PORTLAND, Ore. — Umpqua Holdings Corporation announced Friday that its subsidiary, Umpqua Bank, has acquired the banking operations of Nevada Security Bank of Reno and its California division, Silverado Bank, in a purchase and assumption agreement with the Federal Deposit Insurance Corporation (FDIC).

As of March 31, Nevada Security Bank had $492 million in assets and $480 million in deposits. Nevada Security Bank’s $342 million in loans are subject to a loss-sharing agreement with the FDIC. Umpqua Bank expects the acquisition to be immediately accretive to operating earnings per share. The transaction will increase Umpqua’s assets to about $11 billion and deposits to about $8.6 billion, based on Umpqua’s balances as of March 31.

As of Monday, all five of Nevada Security Bank’s locations, including its Silverado Bank division in Roseville, Calif., opened as Umpqua Bank stores at normal hours, from 9 a.m. to 5 p.m. The transaction increases Umpqua’s network to 181 store locations throughout northern Nevada, Northern California, Oregon and Washington. Customers of Nevada Security Bank and Silverado Bank are now customers of Umpqua Bank and deposits will continue to be insured by the FDIC up to the maximum permitted by law.

Umpqua Bank is working with former Nevada Security Bank and Silverado Bank employees to ensure that customers will be able to conduct business as usual. Umpqua Bank expects to convert Nevada Security Bank’s consumer banking, residential lending, commercial and small business services to the Umpqua Bank brand during the next several months. Umpqua Bank, Nevada Security Bank and Silverado Bank customers will be able to access the combined network of 201 ATMs without fees within two weeks.

For more information, customers can also visit www.umpquabank.com or call the Umpqua Bank customer care team at (866) 486-7782.