Umpqua Bank expands into fourth Western state
Umpqua Holdings Corp. announced June 18 that its subsidiary, Umpqua Bank, had acquired the banking operations of Nevada Security Bank, based in Reno, Nev., and its California division, Silverado Bank, in a purchase and assumption agreement with the Federal Deposit Insurance Corp.
This is the third FDIC-assisted transaction for Umpqua Bank this year and the fourth since 2009. The transaction expands the bank's footprint from three to four Western states: Oregon, Washington, California and now Nevada, with three new locations in Reno and one in Lake Tahoe's Incline Village.
The transaction will increase Umpqua's assets to approximately $11 billion and deposits to approximately $8.6 billion, based on Umpqua's balances as of March 31, according to a company release.
LCCU awards local student scholarships
Lacamas Community Credit Union earlier this month announced the recipients of three $1,500 Joseph J. Boyle Memorial Scholarships.
LCCU's President/CEO Kathleen Romane presented the scholarship awards during a ceremony at the credit union's Terrace Branch in Camas on June 14. The three recipients are:
Sarah Hager, a graduate of Camas High School, who plans to attend the University of Washington; Shannon Lavaran, a graduate of Mountain View High School in Vancouver, planning to attend Rice University in Houston; and Carly Wright, a graduate of Stevenson High School, also planning to attend the University of Washington.
"Lacamas Community Credit Union is proud to count these exemplary students among its members," Romane said.
Analysis shows surging teen unemployment
An analysis of U.S. Bureau of Labor Statistics data by the nonprofit Employment Policy Institute estimates that the average unemployment rate for teens in Washington state was 32.7 percent as of April 2010 – the seventh highest in the country.
Economists at EPI pointed to the worst economic downturn since the Great Depression, as well as increases in state and federal minimum wages, as partly to blame for the jobless spike.
"More than one in four teens in Washington is looking for work without success and it's not just because of the recession," said Michael Saltsman, research fellow at the EPI. "This summer, minimum wage mandates are keeping teens from finding a job."
‘Gorge Days' in North Bonneville
The 6th Annual Gorge Days and "Best Cruise-In by a Dam Site" is taking place in North Bonneville, Friday through Sunday, July 9-11. Just 45 minutes east of Vancouver off of Hwy. 14, the event is held in the heart of the Columbia River Gorge.
All events take place at or around North Bonneville City Park and the celebration is sponsored by the North Bonneville Business and Community Association.
The weekend kicks off on Friday morning with citywide garage sales that continue all day Saturday. On Friday evening there will be a barbecue dinner in the City Hall parking lot followed by a sock hop street dance. Dinner begins at 5:00 p.m.
For more information and a full schedule of activities, visit www.gorgedays.com or call 800.989.9178
