PORTLAND, Ore. (AP) — Umpqua Holdings Corp. (UMPQ) on Wednesday reported second-quarter earnings of $116.1 million.
The bank, based in Portland, Oregon, said it had earnings of 53 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The regional bank posted revenue of $331.8 million in the period. Its revenue net of interest expense was $320.8 million, also beating Street forecasts.
Umpqua shares have increased 20% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.17, a rise of 63% in the last 12 months.