Segment Information

3 Months Ended

Mar. 31, 2012

Segment Information [Abstract]

Segment Information

Note 14 – Segment Information

The Company operates three primary segments: Community Banking, Mortgage Banking and Wealth Management. The Community Banking segment's principal business focus is the offering of loan and deposit products to business and retail customers in its primary market areas. As of March 31, 2012, the Community Banking segment operated 194 locations throughout Oregon, Northern California, Washington, and Nevada.

The Mortgage Banking segment, which operates as a division of the Bank, originates, sells and services residential mortgage loans.

The Wealth Management segment consists of the operations of Umpqua Investments, which offers a full range of retail brokerage 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 Company accounts for intercompany fees and services between Umpqua Investments and the Bank at estimated fair value according to regulatory requirements for services provided. Intercompany items relate primarily to management services, referral fees and deposit rebates.

Summarized financial information concerning the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables:

Segment Information

(in thousands)

(in thousands)

		000000000		000000000		000000000		000000000
	Three Months Ended March 31, 2012
	Community Banking		Wealth Management		Mortgage Banking		Consolidated
Interest income	$	107,280	$	4,118	$	4,244	$	115,642
Interest expense		12,421		267		599		13,287
Net interest income		94,859		3,851		3,645		102,355
Provision for non-covered loan and lease losses		3,167		-		-		3,167
Provision for covered loan and lease losses		(31)		-		-		(31)
Non-interest income		10,864		3,090		13,283		27,237
Non-interest expense		76,719		3,729		7,248		87,696
Income before income taxes		25,868		3,212		9,680		38,760
Provision for income taxes		8,222		1,163		3,872		13,257
Net income		17,646		2,049		5,808		25,503
Dividends and undistributed earnings allocated to participating securities		167		-		-		167
Net earnings available to common shareholders	$	17,479	$	2,049	$	5,808	$	25,336
(in thousands)
	Three Months Ended March 31, 2011
	Community Banking		Wealth Management		Mortgage Banking		Consolidated
Interest income	$	119,057	$	2,467	$	3,368	$	124,892
Interest expense		18,812		580		598		19,990
Net interest income		100,245		1,887		2,770		104,902
Provision for non-covered loan and lease losses		15,030		-		-		15,030
Provision for covered loan and lease losses		7,268		-		-		7,268
Non-interest income		12,676		3,596		5,313		21,585
Non-interest expense		75,759		4,102		4,340		84,201
Income before income taxes		14,864		1,381		3,743		19,988
Provision for income taxes		4,793		231		1,497		6,521
Net income		10,071		1,150		2,246		13,467
Dividends and undistributed earnings allocated to participating securities		62		-		-		62
Net earnings available to common shareholders	$	10,009	$	1,150	$	2,246	$	13,405

(in thousands)

		000000000000		000000000000		000000000000		000000000000
	March 31, 2012
	Community Banking		Wealth Management		Mortgage Banking		Consolidated
Total assets	$	10,914,373	$	57,957	$	480,848	$	11,453,178
Total loans and leases (covered and non-covered)	$	6,164,409	$	43,878	$	326,162	$	6,534,449
Total deposits	$	8,695,833	$	399,091	$	20,241	$	9,115,165
	December 31, 2011
	Community Banking		Wealth Management		Mortgage Banking		Consolidated
Total assets	$	11,086,493	$	53,044	$	423,818	$	11,563,355
Total loans and leases (covered and non-covered)	$	6,171,368	$	38,810	$	300,371	$	6,510,549
Total deposits	$	8,830,353	$	390,992	$	15,345	$	9,236,690