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Umpqua Holdings Corp (UMPQ) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

SEC Filings

Umpqua Holdings Corp

CIK: 1077771 Ticker: UMPQ

EXHIBIT 99.1 
 
 umpquaholdingsa01a06.jpg
 

 
Contacts:
Ron Farnsworth
Bradley Howes
EVP/Chief Financial Officer
SVP/Director of Investor Relations
Umpqua Holdings Corporation
Umpqua Holdings Corporation
503-727-4108
503-727-4226
ronfarnsworth@umpquabank.com
bradhowes@umpquabank.com
 
UMPQUA REPORTS QUARTERLY AND ANNUAL RESULTS

Fourth quarter 2018 net earnings of $80.3 million, or $0.36 per diluted common share
Full-year 2018 net earnings of $316.2 million, or $1.43 per diluted common share
30% increase in year-over-year earnings per share reflecting success of Umpqua Next Gen initiatives
Annual loan and lease growth of 7% and deposit growth of 6%

 
PORTLAND, Ore. – January 23, 2019 Umpqua Holdings Corporation (NASDAQ: UMPQ) (the “Company”) reported net earnings available to common shareholders of $80.3 million for the fourth quarter of 2018, compared to $91.0 million for the third quarter of 2018 and $75.2 million for the fourth quarter of 2017. Earnings per diluted common share were $0.36 for the fourth quarter of 2018, compared to $0.41 for the third quarter of 2018 and $0.34 for the fourth quarter of 2017.

For the twelve months ended December 31, 2018, the Company reported net earnings available to common shareholders of $316.2 million, or $1.43 per diluted common share, up from $242.3 million, or $1.10 per diluted common share, for the twelve months ended December 31, 2017.

“We finished 2018 on a strong note, delivering another quarter of solid financial performance to cap a year in which we made terrific progress implementing the priorities laid out in our Next Gen strategy,” said Cort O'Haver, president and CEO of Umpqua Holdings Corporation. “The significant improvement in Umpqua’s 2018 financial performance reflects our success implementing key Next Gen initiatives, which included generating strong loan and deposit growth and higher fee income to offset the decrease in mortgage banking revenues while reducing expenses. Building on that momentum, we’re focused on achieving the remaining cost savings and continuing to advance our human digital strategy, which we’re confident will continue to drive sustained profitability and long-term shareholder value.”

Notable items that impacted the fourth quarter 2018 financial results included:

$5.8 million net gain related to the previously announced sale of substantially all of the assets of Pivotus, Inc.
$4.0 million in professional fees related to operational excellence initiatives, compared to $3.5 million in the prior quarter.


