Umpqua holdings corporation (UMPQ)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income

354,095

316,263

242,313

230,068

222,539

147,658

98,291

101,891

74,496

28,326

-153,366

Adjustments to reconcile net income to net cash used in operating activities:
Gain on Pivotus divestiture

0

5,778

0

0

-

-

-

-

-

-

-

Tax deficiency (excess tax benefits) from the exercise of stock options

-

-

-

-

-

-

65

52

6

7

1

Goodwill impairment

-

-

-

142

0

0

-

-

-

-

111,952

Deferred income tax (benefit) expense

-3,544

18,812

77,428

113,834

99,966

80,027

8,045

6,421

2,000

4,393

-18,360

Amortization of investment premiums, net

-26,449

-9,917

-29,340

-23,743

-23,544

-20,822

-32,663

-45,082

-36,086

-20,464

-9,301

Loss on sale of investment securities, net

-7,184

14

27

-

-

-

-

-

-

-

-

Debt and Equity Securities, Realized Gain (Loss)

-

-

-

858

-

-

-

-

-

-

-

Gain on sale of investment securities, net

-

-

-

-

2,922

2,904

209

4,023

7,735

2,326

8,896

Other-than-temporary impairment on investment securities available for sale

-

-

-

-

-

-

-

-

-

-

239

Other-than-temporary impairment on investment securities held to maturity

-

-

-

-

-

-

-

155

359

414

10,334

Loss (gain) on sale of other real estate owned, net

-851

410

703

1,998

888

127

912

-1,113

-1,743

-4,023

-10,957

Valuation adjustment on other real estate owned

-3,012

-1,277

-146

-1,719

2,782

3,728

2,160

11,542

8,947

4,074

12,247

Gain on sale of covered other real estate owned

-

-

-

-

-

-

-

-

1,228

4,113

-

Valuation adjustment on covered other real estate owned

-

-

-

-

-

-

-

-

8,709

1,941

-

Provision for credit losses

72,515

55,905

47,254

41,674

36,589

40,241

10,716

29,201

46,220

113,668

209,124

Change in cash surrender value of bank owned life insurance

8,443

8,396

8,300

8,595

8,501

9,713

4,280

3,145

3,212

-

-

Change in FDIC indemnification asset

-

-

-

82

853

-15,151

-25,549

-15,234

-6,168

-16,445

-

Depreciation, amortization and accretion

43,286

52,345

57,968

59,256

51,593

39,209

23,636

16,040

13,151

9,199

11,649

Loss (gain) on sale of premises and equipment

2,821

2,037

1,442

-6,737

-3,655

-1,482

-639

-

-

-

-

Gain on store divestiture

1,225

1,157

0

0

-

-

-

-

-

-

-

Additions to residential mortgage servicing rights carried at fair value

25,169

29,069

33,445

37,082

35,284

23,311

17,963

17,710

6,720

-5,645

-7,570

Change in fair value of residential mortgage servicing rights carried at fair value

-44,783

-13,195

-23,267

-25,926

-20,726

-16,587

2,374

-8,466

-2,990

-3,878

-3,150

Gain on redemption of junior subordinated debentures at amortized cost

0

1,043

0

0

-

-

-

-

-

-

-

Change in junior subordinated debentures carried at fair value

0

0

-14,946

-6,752

-6,163

-5,849

-2,193

-2,175

-2,217

4,978

6,854

Stock-based compensation

8,373

7,513

9,612

9,790

14,383

15,292

5,017

4,041

3,785

3,505

2,188

Net decrease (increase) in equity and other investments

16,702

-900

1,291

1,378

-

-

-

-

-

-

-

Gain on equity securities, net

83,475

-1,484

0

-

-

-

-

-

-

-

-

Equity Securities, FV-NI, Unrealized Gain (Loss)

