UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): April 1, 2014
Umpqua Holdings Corporation
(Exact Name of Registrant as Specified in Its Charter)
Oregon |
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001-34624 |
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93-1261319 |
(State or Other Jurisdiction of Incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
One SW Columbia, Suite 1200
Portland, Oregon 97258
(Address of Principal Executive Offices) (Zip Code)
Registrants Telephone Number, Including Area Code: (503) 727-4100
Not Applicable
Former Name or Former Address, if Changed Since Last Report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On April 1, 2014, Umpqua Holdings Corporation (Umpqua) and Sterling Financial Corporation (Sterling) issued a joint press release announcing that all regulatory approvals necessary to complete the previously announced merger between Umpqua and Sterling (the Merger) pursuant to the Agreement and Plan of Merger by and between Sterling and Umpqua, dated as of September 11, 2013, have been received.
Assuming the satisfaction of customary closing conditions to the Merger, Umpqua and Sterling expect to complete the Merger on or about April 18, 2014. A copy of the joint press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Exhibits.
Exhibit |
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Description |
99.1 |
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Joint Press Release of Umpqua Holdings Corporation and Sterling Financial Corporation, dated April 1, 2014 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Umpqua Holdings Corporation | |
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Date: April 1, 2014 |
By: |
/s/ Steven L. Philpott |
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Name: |
Steven L. Philpott |
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Title: |
Executive Vice President, |
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General Counsel and Secretary |
Exhibit 99.1
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FOR IMMEDIATE RELEASE |
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Media Contacts |
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Eve Callahan |
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Cara Coon |
SVP, Corporate Communications |
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VP, Communications and Public Affairs Director |
503.727.4188 |
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509.626.5348 |
evecallahan@umpquabank.com |
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cara.coon@bankwithsterling.com |
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Investor Contacts |
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Ron Farnsworth |
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Patrick J. Rusnak |
EVP/Chief Financial Officer |
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EVP/Chief Financial Officer |
503.727.4108 |
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509.227.0961 |
ronfarnsworth@umpquabank.com |
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pat.rusnak@bankwithsterling.com |
UMPQUA HOLDINGS CORPORATION AND STERLING FINANCIAL
CORPORATION RECEIVE REGULATORY APPROVALS FOR
PROPOSED MERGER
[Portland, Ore. and Spokane, Wash.] APRIL 1, 2014 Umpqua Holdings Corporation (NASDAQ: UMPQ) and Sterling Financial Corporation (NASDAQ: STSA) today announced that all regulatory approvals for their proposed merger, announced on September 11, 2013, have been received. This follows the approvals by Umpqua and Sterling shareholders, which were previously announced on February 26, 2014.
Subject to the satisfaction of customary closing conditions, the merger is expected to be completed as of the close of business on Friday, April 18, 2014. The combined companies will operate as Umpqua Holdings Corporation, with banking operations conducted under the Umpqua Bank brand.
About Umpqua Holdings Corporation
Umpqua Holdings Corporation (NASDAQ: UMPQ) is the parent company of Umpqua Bank, an Oregon-based community bank recognized for its entrepreneurial approach, innovative use of technology, and distinctive banking solutions. Umpqua Bank has locations between San Francisco, California, and Seattle, Washington, along the Oregon and Northern California Coast, Central Oregon and Northern Nevada. Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments, Inc., which has locations in Umpqua Bank stores and in dedicated offices in Oregon. Umpqua Private Bank serves high net worth individuals and non-profits, providing trust and investment services. Umpqua Holdings Corporation is headquartered in Portland, Oregon. For more information, visit www.umpquaholdingscorp.com.
About Sterling Financial Corporation
Sterling Financial Corporation (NASDAQ:STSA) of Spokane, Washington, is the bank holding company for Sterling Savings Bank, a Washington state chartered and federally insured commercial bank. Sterling Savings Bank does business as Sterling Bank in Washington, Oregon and Idaho and as Argent Bank in California, offering banking products and services, mortgage lending, and trust and investment products to individuals, small businesses, corporations and other commercial organizations. As of December 31, 2013, Sterling Financial Corporation had assets of $10.31 billion and operated depository branches in Washington, Oregon, Idaho and California. Visit Sterling Financial Corporations website at www.sterlingfinancialcorporation.com.
Cautionary Statement Regarding Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as anticipate, may, can, believe, expect, project, intend, likely, plan, seek, should, would, estimate and similar expressions and any other statements that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are subject to numerous risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond Sterlings and Umpquas control. These risks and uncertainties include, but are not limited to, the following: the timing to consummate the proposed merger; and the risk that a condition to closing of the proposed merger may not be satisfied. Sterling and Umpqua undertake no obligation (and expressly disclaim any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information concerning factors that could cause actual conditions, events or results to materially differ from those described in the forward-looking statements, please refer to the factors set forth under the headings Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations in Umpquas and Sterlings most recent annual and quarterly reports on Forms 10-K and 10-Q and to Sterlings and Umpquas most recent current reports on Form 8-K, which are available online at www.sec.gov. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Umpqua or Sterling.
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