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PORTLAND, Ore. (AP) - Regional banking company Umpqua Holdings Corp. said Wednesday that it is buying California's Western Sierra Bancorp for about $355 million in stock.
The acquisition will add Western Sierra's 31 branches in Northern California to Umpqua's banking network, which currently includes 95 branches in Oregon, Northern California and Washington.
Western Sierra's holdings currently operate under the names Western Sierra Bank, Central California Bank, Lake Community Bank and Auburn Community Bank. All will be rebranded as Umpqua Bank.
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