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Fair Value Measurement (Tables)
 3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]  
Schedule Of Carrying Value And Fair Value Of Financial Instruments Not Recorded At Fair Value
The following table presents estimated fair values of the Company's financial instruments as of March 31, 2019 and December 31, 2018, whether or not recognized or recorded at fair value in the Condensed Consolidated Balance Sheets:  
(in thousands)
 
 
March 31, 2019
 
December 31, 2018
 
Level
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
FINANCIAL ASSETS:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
1
 
$
902,808

 
$
902,808

 
$
622,637

 
$
622,637

Equity and other investment securities
1,2
 
63,327

 
63,327

 
61,841

 
61,841

Investment securities available for sale
2
 
2,894,778

 
2,894,778

 
2,977,108

 
2,977,108

Investment securities held to maturity
3
 
3,478

 
4,517

 
3,606

 
4,644

Loans held for sale, at fair value
2
 
240,302

 
240,302

 
166,461

 
166,461

Loans and leases, net 
3
 
20,261,125

 
20,200,593

 
20,277,795

 
20,117,939

Restricted equity securities
1
 
47,466

 
47,466

 
40,268

 
40,268

Residential mortgage servicing rights
3
 
158,946

 
158,946

 
169,025

 
169,025

Bank owned life insurance
1
 
314,303

 
314,303

 
313,626

 
313,626

Derivatives
2,3
 
84,090

 
84,090

 
49,484

 
49,484

Visa Class B common stock
3
 
—

 
117,613

 
—

 
99,353

FINANCIAL LIABILITIES:
 
 
 
 
 
 
 
 
 
Deposits
1,2
 
$
21,243,894

 
$
21,239,390

 
$
21,137,486

 
$
21,116,852

Securities sold under agreements to repurchase
2
 
288,944

 
288,944

 
297,151

 
297,151

Term debt
2
 
932,420

 
923,743

 
751,788

 
738,107

Junior subordinated debentures, at fair value
3
 
294,121

 
294,121

 
300,870

 
300,870

Junior subordinated debentures, at amortized cost
3
 
88,667

 
75,052

 
88,724

 
76,569

Derivatives
2
 
11,393

 
11,393

 
15,982

 
15,982
Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis
The following tables present information about the Company's assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018: 
(in thousands) 
March 31, 2019
Description
Total
 
Level 1
 
Level 2
 
Level 3
FINANCIAL ASSETS:
 
 
 
 
 
 
 
Equity and other investment securities
 
 
 
 
 
 
 
Investments in mutual funds and other securities
$
51,169

 
$
51,169

 
$
—

 
$
—

Equity securities held in rabbi trusts
12,093

 
12,093

 
—

 
—

Other investments securities (1)
65

 
—

 
65

 
—

Investment securities available for sale
 
 
 
 
 
 
 
U.S. Treasury and agencies
19,789

 
—

 
19,789

 
—

Obligations of states and political subdivisions
305,663

 
—

 
305,663

 
—

Residential mortgage-backed securities and collateralized mortgage obligations
2,569,326

 
—

 
2,569,326

 
—

Loans held for sale, at fair value
240,302

 
—

 
240,302

 
—

Residential mortgage servicing rights, at fair value
158,946

 
—

 
—

 
158,946

Derivatives
 
 
 
 
 
 
 
Interest rate lock commitments
8,174

 
—

 
—

 
8,174

Interest rate forward sales commitments
28

 
—

 
28

 
—

Interest rate swaps
75,271

 
—

 
75,271

 
—

Foreign currency derivative
617

 
—

 
617

 
—

Total assets measured at fair value
$
3,441,443

 
$
63,262

 
$
3,211,061

 
$
167,120

FINANCIAL LIABILITIES:
 
 
 
 
 
 
 
Junior subordinated debentures, at fair value
$
294,121

 
$
—

 
$
—

 
$
294,121

Derivatives
 
 
 
 
 
 
 
Interest rate forward sales commitments
3,226

 
—

 
3,226

 
—

Interest rate swaps
7,717

 
—

 
7,717

 
—

Foreign currency derivative
450

 
—

 
450

 
—

Total liabilities measured at fair value
$
305,514

 
$
—

 
$
11,393

 
$
294,121

(1) Other investment securities includes securities held by Umpqua Investments as trading debt securities.
(in thousands) 
December 31, 2018
Description
Total
 
Level 1
 
Level 2
 
Level 3
FINANCIAL ASSETS:
 
 
 
 
 
 
 
Equity and other investment securities
 
 
 
 
 
 
 
Investments in mutual funds and other securities
$
50,475

 
$
50,475

 
$
—

 
$
—

Equity securities held in rabbi trusts
10,918

 
10,918

 
—

 
—

  Other investments securities (1)
448

 
—

 
448

 
—

Investment securities available for sale
 
 
 
 
 
 
 
U.S. Treasury and agencies
39,656

 
—

 
39,656

 
—

Obligations of states and political subdivisions
309,171

 
—

 
309,171

 
—

Residential mortgage-backed securities and collateralized mortgage obligations
2,628,281

 
—

 
2,628,281

 
—

Loans held for sale, at fair value
166,461

 
—

 
166,461

 
—

Residential mortgage servicing rights, at fair value
169,025

 
—

 
—

 
169,025

Derivatives
 
 
 
 
 
 
 
Interest rate lock commitments
6,757

 
—

 
—

 
6,757

Interest rate forward sales commitments
1

 
—

 
1

 
—

Interest rate swaps
42,276

 
—

 
42,276

 
—

Foreign currency derivative
450

 
—

 
450

 
—

Total assets measured at fair value
$
3,423,919

 
$
61,393

 
$
3,186,744

 
$
175,782

FINANCIAL LIABILITIES:
 
 
 
 
 
 
 
Junior subordinated debentures, at fair value
$
300,870

 
$
—

 
$
—

 
$
300,870

Derivatives
 
 
 
 
 
 
 
Interest rate forward sales commitments
2,963

 
—

 
2,963

 
—

Interest rate swaps
12,746

 
—

 
12,746

 
—

Foreign currency derivative
273

 
—

 
273

 
—

Total liabilities measured at fair value
$
316,852

 
$
—

 
$
15,982

 
$
300,870

 
(1) Other investment securities includes securities held by Umpqua Investments as trading debt securities.

Schedule of a Description of the Valuation Technique, Unobservable Input, and Qualitative Information for the Company's Assets and Liabilities Classified as Level 3
The following table provides a description of the valuation technique, significant unobservable inputs, and qualitative information about the unobservable inputs for the Company's assets and liabilities classified as Level 3 and measured at fair value on a recurring basis at March 31, 2019: 
Financial Instrument
Valuation Technique
Unobservable Input
Weighted Average
Residential mortgage servicing rights
Discounted cash flow
 
 
 
 
Constant prepayment rate
13.66%
 
 
Discount rate
9.71%
Interest rate lock commitments
Internal pricing model
 
 
 
 
Pull-through rate
89.07%
Junior subordinated debentures
Discounted cash flow
 
 
 
 
Credit spread
4.51%
Schedule Of Reconciliation Of Assets And Liabilities Measured At Fair Value Using Significant Unobservable Inputs (Level 3) On A Recurring Basis
The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three months ended March 31, 2019 and 2018: 
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31,
Beginning Balance
 
Change included in earnings
 
Change in fair values included in comprehensive income (loss)
 
Purchases and issuances
 
Sales and settlements
 
Ending Balance
 
Net change in unrealized gains or (losses) relating to items held at end of period
2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage servicing rights
$
169,025

 
$
(13,966
)
 
$
—

 
$
3,887

 
$
—

 
$
158,946

 
$
(11,174
)
Interest rate lock commitments, net
6,757

 
1,697

 
—

 
5,399

 
(5,679
)
 
8,174

 
8,174

Junior subordinated debentures, at fair value
300,870

 
4,772

 
(6,564
)
 
—

 
(4,957
)
 
294,121

 
(1,792
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential mortgage servicing rights
$
153,151

 
$
5,079

 
$
—

 
$
6,530

 
$
—

 
$
164,760

 
$
8,434

Interest rate lock commitments, net
4,752

 
(1,253
)
 
—

 
6,433

 
(4,058
)
 
5,874

 
5,874

Junior subordinated debentures, at fair value
277,155

 
3,775

 
1,683

 
—

 
(4,203
)
 
278,410

 
5,458

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value Assets And Liabilities Measured On Nonrecurring Basis
The following tables present information about the Company's assets and liabilities measured at fair value on a nonrecurring basis for which a nonrecurring change in fair value has been recorded during the reporting period.  The amounts disclosed below represent the fair values at the time the nonrecurring fair value measurements were made, and not necessarily the fair value as of the dates reported upon. 
(in thousands)
March 31, 2019
 
Total
 
Level 1
 
Level 2
 
Level 3
Loans and leases
$
23,084

 
$
—

 
$
—

 
$
23,084

Other real estate owned
135

 
—

 
—

 
135

 
$
23,219

 
$
—

 
$
—

 
$
23,219


(in thousands) 
December 31, 2018
 
Total
 
Level 1
 
Level 2
 
Level 3
Loans and leases
$
98,696

 
$
—

 
$
—

 
$
98,696

Other real estate owned
7,532

 
—

 
—

 
7,532

 
$
106,228

 
$
—

 
$
—

 
$
106,228
Losses Resulting From Nonrecurring Fair Value Adjustments
The following table presents the losses resulting from nonrecurring fair value adjustments for the three months ended March 31, 2019 and 2018:  
 (in thousands)
Three Months Ended
 
March 31, 2019
 
March 31, 2018
Loans and leases
$
15,496

 
$
14,039

Other real estate owned
59

 
5

Total loss from nonrecurring measurements
$
15,555

 
$
14,044
Fair Value Option
The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of loans held for sale accounted for under the fair value option as of March 31, 2019 and December 31, 2018:

(in thousands)
March 31, 2019
 
December 31, 2018
 
Fair Value
 
 Aggregate Unpaid Principal Balance
 
Fair Value Less Aggregate Unpaid Principal Balance
 
Fair Value
 
Aggregate Unpaid Principal Balance
 
Fair Value Less Aggregate Unpaid Principal Balance
  Loans held for sale
$
240,302

 
$
231,318

 
$
8,984

 
$
166,461

 
$
160,270

 
$
6,191