Umpqua Holdings Corporation announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2011. For the quarter, the company reported net interest income of $106,655,000 against $107,115,000 a year ago. Income before provision for income taxes was $32,104,000 against $12,361,000 a year ago. Net earnings available to common shareholders were $21,279,000 or $0.19 per diluted share against net earnings available to common shareholders of $8,140,000, or $0.07 per diluted share ago. Book value per common share was $14.91 against $14.34 a year ago. Tangible book value per common share was $8.87 against $8.39 a year ago. Return on average assets was 0.73% against 0.28% a year ago. Return on average tangible assets was 0.73% against 0.28% a year ago. Return on average common equity was 5.03% against 5.11% a year ago. Return on average tangible common equity was 8.43% against 8.55% a year ago. Non-GAAP return on average assets was 0.74% against 0.31% a year ago. Non-GAAP return on average tangible assets was 0.79% against 0.33 a year ago. Non-GAAP return on average common equity was 5.11% against 2.16% a year ago. Non-GAAP return on average tangible common equity was 8.57% against 3.67% a year ago. Operating earnings, defined as earnings available to common shareholders before gains or losses on junior subordinated debentures carried at fair value, net of tax, bargain purchase gains on acquisitions, net of tax, merger related expenses, net of tax, and goodwill impairment, were $21.6 million, or $0.19 per diluted common share for the fourth quarter of 2011, compared to operating earnings of $22.1 million, or $0.19 per diluted common share for the third quarter of 2011, and $9.0 million, or $0.08 per diluted common share, for the same period in the prior year. Total interest income was $121,917,000 against $130,677,000 reported last year. For the year, the company reported net interest income of $428,452,000 against $394,784,000 a year ago. Income before provision for income taxes was $111,238,000 against $34,131,000 a year ago. Net earnings available to common shareholders were $74,140,000 or $0.65 per diluted share against net earnings available to common shareholders of $16,067,000, or $0.15 per diluted share ago. Book value per common share was $14.91 against $14.34 a year ago. Return on average assets was 0.64% against 0.15% a year ago. Non-GAAP return on average assets was 0.65% against 0.12% a year ago. Non-GAAP return on average tangible assets was 0.69% against 0.13% a year ago. Non-GAAP return on average common equity was 4.53% against 0.83% a year ago. Non-GAAP return on average tangible common equity was 7.63% against 1.45% a year ago. For the full year 2011, the company reported operating earnings of $75.7 million, or $0.66 per diluted common share, compared to operating earnings of $13.2 million, or $0.12 per diluted common share for the prior year. Total interest income was $501,753,000 against $488,596,000 reported last year. The company also announced net charge offs for the fourth quarter of 2011. For the period, the company reported et charge-offs of $6,606,000 against $23,744,000 a year ago. Return on average tangible assets was 0.68% against 0.16% a year ago. Return on average common equity was 4.43% against 1.01% a year ago. Return on average tangible common equity was 7.47% against 1.76% a year ago.