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Umpqua Announces Early Termination of Loss Share AgreementsMonday, November 13, 2017
Congratulations to Umpqua Bank (Umpqua) of Roseburg, Oregon for successfully terminating their FDIC loss share agreements on their three failed bank receiverships: Nevada Security Bank, Rainier Pacific Bank, and Evergreen Bank.
As of November 14, 2017 Umpqua will now recognize entirely all future gains, recoveries, charge-offs, losses and expenses related to the formerly covered assets with no offset to the FDIC.
DD&F served as an advisor to Umpqua Bank in successfully terminating their shared loss agreements with the FDIC and would like to congratulate all of the Umpqua team. We wish you continued success!
DD&F has completed 80 buyouts so far, or 40% of all the deals completed and have saved our clients over $170MM in true-up savings.
Additionally, we have recently completed buyouts for Harbor Community Bank, Fort Pierce, FL (on 10/11/17), MidWestOne Bank, Iowa City, IA (on 7/14/17), BBVA Compass, Birmingham, AL (on 4/12/17), Great Southern Bank, Springfield, MO (on 6/9/17), BankSouth, Greensboro, GA (on 4/12/17), First-Citizens Bank & Trust Company, Raleigh, NC (on 3/29/17), Southern Bank & Trust, Inc., Mt. Olive, NC (on 3/7/17), Oriental Bank, San Juan, PR (on 2/7/17), Mutual of Omaha Bank, Omaha, NE (on 1/30/17), Huntington Bancshares/FirstMerit Bank, Akron, OH (on 1/25/17) and IBERIABANK, Lafayette, LA (on 12/21/16).
We would be happy to sit down and talk with you or your team at our expense about how we can help you get out of loss share. Even better, at no cost to you, we can evaluate your true-up and give you an estimate of how much in savings we can find.Back to News and Events