Umpqua Reports Second Quarter 2020 Results
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Umpqua (UMPQ) Tops Q2 EPS by 8c
July 22, 2020 4:18 PM EDTUmpqua (NASDAQ: UMPQ) reported Q2 EPS of $0.24, $0.08 better than the analyst estimate of $0.16.
Second Quarter 2020 Highlights (compared to prior quarter):
Net interest income decreased by $6.0 million on a quarter to quarter basis primarily driven by lower average yields on loans and leases, partially offset by a lower cost of interest bearing deposits;Provision for credit losses decreased by $31.0 million, although still elevated from historical levels reflecting the continued influence of the COVID-19 global pandemic on economic forecasts;Net charge-offs decreased by... More