North Bay Bancorp (NASDAQ:NBAN)
Historical Stock Chart
From Oct 2019 to Oct 2024
Umpqua Holdings Corporation (NASDAQ:UMPQ), parent company of Umpqua Bank
and Strand, Atkinson, Williams & York, Inc., announced today the
completion of its acquisition of California-based North Bay Bancorp
(NASDAQ:NBAN) by merger on April 26, 2007. North Bay shareholders will
receive 1.228 shares of Umpqua common stock for each share of North Bay
common stock, giving the transaction a total value of approximately $143
million.
Beginning today, all North Bay Bancorp branches, including those of The
Vintage Bank and its Solano Bank division, will operate under the Umpqua
Bank name. The merger adds the former North Bay Bancorp’s
10 Northern California branches to Umpqua Bank’s
network of 134 Northern California, Oregon and Washington locations, for
a total of 144 stores and 161 ATMs. North Bay associates have already
been enrolled in Umpqua Bank’s internal
training and culture orientation programs, and as of May 7, 2007, will
offer Umpqua products and services in their stores. Umpqua Bank offers a
complete portfolio of commercial, small business and retail banking
services throughout Northern California, Oregon and Washington.
“Umpqua Bank and North Bay Bancorp bring a
shared commitment to community banking and focus on customer service,”
said Ray Davis, Umpqua Holdings Corporation CEO. “The
expanded Umpqua Bank offers the best of both companies, providing
customers, employees and shareholders with a larger bank network and
increased opportunities – and the same
unwavering commitment to the communities we serve.”
Ray Davis will continue to lead the combined organizations as president
and CEO of Umpqua Holdings Corporation. Bill Fike, president of Umpqua
Bank California, will continue to oversee Umpqua’s
California operations. Glen Terry, previously president of The Vintage
Bank and its Solano Bank division, will stay on as Senior Vice President
and Commercial Banking Center Manager for the greater Napa, Solano
County area.
Approximately 5.2 million shares of Umpqua Holdings Corporation common
stock will be issued in connection with the merger. The combined
organization has assets of approximately $8.1 billion, deposits of
approximately $6.1 billion and shareholder’s
equity of approximately $1.3 billion.
Map of store locations available
About Umpqua Holdings Corporation
Umpqua Holdings Corporation (NASDAQ: UMPQ) is the parent company of
Umpqua Bank, an Oregon-based community bank recognized for its
entrepreneurial approach, innovative use of technology, and distinctive
banking solutions. Umpqua Bank has 134 locations stretching from the
greater Sacramento, Calif. area and San Joaquin Valley to Seattle, as
well as along the Oregon and Northern California Coast and in Central
Oregon. Umpqua Holdings also owns retail brokerage subsidiary Strand,
Atkinson, Williams & York Inc., which has locations in Umpqua Bank
stores and in dedicated offices throughout Oregon and Southwest
Washington. Umpqua Bank’s Private Client
Services Division provides tailored financial services and products to
individual customers. Umpqua Holdings Corporation is headquartered in
Portland, Ore. For more information, visit www.umpquaholdingscorp.com.