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Deal Overview

Umpqua Holdings Corp.
Actual Acquirer:
Umpqua Holdings Corp.
VRB Bancorp
Deal Type:
Bank & Thrift Company
Agreement Date:
Announcement Date:
Announced Deal Value ($ M):
Completion Date:
Announced Deal Value Per Share ($ )

Consideration Breakout
Common Stock ($M) 52.1
Common Stock Issued 6,768,000

Deal Pricing Ratios

Announcement Completion
Price / Book (%) NM NM
Price / Tangible Book (%) NM NM
Price / Earnings (x) NM NM
Price / Deposits (%) NM NM
Price / Assets (%) NM NM
Tangible Book Premium/ Deposits (%) NM NM
Deal Terms
Description of Consideration

Umpqua exchanged 0.8135 share for each share of VRB held.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? Yes
Geographic Expansion? Market Expansion
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) 2,000
Maximum Termination Fee ($ 000) 3,000
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 0.813500
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement Yes
Strike Price ($ ) 5.0700
% of Shares Outstanding 19.90
Shares Under Option 1,653,450
Core Deposit Intangibles ($ 000) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Ragen MacKenzie Group Inc.
Seller Yes D.A. Davidson & Co.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Foster Pepper PLLC
Seller Yes Davis Wright Tremaine LLP