• Umpqua Holdings Corporation
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  • Umpqua Holdings Corporation and Humboldt Bancorp Shareholders Approve Merger
    Company Release - 07/08/2004 08:01

    PORTLAND, Ore., July 8 /PRNewswire-FirstCall/ -- Umpqua Holdings Corporation (Nasdaq: UMPQ), parent company of Umpqua Bank and Strand, Atkinson, Williams & York, Inc., and California-based Humboldt Bancorp (Nasdaq: HBEK) announced today that of the shares voted at their respective meetings, over 95 percent were cast in favor of the merger between the two companies. The shareholder meetings, held on July 7, approve Oregon-based Umpqua Holdings' acquisition of Humboldt Bancorp and the merger of Humboldt's principal operating subsidiary, Humboldt Bank, into Umpqua Bank.

    (Logo: http://www.newscom.com/cgi-bin/prnh/20030917/SFW078LOGO )

    The companies have received all regulatory approvals and the anticipated closing date is July 9.

    About Umpqua Holdings Corporation

    Umpqua Holdings Corporation, with total assets of about $3 billion, is the parent company of Umpqua Bank, an Oregon based community bank recognized for its entrepreneurial approach, innovative use of technology, and distinctive banking solutions. Umpqua Bank has 64 stores throughout Oregon and Southwest Washington. Umpqua Holdings also owns a retail brokerage subsidiary, Strand, Atkinson, Williams & York, Inc. which has 14 locations throughout Oregon and Southwest Washington and offers brokerage services within Umpqua Bank stores. Additionally, Umpqua Bank's Private Client Services Division provides tailored financial services and products to individual customers. Umpqua Holdings Corporation is headquartered in Portland, Oregon. For more information, visit www.umpquaholdingscorp.com.

    About Humboldt Bancorp

    Humboldt Bancorp, with total assets of approximately $1.5 billion, is the bank holding company for Humboldt Bank and its divisions, Capitol Valley Bank, Feather River State Bank and Tehama Bank, which offer business and consumer banking services at 27 locations throughout Northern California. For additional information, please visit www.humboldtbancorp.com.

    This press release includes a forward-looking statement regarding the expected date of consummation of the merger. This statement is subject to risk and uncertainty. The ability of Umpqua Holdings Corporation and Humboldt Bancorp to fulfill their respective closing conditions of the transaction is a risk factor, and the actual closing may occur later than anticipated.

    SOURCE  Umpqua Holdings Corporation
        -0-                             07/08/2004
        /CONTACT:  media, Charley Ciresi of Lane Marketing, +1-503-546-7878, or
    Charley@lanemarketing.com, for Umpqua Holdings Corporation; or Dan Sullivan,
    +1-503-546-2492, or dansullivan@umpquabank.com, or Lani Hayward,
    +1-503-228-2117, or lanihayward@umpquabank.com, or Pat Rusnak,
    +1-916-783-2812, or patrusnak@umpquabank.com, all of Umpqua Holdings
    Corporation/
        /Photo:  http://www.newscom.com/cgi-bin/prnh/20030917/SFW078LOGO
                 AP Archive:  http://photoarchive.ap.org
                 PRN Photo Desk, 888-776-6555 or 212-782-2840/
        /Web site:  http://www.humboldtbancorp.com /
        /Web site:  http://www.umpquaholdingscorp.com /
        (UMPQ HBEK)
    
    CO:  Umpqua Holdings Corporation; Umpqua Bank; Humboldt Bancorp;
         Strand, Atkinson, Williams & York, Inc.
    ST:  Oregon
    IN:  FIN
    SU:  TNM
    
    RN-MW 
    -- SFTH025 --
    9141 07/08/200408:01 EDThttp://www.prnewswire.com