Sterling, Umpqua banks receive approval on merger

By The (Everett) Daily Herald Staff

Umpqua Bank and Sterling Financial Corp. announced Tuesday, April 1, that they received the regulatory OK for their planned merger.

The combined company will operate under the Umpqua Bank name and will have $22 billion in assets and nearly 400 locations across five states. It will be the largest community bank on the West Coast.

The merger was first announced Sept. 11. It is expected to be finalized April 18.

Umpqua is based in Portland, Ore., while Sterling Financial is based in Spokane.

Sterling operates loan offices in Bellingham, as well as branches in Lynden, Blaine and Point Roberts. Umpqua has no current locations in Whatcom County.

 

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