Umpqua Holdings Announces Approval Of New Share Repurchase Plan
PORTLAND, Ore., July 21, 2021 /PRNewswire/ -- Umpqua Holdings Corporation (NASDAQ: UMPQ) (the "Company") today announced that its Board of Directors has approved a new share repurchase program (the "Program") which authorizes the Company to repurchase up to $400 million of common stock over the next twelve months. The Program replaces and supersedes the previously approved share repurchase program which was scheduled to expire on July 31, 2021.
Under the new stock repurchase program, the Company may repurchase shares of common stock from time to time in open market transactions, accelerated share repurchases, or in privately negotiated transactions as permitted under applicable rules and regulations. Repurchases may be conducted and may be suspended or terminated at any time without notice. The extent to which the Company repurchases its shares of common stock and the timing of such purchases will depend upon market conditions, the Company's and Umpqua Bank's capital position, and other considerations as may be considered in the Company's sole discretion. The Company and Umpqua Bank have received all necessary bank holding company and bank regulatory approvals for the Program. Repurchases may also be made pursuant to a trading plan under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions.
About Umpqua Holdings Corporation
View original content to download multimedia:https://www.prnewswire.com/news-releases/umpqua-holdings-announces-approval-of-new-share-repurchase-plan-301338832.html
SOURCE Umpqua Holdings Corporation
Company Codes: NASDAQ-NMS:UMPQ
© 2021 PR Newswire. All Rights Reserved.