Sterling Bank merges with Umpqua, changes name
In mid-April, the largest bank acquisition in Oregon history took place.
Umpqua Bank, headquartered in Portland, and Spokane’s Sterling Bank, are now merged.
It nearly doubles the size of Umpqua with $22 billion in assets. It also means the Umpqua name will stretch across 400 locations in five states, including Montesano, where the former Sterling Branch has changed it’s name to Umpqua Bank.
Umpqua CEO Ray Davis will continue to guide the company.
Sterling Bank locations throughout Washington now sport new Umpqua signage and remodels to reflect the Umpqua store model.
Since 1994, Umpqua has merged 30 banks into its system.