Umpqua Holdings Corp., the parent company of Umpqua Bank, reported an 89 percent increase in profits for the first quarter of this year compared with last, the Register-Guard newspaper of Eugene, Ore., reported.
The profit for the most recent quarter was $25.5 million, or 23 cents a share. Contributing to the profits were record revenues from Umpqua’s home loan division of $13.1 million, on $403 million worth of closed loans, according to the company.
Portland-based Umpqua also continued to whittle down its problem loans while increasing the total amount of loans it has outstanding.
