Key Developments For Umpqua Holdings Corporation
Umpqua Holdings Corporation (UMPQ.O) (Nasdaq)
Umpqua Holdings Corp. And Ferguson Wellman Forge Strategic Alliance
Umpqua Holdings Corp. announced that its subsidiary, Umpqua Bank, and Ferguson Wellman Capital Management, a privately owned Pacific Northwest investment advisory firm, have formed a strategic alliance to provide personalized investment strategies and services for individuals, families and nonprofits. Umpqua Bank and Ferguson Wellman will remain independent, but will work in exclusive partnership with one another to offer customers an expanded portfolio of wealth management products and services that combines private banking and asset management.
Umpqua Holdings Corp.'s Subsidiary Announces Formation Of Private Bank
Umpqua Bank, a subsidiary of Umpqua Holdings Corp. announced the formation of its private bank in August. The private bank is designed to augment Umpqua`s existing high touch customer experience, and will work collaboratively with the bank`s affiliate retail brokerage, Umpqua Investments, to offer a comprehensive, integrated approach that meets clients` financial goals.
Umpqua Holdings Corp. Announces Cash Dividend
Umpqua Holdings Corp. announced that its Board of Directors approved a quarterly cash dividend of $0.05 per common share. The dividend is payable on October 15, 2009 to shareholders of record as of September 30, 2009.
Umpqua Holdings Corp. Announces Closing Of $258.7 Million Underwritten Public Offering Of Common Stock
Umpqua Holdings Corp. announced that it has raised $258.7 million through its previously announced underwritten public offering by issuing 26,538,461 shares of the Company's common stock, including 3,461,538 shares pursuant to the underwriters' over-allotment option, at a price of $9.75 per share. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $245.6 million. The net proceeds from the offering will qualify as tangible common equity and Tier 1 capital and will be used for general corporate purposes, which may include capital to support growth and acquisition opportunities and to position the Company for eventual redemption of preferred stock issued to the U.S. Treasury under the Capital Purchase Program. J.P. Morgan Securities Inc. acted as the sole book-running manager. D.A. Davidson & Co., Fox-Pitt Kelton Cochran Caronia Waller and Keefe, Bruyette & Woods, Inc. were co-managers.
Umpqua Holdings Corp.'s Umpqua Bank Launches Oregon Corporate Banking Division
Umpqua Bank, a subsidiary of Umpqua Holdings Corp., has launched an Oregon corporate banking division to expand its commercial and industrial loan portfolio. Umpqua`s corporate banking division is dedicated to serving manufacturers, distributors and other core businesses.
