Contact Us

Companies to Form New Bank with Branches in Idaho

PORTLAND, Ore. (AP) — Umpqua Holdings Corp. says it is buying fellow regional bank Sterling Financial Corp. in a $2 billion cash-and-stock deal. The two said Wednesday they will combine under the Umpqua name to form a bank with about $22 billion in assets and branches in Oregon, Washington, Idaho, California and Nevada.

Umpqua is based in Portland, Ore., while Sterling has its headquarters in Spokane, Wash. Under the terms of the deal, Sterling shareholders will get 1.671 shares of Umpqua common stock and $2.18 cash for each share of Sterling common stock.

The deal is expected to close in the first half of next year. Umpqua CEO Ray Davis will remain at the helm of the combined bank, while Sterling CEO Greg Seibly will become a co-president.

More From News Radio 1310 KLIX

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://newsradio1310.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on News Radio 1310 KLIX quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Register on News Radio 1310 KLIX quickly by logging in with your Facebook account. It's just as secure, and no password to remember!