umpqua notes

EvergreenBank is now part of Umpqua

I wanted to share some recent news with you regarding Umpqua and EvergreenBank.

On Friday, Jan. 22, the Federal Deposit Insurance Corporation (FDIC) closed Seattle-based EvergreenBank and Umpqua assumed the bank's operations. As one of the region's strongest community banks with locations in the Puget Sound area, Umpqua is well-positioned to acquire the organization and stand behind the loans and deposits of EvergreenBank customers.

Over the next several weeks, we will be transitioning EvergreenBank branches into Umpqua Bank stores. All Umpqua customers and former EvergreenBank customers now have access to 162 stores from Lynnwood, Wash. to San Francisco. Each of these neighborhood locations will remain focused on our service-first philosophy and community engagement.

Please join us in welcoming former EvergreenBank customers to Umpqua. If you have additional questions, please read the FAQs below or call us at 1-866-486-7782.

Ray Davis
President and CEO
Umpqua Bank

Who is EvergreenBank?
EvergreenBank was a small, community focused bank with seven locations in the Puget Sound area of Washington State. EvergreenBank had a long history of active community participation and Umpqua Bank looks forward to continuing this tradition.

What does this mean for me?
You now have access to 162 Umpqua Bank stores, including seven new locations in the Puget Sound area.

Does this put my deposits at Umpqua at risk?
No. Your deposits are secure and you will not be impacted by Umpqua Bank's assumption of EvergreenBank.

Why is EvergreenBank in receivership?
The State of Washington and the FDIC determined that the EvergreenBank was no longer in a position to maintain banking operations. Through its normal procedures, the FDIC offered deposits and assets of the bank through a bidding process to qualified, financially sound banks. Umpqua Bank was well-positioned to acquire EvergreenBank's deposits and loans and was selected by the FDIC to do so.

Will EvergreenBank become Umpqua Bank?
Yes. All EvergreenBank locations reopened as Umpqua Bank stores on Jan. 25. Customers of EvergreenBank automatically become customers of Umpqua Bank.

Will EvergreenBank retain its name?
No. All EvergreenBank locations will adopt the Umpqua Bank name and logo.

If this could happen to EvergreenBank, how do I know it won't happen to Umpqua Bank?
Your deposits and loans at Umpqua Bank are safe, sound and readily available. Umpqua Bank is a strong, well positioned, financially sound bank with a proven track record of stability. At Umpqua, all deposits and self‐directed retirement accounts (IRAs) are insured up to $250,000. If you have questions about your deposits and how they are insured, let us know; we're here to help.

How will this affect EvergreenBank customers?
As of Jan. 22, it's business as usual. Umpqua's assumption of EvergreenBank allows EvergreenBank consumers and businesses continued access to their deposits and loans.

Is this part of Umpqua Bank's strategy?
We have had a long term vision to continue our growth and expand our unique approach to banking in the Seattle area. Assuming the former EvergreenBank is a direct investment into the financial health of the Puget Sound community, protects the funds of local residents and businesses, and allows us to continue supporting the community through increased loan availability.