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$ 0.53 Net earnings per diluted common share Second quarter 2021 Results income of $ 116.1 per common share Umpqua Holdings Corporation Non - PPP loan balances increased $ 650.5 million or 3.2 % Deposit balances increased $ 266.7 million or 1.0 % SECOND QUARTER HIGHLIGHTS Net Interest Income and NIM Non - Interest Income and Expense Credit Quality Capital CEO Commentary " Umpqua's strong results this past quarter demonstrate both the company's commitment to generating long - term value for shareholders and our optimism for growth in the markets we serve . I'm very pleased to see the success of our balanced growth efforts and unique Human Digital value proposition reflected in our record growth in non - PPP ( Paycheck Protection Program ) loans and increase in core bank revenue . Our brand momentum within our markets continues to build and we look forward to robust customer and talent acquisition in the quarters to come . " Cort O'Haver , President and CEO of Umpqua Holdings Corporation 2Q21 KEY FINANCIAL DATA PERFORMANCE METRICS Return on average assets Notable items ● ● • Non - interest income decreased by $ 17.7 million due to lower net mortgage banking revenue of $ 20.6 million . ● UMPQUA REPORTS SECOND QUARTER 2021 RESULTS $ 116 17.33 % Net income ( $ in millions ) Return on average tangible common equity ( " ROATCE " ) ¹ ● • Non - interest expense increased by $ 1.8 million due to exit disposal costs of $ 4.7 million as a result of store consolidations and back - office lease exits . ● Net interest income increased by $ 8.3 million on a quarter to quarter basis primarily due to higher average loan balances and lower interest expense in the current period . • Net charge - offs decreased by eight basis points to 0.25 % of average loans and leases ( annualized ) . ● Net interest margin was 3.20 % , up two basis points from the prior period due to higher average loan balances and lower interest expense . ● A recapture of the provision for credit losses of $ 23.0 million was recorded in the period as economic conditions improve . Non - performing assets to total assets decreased two basis points to 0.17 % from 0.19 % . Estimated total risk - based capital ratio of 15.4 % and estimated Tier 1 Risk Based Capital ratio of 12.4 % . Paid a quarterly cash dividend of $ 0.21 per common share on May 28 , 2021 to shareholders of record as of May 18 , 2021 . ● $ 4.5 million gain on the sale of Umpqua Investments completed during the quarter . ● • $ 4.7 million in exit disposal costs related to store consolidations and back - office lease exits . Provision for credit losses recapture of $ 23.0 million as economic conditions improve Return on average tangible common equity Net interest margin Efficiency ratio - consolidated Loan to deposit ratio INCOME STATEMENT ( $ in 000s , excl . per share data ) Net interest income ( Recapture ) provision for credit losses Non - interest income Non - interest expense Earnings per common share - diluted Dividends paid per share BALANCE SHEET Total assets Loans and leases Total deposits Tangible book value per share¹ Book value per common shares 2Q21 1.54 % 17.33 % 3.20 % 58.96 % 84.67 % 2Q21 $ 229,763 ( $ 22,996 ) $ 91,075 $ 189,400 $ 0.53 $ 0.21 2Q21 $ 30.3 B $ 22.1 B $ 26.2 B $ 12.49 $ 12.54 Umpqua Holdings Corporation Contacts : Ron Farnsworth , EVP / Chief Financial Officer , 503-727-4108 , ronfarnsworth@umpquabank.com 15.4 % Total risk - based capital ratio ( estimated ) 1Q21 1.49 % 16.43 % 3.18 % 56.74 % 85.61 % 1Q21 $ 221,431 EXHIBIT 99.1 $ $ 108,800 $ 187,592 $ 0.49 $ 0.21 1Q21 $ 30.0 B $ 22.2 B $ 25.9 B $ 12.10 $ 12.16 2Q20 0.73 % 8.53 % 3.09 % 55.40 % 91.25 % 2Q20 $ 212,503 $ 87,085 $ 115,480 $ 181,910 $ 0.24 $ 0.21 2Q20 $ 29.6 B $ 22.7 B $ 24.8 B $ 11.44 $ 11.53