Umpqua Slips To Loss In Q1

(RTTNews) - Umpqua Holdings Corp. (UMPQ) reported that its net loss for the first quarter of 2020 was $28.3 million or $0.13 per share, compared to net income of $74.0 million or $0.34 per share for the first quarter of 2019.

Net interest income for the quarter was $218.5 million down from $237.7 million in the prior year.

Total non-interest income was $40.64 million, down from $45.74 million last year.

The company said it is currently analyzing the value of goodwill within its operating segments related to its prior acquisitions, and believes the value of goodwill has been significantly impaired.

The company anticipates the analysis will be completed prior to filing the Quarterly Report on Form 10-Q with the Securities and Exchange Commission in May 2020.