Umpqua (UMPQ) Tops Q2 EPS by 2c

Umpqua (NASDAQ: UMPQ) reported Q2 EPS of $0.31, $0.02 better than the analyst estimate of $0.29.

“Despite the continuing low interest rate environment, Umpqua's financial performance for the second quarter was solid; highlighted by strong performance in the mortgage banking business and double-digit growth in loans and leases, combined with further reductions in the core expense base from ongoing efficiency initiatives,” said Ray Davis, president and CEO of Umpqua Holdings Corporation. “We recognize that ongoing margin pressure increases our need to become as efficient as possible, while not eroding the quality of the customer service experience the company provides. As we move into the second half of the year, our loan pipeline remains at record levels and further efficiency initiatives are in process. We will also continue to look for, and take advantage of, growth opportunities such as our FinPac and Pivotus subsidiaries.”

For earnings history and earnings-related data on Umpqua (UMPQ) click here.

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