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Junior and Other Subordinated Debentures (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Junior and Other Subordinated Debentures

Following is information about the Company's wholly-owned Trusts as of December 31, 2024: 

(dollars in thousands)
Trust Name						Issue Date						Issued Amount						Carrying Value (1)						Rate (2)						Effective Rate (3)						Maturity Date
AT FAIR VALUE:
Umpqua Statutory Trust II						October 2002						$	20,619					$	19,942					Floating rate, SOFR + 0.26161% plus 3.35%, adjusted quarterly						8.48		%				October 2032
Umpqua Statutory Trust III						October 2002						30,928						30,030						Floating rate, SOFR + 0.26161% plus 3.45%, adjusted quarterly						8.48		%				November 2032
Umpqua Statutory Trust IV						December 2003						10,310						9,638						Floating rate, SOFR + 0.26161% plus 2.85%, adjusted quarterly						8.31		%				January 2034
Umpqua Statutory Trust V						December 2003						10,310						9,480						Floating rate, SOFR + 0.26161% plus 2.85%, adjusted quarterly						8.11		%				March 2034
Umpqua Master Trust I						August 2007						41,238						32,370						Floating rate, SOFR + 0.26161% plus 1.35%, adjusted quarterly						7.61		%				September 2037
Umpqua Master Trust IB						September 2007						20,619						18,408						Floating rate, SOFR + 0.26161% plus 2.75%, adjusted quarterly						8.26		%				December 2037
Sterling Capital Trust III						April 2003						14,433						13,905						Floating rate, SOFR + 0.26161% plus 3.25%, adjusted quarterly						8.39		%				April 2033
Sterling Capital Trust IV						May 2003						10,310						9,788						Floating rate, SOFR + 0.26161% plus 3.15%, adjusted quarterly						8.36		%				May 2033
Sterling Capital Statutory Trust V						May 2003						20,619						19,559						Floating rate, SOFR + 0.26161% plus 3.25%, adjusted quarterly						8.26		%				June 2033
Sterling Capital Trust VI						June 2003						10,310						9,703						Floating rate, SOFR + 0.26161% plus 3.20%, adjusted quarterly						8.31		%				September 2033
Sterling Capital Trust VII						June 2006						56,702						45,972						Floating rate, SOFR + 0.26161% plus 1.53%, adjusted quarterly						7.58		%				June 2036
Sterling Capital Trust VIII						September 2006						51,547						41,928						Floating rate, SOFR + 0.26161% plus 1.63%, adjusted quarterly						7.68		%				December 2036
Sterling Capital Trust IX						July 2007						46,392						37,143						Floating rate, SOFR + 0.26161% plus 1.40%, adjusted quarterly						7.81		%				October 2037
Lynnwood Financial Statutory Trust I						March 2003						9,279						8,736						Floating rate, SOFR + 0.26161% plus 3.15%, adjusted quarterly						8.22		%				March 2033
Lynnwood Financial Statutory Trust II						June 2005						10,310						8,660						Floating rate, SOFR + 0.26161% plus 1.80%, adjusted quarterly						7.64		%				June 2035
Klamath First Capital Trust I						July 2001						15,464						15,633						Floating rate, SOFR + 0.42826% plus 3.75%, adjusted semiannually						9.16		%				July 2031
Total junior subordinated debentures, at fair value												379,390						330,895
AT AMORTIZED COST:
Humboldt Bancorp Statutory Trust II						December 2001						10,310						10,681						Floating rate, SOFR + 0.26161% plus 3.60%, adjusted quarterly						7.42		%				December 2031
Humboldt Bancorp Statutory Trust III						September 2003						27,836						28,911						Floating rate, SOFR + 0.26161% plus 2.95%, adjusted quarterly						6.83		%				September 2033
CIB Capital Trust						November 2002						10,310						10,650						Floating rate, SOFR + 0.26161% plus 3.45%, adjusted quarterly						7.56		%				November 2032
Western Sierra Statutory Trust I						July 2001						6,186						6,186						Floating rate, SOFR + 0.26161% plus 3.58%, adjusted quarterly						8.43		%				July 2031
Western Sierra Statutory Trust II						December 2001						10,310						10,310						Floating rate, SOFR + 0.26161% plus 3.60%, adjusted quarterly						8.21		%				December 2031
Western Sierra Statutory Trust III						September 2003						10,310						10,310						Floating rate, SOFR + 0.26161% plus 2.90%, adjusted quarterly						7.82		%				September 2033
Western Sierra Statutory Trust IV						September 2003						10,310						10,310						Floating rate, SOFR + 0.26161% plus 2.90%, adjusted quarterly						7.82		%				September 2033
Bank of Commerce Holdings Trust II						July 2005						10,310						10,310						Floating rate, SOFR + 0.26161% plus 1.58%, adjusted quarterly						6.20		%				September 2035
Total junior subordinated debentures, at amortized cost												95,882						97,668
Total junior subordinated debentures												$	475,272					$	428,563

(1)Includes acquisition 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 December 31, 2024.

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- References

No definition available.

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- Definition

Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 470
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478878/942-470-45-1

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