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<P align="right">
<B><FONT size=2 face="serif">As filed with the Securities and Exchange Commission on June 16, 2006<br>
Registration No. 333-132453</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR>
<B><FONT size=2 face="serif">WASHINGTON, D.C. 20549 </FONT></B><BR>
<p>
</P>
<P align="center">
<B><FONT size=4 face="serif">POST EFFECTIVE AMENDMENT NO. 1 <br>
TO FORM S-4</FONT></B><FONT size=2 face="serif"> <br>
</FONT><B><FONT size=4 face="serif">ON<br>
FORM S-8 <br>
REGISTRATION STATEMENT</FONT></B><FONT size=4 face="serif"> <br>
</FONT>
<B><FONT size=2 face="serif">UNDER THE SECURITIES ACT OF 1933</FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="center">
<B><FONT size=4 face="serif">UMPQUA HOLDINGS CORPORATION <br>
</FONT><FONT size=2 face="serif">(Exact name of registrant as specified in its
charter)</FONT></B></P>
<TABLE border=0 cellspacing=1 cellpadding=0 width="755">
<TR valign="bottom">
	<TD width=130 nowrap align=center>
<FONT size=2 face="serif">Oregon</FONT>&nbsp;
	</TD>
	<TD width=76>
&nbsp;	</TD>
	<TD width=345 nowrap align=center>
<FONT size=2 face="serif">6022</FONT>&nbsp;
	</TD>
	<TD width=79>
&nbsp;	</TD>
	<TD width=119 nowrap align=right>
<FONT size=2 face="serif">93-1261319</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=130 nowrap align=center>
<FONT size=2 face="serif">(</FONT><B><FONT size=2 face="serif">State of Incorporation</FONT></B><FONT size=2 face="serif">)</FONT>&nbsp;
	</TD>
	<TD width=76>
&nbsp;	</TD>
	<TD width=345 nowrap align=center>
<FONT size=2 face="serif">(</FONT><B><FONT size=2 face="serif">Primary Standard Industrial</FONT></B>&nbsp;
	</TD>
	<TD width=79>
&nbsp;	</TD>
	<TD width=119 nowrap align=right>
<FONT size=2 face="serif">(</FONT><B><FONT size=2 face="serif">IRS Employer</FONT></B>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=130 nowrap align=left>
&nbsp;
	</TD>
	<TD width=76>
&nbsp;	</TD>
	<TD width=345 nowrap align=center>
<B><FONT size=2 face="serif">Classification Code Number</FONT></B><FONT size=2 face="serif">)</FONT>&nbsp;
	</TD>
	<TD width=79>
&nbsp;	</TD>
	<TD width=119 nowrap align=right>
<B><FONT size=2 face="serif">Identification No.</FONT></B><FONT size=2 face="serif">)</FONT>&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=5 width="620">
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD align=center width=620 colspan=5>
&nbsp;</TD>
</TR>
</TABLE><BR>
<p align="center">
<FONT size=2 face="serif">One SW Columbia Street, Suite 1200, Portland, Oregon 97258</FONT>
<br>
<FONT size=2 face="serif">(503) 727-4100</FONT> <br>
 &nbsp;<FONT size=2 face="serif">(</FONT><B><FONT size=2 face="serif">Address of Principal Executive Offices</FONT></B><FONT size=2
face="serif">)</FONT>&nbsp; </p>
<p align="center">&nbsp;
<FONT size=2 face="serif">Western Sierra Bancorp 2004 Stock Option Plan<br>
Western Sierra Bancorp 1999 Stock Option Plan</FONT><br>
<FONT size=2 face="serif">Western Sierra Bancorp 1997 Stock Option Plan</FONT><br>
<FONT size=2 face="serif">Auburn Community Bancorp 2003 Stock Option Plan</FONT><BR>
<FONT size=2 face="serif">Sentinel Community Bank 1999 Stock Option Plan</FONT><BR>
<FONT size=2 face="serif">Western Sierra National Bank 1989 Stock Option Plan</FONT><BR>
<FONT size=2 face="serif">(</FONT><B><FONT size=2 face="serif">Full title of the plans</FONT></B><FONT size=2 face="serif">)</FONT><B><FONT size=2 face="serif"> </FONT></B>
</p>
<P align="center">
<FONT size=2 face="serif">Steven L. Philpott, Executive Vice President, General Counsel and Secretary
<br>
Umpqua Holdings Corporation <br>
675 Oak Street, Suite 200; PO Box 1560 <br>
Eugene, Oregon 97440<br>
&nbsp;(541) 434-2997<br>
&nbsp;(</FONT><B><FONT size=2 face="serif">Name,
Address and Telephone Number of Agent for Service</FONT></B><FONT size=2 face="serif">) </FONT></P>
<P align="center">
<FONT size=2 face="serif">With a Copy to: </FONT><BR>
<FONT size=2 face="serif">Andrew H. Ognall, Esq. </FONT><BR>
<FONT size=2 face="serif">Foster Pepper Tooze LLP </FONT><BR>
<FONT size=2 face="serif">601 SW Second Avenue, Suite 1800</FONT><BR>
<FONT size=2 face="serif">Portland, Oregon 97204 </FONT><BR>
<FONT size=2 face="serif">(503) 221-0607 </FONT><BR>
<p>
</P>

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<p align="right">
<B><FONT size=2 face="serif">As filed with the Securities and Exchange Commission on June 16, 2006<br>
Registration No. 333-132453</FONT></B></p>
<A name="page_2"></A>

<TABLE border=0 cellspacing=1 cellpadding=0>
<TR>
	<TD colspan=13>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=62% nowrap colspan=9 align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="serif">CALCULATION OF REGISTRATION FEE</FONT></B>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan="13">
<HR noshade size=2>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=18% nowrap align=left>
<FONT size=2 face="serif">Title of Each Class of</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=23% nowrap colspan=5 align=right>
<FONT size=2 face="serif">Amount to be Registered </FONT><SUP><FONT size=2 face="serif">(1)</FONT></SUP>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=left>
