Umpqua Holdings Corp. Reports Operating Results (10-K)

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Feb 17, 2011
Umpqua Holdings Corp. (UMPQ, Financial) filed Annual Report for the period ended 2010-12-31.

Umpqua Holdings Corp. has a market cap of $1.4 billion; its shares were traded at around $12.19 with a P/E ratio of 135.4 and P/S ratio of 2.4. The dividend yield of Umpqua Holdings Corp. stocks is 1.7%.Hedge Fund Gurus that owns UMPQ: Steve Mandel of Lone Pine Capital, Jim Simons of Renaissance Technologies LLC, George Soros of Soros Fund Management LLC, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns UMPQ: Chuck Royce of Royce& Associates, Jeremy Grantham of GMO LLC, Mario Gabelli of GAMCO Investors.

Highlight of Business Operations:

The aggregate market value of the voting common stock held by non-affiliates of the registrant as of June 30, 2010, based on the closing price on that date of $11.48 per share, and 113,577,225 shares held was $1,303,866,547.

Prior to 2009, the Companys footprint stretched from Seattle, Washington, to Sacramento, Calififornia, and included the Portland metropolitan and Willamette Valley areas of Oregon along the I-5 corridor, southern Oregon, the Oregon coast, Northern California, and Napa Valley. On January 16, 2009, the Washington Department of Financial Institutions closed the Bank of Clark County, Vancouver, Washington, and appointed the Federal Deposit Insurance Corporation (FDIC) as its receiver. The FDIC entered into a purchase and assumption agreement with Umpqua Bank to assume certain assets and the insured non-brokered deposit balances, representing two branches, at no premium. On January 22, 2010, the Washington Department of Financial Institutions closed EvergreenBank (Evergreen), Seattle, Washington. Umpqua Bank entered into a whole bank purchase and assumption agreement with the FDIC to assume all of the deposits of Evergreen and purchase essentially all of the assets. The FDIC and Umpqua Bank entered into a loss-share transaction on $374.8 million of Evergreens assets. Umpqua Bank will share in the losses on the asset pools covered under the loss-share agreement. Evergreens six Seattle metropolitan area branches opened as Umpqua Bank stores on January 25, 2010. On February 26, 2010, the Washington Department of Financial Institutions closed Rainier Pacific Bank (Rainier), Tacoma, Washington. Umpqua Bank entered into a whole bank purchase and assumption agreement with the FDIC to assume all of the deposits of Rainier and purchase essentially all of the assets. The FDIC and Umpqua Bank entered into a loss-share transaction on $574.6 million of Rainierss assets. Umpqua Bank will share in the losses on the asset pools covered under the loss-share agreement. Rainiers 14 Tacoma metropolitan area branches opened as Umpqua Bank stores on March 1, 2010. On June 18, 2010, the Nevada State Financial Institutions Division closed Nevada Security Bank (Nevada Security), Reno, Nevada and appointed the FDIC as receiver. Umpqua Bank entered into a whole bank purchase and assumption agreement with the FDIC to assume all of the deposits of Nevada Security and purchase essentially all of the assets. The FDIC and Umpqua Bank entered into a loss-share transaction on $364.4 million of Nevada Securitys assets. Umpqua Bank will share in the losses on the asset pools covered under the loss-share agreement. Nevada Securitys four Nevada and one Northern California area branches opened as Umpqua Bank stores on June 21, 2010.

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