Parent Company Financial Statements (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Schedule Of Condensed Balance Sheet

Condensed Balance Sheets

December 31, 2021 and 2020

(in thousands)	December 31, 2021		December 31, 2020
ASSETS
Non-interest bearing deposits with subsidiary bank	$	276,572	$	136,745
Investments in:
Bank subsidiary	2,860,132		2,913,649
Non-bank subsidiaries	16,660		30,266
Other assets	1,847		523
Total assets	$	3,155,211	$	3,081,183
LIABILITIES AND SHAREHOLDERS' EQUITY
Payable to subsidiary bank	$	507	$	98
Other liabilities	24,312		33,023
Junior subordinated debentures, at fair value	293,081		255,217
Junior subordinated debentures, at amortized cost	88,041		88,268
Total liabilities	405,941		376,606
Shareholders' equity	2,749,270		2,704,577
Total liabilities and shareholders' equity	$	3,155,211	$	3,081,183

Schedule Of Condensed Statements Of Operations

Condensed Statements of Operations

Years Ended December 31, 2021, 2020, and 2019

(in thousands)	2021		2020		2019
INCOME
Dividends from subsidiaries	$	407,371	$	213,464	$	219,143
Other income (loss)	5,007		11		(18)
Total income	412,378		213,475		219,125
EXPENSES
Management fees paid to subsidiaries	1,590		1,165		1,144
Other expenses	17,834		17,894		25,311
Total expenses	19,424		19,059		26,455
Income before income tax benefit and equity in undistributed earnings of subsidiaries	392,954		194,416		192,670
Income tax benefit	(3,470)		(4,245)		(5,742)
Net income before equity in undistributed earnings of subsidiaries	396,424		198,661		198,412
Equity in undistributed earnings (losses) of subsidiaries	23,876		(1,722,081)		155,683
Net income (loss)	$	420,300	$	(1,523,420)	$	354,095

Schedule Of Condensed Statements of Cash Flows

Condensed Statements of Cash Flows

Years Ended December 31, 2021, 2020, and 2019

(in thousands)	2021		2020		2019
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 liabilities	2,589		1,262		79
Net cash provided by operating activities	393,340		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 activities	10,468		315		69
FINANCING ACTIVITIES:
Net increase in advances from subsidiaries	409		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 stock	34		—		21
Net cash used in financing activities	(263,981)		(193,628)		(192,169)
Net increase in cash and cash equivalents	139,827		6,377		14,123
Cash and cash equivalents, beginning of year	136,745		130,368		116,245
Cash and cash equivalents, end of year	$	276,572	$	136,745	$	130,368