UMPQ - Umpqua Holdings: Balancing Act Before Dividend Cut
Umpqua's (UMPQ) 2Q 2020 was a balancing act with a big bang in mortgage banking balanced by the shrinking margin and another huge credit loss provision. Management fought hard for unsustainable earnings; sustainability, of course, being very important in Oregon.
Source: Robintriggs.co.uk
As a long-time shareholder, I have always appreciated UMPQ's position as the largest independent bank in the Pacific Northwest with its $29.6 billion in assets, conservative management, focus on real estate lending and customer service and, at least until COVID-19, a clean balance sheet. Then banks worldwide were hit by margin compression as