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EX - 99.1 2 umpq - 20210930ex991earnings.htm PRESS RELEASE ANNOUNCING THIRD QUARTER 2021 FINANCIAL RESULTS EXHIBIT 99.1 0 Umpqua Holdings Corporation $ 0.49 Third quarter 2021 Results • Net income of $ 108.1 million , or $ 0.49 per common share Non - PPP loan balances increased $ 479.7 million or 2.3 % Deposit balances increased $ 754.8 million or 2.9 % • Provision for credit losses recapture of $ 18.9 million as modeled economic conditions improve UMPQUA REPORTS THIRD QUARTER 2021 RESULTS $ 108 Net income ( $ in millions ) Net earnings per diluted common share CEO Commentary 15.88 % 14.9 % Return on average tangible Total risk - based capital ratio common equity ( estimated ) ( " ROATCE " ) 1 " Umpqua's third quarter results are highlighted by the robust non - PPP ( Paycheck Protection Program ) loan growth of $ 480 million and continued reduction of our total cost of deposits , now down to just eight basis points " said Cort O'Haver , President and CEO . " Our growth initiatives will continue as we work to execute our previously announced combination with Columbia Banking System . Combined , we will be the leading regional bank focused on the West Coast . We are creating a company with enhanced scale to fuel organic growth as we continue to create value to our shareholders . " Cort O'Haver , President and CEO of Umpqua Holdings Corporation