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Junior Subordinated Debentures (Tables)
3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Junior Subordinated Debentures
Following is information about the Company's wholly-owned trusts ("Trusts") as of March 31, 2018:  
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Trust Name
 
Issue Date
 
Issued Amount
 
Carrying Value (1)
 
Rate (2)
 
Effective
 Rate (3)
 
Maturity Date
AT FAIR VALUE:
 
 
 
 
 
 
 
 
 
 
 
 
Umpqua Statutory Trust II
 
October 2002
 
$
20,619

 
$
17,684

 
Floating rate, LIBOR plus 3.35%, adjusted quarterly
 
5.97%
 
October 2032
Umpqua Statutory Trust III
 
October 2002
 
30,928

 
26,762

 
Floating rate, LIBOR plus 3.45%, adjusted quarterly
 
6.11%
 
November 2032
Umpqua Statutory Trust IV
 
December 2003
 
10,310

 
8,332

 
Floating rate, LIBOR plus 2.85%, adjusted quarterly
 
5.66%
 
January 2034
Umpqua Statutory Trust V
 
December 2003
 
10,310

 
8,232

 
Floating rate, LIBOR plus 2.85%, adjusted quarterly
 
6.30%
 
March 2034
Umpqua Master Trust I
 
August 2007
 
41,238

 
25,706

 
Floating rate, LIBOR plus 1.35%, adjusted quarterly
 
5.57%
 
September 2037
Umpqua Master Trust IB
 
September 2007
 
20,619

 
15,786

 
Floating rate, LIBOR plus 2.75%, adjusted quarterly
 
6.37%
 
December 2037
Sterling Capital Trust III
 
April 2003
 
14,433

 
12,254

 
Floating rate, LIBOR plus 3.25%, adjusted quarterly
 
5.92%
 
April 2033
Sterling Capital Trust IV
 
May 2003
 
10,310

 
8,597

 
Floating rate, LIBOR plus 3.15%, adjusted quarterly
 
5.98%
 
May 2033
Sterling Capital Statutory Trust V
 
May 2003
 
20,619

 
17,306

 
Floating rate, LIBOR plus 3.25%, adjusted quarterly
 
6.60%
 
June 2033
Sterling Capital Trust VI
 
June 2003
 
10,310

 
8,565

 
Floating rate, LIBOR plus 3.20%, adjusted quarterly
 
6.41%
 
September 2033
Sterling Capital Trust VII
 
June 2006
 
56,702

 
36,996

 
Floating rate, LIBOR plus 1.53%, adjusted quarterly
 
5.59%
 
June 2036
Sterling Capital Trust VIII
 
September 2006
 
51,547

 
33,925

 
Floating rate, LIBOR plus 1.63%, adjusted quarterly
 
5.70%
 
December 2036
Sterling Capital Trust IX
 
July 2007
 
46,392

 
29,426

 
Floating rate, LIBOR plus 1.40%, adjusted quarterly
 
4.88%
 
October 2037
Lynnwood Financial Statutory Trust I
 
March 2003
 
9,279

 
7,701

 
Floating rate, LIBOR plus 3.15%, adjusted quarterly
 
6.55%
 
March 2033
Lynnwood Financial Statutory Trust II
 
June 2005
 
10,310

 
7,185

 
Floating rate, LIBOR plus 1.80%, adjusted quarterly
 
5.63%
 
June 2035
Klamath First Capital Trust I
 
July 2001
 
15,464

 
13,953

 
Floating rate, LIBOR plus 3.75%, adjusted semiannually
 
6.34%
 
July 2031
 
 
 
 
$
379,390

 
$
278,410

 
 
 
 
 
 
AT AMORTIZED COST:
 
 
 
 
 
 
 
 
 
 
 
 
Humboldt Bancorp Statutory Trust II
 
December 2001
 
10,310

 
11,043

 
Floating rate, LIBOR plus 3.60%, adjusted quarterly
 
4.91%
 
December 2031
Humboldt Bancorp Statutory Trust III
 
September 2003
 
27,836

 
29,791

 
Floating rate, LIBOR plus 2.95%, adjusted quarterly
 
4.35%
 
September 2033
CIB Capital Trust
 
November 2002
 
10,310

 
10,945

 
Floating rate, LIBOR plus 3.45%, adjusted quarterly
 
4.58%
 
November 2032
Western Sierra Statutory Trust I
 
July 2001
 
6,186

 
6,186

 
Floating rate, LIBOR plus 3.58%, adjusted quarterly
 
5.35%
 
July 2031
Western Sierra Statutory Trust II
 
December 2001
 
10,310

 
10,310

 
Floating rate, LIBOR plus 3.60%, adjusted quarterly
 
5.78%
 
December 2031
Western Sierra Statutory Trust III
 
September 2003
 
10,310

 
10,310

 
Floating rate, LIBOR plus 2.90%, adjusted quarterly
 
4.62%
 
September 2033
Western Sierra Statutory Trust IV
 
September 2003
 
10,310

 
10,310

 
Floating rate, LIBOR plus 2.90%, adjusted quarterly
 
4.62%
 
September 2033
 
 
 
 
85,572

 
88,895

 
 
 
 
 
 
 
 
Total
 
$
464,962

 
$
367,305

 
 
 
 
 
 
 
(1)
Includes acquisition accounting adjustments, net of accumulated amortization, for junior subordinated debentures assumed in connection with previous mergers as well as fair value adjustments related to trusts recorded at fair value. 
(2)
Contractual interest rate of junior subordinated debentures. 
(3)
Effective interest rate based upon the carrying value as of March 31, 2018