Umpqua Holdings Corp Completes Acquisition Of Circle Bancorp

Umpqua Holdings Corp announced the completion of the acquisition of California-based Circle Bancorp, parent company of Circle Bank. The final agreement provides for cash consideration to the common shareholders of $20.4 million, or $17.75 per share. Including the planned cash redemption of $3.5 million in preferred stock and the value of outstanding options and warrants, the total aggregate deal value is approximately $24.9 million. Effective today, all Circle Bank branches are operating under the Umpqua Bank name.