Junior Subordinated Debentures (Tables)

3 Months Ended

Mar. 31, 2012

Junior Subordinated Debentures [Abstract]

Junior Subordinated Debentures

Trust Name	Issue Date	Issued Amount		Carrying Value (1)		Rate (2)	Effective Rate (3)			Maturity Date	Redemption Date
AT FAIR VALUE:
Umpqua Statutory Trust II	October 2002	$	20,619	$	14,246	Floating(4)		5.65	%	October 2032	October 2007
Umpqua Statutory Trust III	October 2002		30,928		21,590	Floating(5)		5.66	%	November 2032	November 2007
Umpqua Statutory Trust IV	December 2003		10,310		6,684	Floating(6)		5.28	%	January 2034	January 2009
Umpqua Statutory Trust V	December 2003		10,310		6,665	Floating(6)		5.14	%	March 2034	March 2009
Umpqua Master Trust I	August 2007		41,238		21,329	Floating(7)		3.53	%	September 2037	September 2012
Umpqua Master Trust IB	September 2007		20,619		12,939	Floating(8)		5.14	%	December 2037	December 2012
			134,024		83,453
AT AMORTIZED COST:
HB Capital Trust I	March 2000		5,310		6,315	10.875%		8.26	%	March 2030	March 2010
Humboldt Bancorp Statutory Trust I	February 2001		5,155		5,887	10.200%		8.27	%	February 2031	February 2011
Humboldt Bancorp Statutory Trust II	December 2001		10,310		11,365	Floating(9)		3.22	%	December 2031	December 2006
Humboldt Bancorp Statutory Trust III	September 2003		27,836		30,572	Floating(10)		2.69	%	September 2033	September 2008
CIB Capital Trust	November 2002		10,310		11,208	Floating(5)		3.24	%	November 2032	November 2007
Western Sierra Statutory Trust I	July 2001		6,186		6,186	Floating(11)		4.12	%	July 2031	July 2006
Western Sierra Statutory Trust II	December 2001		10,310		10,310	Floating(9)		4.07	%	December 2031	December 2006
Western Sierra Statutory Trust III	September 2003		10,310		10,310	Floating(12)		3.47	%	September 2033	September 2008
Western Sierra Statutory Trust IV	September 2003		10,310		10,310	Floating(12)		3.47	%	September 2033	September 2008
			96,037		102,463
	Total	$	230,061	$	185,916

(1) Includes purchase accounting adjustments, net of accumulated amortization, for junior subordinated debentures assumed in connection with previous mergers as well as fair value adjustments related to trusts recorded at fair value.

(2) Contractual interest rate of junior subordinated debentures.

(3) Effective interest rate based upon the carrying value as of March 2012.

(4) Rate based on LIBOR plus 3.35%, adjusted quarterly.

(5) Rate based on LIBOR plus 3.45%, adjusted quarterly.

(6) Rate based on LIBOR plus 2.85%, adjusted quarterly.

(7) Rate based on LIBOR plus 1.35%, adjusted quarterly.

(8) Rate based on LIBOR plus 2.75%, adjusted quarterly.

(9) Rate based on LIBOR plus 3.60%, adjusted quarterly.

(10) Rate based on LIBOR plus 2.95%, adjusted quarterly.

(11) Rate based on LIBOR plus 3.58%, adjusted quarterly.

(12) Rate based on LIBOR plus 2.90%, adjusted quarterly.