Portland, Ore.-based Umpqua Holdings Corp. reported third-quarter net income of $84.5 million, or 38 cents per share, down from $91.0 million, or 41 cents per share, in the year-ago period.
The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was 37 cents per share.
The bank reported $28.93 billion in total assets for the third quarter, compared to $27.99 billion at the end of the second quarter and $26.62 billion in the year-ago quarter.
Total loans net of deferred fees and costs at the end of the third quarter stood at $21.52 billion, compared to $20.95 billion in the prior quarter and $19.85 billion at the end of the third quarter of 2018.
Deposits totaled $22.43 billion, compared to $21.82 billion for the quarter ended June 30, and $20.89 billion a year earlier.
The total allowance for credit losses was $161.4 million, compared to $155.9 million in the prior quarter and $148.3 million in the year-ago period. Net charge-offs stood at $18.0 million at the end of the quarter, compared to $13.2 million in the previous quarter and $12.2 million in the year-ago period.