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US Banker, April, 2006
1. Oregon-based Umpqua Bank agreed to buy Western Sierra Bancorp for $355 million in stock. The move gives Umpqua a greater presence in northern California, furthering its goal to build its brand from Sacramento to Seattle. WSB will operate under the Umpqua name.
2. In a Midwest expansion plan, Ohio-based Sky Financial Group plans to buy Union Federal Bank of Indianapolis, the fourth- largest bank in that city, for $330 million. Union's parent company, Waterfield Mortgage, will sell its mortgage-banking business in a separate transaction.
3. Paramus, NJ-based Hudson City Bancorp will expand into the New York City's affluent northern suburbs with a $265 million acquisition of Sound Federal Bancorp. Following the deal, Hudson City says it will have branches in seven...
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