Portland-based Umpqua Holdings has agreed to buy San Luis Obispo, Calif.-based American Perspective Bank for $44.7 million.
Portland-based Umpqua Holdings has agreed to buy San Luis Obispo, Calif.-based American Perspective Bank for $44.7 million.
Umpqua, the largest Oregon-based bank, expects the acquisition to close by the middle of this year, pending regulatory and shareholder approval, and be immediately accretive to operating earnings. The combined entity will have about $11.8 billion in assets.
It’s the third announced merger involving an Oregon-based bank this month.
Read more at OregonLive.com.
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