-

-

-

0

-

-

-

-

-

-

-

Net increase in equity and other account assets

-

-

-

-

-413

-452

2,211

1,438

-715

751

286

Gain on sale of loans and leases, net

95,353

77,772

145,007

179,929

150,855

93,294

65,644

91,945

26,838

18,794

6,649

Change in fair value of loans held for sale

10,557

-2,606

453

-3,517

-696

9,688

-14,503

13,965

3,435

247

-

Origination of loans held for sale

3,089,698

2,872,994

3,414,431

3,990,278

3,497,920

2,146,829

1,599,683

1,987,262

821,744

702,449

682,535

Proceeds from sales of loans held for sale

2,838,171

3,033,383

3,669,679

4,127,503

3,549,226

2,267,471

1,863,548

1,875,138

828,952

678,990

677,598

Change in other assets and liabilities:
Net increase in other assets

141,844

29,179

-1,041

27,080

-24,692

49,165

-31,902

-5,401

15,404

-46,997

72,570

Net decrease in other liabilities

-367

19,493

-52,388

11,622

15,290

38,632

-7,589

22,255

15,177

2,914

-8,426

Net cash used in operating activities

-80,479

505,244

515,507

415,167

376,740

357,570

417,932

24,615

182,352

198,649

93,226

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of investment securities available for sale