The following information was filed by Umpqua Holdings Corp (UMPQ) on Wednesday, January 23, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Umpqua Holdings Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flow
Consolidated Statements Of Changes In Shareholders' Equity
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Allowance For Loan And Lease Loss And Credit Quality
Allowance For Loan And Lease Loss And Credit Quality (Activity In The Allowance For Loan And Lease Losses) (Details)
Allowance For Loan And Lease Loss And Credit Quality (Impaired Loans) (Details)
Allowance For Loan And Lease Loss And Credit Quality (Internal Risk Rating By Loan Class) (Details)
Allowance For Loan And Lease Loss And Credit Quality (Narrative) (Details)
Allowance For Loan And Lease Loss And Credit Quality (Non-Accrual Loans And Leases And Loans And Leases Past Due) (Details)
Allowance For Loan And Lease Loss And Credit Quality (Schedule Of Average Recorded Investment And Interest Income Recognized) (Details) (Details)
Allowance For Loan And Lease Loss And Credit Quality (Schedule Of Newly Restructured Loans) (Details)
Allowance For Loan And Lease Loss And Credit Quality (Schedule Of Troubled Debt Restructuring By Accrual Versus Non-Accrual Status) (Details)
Allowance For Loan And Lease Loss And Credit Quality (Summary Of Reserve For Unfunded Commitments Activity) (Details)
Allowance For Loan And Lease Loss And Credit Quality (Tables)
Cash And Cash Equivalents
Cash And Cash Equivalents (Narrative) (Details)
Commitments And Contingencies
Commitments And Contingencies (Future Minimum Lease Payments And Future Minimum Income Receivable Under Non-Cancelable Operating Leases) (Details)
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Schedule Of Commitments And Contingencies) (Details)
Commitments And Contingencies (Tables)
Derivatives
Derivatives (Narrative) (Details)
Derivatives (Offsetting Derivatives Assets) (Details)
Derivatives (Offsetting Derivatives Liabilities) (Details)
Derivatives (Summary Of Types Of Derivatives And Gains (Losses) Recorded) (Details)
Derivatives (Summary Of Types Of Derivatives, Separately By Assets And Liabilities And Fair Value Of Derivatives) (Details)
Derivatives (Tables)
Earnings Per Common Share
Earnings Per Common Share (Computation Of Basic And Diluted Earnings (Loss) Per Common Share) (Details)
Earnings Per Common Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Narrative) (Details)
Fair Value Measurement
Fair Value Measurement (Fair Value Assets And Liabilities Measured On Nonrecurring Basis) (Details)
Fair Value Measurement (Fair Value Option) (Details)
Fair Value Measurement (Losses Resulting From Nonrecurring Fair Value Adjustments) (Details)
Fair Value Measurement (Narrative) (Details)
Fair Value Measurement (Schedule Of A Description Of The Valuation Technique, Unobservable Input, And Qualitative Information For The Company's Assets And Liabilities Classified As Level 3) (Details)
Fair Value Measurement (Schedule Of Carrying Value And Fair Value Of Financial Instruments Not Recorded At Fair Value) (Details)
Fair Value Measurement (Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis) (Details)
Fair Value Measurement (Schedule Of Reconciliation Of Assets And Liabilities Measured At Fair Value Using Significant Unobservable Inputs (Level 3) On A Recurring Basis) (Details)
Fair Value Measurement (Tables)
Federal Funds Purchased
Federal Funds Purchased (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Goodwill And Other Intangible Assets) (Details)
Goodwill And Other Intangible Assets (Narrative) (Details)
Goodwill And Other Intangible Assets (Schedule Of Intangible Assets And Goodwill) (Details)
Goodwill And Other Intangible Assets (Tables)
Income Taxes
Income Taxes (Components Of The Net Deferred Tax (Liabilities) Assets) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Schedule Of Company's Unrecognized Tax Benefits) (Details)
Income Taxes (Schedule Of Components Of Income Tax Expense (Benefit)) (Details)
Income Taxes (Schedule Of Reconciliation Of Income Taxes) (Details)
Income Taxes (Tables)
Interest Bearing Deposits
Interest Bearing Deposits (Major Types Of Interest Bearing Deposits) (Details)
Interest Bearing Deposits (Maturities Of Time Deposits) (Details)
Interest Bearing Deposits (Narrative) (Details)
Interest Bearing Deposits (Remaining Maturities Of Time Deposits Of $100,000 Or More) (Details)
Interest Bearing Deposits (Tables)
Investment Securities
Investment Securities (Amortized Cost, Unrealized Gains And Losses, And Fair Value Of Investment Securities) (Details)
