Umpqua Holdings Corporation announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the fourth quarter 2013, the company reported net earnings available to common shareholders of $25.1 million or $0.22 per diluted common share, compared to net earnings available to common shareholders of $23.3 million or $0.21 per diluted common share, for the third quarter of 2013, and $27.8 million or $0.25 per diluted common share, for the same period in the prior year. For the fourth quarter of 2013, the company reported operating earnings of $27.9 million or $0.25 per diluted common share, compared to operating earnings of $26.5 million or $0.24 per diluted common share, for the third quarter of 2013, and $29.3 million or $0.26 per diluted common share, for the same period in the prior year. Book value per common share was $15.43 and tangible book value per common share was $8.49. Net interest income was $110 million against $101.8 million of prior year. Income before provision for income taxes was $39 million against $42.8 million for the same period last year. Return on average assets and return on average tangible assets were 0.86% and 0.92% against 0.95% and 1.01% of prior year period. Return on average common equity and return on average tangible common equity were 5.73% and 10.38% against 6.42% and 10.61% of prior year period. Non-GAAP Return on average assets and return on average tangible assets were 0.95% and 1.00% against 1.02% and 1.06% of prior year period. Non-GAAP Return on average common equity and return on average tangible common equity were 6.38% and 11.56% against 6.77% and 11.19% of prior year period.

The company announced full year 2013 net earnings available to common shareholders of $97.6 million or $0.87 per diluted common share, compared to net earnings available to common shareholders of $101.2 million or $0.90 per diluted common share, for 2012. Operating earnings were $105.7 million or $0.94 per diluted common share, for 2013, compared to operating earnings of $103.9 million or $0.93 per diluted common share, for 2012. Net interest income was $405 million against $407.2 million of prior year. Income before provision for income taxes was $151 million against $155.2 million for the last year. Return on average assets and return on average tangible assets were 0.92% and 0.98% against 0.905 and 0.96% of prior year period. Return on average common equity and return on average tangible common equity were 6.11% and 10.60% against 6.11% and 10.14% of prior year period.