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mergers & acquisitions

M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Umpqua Holdings Corporation
Actual Acquirer: Umpqua Bank
Target: Nevada Security Bank
Seller: FDIC
Deal Type: Government Assisted
Type of Govt Assisted Transaction: Purchase/ Assumption
Agreement Date6/18/2010
Announcement Date6/18/2010
Date Placed in Conservatorship6/18/2010
Estimated Cost to Reg Agency ($000)74,801
Cost to Reg Agency/ Deposits (%)15.59
Cost to Reg Agency/ Assets (%)15.05
Assets Sold/ Assets (%)100.00
Deal Summary
Portland, Ore.-based Umpqua Holdings Corporation unit Roseburg, Ore.-based Umpqua Bank has agreed to assume certain deposits and to purchase all the assets of Reno, Nev.-based Nevada Security Bank. Nevada Security Bank had total core deposits of approximately $430.54 million as of March 31, 2010. Nevada Security Bank is the 83rd FDIC-insured institution to fail in the nation this year, and the third in Nevada.
Deal Terms
Description of Consideration
Umpqua Holdings Corporation did not pay any premium to FDIC to assume certain deposits of Nevada Security Bank. Umpqua Holdings Corporation also purchased all the assets of the failed bank at a certain discount.
Assets Sold in Resolution ($000)497,000
Deposits Transferred ($000)440,000
Deposits Liquidated ($000)39,759
Premium Paid ($000)0
Deal Financials
Total Assets at Assumption ($000)497,000
Total Deposits at Assumption ($000)479,759
Core Deposits at Assumption ($000)430,537
Deal Advisers - Financial Advisers
Party AdvisedAdviser Hired?Firm Name
BuyerNANA

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