Segment Information

6 Months Ended

Jun. 30, 2019

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 June 30, 2019
	Wholesale Bank		Wealth Management		Retail Bank		Home Lending			Corporate & Other		Consolidated
Net interest income	$	110,883	$	6,084	$	86,047	$	10,809		$	13,339	$	227,162
Provision for loan and lease losses	16,490		576		1,116		922			248		19,352
Non-interest income	14,051		4,702		15,863		9,514			77,693		121,823
Non-interest expense	55,968		9,971		66,393		32,954			15,129		180,415
Income (loss) before income taxes	52,476		239		34,401		(13,553		)	75,655		149,218
Provision (benefit) for income taxes	13,119		60		8,601		(3,388		)	19,016		37,408
Net income (loss)	$	39,357	$	179	$	25,800	$	(10,165	)	$	56,639	$	111,810

(in thousands)	Six Months Ended June 30, 2019
	Wholesale Bank		Wealth Management		Retail Bank		Home Lending			Corporate & Other		Consolidated
Net interest income	$	219,161	$	12,473	$	174,495	$	20,754		$	37,964	$	464,847
Provision for loan and lease losses	28,480		821		2,245		1,049			441		33,036
Non-interest income	22,892		9,240		31,181		20,906			83,344		167,563
Non-interest expense	110,753		18,785		129,884		61,454			31,131		352,007
Income (loss) before income taxes	102,820		2,107		73,547		(20,843		)	89,736		247,367
Provision (benefit) for income taxes	25,705		527		18,387		(5,211		)	22,116		61,524
Net income (loss)	$	77,115	$	1,580	$	55,160	$	(15,632	)	$	67,620	$	185,843



(in thousands)	Three Months Ended June 30, 2018
	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other			Consolidated
Net interest income	$	112,249	$	5,536	$	80,998	$	10,128	$	15,989		$	224,900
Provision for loan and lease losses	11,276		182		594		208		1,059			13,319
Non-interest income	15,628		4,850		15,993		33,278		1,902			71,651
Non-interest expense	55,606		9,571		70,860		35,032		24,503			195,572
Income (loss) before income taxes	60,995		633		25,537		8,166		(7,671		)	87,660
Provision (benefit) for income taxes	15,249		158		6,385		2,041		(2,172		)	21,661
Net income (loss)	$	45,746	$	475	$	19,152	$	6,125	$	(5,499	)	$	65,999

(in thousands)	Six Months Ended June 30, 2018
	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other			Consolidated
Net interest income	$	223,984	$	11,539	$	160,850	$	18,973	$	34,535		$	449,881
Provision for loan and lease losses	24,644		349		955		700		327			26,975
Non-interest income	31,357		9,746		31,186		71,686		6,243			150,218
Non-interest expense	110,180		18,339		142,003		67,329		43,834			381,685
Income (loss) before income taxes	120,517		2,597		49,078		22,630		(3,383		)	191,439
Provision (benefit) for income taxes	30,129		649		12,270		5,657		(2,237		)	46,468
Net income (loss)	$	90,388	$	1,948	$	36,808	$	16,973	$	(1,146	)	$	144,971



(in thousands)	June 30, 2019
	Wholesale Bank		Wealth Management		Retail Bank		Home Lending		Corporate & Other			Consolidated
Total assets	$	15,122,715	$	635,001	$	2,007,335	$	4,161,236	$	6,059,788		$	27,986,075
Total loans and leases	$	14,826,414	$	618,160	$	1,936,144	$	3,634,935	$	(62,282	)	$	20,953,371
Total deposits	$	3,861,993	$	1,150,198	$	13,318,602	$	310,329	$	3,177,891		$	21,819,013



(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