SPOKANE, Wash. – Portland-based Umpqua Bank is merging with Spokane-based Sterling Bank in a $2 billion deal.
According to a joint statement, the merger will create the largest community bank on the West Coast.
Under the agreement, all Sterling banks will operate under the Umpqua Bank brand.
The combined banks will have about $22 billion in assets, $15 billion in loans, and $16 billion in deposits, with 394 locations across Washington, Oregon, Idaho, California, and Nevada.
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