Segment Information

9 Months Ended

Sep. 30, 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 September 30, 2015, the Community Banking segment operated 381 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.  

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 September 30, 2015
	Community		Home
	Banking		Lending		Consolidated
Interest income	$	204,393	$	29,924	$	234,317
Interest expense	12,269		2,318		14,587
Net interest income	192,124		27,606		219,730
Provision for loan and lease losses	7,294		859		8,153
Non-interest income	32,020		28,329		60,349
Non-interest expense	152,174		30,512		182,686
Income before income taxes	64,676		24,564		89,240
Provision for income taxes	22,925		8,708		31,633
Net income	$	41,751	$	15,856	$	57,607
(in thousands)	Nine Months Ended September 30, 2015
	Community		Home
	Banking		Lending		Consolidated
Interest income	$	618,710	$	77,937	$	696,647
Interest expense	36,480		6,381		42,861
Net interest income	582,230		71,556		653,786
Provision for loan and lease losses	29,067		2,977		32,044
Non-interest income	93,845		110,498		204,343
Non-interest expense	486,514		91,167		577,681
Income before income taxes	160,494		87,910		248,404
Provision for income taxes	57,430		31,454		88,884
Net income	$	103,064	$	56,456	$	159,520

(in thousands)	Three Months Ended September 30, 2014
	Community		Home
	Banking		Lending		Consolidated
Interest income	$	219,268	$	20,255	$	239,523
Interest expense	12,003		1,804		13,807
Net interest income	207,265		18,451		225,716
Provision for loan and lease losses	14,333		—		14,333
Non-interest income	30,439		31,726		62,165
Non-interest expense	160,559		21,999		182,558
Income before income taxes	62,812		28,178		90,990
Provision for income taxes	22,165		9,942		32,107
Net income	$	40,647	$	18,236	$	58,883
	Nine Months Ended September 30, 2014
	Community		Home
	Banking		Lending		Consolidated
Interest income	$	536,922	$	43,448	$	580,370
Interest expense	30,858		3,699		34,557
Net interest income	506,064		39,749		545,813
Provision for loan and lease losses	35,000		—		35,000
Non-interest income	64,072		66,797		130,869
Non-interest expense	445,189		48,018		493,207
Income before income taxes	89,947		58,528		148,475
Provision for income taxes	32,353		21,046		53,399
Net income	$	57,594	$	37,482	$	95,076

(in thousands)	September 30, 2015
	Community		Home
	Banking		Lending		Consolidated
Total assets	$	20,115,935	$	3,046,369	$	23,162,304
Total loans and leases	$	13,825,307	$	2,562,627	$	16,387,934
Total deposits	$	17,371,561	$	95,463	$	17,467,024

(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