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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">As filed with the Securities and Exchange Commission
on May 2, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Registration No. 333-_______</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM S-8 REGISTRATION STATEMENT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>UNDER THE SECURITIES ACT OF 1933</I></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UMPQUA HOLDINGS CORPORATION</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><B>Oregon</B></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: right"><B>93-1261319</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 9pt">(State
    of incorporation)</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 9pt">(I.R.S.
    Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: justify"><B>One SW Columbia
    Street, Suite 1200</B></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: justify"><B>Portland, Oregon</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: right"><B>97258</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 9pt; text-align: justify"><FONT STYLE="font-size: 9pt">(Address
    of principal executive offices)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">(Zip
    Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UMPQUA HOLDINGS CORPORATION 2013 INCENTIVE
PLAN</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Full title of the plan)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Steven L. Philpott</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Executive Vice President, General Counsel
and Secretary</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Umpqua Holdings Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>675 Oak Street, Suite 200; PO Box 1560</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Eugene, Oregon 97440</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">(Name and address of agent
for service)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(541) 434-2997</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Telephone number, including area code, of agent
for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><BR>
<I>Copy to</I>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Andrew H. Ognall</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Lane Powell PC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">601 SW 2nd Avenue, Suite 2100</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Portland, Oregon 97204</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">____________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 4.5pt 0 0">Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &ldquo;large
accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2 of the Exchange
Act.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 0.5in; font-size: 10pt">Large accelerated filer <FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">Accelerated filer <FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 0.5in; font-size: 10pt">Non-accelerated filer <FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">Smaller reporting company <FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Title
    of securities to be registered</TD>
    <TD STYLE="width: 15%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Amount
    to be registered (1)</TD>
    <TD STYLE="width: 27%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Proposed
    maximum offering price per share (2)</TD>
    <TD STYLE="width: 25%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Proposed
    maximum aggregate offering price (2)</TD>
    <TD STYLE="width: 17%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Amount
    of registration fee</TD></TR>
<TR>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; border-left: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Common
    Stock</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4,000,000</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$11.78</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$47,120,000</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$6,427.17</TD></TR>
</TABLE>
<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(1) In accordance with Rule 416(a) under the
Securities Act of 1933 an undetermined number of additional shares of common stock are registered that may become available for
purchase in the event of any future change in the outstanding shares of common stock as a result of a stock dividend, stock split
or similar adjustment.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(2) Estimated solely for the purpose of calculating
the registration fee pursuant to Rule 457(h) under the Securities Act of 1933. The calculation of the registration fee is based
on the average of the high and low prices of the Common Stock on May 1, 2013.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in"><B>Part I</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in"><B>INFORMATION
REQUIRED IN THE SECTION 10(a) PROSPECTUS </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The documents containing
the information called for in Part I (Items 1 and 2) of Form S-8 will be delivered to participants in the Umpqua Holdings Corporation
2013 Incentive Plan as specified by Rule 428 under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).
In accordance with Rule 428 of the Securities Act and the requirements of Part I of Form S-8, such documents are not being filed
with or included in this Registration Statement on Form S-8 (by incorporation by reference or otherwise).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in"><B>Part II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in"><B>INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Item 3.</B></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Incorporation of Documents by Reference.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following documents
filed by Umpqua Holdings Corporation (the &ldquo;Company&rdquo;) with the Securities and Exchange Commission (the &ldquo;Commission&rdquo;)
are incorporated by reference in this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The Company&rsquo;s Annual Report
                                                               on Form 10-K for the fiscal year ended December 31, 2012, filed
                                                               on February 15, 2013.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">All other reports filed pursuant
                                                               to Section 13(a) or 15(d) of the Securities Exchange Act of 1934,
                                                               as amended (the &ldquo;Exchange Act&rdquo;) since the end of the
                                                               fiscal year covered by the annual report referred to in (a) above.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">The description of the Company&rsquo;s
                                                               Common Stock contained in the Form 8-K filed May 30, 2007, for
                                                               the purposes of updating the description contained in the Registration
                                                               Statement on Form 10 filed by Umpqua Bank (formerly known as South
                                                               Umpqua Bank) pursuant to Section 12 of the Exchange Act with the
                                                               Federal Deposit Insurance Corporation on February 6, 1998, and
                                                               any amendment or reports filed for the purpose of updating that
                                                               description. On March 19, 1999, the Company filed notice on Form
                                                               8-K12G3 that pursuant to Rule 12g-3(a) under the Exchange Act,
                                                               the Company is the successor issuer to Umpqua Bank and the common
                                                               stock of the Company was deemed to be registered pursuant to section
                                                               12(g) of the Exchange Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">All reports and documents
subsequently filed by the Company pursuant to sections 13(a), 13(c), 14, and 15(d) of the Exchange Act, prior to the filing of
a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing
of such documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Item 4.</B></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Description of Securities.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Item 5.</B></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Interests of Named Experts and Counsel.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Lane Powell PC, special
counsel to the Company, is passing upon the validity of the common stock being registered. A shareholder of Lane Powell PC is
Assistant Secretary of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Item 6.</B></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Indemnification of Directors and
    Officers.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Under the Oregon Business
Corporation Act (Oregon Revised Statutes Sections 60.387 to 60.414), applicable to the Company, a person who is made a party to
a proceeding because such person is or was an</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">officer or director of a corporation may be
indemnified by the corporation against liability incurred by such person in connection with the proceeding if (i) the person&rsquo;s
conduct was in good faith and in a manner he or she reasonably believed was in the corporation&rsquo;s best interest or at least
not opposed to its best interests and (ii) if the proceeding was a criminal proceeding, the person had no reasonable cause to
believe his or her conduct was unlawful. Indemnification is not permitted if the person was adjudged liable to the corporation
in a proceeding by or in the right of the corporation, or if the person was adjudged liable on the basis that he or she improperly
received a personal benefit. Unless the articles of incorporation of the corporation provide otherwise, such indemnification is
mandatory if the person is wholly successful on the merits or otherwise, or if ordered by a court of competent jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company&rsquo;s Articles
of Incorporation grant an indemnification right to any person who was or is a party to or is threatened to be made a party to
any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, or investigative, (including
all appeals) (other than an action by or in the right of the Company discussed below) by reason of or arising from the fact that
the person is or was a director or officer of the Company or one of its subsidiaries, or is or was serving at the request of the
Company as a director, officer, partner, or trustee of another foreign or domestic corporation, partnership, joint venture, trust,
employee benefit plan or other enterprise, against reasonable expenses (including attorney&rsquo;s fees), judgments, fines, penalties,
excise taxes assessed with respect to any employee benefit plan and amounts paid in settlement actually and reasonably incurred
by the person to be indemnified in connection with such action, suit or proceeding if the person acted in good faith, did not
engage in intentional misconduct, and, with respect to any criminal action or proceeding, did not know the conduct was unlawful.
The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere
or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith or, with respect to any
criminal action or proceeding, that the person knew that the conduct was unlawful. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company&rsquo;s Articles
of Incorporation also grant an indemnification right to any person who was or is a party or is threatened to be made a party to
any threatened, pending or completed action or suit (including all appeals) by or in the right of the Company to procure a judgment
in its favor by reason of or arising from the fact that the person is or was a director or officer of the Company or one of its
subsidiaries, or is or was serving at the request of the Company as a director, officer, partner, or trustee of another foreign
or domestic corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, against reasonable expenses
(including attorneys&rsquo; fees) actually incurred by the person to be indemnified in connection with the defense or settlement
of such action or suit if the person acted in good faith, provided, however, that no indemnification shall be made in respect
of any claim, issue or matter as to which such person shall have been adjudged to be liable for deliberate misconduct in the performance
of that person&rsquo;s duty to the Company, for any transaction in which the person received an improper personal benefit, for
any breach of the duty of loyalty to the Company, or for any distribution to shareholders which is unlawful under the Oregon Business
Corporation Act, or successor statute, unless and only to the extent that the court in which such action or suit was brought shall
determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such
person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">To the extent a director
or officer (or an employee if the Board of Directors votes to extend an indemnification right to such person) is successful on
the merits or otherwise in defense of any action, suit or proceeding referred to above, or in defense of any claim, issue or matter
therein, that person shall be indemnified against expenses (including attorneys&rsquo; fees) actually and reasonably incurred
by him or her in connection therewith. The Company may advance expenses prior to the final disposition of such action, suit or
proceeding upon receipt of an undertaking by or on behalf of such person to repay such expenses if it shall ultimately be determined
that the person is not entitled to be indemnified by the Company and a written affirmation of the person&rsquo;s good faith belief
that he or she has met the applicable standard of conduct. The undertaking must be a general personal obligation of the party
receiving the advances but need not be secured and may be accepted without reference to financial ability to make repayment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Oregon Business Corporation
Act also provides that a corporation&rsquo;s articles of incorporation may limit or eliminate the personal liability of a director
to the corporation or its shareholders for monetary</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">damages for conduct as a director, provided
that no such provision shall eliminate the liability of a director for (i) any breach of the directors&rsquo; duty of loyalty
to the corporation or its shareholders; (ii) acts or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law; (iii) any unlawful distribution; or (iv) any transaction from which the director derived an improper
personal benefit. The Company&rsquo;s Articles of Incorporation provide that, to the fullest extent permissible by law, no director
shall be personally liable to the Company or its shareholders for monetary damages.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The effect of these provisions is to limit
the liability of directors for monetary damages, and to indemnify our directors and officers for all costs and expenses for liability
incurred by them in connection with any action, suit or proceeding in which they may become involved by reason of their affiliation
with us, to the fullest extent permitted by law. The Company maintains directors&rsquo; and officers&rsquo; liability insurance
under which the Company&rsquo;s directors and officers are insured against claims for errors, neglect, breach of duty and other
matters. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Item 7.</B></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Exemption from Registration Claimed.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Not Applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Item 8.</B></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Exhibits.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Exhibit Index immediately
following the signature page and preceding the exhibits is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Item 9.</B></TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>Undertakings.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&#9;&nbsp;&nbsp;&nbsp;The undersigned
registrant hereby undertakes: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(1)&#9;&nbsp;&nbsp;&nbsp;To file, during any
period in which offers or sales are being made and to the extent required by the Securities Act and the rules and regulations
promulgated thereunder, a post-effective amendment to this registration statement: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">to
                                                                                                           include any prospectus
                                                                                                           required by section
                                                                                                           10(a)(3) of the Securities
                                                                                                           Act; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">to
                                                                                                            reflect in the prospectus
                                                                                                            any facts or events
                                                                                                            arising after the
                                                                                                            effective date of
                                                                                                            this registration
                                                                                                            statement (or the
                                                                                                            most recent post-effective
                                                                                                            amendment thereof)
                                                                                                            which, individually
                                                                                                            or in the aggregate,
                                                                                                            represent a fundamental
                                                                                                            change in the information
                                                                                                            set forth in this
                                                                                                            registration statement.
                                                                                                            </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: -2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify">Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which
was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form
of a prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent
no more than a 20 percent change in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo;
table in the effective registration statement; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">To
                                                                                                             include any material
                                                                                                             information with
                                                                                                             respect to the plan
                                                                                                             of distribution not
                                                                                                             previously disclosed
                                                                                                             in this registration
                                                                                                             statement or any
                                                                                                             material change to
                                                                                                             such information
                                                                                                             in this registration
                                                                                                             statement; </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Provided, however, that paragraphs (a)(1)(i)
and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">the Commission by the registrant pursuant
to section 13 or section 15(d) of the Exchange Act, that are incorporated by reference in this registration statement. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(2)&#9;&nbsp;&nbsp;&nbsp;That, for the purpose
of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(3)&#9;&nbsp;&nbsp;&nbsp;To remove from registration
by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&#9;&nbsp;&nbsp;&nbsp;The undersigned
registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant&rsquo;s
annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan&rsquo;s annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&#9;&nbsp;&nbsp;&nbsp;Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such
indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that
a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceedings) is asserted
by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless
in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Portland, State of Oregon, on the 1st day of May, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>UMPQUA HOLDINGS CORPORATION</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&nbsp;&nbsp;<U>/s/ Raymond P. Davis</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.3in; text-align: justify">Raymond P. Davis, President
        and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.3in; text-align: justify">Chief Executive Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">KNOW ALL PERSONS BY THESE
PRESENTS, that each person whose signature appears below constitutes and appoints Raymond P. Davis, Ronald L. Farnsworth and Steven
L. Philpott, and each of them, each with full power to act without the other, his or her true and lawful attorneys-in-fact and
agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and
all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to file
the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission,
granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act
and thing requisite and necessary to be done, as fully for all intents and purposes as he or she might or could do in person,
hereby ratifying and confirming all that said attorneys-in-fact and agents, or their substitutes, may lawfully do or cause to
be done by virtue thereof. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and
on May 1, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">PRINCIPAL EXECUTIVE OFFICER AND DIRECTOR:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Raymond P. Davis</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Raymond P. Davis</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Director, President and Chief Executive
Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">PRINCIPAL FINANCIAL OFFICER:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Ronald L. Farnsworth</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Ronald L. Farnsworth</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Executive Vice President, Chief
Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">PRINCIPAL ACCOUNTING OFFICER:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Neal T. McLaughlin</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Neal T. McLaughlin</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Executive Vice President, Treasurer</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">DIRECTORS:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Peggy Y. Fowler</U></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Peggy Y. Fowler</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Director, Chairman of the
        Board</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Stephen M. Gambee</U></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ James S. Greene</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Stephen M. Gambee</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Director</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">James S. Greene</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Director</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Laureen E. Seeger</U></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Luis F. Machuca</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Laureen E. Seeger</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Director</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.1pt; text-align: justify">Luis F. Machuca</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.1pt; text-align: justify">Director</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Dudley R. Slater</U></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Susan F. Stevens</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Dudley R. Slater</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Director</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Susan F. Stevens</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Director</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Hilliard C. Terry, III</U></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Bryan L. Timm</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Hilliard C. Terry, III</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Director</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.1pt; text-align: justify">Bryan L. Timm</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.1pt; text-align: justify">Director</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ Frank R. J. Whittaker</U></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Frank R. J. Whittaker</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Director</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT </B></P>

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    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">Exhibit 4.1</TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Restated Articles of Incorporation
    (incorporated by reference to Exhibit 3.1 to Form 10-Q filed May 7, 2010)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Exhibit 4.2</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Bylaws, as amended (incorporated by reference to
    Exhibit 3.2 to Form 8-K filed April 22, 2008)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Exhibit 4.3</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Specimen Stock Certificate (incorporated by reference
    to the Company&rsquo;s registration statement on Form S-8 filed April 28, 1999)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Exhibit 5.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Opinion of Lane Powell PC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Exhibit 23.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Consent of Moss Adams LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Exhibit 23.2</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Consent of Lane Powell PC (included in Exhibit
    5.1)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Exhibit 24</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Power of Attorney (provided on the signature page
    hereto)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Exhibit 99.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">2013 Incentive Plan (incorporated by reference
    to <U>Appendix A</U> to the Company&rsquo;s Definitive Proxy Statement filed February 25, 2013)</TD></TR>
</TABLE>
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[{"type": "S-8", "sequence": "1", "filename": "s8uhc050213.htm", "secsgml_size_bytes": 61693}]
{"company-data": {"conformed-name": "UMPQUA HOLDINGS CORP", "cik": "0001077771", "assigned-sic": "6035", "irs-number": "931261319", "state-of-incorporation": "OR", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-188291", "film-number": "13807242"}, "business-address": {"street1": "ONE SW COLUMBIA STREET", "street2": "SUITE 1200", "city": "PORTLAND", "state": "OR", "zip": "97258", "phone": "503-727-4100"}, "mail-address": {"street1": "ONE SW COLUMBIA STREET", "street2": "SUITE 1200", "city": "PORTLAND", "state": "OR", "zip": "97258"}}
As filed with the Securities and Exchange Commission
on May 2, 2013
Registration No. 333-_______
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8 REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
UMPQUA HOLDINGS CORPORATION
(Exact name of registrant as specified in its
charter)
____________________________
Oregon
93-1261319
(State
    of incorporation)
(I.R.S.
    Employer Identification No.)
One SW Columbia
    Street, Suite 1200
Portland, Oregon
97258
(Address
    of principal executive offices)
(Zip
    Code)
UMPQUA HOLDINGS CORPORATION 2013 INCENTIVE
PLAN
(Full title of the plan)
Steven L. Philpott
Executive Vice President, General Counsel
and Secretary
Umpqua Holdings Corporation
675 Oak Street, Suite 200; PO Box 1560
Eugene, Oregon 97440
(Name and address of agent
for service)
(541) 434-2997
(Telephone number, including area code, of agent
for service)
____________________________
Copy to
:
Andrew H. Ognall
Lane Powell PC
601 SW 2nd Avenue, Suite 2100
Portland, Oregon 97204
____________________________
Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large
accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange
Act.
Large accelerated filer
x
Accelerated filer
¨
Non-accelerated filer
¨
Smaller reporting company
¨
CALCULATION OF REGISTRATION FEE
Title
    of securities to be registered
Amount
    to be registered (1)
Proposed
    maximum offering price per share (2)
Proposed
    maximum aggregate offering price (2)
Amount
    of registration fee
Common
    Stock
4,000,000
$11.78
$47,120,000
$6,427.17
(1) In accordance with Rule 416(a) under the
Securities Act of 1933 an undetermined number of additional shares of common stock are registered that may become available for
purchase in the event of any future change in the outstanding shares of common stock as a result of a stock dividend, stock split
or similar adjustment.
(2) Estimated solely for the purpose of calculating
the registration fee pursuant to Rule 457(h) under the Securities Act of 1933. The calculation of the registration fee is based
on the average of the high and low prices of the Common Stock on May 1, 2013.
Part I
INFORMATION
REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing
the information called for in Part I (Items 1 and 2) of Form S-8 will be delivered to participants in the Umpqua Holdings Corporation
2013 Incentive Plan as specified by Rule 428 under the Securities Act of 1933, as amended (the "Securities Act").
In accordance with Rule 428 of the Securities Act and the requirements of Part I of Form S-8, such documents are not being filed
with or included in this Registration Statement on Form S-8 (by incorporation by reference or otherwise).
Part II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
The following documents
filed by Umpqua Holdings Corporation (the "Company") with the Securities and Exchange Commission (the "Commission")
are incorporated by reference in this registration statement:
(a)
The Company's Annual Report
                                                               on Form 10-K for the fiscal year ended December 31, 2012, filed
                                                               on February 15, 2013.
(b)
All other reports filed pursuant
                                                               to Section 13(a) or 15(d) of the Securities Exchange Act of 1934,
                                                               as amended (the "Exchange Act") since the end of the
                                                               fiscal year covered by the annual report referred to in (a) above.
(c)
The description of the Company's
                                                               Common Stock contained in the Form 8-K filed May 30, 2007, for
                                                               the purposes of updating the description contained in the Registration
                                                               Statement on Form 10 filed by Umpqua Bank (formerly known as South
                                                               Umpqua Bank) pursuant to Section 12 of the Exchange Act with the
                                                               Federal Deposit Insurance Corporation on February 6, 1998, and
                                                               any amendment or reports filed for the purpose of updating that
                                                               description. On March 19, 1999, the Company filed notice on Form
                                                               8-K12G3 that pursuant to Rule 12g-3(a) under the Exchange Act,
                                                               the Company is the successor issuer to Umpqua Bank and the common
                                                               stock of the Company was deemed to be registered pursuant to section
                                                               12(g) of the Exchange Act.
All reports and documents
subsequently filed by the Company pursuant to sections 13(a), 13(c), 14, and 15(d) of the Exchange Act, prior to the filing of
a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing
of such documents.
Item 4.
Description of Securities.
Not Applicable.
Item 5.
Interests of Named Experts and Counsel.
Lane Powell PC, special
counsel to the Company, is passing upon the validity of the common stock being registered. A shareholder of Lane Powell PC is
Assistant Secretary of the Company.
Item 6.
Indemnification of Directors and
    Officers.
Under the Oregon Business
Corporation Act (Oregon Revised Statutes Sections 60.387 to 60.414), applicable to the Company, a person who is made a party to
a proceeding because such person is or was an
officer or director of a corporation may be
indemnified by the corporation against liability incurred by such person in connection with the proceeding if (i) the person's
conduct was in good faith and in a manner he or she reasonably believed was in the corporation's best interest or at least
not opposed to its best interests and (ii) if the proceeding was a criminal proceeding, the person had no reasonable cause to
believe his or her conduct was unlawful. Indemnification is not permitted if the person was adjudged liable to the corporation
in a proceeding by or in the right of the corporation, or if the person was adjudged liable on the basis that he or she improperly
received a personal benefit. Unless the articles of incorporation of the corporation provide otherwise, such indemnification is
mandatory if the person is wholly successful on the merits or otherwise, or if ordered by a court of competent jurisdiction.
The Company's Articles
of Incorporation grant an indemnification right to any person who was or is a party to or is threatened to be made a party to
any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, or investigative, (including
all appeals) (other than an action by or in the right of the Company discussed below) by reason of or arising from the fact that
the person is or was a director or officer of the Company or one of its subsidiaries, or is or was serving at the request of the
Company as a director, officer, partner, or trustee of another foreign or domestic corporation, partnership, joint venture, trust,
employee benefit plan or other enterprise, against reasonable expenses (including attorney's fees), judgments, fines, penalties,
excise taxes assessed with respect to any employee benefit plan and amounts paid in settlement actually and reasonably incurred
by the person to be indemnified in connection with such action, suit or proceeding if the person acted in good faith, did not
engage in intentional misconduct, and, with respect to any criminal action or proceeding, did not know the conduct was unlawful.
The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere
or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith or, with respect to any
criminal action or proceeding, that the person knew that the conduct was unlawful.
The Company's Articles
of Incorporation also grant an indemnification right to any person who was or is a party or is threatened to be made a party to
any threatened, pending or completed action or suit (including all appeals) by or in the right of the Company to procure a judgment
in its favor by reason of or arising from the fact that the person is or was a director or officer of the Company or one of its
subsidiaries, or is or was serving at the request of the Company as a director, officer, partner, or trustee of another foreign
or domestic corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, against reasonable expenses
(including attorneys' fees) actually incurred by the person to be indemnified in connection with the defense or settlement
of such action or suit if the person acted in good faith, provided, however, that no indemnification shall be made in respect
of any claim, issue or matter as to which such person shall have been adjudged to be liable for deliberate misconduct in the performance
of that person's duty to the Company, for any transaction in which the person received an improper personal benefit, for
any breach of the duty of loyalty to the Company, or for any distribution to shareholders which is unlawful under the Oregon Business
Corporation Act, or successor statute, unless and only to the extent that the court in which such action or suit was brought shall
determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such
person is fairly and reasonably entitled to indemnity for such expenses which the court shall deem proper.
To the extent a director
or officer (or an employee if the Board of Directors votes to extend an indemnification right to such person) is successful on
the merits or otherwise in defense of any action, suit or proceeding referred to above, or in defense of any claim, issue or matter
therein, that person shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred
by him or her in connection therewith. The Company may advance expenses prior to the final disposition of such action, suit or
proceeding upon receipt of an undertaking by or on behalf of such person to repay such expenses if it shall ultimately be determined
that the person is not entitled to be indemnified by the Company and a written affirmation of the person's good faith belief
that he or she has met the applicable standard of conduct. The undertaking must be a general personal obligation of the party
receiving the advances but need not be secured and may be accepted without reference to financial ability to make repayment.
The Oregon Business Corporation
Act also provides that a corporation's articles of incorporation may limit or eliminate the personal liability of a director
to the corporation or its shareholders for monetary
damages for conduct as a director, provided
that no such provision shall eliminate the liability of a director for (i) any breach of the directors' duty of loyalty
to the corporation or its shareholders; (ii) acts or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law; (iii) any unlawful distribution; or (iv) any transaction from which the director derived an improper
personal benefit. The Company's Articles of Incorporation provide that, to the fullest extent permissible by law, no director
shall be personally liable to the Company or its shareholders for monetary damages.
The effect of these provisions is to limit
the liability of directors for monetary damages, and to indemnify our directors and officers for all costs and expenses for liability
incurred by them in connection with any action, suit or proceeding in which they may become involved by reason of their affiliation
with us, to the fullest extent permitted by law. The Company maintains directors' and officers' liability insurance
under which the Company's directors and officers are insured against claims for errors, neglect, breach of duty and other
matters.
Item 7.
Exemption from Registration Claimed.
Not Applicable.
Item 8.
Exhibits.
The Exhibit Index immediately
following the signature page and preceding the exhibits is incorporated herein by reference.
Item 9.
Undertakings.
(a)	   The undersigned
registrant hereby undertakes:
(1)	   To file, during any
period in which offers or sales are being made and to the extent required by the Securities Act and the rules and regulations
promulgated thereunder, a post-effective amendment to this registration statement:
(i)
to
                                                                                                           include any prospectus
                                                                                                           required by section
                                                                                                           10(a)(3) of the Securities
                                                                                                           Act;
(ii)
to
                                                                                                            reflect in the prospectus
                                                                                                            any facts or events
                                                                                                            arising after the
                                                                                                            effective date of
                                                                                                            this registration
                                                                                                            statement (or the
                                                                                                            most recent post-effective
                                                                                                            amendment thereof)
                                                                                                            which, individually
                                                                                                            or in the aggregate,
                                                                                                            represent a fundamental
                                                                                                            change in the information
                                                                                                            set forth in this
                                                                                                            registration statement.
Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which
was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form
of a prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent
no more than a 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee"
table in the effective registration statement;
(iii)
To
                                                                                                             include any material
                                                                                                             information with
                                                                                                             respect to the plan
                                                                                                             of distribution not
                                                                                                             previously disclosed
                                                                                                             in this registration
                                                                                                             statement or any
                                                                                                             material change to
                                                                                                             such information
                                                                                                             in this registration
                                                                                                             statement;
Provided, however, that paragraphs (a)(1)(i)
and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained
in reports filed with or furnished to
the Commission by the registrant pursuant
to section 13 or section 15(d) of the Exchange Act, that are incorporated by reference in this registration statement.
(2)	   That, for the purpose
of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
(3)	   To remove from registration
by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)	   The undersigned
registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's
annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan's annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)	   Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission such
indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that
a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceedings) is asserted
by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless
in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements
of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Portland, State of Oregon, on the 1st day of May, 2013.
UMPQUA HOLDINGS CORPORATION
By:
/s/ Raymond P. Davis
Raymond P. Davis, President
        and
Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE
PRESENTS, that each person whose signature appears below constitutes and appoints Raymond P. Davis, Ronald L. Farnsworth and Steven
L. Philpott, and each of them, each with full power to act without the other, his or her true and lawful attorneys-in-fact and
agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and
all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement, and to file
the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission,
granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act
and thing requisite and necessary to be done, as fully for all intents and purposes as he or she might or could do in person,
hereby ratifying and confirming all that said attorneys-in-fact and agents, or their substitutes, may lawfully do or cause to
be done by virtue thereof.
Pursuant to the requirements
of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and
on May 1, 2013.
PRINCIPAL EXECUTIVE OFFICER AND DIRECTOR:
By:
/s/ Raymond P. Davis
Raymond P. Davis
Director, President and Chief Executive
Officer
PRINCIPAL FINANCIAL OFFICER:
By:
/s/ Ronald L. Farnsworth
Ronald L. Farnsworth
Executive Vice President, Chief
Financial Officer
PRINCIPAL ACCOUNTING OFFICER:
By:
/s/ Neal T. McLaughlin
Neal T. McLaughlin
Executive Vice President, Treasurer
DIRECTORS:
By:
/s/ Peggy Y. Fowler
Peggy Y. Fowler
Director, Chairman of the
        Board
By:
/s/ Stephen M. Gambee
By:
/s/ James S. Greene
Stephen M. Gambee
Director
James S. Greene
Director
By:
/s/ Laureen E. Seeger
By:
/s/ Luis F. Machuca
Laureen E. Seeger
Director
Luis F. Machuca
Director
By:
/s/ Dudley R. Slater
By:
/s/ Susan F. Stevens
Dudley R. Slater
Director
Susan F. Stevens
Director
By:
/s/ Hilliard C. Terry, III
By:
/s/ Bryan L. Timm
Hilliard C. Terry, III
Director
Bryan L. Timm
Director
By:
/s/ Frank R. J. Whittaker
Frank R. J. Whittaker
Director
EXHIBIT
Exhibit 4.1
Restated Articles of Incorporation
    (incorporated by reference to Exhibit 3.1 to Form 10-Q filed May 7, 2010)
Exhibit 4.2
Bylaws, as amended (incorporated by reference to
    Exhibit 3.2 to Form 8-K filed April 22, 2008)
Exhibit 4.3
Specimen Stock Certificate (incorporated by reference
    to the Company's registration statement on Form S-8 filed April 28, 1999)
Exhibit 5.1
Opinion of Lane Powell PC
Exhibit 23.1
Consent of Moss Adams LLP
Exhibit 23.2
Consent of Lane Powell PC (included in Exhibit
    5.1)
Exhibit 24
Power of Attorney (provided on the signature page
    hereto)
Exhibit 99.1
2013 Incentive Plan (incorporated by reference
    to
Appendix A
to the Company's Definitive Proxy Statement filed February 25, 2013)