Segment Information

The Company reports four primary segments: Wholesale Bank, Wealth Management, Retail Bank, and Home Lending with the remainder as Corporate and other.

The Wholesale Bank segment includes lending, treasury and cash management services and customer risk management products to middle market corporate, commercial and business banking customers and includes the operations of Financial Pacific Leasing Inc., a commercial leasing company. The Wealth Management segment consists of the operations of Umpqua Investments, which offers a full range of retail brokerage and investment advisory services and products to its clients who consist primarily of individual investors, and Umpqua Private Bank, which serves high net worth individuals with liquid investable assets and provides customized financial solutions and offerings. The Retail Bank segment includes retail and small business lending and deposit services for customers served through the Bank's store network. The Home Lending segment originates, sells and services residential mortgage loans. The Corporate and other segment includes activities that are not directly attributable to one of the four principal lines of business and includes the operations of the parent company, eliminations and the economic impact of certain assets, capital and support functions not specifically identifiable within the other lines of business.

Management monitors the Company's results using an internal performance measurement accounting system, which provides line of business results and key performance measures. The application and development of these management reporting methodologies is a dynamic process and is subject to periodic enhancements. As these enhancements are made, financial results presented by each reportable segment may be periodically revised retrospectively, if material.

The provision for income taxes is allocated to business segments using a 25% effective tax rate. The residual income tax expense or benefit arising from tax planning strategies or other tax attributes to arrive at the consolidated effective tax rate is retained in Corporate and Other.

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, 2019
	Wholesale Bank		Wealth Management		Retail Bank		Home Lending			Corporate & Other		Consolidated
Net interest income	$	108,278	$	6,389	$	88,448	$	9,945		$	24,625	$	237,685
Provision for loan and lease losses	11,990		245		1,129		127			193		13,684
Non-interest income	8,841		4,538		15,318		11,392			5,651		45,740
Non-interest expense	54,785		8,814		63,491		28,500			16,002		171,592
Income (loss) before income taxes	50,344		1,868		39,146		(7,290		)	14,081		98,149
Provision (benefit) for income taxes	12,586		467		9,786		(1,823		)	3,100		24,116
Net income (loss)	$	37,758	$	1,401	$	29,360	$	(5,467	)	$	10,981	$	74,033



(in thousands)	Three Months Ended March 31, 2018
	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other			Consolidated
Net interest income	$	111,735	$	6,003	$	79,852	$	8,845	$	18,546		$	224,981
Provision (recapture) for loan and lease losses	13,368		167		361		492		(732		)	13,656
Non-interest income	15,729		4,896		15,193		38,408		4,341			78,567
Non-interest expense	54,574		8,768		71,143		32,297		19,331			186,113
Income before income taxes	59,522		1,964		23,541		14,464		4,288			103,779
Provision (benefit) for income taxes	14,880		491		5,885		3,616		(65		)	24,807
Net income	$	44,642	$	1,473	$	17,656	$	10,848	$	4,353		$	78,972



(in thousands)	March 31, 2019
	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other			Consolidated
Total assets	$	14,805,830	$	563,847	$	1,995,984	$	3,850,087	$	6,139,877		$	27,355,625
Total loans and leases	$	14,577,704	$	549,614	$	1,924,224	$	3,422,239	$	(67,784	)	$	20,405,997
Total deposits	$	3,632,822	$	1,099,198	$	13,184,058	$	279,587	$	3,048,229		$	21,243,894



(in thousands)	December 31, 2018
	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other			Consolidated
Total assets	$	14,920,507	$	536,024	$	2,015,263	$	3,680,004	$	5,787,983		$	26,939,781
Total loans and leases	$	14,717,512	$	521,988	$	1,934,602	$	3,320,634	$	(72,070	)	$	20,422,666
Total deposits	$	3,776,047	$	1,068,025	$	13,016,976	$	219,584	$	3,056,854		$	21,137,486