Segment Information

9 Months Ended

Sep. 30, 2012

Segment Information [Abstract]

Segment Information

Note 15 – 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 September 30, 2012, the Community Banking segment operated 193 locations throughout Oregon, California, Washington, and Northern 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, Inc. an affiliate of the Bank, 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 September 30, 2012
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Interest income	$	105,352	$	3,235	$	5,521	$	114,108
Interest expense		11,137		197		734		12,068
Net interest income		94,215		3,038		4,787		102,040
Provision for non-covered loan and lease losses		7,078		-		-		7,078
Provision for covered loan and lease losses		2,927		-		-		2,927
Non-interest income		5,805		3,370		24,504		33,679
Non-interest expense		72,947		3,743		10,284		86,974
Income before income taxes		17,068		2,665		19,007		38,740
Provision for income taxes		5,031		953		7,603		13,587
Net income		12,037		1,712		11,404		25,153
Dividends and undistributed earnings allocated
to participating securities		170		-		-		170
Net earnings available to common shareholders	$	11,867	$	1,712	$	11,404	$	24,983

	Nine months ended September 30, 2012
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Interest income	$	318,007	$	10,704	$	14,633	$	343,344
Interest expense		35,245		694		1,998		37,937
Net interest income		282,762		10,010		12,635		305,407
Provision for non-covered loan and lease losses		16,883		-		-		16,883
Provision for covered loan losses		4,302		-		-		4,302
Non-interest income		26,178		10,220		53,444		89,842
Non-interest expense		223,939		11,423		26,244		261,606
Income before income taxes		63,816		8,807		39,835		112,458
Provision for income taxes		19,422		3,169		15,934		38,525
Net income		44,394		5,638		23,901		73,933
Dividends and undistributed earnings allocated
to participating securities		499		-		-		499
Net earnings available to common shareholders	$	43,895	$	5,638	$	23,901	$	73,434

	Three months ended September 30, 2011
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Interest income	$	119,385	$	3,506	$	3,636	$	126,527
Interest expense		17,872		469		652		18,993
Net interest income		101,513		3,037		2,984		107,534
Provision for non-covered loan and lease losses		9,089		-		-		9,089
Provision for covered loan and lease losses		4,420		-		-		4,420
Non-interest income		14,179		3,397		7,202		24,778
Non-interest expense		77,187		3,720		5,317		86,224
Income before income taxes		24,996		2,714		4,869		32,579
Provision for income taxes		7,800		969		1,948		10,717
Net income		17,196		1,745		2,921		21,862
Dividends and undistributed earnings allocated
to participating securities		105		-		-		105
Net earnings available to common shareholders	$	17,091	$	1,745	$	2,921	$	21,757

(in thousands)
	Nine months ended September 30, 2011
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Interest income	$	360,395	$	9,277	$	10,164	$	379,836
Interest expense		54,703		1,514		1,822		58,039
Net interest income		305,692		7,763		8,342		321,797
Provision for non-covered loan and lease losses		39,578		-		-		39,578
Provision for covered loan losses		15,443		-		-		15,443
Non-interest income		37,947		10,664		17,379		65,990
Non-interest expense		227,898		11,763		13,971		253,632
Income before income taxes		60,720		6,664		11,750		79,134
Provision for income taxes		18,974		2,346		4,700		26,020
Net income		41,746		4,318		7,050		53,114
Dividends and undistributed earnings allocated
to participating securities		253		-		-		253
Net earnings available to common shareholders	$	41,493	$	4,318	$	7,050	$	52,861

(in thousands)
	September 30, 2012
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Total assets	$	10,824,278	$	74,273	$	630,413	$	11,528,964
Total loans and leases (covered and non-covered)	$	6,344,647	$	59,536	$	359,287	$	6,763,470
Total deposits	$	8,708,805	$	352,040	$	39,084	$	9,099,929

	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