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Umpqua Holdings Corp's Umpqua Bank Announces Acquisition of Financial Pacific Holding Corp

Tuesday, 4 Jun 2013 08:00am EDT 

Umpqua Holdings Corp announced that Umpqua Holdings and Umpqua Bank have signed a definitive agreement to acquire Financial Pacific Holding Corp (FinPac) for $158 million in cash. FinPac is parent company of Financial Pacific Leasing, LLC, which provides business-essential commercial equipment leases and loans to various industries throughout the United States, and is based in Federal Way, Washington. The boards of both companies and Flexpoint Ford, LLC have approved the transaction. Completion of the acquisition is expected within 30 days. Wachtell, Lipton, Rosen and Katz served as legal advisor, and J.P. Morgan Securities LLC served as financial advisor, to the board of directors of Umpqua Holdings Corporation. Kirkland & Ellis LLP served as legal advisor to Flexpoint Ford, LLC. 

Company Quote

-0.06 -0.35%
4:00pm EDT