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Junior Subordinated Debentures (Tables)
6 Months Ended
Jun. 30, 2014
Debt Disclosure [Abstract]  
Junior Subordinated Debentures
Following is information about the Company's wholly-owned trusts ("Trusts") as of June 30, 2014:  
(dollars in thousands)
 
 
Issued
 
Carrying
 
 
 
Effective
 
 
Trust Name
Issue Date
 
Amount
 
Value (1)
 
Rate (2)
 
Rate (3)
 
Maturity Date
AT FAIR VALUE:
 
 
 
 
 
 
 
 
 
 
 
Umpqua Statutory Trust II
October 2002
 
$
20,619

 
$
14,946

 
Floating rate, LIBOR plus 3.35%, adjusted quarterly
 
4.93%
 
October 2032
Umpqua Statutory Trust III
October 2002
 
30,928

 
22,619

 
Floating rate, LIBOR plus 3.45%, adjusted quarterly
 
5.02%
 
November 2032
Umpqua Statutory Trust IV
December 2003
 
10,310

 
7,061

 
Floating rate, LIBOR plus 2.85%, adjusted quarterly
 
4.49%
 
January 2034
Umpqua Statutory Trust V
December 2003
 
10,310

 
7,039

 
Floating rate, LIBOR plus 2.85%, adjusted quarterly
 
4.51%
 
March 2034
Umpqua Master Trust I
August 2007
 
41,238

 
23,082

 
Floating rate, LIBOR plus 1.35%, adjusted quarterly
 
2.82%
 
September 2037
Umpqua Master Trust IB
September 2007
 
20,619

 
13,607

 
Floating rate, LIBOR plus 2.75%, adjusted quarterly
 
4.52%
 
December 2037
Sterling Capital Trust III
April 2003
 
14,433

 
11,026

 
Floating rate, LIBOR plus 3.25%, adjusted quarterly
 
4.55%
 
April 2033
Sterling Capital Trust IV
May 2003
 
10,310

 
7,788

 
Floating rate, LIBOR plus 3.15%, adjusted quarterly
 
4.47%
 
May 2033
Sterling Capital Statutory Trust V
May 2003
 
20,619

 
15,642

 
Floating rate, LIBOR plus 3.25%, adjusted quarterly
 
4.59%
 
June 2033
Sterling Capital Trust VI
June 2003
 
10,310

 
7,766

 
Floating rate, LIBOR plus 3.20%, adjusted quarterly
 
4.55%
 
September 2033
Sterling Capital Trust VII
June 2006
 
56,702

 
32,894

 
Floating rate, LIBOR plus 1.53%, adjusted quarterly
 
3.03%
 
June 2036
Sterling Capital Trust VIII
September 2006
 
51,547

 
30,270

 
Floating rate, LIBOR plus 1.63%, adjusted quarterly
 
3.17%
 
December 2036
Sterling Capital Trust IX
July 2007
 
46,392

 
26,110

 
Floating rate, LIBOR plus 1.40%, adjusted quarterly
 
2.90%
 
October 2037
Lynnwood Financial Statutory Trust I
March 2003
 
9,279

 
6,956

 
Floating rate, LIBOR plus 3.15%, adjusted quarterly
 
4.51%
 
March 2033
Lynnwood Financial Statutory Trust II
June 2005
 
10,310

 
6,309

 
Floating rate, LIBOR plus 1.80%, adjusted quarterly
 
3.32%
 
June 2035
Klamath First Capital Trust I
July 2001
 
15,464

 
12,962

 
Floating rate, LIBOR plus 3.75%, adjusted semiannually
 
4.88%
 
July 2031
 
 
 
$
379,390

 
$
246,077

 
 
 
 
 
 
AT AMORTIZED COST:
 
 
 
 
 
 
 
 
 
 
 
HB Capital Trust I
March 2000
 
$
5,310

 
$
6,189

 
10.875%
 
8.43%
 
March 2030
Humboldt Bancorp Statutory Trust I
February 2001
 
5,155

 
5,800

 
10.200%
 
8.39%
 
February 2031
Humboldt Bancorp Statutory Trust II
December 2001
 
10,310

 
11,244

 
Floating rate, LIBOR plus 3.60%, adjusted quarterly
 
3.03%
 
December 2031
Humboldt Bancorp Statutory Trust III
September 2003
 
27,836

 
30,278

 
Floating rate, LIBOR plus 2.95%, adjusted quarterly
 
2.50%
 
September 2033
CIB Capital Trust
November 2002
 
10,310

 
11,110

 
Floating rate, LIBOR plus 3.45%, adjusted quarterly
 
3.01%
 
November 2032
Western Sierra Statutory Trust I
July 2001
 
6,186

 
6,186

 
Floating rate, LIBOR plus 3.58%, adjusted quarterly
 
3.80%
 
July 2031
Western Sierra Statutory Trust II
December 2001
 
10,310

 
10,310

 
Floating rate, LIBOR plus 3.60%, adjusted quarterly
 
3.83%
 
December 2031
Western Sierra Statutory Trust III
September 2003
 
10,310

 
10,310

 
Floating rate, LIBOR plus 2.90%, adjusted quarterly
 
3.13%
 
September 2033
Western Sierra Statutory Trust IV
September 2003
 
10,310

 
10,310

 
Floating rate, LIBOR plus 2.90%, adjusted quarterly
 
3.13%
 
September 2033
 
 
 
96,037

 
101,737

 
 
 
 
 
 
 
Total
 
$
475,427

 
$
347,814

 
 
 
 
 
 
 
(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 June 30, 2014