Davis Polk is advising Sterling Financial Corporation in connection with its $2 billion merger with Umpqua Holdings Corporation. The transaction, which is subject to approval by each company’s shareholders, regulatory approvals and other customary closing conditions, is expected to close during the first half of 2014.
Sterling Financial of Spokane, Washington, is the bank holding company for Sterling Savings Bank, a Washington state-chartered and federally insured commercial bank. Umpqua Holdings is the parent company of Umpqua Bank, an Oregon-based community bank.
The Davis Polk team includes partner William L. Taylor, counsel Ajay B. Lele and associates Boyoon Choi, Cheryl Chan and Kristen L. Haase. Partner Margaret E. Tahyar and associate Alexander Young-Anglim are providing financial institutions advice. Partner Jeffrey P. Crandall and associate Andrew Blau are providing executive compensation advice. Partner Kathleen L. Ferrell is providing tax advice. All members of the Davis Polk team are based in the New York office.
