subsidiary.
Umpqua Holdings Corporation (NASDAQ: UMPQ) reported a net income of $150.7 million for Q4 2020, a significant rise from $124.9 million in Q3 2020 and $83.8 million in Q4 2019. Earnings per share were $0.68, up from $0.57 in the previous quarter. However, the full year showed a net loss of $1.5 billion primarily due to a $1.8 billion goodwill impairment. Notable Q4 highlights included a $12.1 million rise in compensation, $6.5 million in software impairment charges, and a 3% drop in gross loan balances. Despite challenges, the company's fourth-quarter performance highlighted resilience and strategic growth prospects.
Umpqua Holdings Corporation (NASDAQ: UMPQ) will host its fourth quarter 2020 earnings conference call on January 21, 2021, at 10:00 a.m. PT. The call will provide an update on the company’s activities and discuss its financial results for Q4 and full year 2020, to be released after market close on January 20, 2021. Interested participants can join the call by dialing (866) 440-7407 and entering conference ID: 7096769. An audiocast will also be available on the company's investor relations page.
Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), has launched a new community and business banking division aimed at supporting businesses with annual revenues between $1 million and $15 million. Ashley Hayslip has been promoted to lead this division, bringing over 15 years of experience, including her role in the Paycheck Protection Program that provided $2 billion in relief to small businesses. This initiative reflects Umpqua's commitment to serving an underserved segment of the economy critical for recovery and growth.
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