Segment Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information 

The Company operates two primary segments: Community Banking and Home Lending. 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 December 31, 2014, the Community Banking segment operated 385 locations throughout Oregon, California, Washington, Idaho, and Nevada.

The Home Lending segment, which operates as a division of the Bank, originates, sells and services residential mortgage loans.  

In the second quarter of 2014, the Company combined its Wealth Management segment into the Community Banking segment as Wealth Management no longer met the definition of an operating segment. The segment results for comparable periods have been modified to reflect the current period presentation.

Summarized financial information concerning the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables: 

Year Ended December 31, 2014
(in thousands)	Community		Home
	Banking		Lending		Consolidated
Interest income	$	755,374	$	67,147	$	822,521
Interest expense	43,077		5,616		48,693
Net interest income	712,297		61,531		773,828
Provision for loan and lease losses	40,241		—		40,241
Non-interest income	91,295		87,997		179,292
Non-interest expense	615,275		68,788		684,063
Income before income taxes	148,076		80,740		228,816
Provision for income taxes	52,683		28,613		81,296
Net income	95,393		52,127		147,520
Dividends and undistributed earnings allocated
to participating securities	484		—		484
Net earnings available to common shareholders	$	94,909	$	52,127	$	147,036
Total assets	$	20,098,560	$	2,514,714	$	22,613,274
Total loans and leases	$	13,181,463	$	2,146,269	$	15,327,732
Total deposits	$	16,850,682	$	41,417	$	16,892,099

Year Ended December 31, 2013
(in thousands)	Community		Home
	Banking		Lending		Consolidated
Interest income	$	420,854	$	21,992	$	442,846
Interest expense	35,367		2,514		37,881
Net interest income	385,487		19,478		404,965
Provision for loan and lease losses	10,716		—		10,716
Non-interest income	42,102		79,339		121,441
Non-interest expense	325,743		38,918		364,661
Income before income taxes	91,130		59,899		151,029
Provision for income taxes	28,708		23,960		52,668
Net income	62,422		35,939		98,361
Dividends and undistributed earnings allocated
to participating securities	788		—		788
Net earnings available to common shareholders	$	61,634	$	35,939	$	97,573
Total assets	$	10,949,050	$	687,062	$	11,636,112
Total loans and leases	$	7,196,137	$	532,029	$	7,728,166
Total deposits	$	9,090,959	$	26,701	$	9,117,660

Year Ended December 31, 2012
(in thousands)	Community		Home
	Banking		Lending		Consolidated
Interest income	$	435,814	$	20,271	$	456,085
Interest expense	46,105		2,744		48,849
Net interest income	389,709		17,527		407,236
Provision for loan and lease losses	29,201		—		29,201
Non-interest income	52,031		84,798		136,829
Non-interest expense	322,197		37,455		359,652
Income before income taxes	90,342		64,870		155,212
Provision for income taxes	27,373		25,948		53,321
Net income	62,969		38,922		101,891
Dividends and undistributed earnings allocated
to participating securities	682		—		682
Net earnings available to common shareholders	$	62,287	$	38,922	$	101,209
Total assets	$	11,075,366	$	720,077	$	11,795,443
Total loans and leases	$	6,806,199	$	370,234	$	7,176,433
Total deposits	$	9,350,900	$	28,375	$	9,379,275