Merger final between Sterling Bank and Umpqua Bank

Umpqua Holdings and Sterling Financial completed their merger on April 18, 2014, making them the largest community bank on the west coast.

Shoreline Bank branch became Sterling Bank
now will become Umpqua Bank

Sterling Bank moved into Shoreline May of 2012, taking over the branch of the failed Shoreline Bank at 20011 Ballinger Way NE, and immediately giving money to three local charities, voted upon by the community. (See previous article.) The location will now be an Umpqua Bank.

"Today, we took a significant step forward in achieving Umpqua's goal of building a community bank at any size, one that offers the products and expertise of a large bank, the engagement of a community bank, and the innovative customer experience of a leading retailer," said Ray Davis, president and CEO of Umpqua Bank.

Customers of both Umpqua and Sterling can use any of the company's ATMs to make cash withdrawals without incurring fees. Sterling customers can also continue to bank as usual by phone, ATM and online. In addition, customers of both banks will be able to conduct most basic transactions at any Umpqua or Sterling location. 

As part of the merger agreement, Umpqua has established the Umpqua Bank Charitable Foundation to advance the company's commitment to the communities it serves. The Foundation, which will be funded with a $10 million investment, will expand the company's philanthropic efforts. All Umpqua associates will continue to receive paid time off to volunteer and contribute to their communities through Umpqua's Connect Volunteer Network®, which provides every associate with up to 40 hours each year to volunteer.