<FONT size=2 face="serif">Proposed Maximum</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=left>
<FONT size=2 face="serif">Proposed Maximum</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=left>
<FONT size=2 face="serif">Amount of</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=18% nowrap align=left>
<FONT size=2 face="serif">Securities to be Registered</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=3% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=left>
<FONT size=2 face="serif">Offering Price per Unit</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=left>
<FONT size=2 face="serif">Aggregate Offering Price</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=left>
<FONT size=2 face="serif">Registration Fee</FONT>&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan="13">
<HR noshade size=2>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=18% nowrap align=left>
<I><FONT size=2 face="serif">Common Stock, no par</FONT></I>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">19,212</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=3% nowrap align=right>
<FONT size=1 face="serif">(3)</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=left>
<FONT size=2 face="serif">N/A </FONT><SUP><FONT size=2 face="serif">(2)</FONT></SUP>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=left>
<FONT size=2 face="serif">N/A </FONT><SUP><FONT size=2 face="serif">(2)</FONT></SUP>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=left>
<FONT size=2 face="serif">N/A </FONT><SUP><FONT size=2 face="serif">(2)</FONT></SUP>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=18% nowrap align=left>
<I><FONT size=2 face="serif">value</FONT></I>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">1,738</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=3% nowrap align=right>
<FONT size=1 face="serif">(4)</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">231,357</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=3% nowrap align=right>
<FONT size=1 face="serif">(5)</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">14,369</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=3% nowrap align=right>
<FONT size=1 face="serif">(6)</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp;<FONT size=2 face="serif">27,706</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=3% nowrap align=right>
<FONT size=1 face="serif">(7)</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp;<U><FONT size=2 face="serif">429,036</FONT></U>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=3% nowrap align=right>
<FONT size=1 face="serif">(8)</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=13>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=7% nowrap align=left>
<FONT size=2 face="serif">TOTAL</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=9% nowrap align=left>
 &nbsp; &nbsp;<U><FONT size=2 face="serif">723,418</FONT></U>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=3% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=11% nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan="13">
<HR noshade size=2>
	</TD>
</TR>
</TABLE><BR>
<TABLE border=0 cellspacing=0 cellpadding=0 width="762">
<TR>
	<TD nowrap valign=top width="49">
<FONT size=2 face="serif">(1)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=713>
<FONT size=2 face="serif">Umpqua Holdings Corporation originally registered 13,600,000 shares of its common stock on the Registration Statement on Form S-4 to which this post-effective amendment relates. Umpqua will issue approximately 12,746,205
shares to shareholders of Western Sierra Bancorp in exchange for shares of Western Sierra Bancorp common stock.</FONT>	</TD>
</TR>
<TR><TD colspan=2 width="762">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="49">
<FONT size=2 face="serif">(2)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=713>
<FONT size=2 face="serif">Umpqua paid all filing fees payable in connection with the registration of these securities with the filing of the Registration Statement on Form S-4 filed on March 15, 2006, amended April 13, 2006, and declared effective
April 18, 2006.</FONT>	</TD>
</TR>
<TR><TD colspan=2 width="762">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="49">
<FONT size=2 face="serif">(3)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=713>
<FONT size=2 face="serif">Approximate number of shares subject to options outstanding under the Auburn Community Bancorp 2003 Stock Option Plan.</FONT>	</TD>
</TR>
<TR><TD colspan=2 width="762">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="49">
<FONT size=2 face="serif">(4)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=713>
<FONT size=2 face="serif">Approximate number of shares subject to options outstanding under the Sentinel Community Bank 1999 Stock Option Plan.</FONT>	</TD>
</TR>
<TR><TD colspan=2 width="762">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="49">
<FONT size=2 face="serif">(5)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=713>
