Umpqua Holdings Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Net Charge-Offs for the Fourth Quarter of 2016
For the year, the company reported total interest income of $910.639 million compared to $929.866 million a year ago. Net interest income was $844.588 million compared to $871.634 million a year ago. Income before provision for income taxes was of $365.699 million compared to $347.127 million a year ago. Net earnings available to common shareholders were of $232.815 million or $1.05 per diluted share compared to $222.182 million or $1.01 per basic and diluted share a year ago. Return on average assets was 0.97% compared to 0.97% a year ago. Return on average tangible assets was 1.04% compared to 1.06% a year ago. Return on average common equity was 5.97% compared to 5.82% a year ago. Return on average tangible common equity was 11.25% compared to 12.08% a year ago. Non-GAAP return on average assets was 1.09% compared to 1.15% a year ago. Non-GAAP Return on average tangible assets was 1.18% compared to 1.26% a year ago. Non-GAAP return on average common equity was 6.74% compared to 6.91% a year ago. Non-GAAP return on average tangible common equity was 12.70% compared to 14.35% a year ago. Book value per common share was $17.79 compared to $17.48 a year ago. Tangible book value per common share was $9.50 against $9.16 a year ago.
The company reported net charge-offs of $12.879 million for the fourth quarter of 2016 compared to $4.356 million a year ago.