mergers & acquisitions
M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Umpqua Holdings Corp.
Actual Acquirer: Umpqua Holdings Corp.
Target: VRB Bancorp
Deal Type: Bank & Thrift Company
Agreement Date8/15/2000
Announcement Date8/15/2000
Announced Deal Value ($M)56.00
Completion Date12/1/2000
Announced Deal Value Per Share ($)6.71
Consideration Breakout
Common Stock ($M)52.1
Common Stock Issued6,768,000
Deal Pricing Ratios
Price / Book (%)NMNM
Price / Tangible Book (%)NMNM
Price / Earnings (x)NMNM
Price / Deposits (%)NMNM
Price / Assets (%)NMNM
Tangible Book Premium/ Deposits (%)NMNM
Deal Terms
Description of Consideration
Umpqua exchanged 0.8135 share for each share of VRB held.
Accounting MethodPooling of Interests
In-State Transaction?Yes
Merger of Equals?Yes
Geographic Expansion?Market Expansion
Goodwill Generated ($000)0
Estimated Cost Savings (%)NA
Estimated Cost Savings ($000)NA
Est. Restructuring Charges ($000)2,000
Maximum Termination Fee ($000)3,000
Minimum Termination Fee ($000)NA
Exchange Ratio (Common For Common)0.813500
Exchange Ratio (Common For Preferred)NA
Exchange Ratio (Preferred For Common)NA
Exchange Ratio (Preferred For Preferred)NA
Lockup AgreementYes
Strike Price ($)5.0700
% of Shares Outstanding19.90
Shares Under Option1,653,450
Core Deposit Intangibles ($000)NM
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerYesRagen MacKenzie Group Inc.
SellerYesD.A. Davidson & Co.

Deal Advisers - Legal Counsel
Party AdvisedAdviser Hired?Firm Name
BuyerYesFoster Pepper PLLC
SellerYesDavis Wright Tremaine LLP

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