Investment Securities (Investment Securities Pledged To Secure Borrowings And Public Deposits) (Details)
Investment Securities (Narrative) (Details)
Investment Securities (Schedule Of Contractual Maturities Of Investment Securities) (Details)
Investment Securities (Schedule Of Fair Value And Unrealized Losses Of Securities) (Details)
Investment Securities (Tables)
Junior Subordinated Debentures
Junior Subordinated Debentures (Junior Subordinated Debentures) (Details)
Junior Subordinated Debentures (Narrative) (Details)
Junior Subordinated Debentures (Tables)
Loans And Leases
Loans And Leases (Accretable Yield Movement Schedule) (Details)
Loans And Leases (Loans And Leases Sold) (Details)
Loans And Leases (Narrative) (Details)
Loans And Leases (Net Investment In Direct Financing Leases And Loans) (Details)
Loans And Leases (Schedule Of Major Types Of Loans And Leases) (Details)
Loans And Leases (Schedule Of Minimum Lease Payments Receivable) (Details)
Loans And Leases (Tables)
Other Assets
Other Assets (Narrative) (Details)
Other Assets (Schedule Of Other Assets) (Details)
Other Assets (Tables)
Other Real Estate Owned
Other Real Estate Owned (Narrative) (Details)
Other Real Estate Owned (Schedule Of Changes In Other Real Estate Owned) (Details)
Other Real Estate Owned (Tables)
Parent Company Financial Statements
Parent Company Financial Statements (Schedule Of Condensed Balance Sheets) (Details)
Parent Company Financial Statements (Schedule Of Condensed Statements Of Cash Flows) (Details)
Parent Company Financial Statements (Schedule Of Condensed Statements Of Income) (Details)
Parent Company Financial Statements (Tables)
Premises And Equipment
Premises And Equipment (Components Of Premises And Equipment) (Details)
Premises And Equipment (Narrative) (Details)
Premises And Equipment (Tables)
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited) (Details)
Quarterly Financial Information (Unaudited) (Tables)
Regulatory Capital
Regulatory Capital (Summary Of Company's Capital Amounts And Ratios) (Details)
Regulatory Capital (Tables)
Related Party Transactions
Related Party Transactions (Narrative) (Details)
Related Party Transactions (Schedule Of Aggregate Activity Involving Related Party Borrowers) (Details)
Related Party Transactions (Tables)
Residential Mortgage Servicing Rights
Residential Mortgage Servicing Rights (Key Assumptions Used In Measuring The Fair Value Of Msr) (Details)
Residential Mortgage Servicing Rights (Narrative) (Details)
Residential Mortgage Servicing Rights (Schedule Of Changes In Mortgage Servicing Rights) (Details)
Residential Mortgage Servicing Rights (Schedule Of Information Relates To Serviced Loan Portfolio) (Details)
Residential Mortgage Servicing Rights (Sensitivity Analysis Of Current Fair Value To Changes In Discount And Prepayment Speed Assumptions) (Details)
Residential Mortgage Servicing Rights (Tables)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Narrative) (Details)
Revenue From Contracts With Customers (Revenue From Contracts With Customers) (Details)
Revenue From Contracts With Customers (Tables)
Securities Sold Under Agreements To Repurchase
Securities Sold Under Agreements To Repurchase (Narrative) (Details)
Securities Sold Under Agreements To Repurchase (Securities Sold Under Agreements To Repurchase) (Details)
Securities Sold Under Agreements To Repurchase (Tables)
Segment Information
Segment Information (Narrative) (Details)
Segment Information (Summary Of Financial Information By Reportable Segment) (Details)
Segment Information (Tables)
Significant Accounting Policies
Significant Accounting Policies (Correction Of Immaterial Errors) (Details)
Significant Accounting Policies (Narrative) (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies Summary Of Significant Accounting Policies (Details)
Stock Compensation And Share Repurchase Plan
Stock Compensation And Share Repurchase Plan (Narrative) (Details)
Stock Compensation And Share Repurchase Plan (Summary Of Nonvested Restricted Share Activity) (Details)
Stock Compensation And Share Repurchase Plan (Tables)
Term Debt
Term Debt (Narrative) (Details)
Term Debt (Schedule Of Future Contractual Maturities Of Borrowed Funds) (Details)
Term Debt (Tables)
Ticker: UMPQ
CIK: 1077771
Form Type: 10-K Annual Report
Accession Number: 0001077771-19-000011
Submitted to the SEC: Thu Feb 21 2019 12:02:13 PM EST
Accepted by the SEC: Thu Feb 21 2019
Period: Monday, December 31, 2018
Industry: Savings Institution Federally Chartered

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