XML 51 R35.htm IDEA: XBRL DOCUMENT v3.22.0.1
Parent Company Financial Statements
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Parent Company Financial Statements Parent Company Financial Statements
Summary financial information for Umpqua Holdings Corporation on a stand-alone basis is as follows:

Condensed Balance Sheets
December 31, 2021 and 2020
(in thousands)December 31, 2021December 31, 2020
ASSETS
  Non-interest bearing deposits with subsidiary bank$276,572 $136,745 
  Investments in:
   Bank subsidiary2,860,132 2,913,649 
   Non-bank subsidiaries16,660 30,266 
  Other assets1,847 523 
Total assets$3,155,211 $3,081,183 
LIABILITIES AND SHAREHOLDERS' EQUITY
  Payable to subsidiary bank$507 $98 
  Other liabilities24,312 33,023 
  Junior subordinated debentures, at fair value293,081 255,217 
  Junior subordinated debentures, at amortized cost88,041 88,268 
  Total liabilities405,941 376,606 
  Shareholders' equity2,749,270 2,704,577 
Total liabilities and shareholders' equity$3,155,211 $3,081,183 

Condensed Statements of Operations
Years Ended December 31, 2021, 2020, and 2019
(in thousands)202120202019
INCOME
  Dividends from subsidiaries$407,371 $213,464 $219,143 
  Other income (loss)5,007 11 (18)
Total income412,378 213,475 219,125 
EXPENSES
  Management fees paid to subsidiaries1,590 1,165 1,144 
  Other expenses17,834 17,894 25,311 
Total expenses19,424 19,059 26,455 
Income before income tax benefit and equity in undistributed earnings of subsidiaries392,954 194,416 192,670 
Income tax benefit(3,470)(4,245)(5,742)
Net income before equity in undistributed earnings of subsidiaries396,424 198,661 198,412 
Equity in undistributed earnings (losses) of subsidiaries23,876 (1,722,081)155,683 
Net income (loss)$420,300 $(1,523,420)$354,095 
Condensed Statements of Cash Flows
Years Ended December 31, 2021, 2020, and 2019
(in thousands)202120202019
OPERATING ACTIVITIES:
  Net income (loss)$420,300 $(1,523,420)$354,095 
  Adjustment to reconcile net income to net cash provided by operating activities:
Gain on sale of Umpqua Investments, Inc.(4,444)— — 
   Equity in undistributed (earnings) losses of subsidiaries(23,876)1,722,081 (155,683)
   Depreciation, amortization and accretion(228)(228)(228)
   Net (increase) decrease in other assets(1,001)(5)7,960 
   Net increase in other liabilities2,589 1,262 79 
   Net cash provided by operating activities393,340 199,690 206,223 
INVESTING ACTIVITIES:
  Net (increase) decrease in advances to subsidiaries(313)315 69 
  Net cash received from sale of Umpqua Investments, Inc.10,781 — — 
    Net cash provided by investing activities10,468 315 69 
FINANCING ACTIVITIES:
  Net increase in advances from subsidiaries409 5 179 
  Dividends paid on common stock(183,734)(184,978)(185,101)
  Repurchases and retirement of common stock(80,690)(8,655)(7,268)
  Net proceeds from issuance of common stock34 — 21 
   Net cash used in financing activities(263,981)(193,628)(192,169)
Net increase in cash and cash equivalents139,827 6,377 14,123 
Cash and cash equivalents, beginning of year136,745 130,368 116,245 
Cash and cash equivalents, end of year$276,572 $136,745 $130,368