Posts tagged: Umpqua Bank
Today's post: The No. 2 business story of the year for the Spokane North Idaho area.
Last week we posted No. 3, the widespread credit card breach connected to area grocery stores.
No. 2 is the acquisition of Spokane's largest home-based bank, Sterling Financial by Oregon-based Umpqua Bank. Our earlier story on the acquisition ran on Sept. 11, 2013.
Tomorrow, Dec. 31, we list the No. 1 business story for 2013. Because of our pick-the-top-story contest, the final story will determine who wins the SR OfficeHours $10 coffee card.
The day after Sterling Financial announced it's being taken over by Portland-based Umpqua Bank, here's one graphic that raises questions about who knew about the merger early-on.
The story of the announcement ran in the Sept. 12 Spokesman Review and online.
The graphic here shows a 30-day chart of the public share prices of Sterling vs. Umpqua vs. a regional community bank, PacWest Bank. All trade on the Nasdaq. Sterling is green, Umpqua is blue.
Sterling's stock shows the most impressive jump, and that has led some lurkers and outsiders to wonder who got advance word of the deal. The Great Stock Price Leap occurs from Aug. 21 through Aug. 24.