Premises and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

The following table presents the major components of premises and equipment at December 31, 2014 and 2013:



(in thousands)							Estimated useful life
	2014			2013			Estimated useful life
Land	$	46,415		$	26,438
Buildings and improvements	218,326			153,771			7-39 years
Furniture, fixtures and equipment	173,034			131,691			4-20 years
Construction in progress	32,313			13,172
Total premises and equipment	470,088			325,072
Less: Accumulated depreciation and amortization	(152,254		)	(147,392		)
Premises and equipment, net	$	317,834		$	177,680

Depreciation expense totaled $36.9 million, $20.5 million and $17.6 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Umpqua's subsidiaries have entered into a number of non-cancelable lease agreements with respect to premises and equipment. See Note 19 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 used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details