Segment Information

3 Months Ended

Mar. 31, 2015

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 March 31, 2015, the Community Banking segment operated 385 locations throughout Oregon, Washington, California, 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: 

(in thousands)	Three Months Ended March 31, 2015
	Community		Home
	Banking		Lending		Consolidated
Interest income	$	207,628	$	22,232	$	229,860
Interest expense	12,019		1,933		13,952
Net interest income	195,609		20,299		215,908
Provision for loan and lease losses	12,637		—		12,637
Non-interest income	28,955		34,640		63,595
Non-interest expense	167,092		26,006		193,098
Income before income taxes	44,835		28,933		73,768
Provision for income taxes	16,194		10,445		26,639
Net income	28,641		18,488		47,129
Dividends and undistributed earnings allocated to participating securities	84		—		84
Net earnings available to common shareholders	$	28,557	$	18,488	$	47,045

(in thousands)	Three Months Ended March 31, 2014
	Community		Home
	Banking		Lending		Consolidated
Interest income	$	110,156	$	5,724	$	115,880
Interest expense	7,488		554		8,042
Net interest income	102,668		5,170		107,838
Provision for loan and lease losses	5,971		—		5,971
Non-interest income	12,718		10,520		23,238
Non-interest expense	89,334		7,184		96,518
Income before income taxes	20,081		8,506		28,587
Provision for income taxes	6,534		3,402		9,936
Net income	13,547		5,104		18,651
Dividends and undistributed earnings allocated to participating securities	113		—		113
Net earnings available to common shareholders	$	13,434	$	5,104	$	18,538

(in thousands)	March 31, 2015
	Community		Home
	Banking		Lending		Consolidated
Total assets	$	20,262,775	$	2,690,383	$	22,953,158
Total loans and leases	$	13,339,829	$	2,209,128	$	15,548,957
Total deposits	$	17,160,722	$	61,844	$	17,222,566

(in thousands)	December 31, 2014
	Community		Home
	Banking		Lending		Consolidated
Total assets	$	20,095,189	$	2,514,714	$	22,609,903
Total loans and leases	$	13,181,463	$	2,146,269	$	15,327,732
Total deposits	$	16,850,682	$	41,417	$	16,892,099