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DailyTidings.com
  • Profits dip for Umpqua Bank parent

  • Umpqua Holdings, the parent company of Umpqua Bank, reported second-quarter net earnings of $17.1 million, or 9 cents per share, compared with a net of $26.1 million, or 23 cents per share, a year ago.
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  • Umpqua Holdings, the parent company of Umpqua Bank, reported second-quarter net earnings of $17.1 million, or 9 cents per share, compared with a net of $26.1 million, or 23 cents per share, a year ago.
    Deposits, aside from its acquisition and sale of some branches of Sterling Bank, grew by $189 million.
    Operating profit, excluding merger-related expenses, grew to $53.9 million, or 27 cents per share, versus $26.9 million, or 24 cents per share, a year ago.
    Through six months of 2014, Umpqua showed a profit of $35.8 million, or 23 cents per share, down 27 percent from the first six months of last year.
    — Greg Stiles
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