• Umpqua Holdings Corporation
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  • Umpqua Bank Issues Statement on News from FDIC
    Umpqua Holdings Corporation to Acquire Insured Deposits of Bank of Clark County From FDIC 
    Company Release - 01/16/2009 23:35

    PORTLAND, Ore.--(BUSINESS WIRE)-- Umpqua Holdings Corporation (NASDAQ: UMPQ), parent company of Umpqua Bank and Strand, Atkinson, Williams & York, Inc., today issued the following statement regarding the news that Umpqua Bank will assume approximately $186 million of insured deposits from the Federal Deposit Insurance Corporation (FDIC), acting in its capacity as receiver for Bank of Clark County.

    "As one of the nation's strongest community banks Umpqua is well positioned to acquire the insured deposits of Bank of Clark County from the FDIC," said Ray Davis, Umpqua Holdings Corporation president and CEO. "As a community bank with a significant presence in Portland and Vancouver, Umpqua has always been committed to the financial health of the communities we serve. This is a critical opportunity to protect the insured deposits of Bank of Clark County customers."

    About Umpqua Holdings Corporation

    Umpqua Holdings Corporation (NASDAQ: UMPQ) 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 148 locations between Napa, Calif., and Bellevue, Wash., along the Oregon and Northern California Coast and in Central Oregon. Umpqua Holdings also owns a retail brokerage subsidiary Strand, Atkinson, Williams & York Inc., which has locations in Umpqua Bank stores and in dedicated offices throughout Oregon and Southwest Washington. Umpqua Bank's Private Client Services Division provides tailored financial services and products to individual customers. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit www.umpquaholdingscorp.com.

    
        Source: Umpqua Holdings Corporation

    Contact: Umpqua Bank Eric Lucero, 503-727-4125 (office) 503-381-7520 (cell) EricLucero@UmpquaBank.com or LANE PR Kirsten Forsberg, 503-546-7892 (office) 503-887-4749 (cell) Kirsten@lanepr.com