Segment Information

6 Months Ended

Jun. 30, 2012

Segment Information [Abstract]

Segment Information

Note 14 – Segment Information

The Company operates three primary segments: Community Banking, Home Lending and Wealth Management. The Community Banking segment's principal business focus is the offering of loan and deposit products to business and retail customers in its primary market areas. As of June 30, 2012, the Community Banking segment operated 193 locations throughout Oregon, Northern California, Washington, and Nevada.

The Home Lending segment, which operates as a division of the Bank, originates, sells and services residential mortgage loans.

The Wealth Management segment consists of the operations of Umpqua Investments, which offers a full range of retail brokerage services and products to its clients who consist primarily of individual investors, and Umpqua Private Bank, which serves high net worth individuals with liquid investable assets and provides customized financial solutions and offerings. The Company accounts for intercompany fees and services between Umpqua Investments and the Bank at estimated fair value according to regulatory requirements for services provided.Intercompany items relate primarily to management services, referral fees and deposit rebates.

Summarized financial information concerning the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables:

Segment Information

(in thousands)
	Three Months Ended June 30, 2012
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Interest income	$	105,375	$	3,351	$	4,868	$	113,594
Interest expense		11,687		230		665		12,582
Net interest income		93,688		3,121		4,203		101,012
Provision for non-covered loan and lease losses		6,638		-		-		6,638
Provision for covered loan and lease losses		1,406		-		-		1,406
Non-interest income		9,470		3,799		15,657		28,926
Non-interest expense		74,234		3,990		8,712		86,936
Income before income taxes		20,880		2,930		11,148		34,958
Provision for income taxes		6,169		1,053		4,459		11,681
Net income		14,711		1,877		6,689		23,277
Dividends and undistributed earnings allocated
to participating securities		162		-		-		162
Net earnings available to common shareholders	$	14,549	$	1,877	$	6,689	$	23,115

	Six Months Ended June 30, 2012
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Interest income	$	212,655	$	7,469	$	9,112	$	229,236
Interest expense		24,108		497		1,264		25,869
Net interest income		188,547		6,972		7,848		203,367
Provision for non-covered loan and lease losses		9,805		-		-		9,805
Provision for covered loan losses		1,375		-		-		1,375
Non-interest income		20,373		6,850		28,940		56,163
Non-interest expense		150,992		7,680		15,960		174,632
Income before income taxes		46,748		6,142		20,828		73,718
Provision for income taxes		14,391		2,216		8,331		24,938
Net income		32,357		3,926		12,497		48,780
Dividends and undistributed earnings allocated
to participating securities		329		-		-		329
Net earnings available to common shareholders	$	32,028	$	3,926	$	12,497	$	48,451

	Three Months Ended June 30, 2011
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Interest income	$	121,953	$	3,304	$	3,160	$	128,417
Interest expense		18,019		465		572		19,056
Net interest income		103,934		2,839		2,588		109,361
Provision for non-covered loan and lease losses		15,459		-		-		15,459
Provision for covered loan and lease losses		3,755		-		-		3,755
Non-interest income		11,092		3,671		4,864		19,627
Non-interest expense		74,952		3,941		4,314		83,207
Income before income taxes		20,860		2,569		3,138		26,567
Provision for income taxes		6,381		1,146		1,255		8,782
Net income		14,479		1,423		1,883		17,785
Dividends and undistributed earnings allocated
to participating securities		86		-		-		86
Net earnings available to common shareholders	$	14,393	$	1,423	$	1,883	$	17,699

(in thousands)
	Six Months Ended June 30, 2011
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Interest income	$	241,010	$	5,771	$	6,528	$	253,309
Interest expense		36,831		1,045		1,170		39,046
Net interest income		204,179		4,726		5,358		214,263
Provision for non-covered loan and lease losses		30,489		-		-		30,489
Provision for covered loan losses		11,023		-		-		11,023
Non-interest income		23,768		7,267		10,177		41,212
Non-interest expense		150,711		8,043		8,654		167,408
Income before income taxes		35,724		3,950		6,881		46,555
Provision for income taxes		11,174		1,377		2,752		15,303
Net income		24,550		2,573		4,129		31,252
Dividends and undistributed earnings allocated
to participating securities		148		-		-		148
Net earnings available to common shareholders	$	24,402	$	2,573	$	4,129	$	31,104

(in thousands)
	June 30, 2012
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Total assets	$	10,860,852	$	70,119	$	590,926	$	11,521,897
Total loans and leases (covered and non-covered)	$	6,257,993	$	55,417	$	344,985	$	6,658,395
Total deposits	$	8,791,677	$	309,454	$	31,050	$	9,132,181

	December 31, 2011
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Total assets	$	11,086,493	$	53,044	$	423,818	$	11,563,355
Total loans and leases (covered and non-covered)	$	6,171,368	$	38,810	$	300,371	$	6,510,549
Total deposits	$	8,830,353	$	390,992	$	15,345	$	9,236,690