Segment Information

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Segment Information

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, 2013, the Community Banking segment operated 206 locations throughout Oregon, 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 September 30, 2013
	Community			Wealth		Home
	Banking			Management		Lending		Consolidated
Interest income	$	106,848		$	3,746	$	5,366	$	115,960
Interest expense	8,359			178		614		9,151
Net interest income	98,489			3,568		4,752		106,809
Provision for non-covered loan and lease losses	3,008			—		—		3,008
(Recapture of) provision for covered loan losses	(1,904		)	—		—		(1,904		)
Non-interest income	6,970			4,070		15,104		26,144
Non-interest expense	81,561			4,298		9,745		95,604
Income before income taxes	22,794			3,340		10,111		36,245
Provision for income taxes	7,395			1,329		4,044		12,768
Net income	15,399			2,011		6,067		23,477
Dividends and undistributed earnings allocated
to participating securities	196			—		—		196
Net earnings available to common shareholders	$	15,203		$	2,011	$	6,067	$	23,281
	Nine months ended September 30, 2013
	Community			Wealth		Home
	Banking			Management		Lending		Consolidated
Interest income	$	296,943		$	10,957	$	16,408	$	324,308
Interest expense	26,920			551		1,946		29,417
Net interest income	270,023			10,406		14,462		294,891
Provision for non-covered loan and lease losses	12,989			—		—		12,989
(Recapture of) provision for covered loan losses	(4,744		)	—		—		(4,744		)
Non-interest income	19,608			11,803		63,245		94,656
Non-interest expense	225,880			12,531		30,886		269,297
Income before income taxes	55,506			9,678		46,821		112,005
Provision for income taxes	16,323			3,863		18,728		38,914
Net income	39,183			5,815		28,093		73,091
Dividends and undistributed earnings allocated
to participating securities	576			—		—		576
Net earnings available to common shareholders	$	38,607		$	5,815	$	28,093	$	72,515

(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 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

(in thousands)

	September 30, 2013
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Total assets	$	10,799,306	$	117,534	$	652,457	$	11,569,297
Total loans and leases (covered and non-covered)	$	7,031,325	$	101,934	$	492,728	$	7,625,987
Total deposits	$	8,652,751	$	363,010	$	51,479	$	9,067,240

(in thousands)

	December 31, 2012
	Community		Wealth		Home
	Banking		Management		Lending		Consolidated
Total assets	$	10,984,996	$	90,370	$	720,077	$	11,795,443
Total loans and leases (covered and non-covered)	$	6,713,792	$	74,132	$	370,234	$	7,158,158
Total deposits	$	8,968,867	$	382,033	$	28,375	$	9,379,275