Umpqua Holdings Corporation (UMPQ) has reported 3.29 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $46 million, or $0.21 a share in the quarter, compared with $47.57 million, or $0.22 a share for the same period last year.     

Revenue during the quarter went down marginally by 1.37 percent to $255.28 million from $258.83 million in the previous year period. Net interest income for the quarter dropped 5.04 percent over the prior year period to $206.72 million. Non-interest income for the quarter rose 31.06 percent over the last year period to $60.22 million.

Umpqua Holdings Corporation has made provision of $11.67 million for loan losses during the quarter, up 142.01 percent from $4.82 million in the same period last year.

Net interest margin contracted 49 basis points to 3.85 percent in the quarter from 4.34 percent in the last year period. Efficiency ratio for the quarter improved to 68.15 percent from 69.48 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.

“Despite some of the near-term headwinds we continue to face, I’m pleased with the progress we’ve made so far on the key priorities that we outlined for 2017,” said Cort O'Haver, president and chief executive officer of Umpqua Holdings Corporation. "Loans and leases increased by $321 million, or 7% annualized, during the first quarter, reflecting balanced growth across our commercial, consumer, leasing and commercial real-estate portfolios. There’s strong momentum driving this loan growth, and with a slight expansion in the net interest margin and as we head into the seasonally stronger mortgage banking quarters, I feel good about how we’re positioned for the remainder of the year."

Deposits stood at $19,167.29 million as on Mar. 31, 2017, up 5.53 percent compared with $18,162.97 million on Mar. 31, 2016.

Investments stood at $3,258.77 million as on Mar. 31, 2017, up 27.45 percent or $701.92 million from year-ago. Shareholders equity was at $3,931.15 million as on Mar. 31, 2017.

Return on assets moved down 7 basis points to 0.75 percent in the quarter from 0.82 percent in the last year period. At the same time, return on equity decreased 19 basis points to 4.74 percent in the quarter from 4.93 percent in the last year period.

Nonperforming assets moved down 18.93 percent or $13.75 million to $58.85 million on Mar. 31, 2017 from $72.60 million on Mar. 31, 2016. Meanwhile, nonperforming assets to total assets was 0.24 percent in the quarter, down from 0.30 percent in the last year period.

Book value per share was $17.84 for the quarter, up 1.25 percent or $0.22 compared to $17.62 for the same period last year.