Content analysis
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Legalese | ||
Litigous | ||
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New words:
ABG, air, answer, Antitrust, Asbury, automotive, bilateral, Camenisch, Casey, casual, clearable, Clearinghouse, Coalition, COLB, composed, decedent, defrauding, delisted, dining, discovery, dispute, divest, divested, downsizing, effectuated, exacerbated, formation, franchisor, Gourmet, heard, invasion, Kenneth, knew, Lake, leave, legacy, lockbox, motion, North, Northern, oral, Oswego, PA, perpetual, perspective, Petition, Philadelphia, Ponzi, population, predominantly, premier, prescribed, proceed, progressing, recalibrating, Red, reply, Road, Robin, RRGB, Russian, scheme, shortfall, shutdown, spanning, statutorily, sunset, suppressing, Tacoma, tendency, tenor, ticker, tough, trailing, umbrella, unclear, unconditionally, underserved, uniform, unsubstantiated, UPH, UpHealth, upward, variance, vault, vigorously, WSM
Removed:
amortize, analyze, annuity, breached, Bureau, capitalization, comparing, Comptroller, continuing, crafted, customary, differential, explore, facility, fewer, FINRA, flat, frame, Governor, immaterial, impacting, improved, incremental, interbank, nondeductible, optimal, Overnight, Paced, passed, phased, prolonged, qualitatively, quantitatively, reassessed, remained, remove, removing, resolve, Simplifying, slowly, successor, SW, technical
Financial report summary
?Risks
- Combining Umpqua and Columbia may be more difficult, costly or time consuming than expected and the anticipated benefits and cost savings of the merger may not be realized.
- The COVID-19 pandemic has impacted our business, and the ultimate impact will depend on future developments, which are highly uncertain and cannot be predicted.
- The CECL accounting for the ACL may create volatility in our provision for credit losses and could have a material impact on our financial condition or results of operations.
Management Discussion
- Additionally, management believes tangible common equity and the tangible common equity ratio are meaningful measures of capital adequacy. Umpqua believes the exclusion of certain intangible assets in the computation of tangible common equity and the tangible common equity ratio provides a meaningful base for period-to-period and company-to-company comparisons, which management believes will assist investors in analyzing the operating results and capital of the Company. Tangible common equity is calculated as total shareholders' equity less goodwill and other intangible assets, net (excluding MSRs). In addition, tangible assets are total assets less goodwill and other intangible assets, net (excluding MSRs). The tangible common equity ratio is calculated as tangible common shareholders' equity divided by tangible assets. Tangible common equity and the tangible common equity ratio are considered non-GAAP financial measures and should be viewed in conjunction with total shareholders' equity and the total shareholders' equity ratio.