Premises And Equipment

12 Months Ended

Dec. 31, 2012

NOTE 8. PREMISES AND EQUIPMENT

The following table presents the major components of premises and equipment at December 31, 2012 and 2011:


(in thousands)
		2012		2011
Land	$	26,438	$	24,855
Buildings and improvements		134,464		127,028
Furniture, fixtures and equipment		121,086		108,599
Construction in progress		10,488		10,360
Total premises and equipment		292,476		270,842
Less: Accumulated depreciation and amortization		(129,809)		(118,476)
Premises and equipment, net	$	162,667	$	152,366

Depreciation expense totaled $17.6 million, $16.5 million and $14.4 million for the years ended December 31, 2012, 2011 and 2010, respectively.

Umpqua’s subsidiaries have entered into a number of non-cancelable lease agreements with respect to premises and equipment. See Note 20 for more information regarding rental expense, net of rent income, and minimum annual rental commitments under non-cancelable lease agreements.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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