PORTLAND, Ore. (AP) — Umpqua Holdings Corp. (UMPQ) on Monday reported fourth-quarter net income of $83 million.
The bank, based in Portland, Oregon, said it had earnings of 38 cents per share. Earnings, adjusted for non-recurring costs, were 46 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The regional bank posted revenue of $387.1 million in the period. Its revenue net of interest expense was $340.4 million, also missing Street forecasts.
For the year, the company reported profit of $336.8 million, or $1.55 per share. Revenue was reported as $1.27 billion.
