• Umpqua Holdings Corporation
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  • Umpqua Bank Helps Kids Save $2 Million
    Learn To Earn Program Teaches Children to Save, Share, and Spend Responsibly 
    Company Release - 01/21/2009 14:27

    EUREKA, Calif.--(BUSINESS WIRE)-- Umpqua Bank'sLearn to Earn program, which offers on-campus banking, complete with child savings accounts and money-management lessons, to students in grades kindergarten through eighth at nearly 100 Northern California schools, added eight new schools, four additional Umpqua Bank stores and almost 1,200 new students to its savings program in the first four months of the 2008-2009 school year. With this growth, Umpqua Bank helped students save more than $552,000 since Sept. 1, 2008; increasing the bank's total active Learn to Earn student savings balances to nearly $2 million.

    "Umpqua Bank's Learn to Earn program is designed to encourage students, along with support from their parents and teachers, to form responsible money-management habits early on," said Lani Hayward, executive vice president of creative strategies for Umpqua Bank. "Teaching children to save, share, and spend money wisely are important, lifelong skills that will be invaluable both for children and their communities, and Umpqua is excited to be part of the process."

    "There's never been a better time to teach children to save and learn the importance of financial literacy. Children are exposed to the challenges facing our economy either through the media, their families or day-to-day interaction," said Molly Barnum, a kindergarten teacher at John McManus Elementary in Chico, Calif. "Children understand that our nation is in an uncomfortable position, but not necessarily why. Umpqua's Learn to Earn program gives students, parents, and teachers the tools and opportunity to talk about money-management in a way that kids understand and enjoy."

    John McManus Elementary has been active in Umpqua Bank's Learn to Earn program since October 2007.

    Between Sept. 1 and Dec. 31, 2008, Umpqua Bank's Learn to Earn recorded the following growth:

        --  Added eight additional Learn to Earn schools.
        --  Opened 1,162 new Learn to Earn child savings accounts; an increase from
            1,091 accounts opened during the same timeframe in 2007.
        --  Increased total Learn to Earn child savings accounts by 13.2 percent for
            a total of 7,284 active accounts.
        --  Grew Learn to Earn child saving account balances by more than $552,000;
            increasing total active student account balance to nearly $2 million.

    For additional information on Learn to Earn, please visit www.umpquabank.com or e-mail community@umpquabank.com.

    About Learn to Earn

    Learn to Earn (LTE) was developed in 1996 in Arcata, Calif., to teach children the value of saving money and to encourage life-long money management skills in grades kindergarten through eighth. The program offers a child savings account designed just for students that can be opened for as little as $1.00 and earns interest immediately. LTE uses immediate rewards, games, ongoing events and in-class curriculum to make financial literacy fun and easy to understand. The program currently provides children with the convenience of on-campus banking in nearly 100 schools and serves more than 7,000 student accounts.

    About Umpqua Bank

    Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ:UMPQ) and has 150 locations between Napa, Calif. and Bellevue, Wash., along the Oregon and Northern California Coast and in both Central California and Central Oregon. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including the Wall Street Journal, New York Times, BusinessWeek, Fast Company and CNBC. The company, recognized for the second year in a row, ranked 13th on Fortune Magazine's 2008 list of the country's "100 Best Companies To Work For." Umpqua Holdings also owns 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 http://www.umpquabank.com/.

        Source: Umpqua Bank

    Contact: Media: Umpqua Bank Lani Hayward, 503-727-4132 LaniHayward@UmpquaBank.com or Lane PR Shannon Riggs, 503-546-7885 Shannon@lanepr.com