XML 33 R17.htm IDEA: XBRL DOCUMENT v3.8.0.1
Other Real Estate Owned
 12 Months Ended
Dec. 31, 2017
Real Estate [Abstract]  
Other Real Estate Owned
Other Real Estate Owned 
 
The following table presents the changes in other real estate owned ("OREO") for the years ended December 31, 2017, 2016 and 2015: 
(in thousands)
2017
 
2016
 
2015
Balance, beginning of period
$
6,738

 
$
22,307

 
$
37,942

Additions to OREO
11,222

 
5,888

 
9,062

Dispositions of OREO
(6,080
)
 
(19,738
)
 
(21,915
)
Valuation adjustments in the period
(146
)
 
(1,719
)
 
(2,782
)
Balance, end of period
$
11,734

 
$
6,738

 
$
22,307



As of December 31, 2017, 2016 and 2015, the Company had valuation allowances on its OREO balances of $349,000, $365,000, and $4.1 million, respectively. Valuation allowances on OREO balances are based on updated appraisals of the underlying properties as received during a period or management's authorization to reduce the selling price of a property during the period. As of December 31, 2017 and 2016, Umpqua had $354,000 and $1.6 million, respectively, of foreclosed residential real estate property held as other real estate owned. Umpqua's recorded investment in consumer mortgage loans collateralized by residential real estate property in process of foreclosure was $10.1 million and $10.7 million as of December 31, 2017 and 2016, respectively.