• Umpqua Holdings Corporation
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  • Umpqua Bank Issues Statement on News from FDIC
    Company Release - 01/22/2010 21:23

    Acquires Banking Operations of EvergreenBank

    PORTLAND, Ore.--(BUSINESS WIRE)-- Umpqua Holdings Corporation (NASDAQ:UMPQ) today issued the following statement regarding the news that Umpqua Bank will acquire the banking operations of EvergreenBank in a purchase and assumption agreement with the Federal Deposit and Insurance Corporation (FDIC).

    "Umpqua Bank has always been committed to the financial health of the communities we serve," said Ray Davis, Umpqua Holdings Corporation president and CEO. "As one of the nation's strongest community banks, Umpqua is well positioned to assume the deposits and loans of EvergreenBank, and we will work quickly to make this transition as smooth as possible for customers and employees."

    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 162 locations between San Francisco, and Seattle, Wash., along the Oregon and Northern California Coast and in Central Oregon. Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments Inc., which has locations in Umpqua Bank stores and in dedicated offices in Oregon. Umpqua's Private Bank Division serves high net worth individuals and non-profits providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit www.umpquaholdingscorp.com.

        Source: Umpqua Holdings Corporation

    Contact: Umpqua Holdings Corporation Lani Hayward, 503-727-4132 lanihayward@umpquabank.com or LANE PR Eve Callahan, 503-546-7867 eve@lanepr.com