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Stock Market & Financial Investment News

News Breaks
April 1, 2014
13:16 EDTSTSA, UMPQUmpqua, Sterling Financial receive regulatory approval for proposed merger
Umpqua Holdings (UMPQ) and Sterling Financial (STSA) announced that all regulatory approvals for their proposed merger, announced on September 11, 2013, have been received. This follows the approvals by Umpqua and Sterling shareholders, which were previously announced on February 26. Subject to the satisfaction of customary closing conditions, the merger is expected to be completed as of the close of business on April 18. The combined companies will operate as Umpqua Holdings Corporation, with banking operations conducted under the Umpqua Bank brand.
News For UMPQ;STSA From The Last 14 Days
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April 22, 2015
11:00 EDTUMPQUmpqua Bank promotes David Shotwell to Chief Credit Officer
Umpqua Bank, a subsidiary of Umpqua Holdings, announced that David Shotwell will step in as the company’s Chief Credit Officer following the retirement of Mark Wardlow, effective July 1, 2015. Wardlow has been with Umpqua Bank for 11 years, serving as Executive Vice President and Chief Credit Officer since 2009.
April 15, 2015
16:21 EDTUMPQUmpqua Holdings reports Q1 EPS 21c, consensus 28c
Reports operating EPS 26c. Reports book value per share $8.88. Reports provision for loan and lease losses $13.7M. Charge-offs, net of recoveries, were $9.8M. Reports Basel III estimated total risk-based capital ratio 14.3% and estimated Tier 1 common to risk weighted assets ratio of 10.8%.
April 14, 2015
06:33 EDTSTSAPacWest Bancorp appoints Patrick Rusnak as CFO
PacWest Bancorp announced that Victor R. Santoro intends to retire from his position as CFO of the Company effective in mid-August subsequent to the Company's filing of its Form 10-Q for the Q2. Following his retirement as CFO, Santoro will continue to work with the Company as Vice Chairman – Corporate Development and assist with the transition of his CFO responsibilities. Santoro will be succeeded by Patrick J. Rusnak, who is expected to assume the roles of Executive Vice President and CFO upon Santoro's retirement as CFO of the Company in mid-August. Rusnak will join the Company on April 27as Executive Vice President and CFO of Pacific Western Bank. He most recently served as CFO for Sterling Financial.

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