We're excited to announce that Sterling Bank has signed an agreement to merge with Umpqua Bank. Individually, Sterling and Umpqua are two of the West Coast's strongest community banks. Together, we will be the West Coast's largest community bank, one with regional size and strength, a sophisticated product mix - and a deep commitment to operating with the values and service of a community bank.
We'll share additional updates in the future. In the meantime, take a look at the FAQs below or read the press release.
Sterling Financial Corporation, the parent company of Sterling Bank, has signed an agreement to merge with and into Umpqua Holdings Corporation, the parent company of Umpqua Bank.
Why are Umpqua and Sterling merging?
This partnership brings together two organizations with a shared commitment to the employees, communities and shareholders we serve. Like Umpqua, Sterling is one of the nation's strongest community banks with an outstanding team that understands what it means to be a community bank - to put people first. We share a commitment to exceed the expectations of our customers and communities, work collaboratively toward common goals, and give back to the communities we serve in meaningful and significant ways.
Together, we will be the West Coast's largest community bank, able to provide our customers with something truly unique. We will offer all the products and services of a large institution but deliver them with the personal service and engagement of a community bank. In addition, as part of this merger, we will be establishing and funding a $10 million community foundation to demonstrate our ongoing commitment to our communities.
When will the merger be complete?
We anticipate that the merger of Umpqua Holdings Corporation and Sterling Financial Corporation will be complete during the first half of 2014.
How does this affect me?
You'll enjoy more locations and resources while experiencing the same level of service and community engagement you've come to know and expect from Umpqua.
Will the name be changing?
Yes. Once the merger is complete, Sterling will take on the Umpqua name and brand.