697,969

449,359

952,819

852,101

1,074,205

363,064

51,191

994,574

1,190,686

1,498,224

1,002,490

Purchases of investment securities held to maturity

-

-

-

-

-

-

2,126

931

1,573

-

-

Proceeds from investment securities available for sale

918,658

440,241

559,746

619,752

805,640

1,238,676

803,866

1,481,600

927,276

408,670

464,376

Proceeds from investment securities held to maturity

563

493

520

501

598

741

1,353

1,304

1,637

1,675

2,282

Proceeds from sale of Visa B stock

81,853

0

0

-

-

-

-

-

-

-

-

Purchases of restricted equity securities

220,200

45,601

243,171

600

0

0

-

-

-

-

-

Redemption of restricted equity securities

214,005

48,841

245,191

2,021

-72,442

-5,615

-2,758

-1,629

-1,894

-472

-1,280

Net change in loans and leases

1,085,272

1,618,333

1,881,924

1,144,443

1,816,164

943,075

391,185

-

-

-

-

Net loan and lease originations

-

-

-

-

-

-

-

-472,581

-327,032

146,252

121,257

Net covered loan and lease paydowns

-

-

-

-

-

-

-

-

119,772

119,941

-

Proceeds from sales of loans and leases

251,782

164,037

271,124

475,810

288,805

356,464

63,042

14,242

11,185

38,744

12,519

Proceeds from fee on termination of merger transaction

-

-

-

-

-

-

-

1,600

0

-

-

Proceeds from disposals of furniture and equipment

-

-

-

-

-

-

-

2,029

921

1,237

270

Change in premises and equipment

12,676

8,989

4,278

30,313

-

-

-

22,817

33,974

47,559

11,239

Recapture of provision for covered loan losses

-

-

-

-

-

-

-

-

16,141

5,151

-

Bargain purchase gain on acquisition

-

-

-

-

-

-

-

-

-

6,437

-

Proceeds from bank owned life insurance death benefits

1,869

1,481

1,601

814

6,476

0

-

1,870

818

14

-

Proceeds from insurance settlement on loss of property

-

-

-

-

-

-

575

1,425

0

-

-

Net change in premises and equipment

-

-

-

-

69,341

59,514

34,224

-

-

-

-

Proceeds from bank owned life insurance death benefit

-

-

-

-

5,351

3,723

1,173

-

-

-

-

Purchase of bank owned life insurance

0

0

750

0

0

-

-

-

-

-

-

Payments for (Proceeds from) Mortgage Servicing Rights

-34,401

0

0

-

-

-

-

-

-

-

-

Proceeds from redemption of bank owned life insurance cash surrender value

-

-

-

-

-

-

0

-

-

-

-

Net change in proceeds from FDIC indemnification asset

0

0

632

140

684

-2,667

5,332

29,478

54,881

48,443

-

Proceeds from sales of other real estate owned

7,481

3,223

6,705

15,855

22,803

15,931

26,522

39,787

35,340

25,124

26,167

Net cash paid in store divestiture

44,646

35,219

0

0

-

127,557

0

-

-

-

-

Proceeds from sale of acquired insurance portfolio

-

-

-

-

-

-

-

-

-

5,150

-

Net cash acquired in acquisition, net of consideration paid

-

-

-

-

-

116,867

149,658

-39,328

0

179,046

178,905

Proceeds from sales of covered other real estate owned

-

-

-

-

-

-

-

0

17,615

14,598

-

Net cash (used in) provided by investing activities

-550,151

-1,499,185

-1,997,423

-912,564

-1,756,911

242,140

276,237

123,389

-382,744

-556,431

-449,187

CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposit liabilities

1,393,940

1,226,507

928,462

1,315,886

820,210

905,396

-261,184

-107,445

-196,063

847,895

667,610

Net increase (decrease) in securities sold under agreements to repurchase

14,157

2,852

-58,649

48,388

-8,761

-496,307

87,807

12,470

50,846

28,579

-2,408

Proceeds from borrowings

940,670

100,000

205,000

490,000

150,000

0

0

-

-

-

-

Repayment of borrowings

785,670

150,652

254,998

525,014

264,998

97,003

211,727

55,404

4,993

165,789

130,191

Repayment of junior subordinated debentures at amortized cost

0

10,598

0

0

-

-

8,764

0

0

-

-

Proceeds from issuance of preferred stock

-

-

-

-

-

-

-

-

-

198,289

-

Redemption of preferred stock

-

-

-

-

-

-

-

-

-

214,181

-

Repurchase of warrants issued to U.S. Treasury

-

-

-

-

-

-

-

-

-

4,500

-

Net proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

89,786

245,697

Dividends paid on preferred stock

-

-

-

-

-

-

-

-

-

3,686

10,739

Dividends paid on common stock

185,101

173,914

145,398

141,074

134,618

99,233

50,768

46,201

25,317

20,626

13,399

(Tax deficiency) excess tax benefits from stock based compensation

-

-

-

-

-

-

65

52

6

7

1

Proceeds from stock options exercised

21

1,065

961

2,626

1,481

9,368

6,398

981

308

1,004

301

Repurchase and retirement of common stock

7,268

12,962

8,614

17,708

14,589

7,183

9,360

7,436

29,754

284

174

Net cash provided by financing activities

1,370,749

982,298

666,764

1,173,104

548,725

215,038

-447,533

-202,983

-204,967

756,494

756,698

Net increase in cash and cash equivalents

740,119

-11,643

-815,152

675,707

-831,446

814,748

246,636

-54,979

-405,359

398,712

400,737

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest

209,526

124,333

80,015

70,796

67,884

55,235

40,826

52,198

78,690

99,556

106,541

Income taxes

129,616

71,985

30,087

8,164

13,263

7,098

41,993

44,350

47,608

285

48

SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Changes in unrealized gains and losses on investment securities available for sale, net of taxes

69,238

-26,304

781

-18,785

-14,626

16,987

-29,378

-9,616

8,620

-613

9,186

Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes

19,200

-17,300

0

0

-

-

-

-

-

-

-

Cumulative effect adjustment to retained earnings

0

9,710

0

0

-

-

-

-

-

-

-

Tax rate effect reclassification

0

0

-4,430

0

0

-

-

-

-

-

-

Change in unrealized losses on investment securities held to maturity related to factors other than credit, net of taxes

-

-

-

-

-

57

56

188

209

603

-980

Change in GNMA mortgage loans recognized due to repurchase option

-4,581

-3,510

1,571

-8,319

8,114

7,000

-

-

-

-

-

Transfer of loans to other real estate owned

3,817

3,314

11,222

5,888

9,062

24,873

24,193

24,686

-

-

-

Change in unrealized loss on investment securities transferred to held to maturity, net of taxes

-

-

-

-

-

-

-

-

-

-

2,677

Transfers from other real estate owned to loans due to internal financing

136

0

78

5,881

0

0

-

-

47,414

41,491

50,914

Transfer of covered loans to covered other real estate owned

-

-

-

-

-

-

-

-

15,271

15,350

-

Transfer of covered loans to non-covered loans

-

-

-

-

-

-

-

-

12,263

-

-

Transfer from FDIC indemnification asset to due from FDIC and other

-

-

-

-

-

-

4,075

23,057

49,156

84,660

-

Receivable from sales of noncovered other real estate owned and loans

-

-

-

-

-

-

-

-

1,100

45

4,875

Receivable from sales of covered other real estate owned

-

-

-

-

-

-

-

-

547

-

-

Conversion of preferred stock to common stock

-

-

-

-

-

-

-

-

-

198,289

-

Assets acquired

-

-

-

-

-

9,877,572

376,071

317,751

0

1,512,048

4,978

Liabilities assumed

-

-

-

-

-

8,767,025

219,961

317,751

0

1,505,611

183,883