-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OdjIrp8Kp6JTHaO843TpJt/gcsFOImmEFrwT1OI6op8h1/E21aNN0blBPiJ7xRrC
 hiPs+7/3rHUsIN8RFYNipw==

<SEC-DOCUMENT>0001077771-03-000018.txt : 20031002
<SEC-HEADER>0001077771-03-000018.hdr.sgml : 20031002
<ACCEPTANCE-DATETIME>20031002175914
ACCESSION NUMBER:		0001077771-03-000018
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030930
FILED AS OF DATE:		20031002

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PHILPOTT STEVEN L
		CENTRAL INDEX KEY:			0001238682

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25597
		FILM NUMBER:		03925374

	MAIL ADDRESS:	
		STREET 1:		C/O UMPQUA HOLDINGS CORP
		STREET 2:		200 SW MARKET STREET STE 1900
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97201

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			UMPQUA HOLDINGS CORP
		CENTRAL INDEX KEY:			0001077771
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				931261319
		STATE OF INCORPORATION:			OR
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		200 SW MARKET STREET
		STREET 2:		SUITE 1900
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97201
		BUSINESS PHONE:		503-546-2495

	MAIL ADDRESS:	
		STREET 1:		UMPQUA HOLDINGS CORP
		STREET 2:		200 SW MARKET STREET SUITE 1900
		CITY:			PORTLAND
		STATE:			OR
		ZIP:			97201
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>phi99.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
	<periodOfReport>2003-09-30</periodOfReport>
	<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001077771</issuerCik>
        <issuerName>UMPQUA HOLDINGS CORP</issuerName>
        <issuerTradingSymbol>UMPQ</issuerTradingSymbol>
	</issuer>
	<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001238682</rptOwnerCik>
            <rptOwnerName>PHILPOTT STEVEN L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>200 SW MARKET STREET, SUITE 1900</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PORTLAND</rptOwnerCity>
            <rptOwnerState>OR</rptOwnerState>
            <rptOwnerZipCode>97201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
			<isDirector>0</isDirector>
			<isOfficer>1</isOfficer>
			<isTenPercentOwner>0</isTenPercentOwner>
			<isOther>0</isOther>
			<officerTitle>EVP/General Counsel</officerTitle>
		</reportingOwnerRelationship>
	</reportingOwner>
	<nonDerivativeTable>
		<nonDerivativeTransaction>
			<securityTitle>
				<value>Class A Common Stock</value>
			</securityTitle>
			<transactionDate>
				<value>2003-09-30</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>A</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>500</value>
					<footnoteId id="F1"/>
				</transactionShares>
				<transactionPricePerShare>
					<value>0</value>
				</transactionPricePerShare>
				<transactionAcquiredDisposedCode>
					<value>A</value>
				</transactionAcquiredDisposedCode>
			</transactionAmounts>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>6065.00</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</nonDerivativeTransaction>
		<nonDerivativeHolding>
			<securityTitle>
				<value>Class A Common Stock</value>
			</securityTitle>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>685.00</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>I</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value>By 401(k)</value>
				</natureOfOwnership>
			</ownershipNature>
		</nonDerivativeHolding>
		<nonDerivativeHolding>
			<securityTitle>
				<value>Class A Common Stock</value>
			</securityTitle>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>439.00</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>I</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value>By Spouse</value>
				</natureOfOwnership>
			</ownershipNature>
		</nonDerivativeHolding>
		<nonDerivativeHolding>
			<securityTitle>
				<value>Class A Common Stock</value>
			</securityTitle>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>178.00</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>I</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value>By Spouse IRA</value>
				</natureOfOwnership>
			</ownershipNature>
		</nonDerivativeHolding>
		<nonDerivativeHolding>
			<securityTitle>
				<value>Class A Common Stock</value>
			</securityTitle>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>3147.00</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>I</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value>By Steven L. Philpott, P.C. (100%)</value>
				</natureOfOwnership>
			</ownershipNature>
		</nonDerivativeHolding>
	</nonDerivativeTable>
	<derivativeTable>
		<derivativeHolding>
			<securityTitle>
				<value>Stock Option (Right to Buy) - Granted 08/20/1996</value>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>5.69</value>
			</conversionOrExercisePrice>
			<exerciseDate>
				<value>1997-08-20</value>
				<footnoteId id="F2"/>
			</exerciseDate>
			<expirationDate>
				<value>2006-08-20</value>
			</expirationDate>
			<underlyingSecurity>
				<underlyingSecurityTitle>
					<value>Class A Common Stock</value>
				</underlyingSecurityTitle>
				<underlyingSecurityShares>
					<value>10707.00</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>10707.00</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</derivativeHolding>
		<derivativeHolding>
			<securityTitle>
				<value>Stock Option (Right to Buy) - Granted 12/19/2001</value>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>13.23</value>
			</conversionOrExercisePrice>
			<exerciseDate>
				<value>2001-12-19</value>
				<footnoteId id="F3"/>
			</exerciseDate>
			<expirationDate>
				<value>2011-12-19</value>
			</expirationDate>
			<underlyingSecurity>
				<underlyingSecurityTitle>
					<value>Class A Common Stock</value>
				</underlyingSecurityTitle>
				<underlyingSecurityShares>
					<value>1498.00</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>1498.00</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</derivativeHolding>
		<derivativeHolding>
			<securityTitle>
				<value>Stock Option (Right to Buy) - Granted 12/20/2000</value>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>12.36</value>
			</conversionOrExercisePrice>
			<exerciseDate>
				<value>2000-12-20</value>
				<footnoteId id="F3"/>
			</exerciseDate>
			<expirationDate>
				<value>2010-12-20</value>
			</expirationDate>
			<underlyingSecurity>
				<underlyingSecurityTitle>
					<value>Class A Common Stock</value>
				</underlyingSecurityTitle>
				<underlyingSecurityShares>
					<value>1619.00</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>1619.00</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</derivativeHolding>
		<derivativeHolding>
			<securityTitle>
				<value>Stock Option (Right to Buy) - Granted 12/21/1999</value>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>13.70</value>
			</conversionOrExercisePrice>
			<exerciseDate>
				<value>1999-12-21</value>
				<footnoteId id="F3"/>
			</exerciseDate>
			<expirationDate>
				<value>2009-12-21</value>
			</expirationDate>
			<underlyingSecurity>
				<underlyingSecurityTitle>
					<value>Class A Common Stock</value>
				</underlyingSecurityTitle>
				<underlyingSecurityShares>
					<value>1497.00</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>1497.00</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</derivativeHolding>
	</derivativeTable>
	<footnotes>
		<footnote id="F1">Restricted stock grant pursuant to 2003 Stock Incentive Plan.</footnote>
		<footnote id="F2">All options are fully vested.</footnote>
		<footnote id="F3">Beginning on the first day of the grant, the options vest 20% immediately and then 20% per year for the next four years.</footnote>
	</footnotes>
	<remarks>
	</remarks>
	<ownerSignature>
		<signatureName>/s/ Philpott, Steven L.</signatureName>
		<signatureDate>2003-10-02</signatureDate>
	</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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