Umpqua Bank acquires Sterling Bank for $2B

| Print |  Email
Must Reads
Thursday, September 12, 2013

Portland-based Umpqua Holdings is buying Spokane-based Sterling Financial in a $2 billion deal.

Once the takeover is complete, the combined company will operate under the Umpqua Bank name and brand, the companies said. Umpqua chief executive Ray Davis will serve as president and CEO. Sterling chief executive Greg Seibly will join Umpqua Bank as co-president, along with Umpqua Bank co-president Cort O'Haver.

The acquisition will nearly double Umpqua's size and reach. Combined, the banks have $22 billion in assets, $15 billion in loans and $16 billion in deposits. They have 5,000 employees and 394 branches across Oregon, Washington, Idaho, California and Nevada.

Read more at OregonLive.com.

 

More Articles

Apartment Mania

Guest Blog
Thursday, June 18, 2015
4805983977 11466ce1d6 zBY BRAD HOULE | CFA

While most categories of commercial real estate have performed well, one of the most robust has been apartment buildings.


Read more...

The 5 highest revenue-generating parks in Oregon

The Latest
Thursday, June 11, 2015
parksthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

In 2014, total revenue for camping and day use in Oregon State Parks was a little more than $17 million. That figure may even higher this year "because we've had exceptionally nice weather," Hughes says.


Read more...

Nine lives

Linda Baker
Friday, May 22, 2015
0f4f7bfBY LINDA BAKER | EDITOR

Roy Kaufmann always lands on his feet.


Read more...

Change at the pump?

The Latest
Tuesday, May 26, 2015
001thumbBY JASON E. KAPLAN | STAFF PHOTOGRAPHER

New Jersey and Oregon are the only two states in the U.S. that ban self serve gas stations. But these two holdouts may be ready to give up the game. New Jersey is considering legislation that would lift the state's ban on pumping your own gas. Oregon is considering smaller scale changes.


Read more...

Up in the Air

June 2015
Friday, May 22, 2015
BY ANNIE ELLISON

Portland tech veteran Ben Berry is leaving his post as Portland’s chief technology officer for a full-time role producing unmanned aerial vehicles (UAVs) aimed at first responders and the military. Berry’s AirShip Technologies Group is poised to be on the ground floor of an industry that will supply drones to as many as 100,000 police, fire and emergency agencies nationwide. He reveals the plan for takeoff.


Read more...

Department of Self-Promotion

Linda Baker
Wednesday, June 17, 2015

061715-awards1Oregon Business wins journalism awards.


Read more...

Hall of Flame

June 2015
Friday, May 22, 2015
BY JACOB PALMER

A Power Lunch at Oswego Grill.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS