| 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 Date | 6/18/2010 | | Announcement Date | 6/18/2010 | | Date Placed in Conservatorship | 6/18/2010 | | 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 |
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| | | 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. |
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| | | 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 Advised | Adviser Hired? | Firm Name | | Buyer | NA | NA |
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