Junior Subordinated Debentures (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Junior Subordinated Debentures

Following is information about the Company’s wholly-owned trusts (“Trusts”) as of December 31, 2013: 

(dollars in thousands)

		Issued		Carrying			Effective
Trust Name	Issue Date	Amount		Value (1)		Rate (2)	Rate (3)	Maturity Date	Redemption Date
AT FAIR VALUE:
Umpqua Statutory Trust II	October 2002	$	20,619	$	14,791	Floating (4)	5.00%	October 2032	October 2007
Umpqua Statutory Trust III	October 2002	30,928		22,392		Floating (5)	5.10%	November 2032	November 2007
Umpqua Statutory Trust IV	December 2003	10,310		6,978		Floating (6)	4.57%	January 2034	January 2009
Umpqua Statutory Trust V	December 2003	10,310		6,957		Floating (6)	4.58%	March 2034	March 2009
Umpqua Master Trust I	August 2007	41,238		22,696		Floating (7)	2.89%	September 2037	September 2012
Umpqua Master Trust IB	September 2007	20,619		13,460		Floating (8)	4.58%	December 2037	December 2012
		134,024		87,274
AT AMORTIZED COST:
HB Capital Trust I	March 2000	5,310		6,218		10.875%	8.39%	March 2030	March 2010
Humboldt Bancorp Statutory Trust I	February 2001	5,155		5,819		10.200%	8.37%	February 2031	February 2011
Humboldt Bancorp Statutory Trust II	December 2001	10,310		11,271		Floating (9)	3.04%	December 2031	December 2006
Humboldt Bancorp Statutory Trust III	September 2003	27,836		30,344		Floating (10)	2.50%	September 2033	September 2008
CIB Capital Trust	November 2002	10,310		11,131		Floating (5)	3.02%	November 2032	November 2007
Western Sierra Statutory Trust I	July 2001	6,186		6,186		Floating (11)	3.82%	July 2031	July 2006
Western Sierra Statutory Trust II	December 2001	10,310		10,310		Floating (9)	3.84%	December 2031	December 2006
Western Sierra Statutory Trust III	September 2003	10,310		10,310		Floating (12)	3.14%	September 2033	September 2008
Western Sierra Statutory Trust IV	September 2003	10,310		10,310		Floating (12)	3.14%	September 2033	September 2008
		96,037		101,899
	Total	$	230,061	$	189,173

(1) Includes purchase accounting adjustments, net of accumulated amortization, for junior subordinated debentures assumed in connection with previous mergers as well as fair value adjustments related to trusts recorded at fair value. 

(2) Contractual interest rate of junior subordinated debentures. 

(3) Effective interest rate based upon the carrying value as of December 31, 2013. 

(4) Rate based on LIBOR plus 3.35%, adjusted quarterly. 

(5) Rate based on LIBOR plus 3.45%, adjusted quarterly. 

(6) Rate based on LIBOR plus 2.85%, adjusted quarterly. 

(7) Rate based on LIBOR plus 1.35%, adjusted quarterly. 

(8) Rate based on LIBOR plus 2.75%, adjusted quarterly. 

(9) Rate based on LIBOR plus 3.60%, adjusted quarterly.

(10)  Rate based on LIBOR plus 2.95%, adjusted quarterly. 

(11)  Rate based on LIBOR plus 3.58%, adjusted quarterly. 

(12)  Rate based on LIBOR plus 2.90%, adjusted quarterly.