Umpqua Holdings Corporation (UMPQ) posted a loss of $0.13 per share in the first quarter due to a surge in provision expense. I'm expecting UMPQ's earnings to return to being in the black in the year ahead, but remain below the 2019 level. Provision expense is likely to remain high in the second quarter as the macroeconomic outlook has worsened since the first quarter. Moreover, the net interest margin will likely contract further in the second quarter due to the federal funds rate cuts in March. On the other hand, the management's expense control efforts