<FONT size=2 face="serif">Approximate number of shares subject to options outstanding under the Western Sierra Bancorp 2004 Stock Option Plan.</FONT>	</TD>
</TR>
<TR><TD colspan=2 width="762">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="49">
<FONT size=2 face="serif">(6)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=713>
<FONT size=2 face="serif">Approximate number of shares subject to options outstanding under the Western Sierra National Bank 1989 Stock Option Plan.</FONT>	</TD>
</TR>
<TR><TD colspan=2 width="762">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="49">
<FONT size=2 face="serif">(7)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=713>
<FONT size=2 face="serif">Approximate number of shares subject to options outstanding under the Western Sierra Bancorp 1997 Stock Option Plan.</FONT>	</TD>
</TR>
<TR><TD colspan=2 width="762">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="49">
<FONT size=2 face="serif">(8)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=713>
<FONT size=2 face="serif">Approximate number of shares subject to options outstanding under the Western Sierra Bancorp 1999 Stock Option Plan.</FONT>	</TD>
</TR>
<TR><TD colspan=2 width="762">&nbsp;</TD></TR></TABLE>

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<P align="center">
<B><FONT size=2 face="serif">INTRODUCTORY STATEMENT</FONT></B><P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On June 2, 2006, Western Sierra Bancorp merged with and into Umpqua Holdings Corporation, with Umpqua the surviving corporation. As a result of the merger, each outstanding share of Western Sierra Bancorp common stock was
converted into the right to receive 1.61 shares of Umpqua Holdings Corporation common stock.</FONT></P>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each outstanding stock option issued pursuant to the Western Sierra Bancorp 2004 Stock Option Plan, Western Sierra Bancorp 1999 Stock Option Plan, Western Sierra Bancorp 1997 Stock Option Plan, Auburn Community Bancorp
2003 Stock Option Plan, Sentinel Community Bank 1999 Stock Option Plan and Western Sierra National Bank 1989 Stock Option Plan (the "Western Sierra Plans") is no longer exercisable for shares of Western Sierra Bancorp common stock, but instead,
constitutes an option to acquire, on the same terms and conditions as were applicable under such option immediately prior to consummation of the merger, that number of shares of Umpqua Holdings Corporation common stock equal to the product of the
number of shares of Western Sierra Bancorp common stock for which such option was exercisable and 1.61. The exercise price for each option shall be the quotient obtained by dividing the exercise price per share for such option immediately prior to
the effective time of the merger by 1.61. </FONT></P>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Umpqua Holdings Corporation has assumed the obligations of Western Sierra Bancorp under the Umpqua assumed the obligations of Humboldt under the Western Sierra Plans. The purpose of this post-effective amendment is to
register on Form S-8 shares of Umpqua common stock previously registered on Form S-4 that will be issued pursuant to the exercise of options originally granted under the Western Sierra Plans. </FONT></P>
<P align="center">
<B><FONT size=2 face="serif">PART II</FONT></B><P align="center">
<B><FONT size=2 face="serif">INFORMATION NOT REQUIRED IN PROSPECTUS</FONT></B></P>
<P>
<B><FONT size=2 face="serif">Item 3. Incorporation of Documents by Reference.</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following documents are incorporated by reference in this registration statement</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0 width="707">
<TR>
	<TD nowrap valign=top width="25">
&nbsp;</TD>
	<TD nowrap valign=top width="44">
<FONT size=2 face="serif">(a)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=638>
<FONT size=2 face="serif">Umpqua's annual report on Form 10-K for the year ended December 31, 2005.</FONT>	</TD>
</TR>
<TR><TD width="25">&nbsp;</TD><TD colspan=2 width="682">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="25">
&nbsp;</TD>
	<TD nowrap valign=top width="44">
<FONT size=2 face="serif">(b)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=638>
<FONT size=2 face="serif">Umpqua's quarterly report on Form 10-Q for the quarter ended March 31, 2006 and Umpqua's current reports on Form 8-K filed pursuant to Section 13(a) of the Securities Exchange Act of 1934 since December 31,
2005.</FONT>	</TD>
</TR>
<TR><TD width="25">&nbsp;</TD><TD colspan=2 width="682">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="25">
&nbsp;</TD>
	<TD nowrap valign=top width="44">
<FONT size=2 face="serif">(c)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=638>
<FONT size=2 face="serif">The description of the registrant's common stock contained in the registrant's registration statement on Form S-4/A filed April 13, 2006 and declared effective April 18, 2006.</FONT>	</TD>
</TR>
<TR><TD width="25">&nbsp;</TD><TD colspan=2 width="682">&nbsp;</TD></TR></TABLE>
<P>
<FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT size=2 face="serif">All documents subsequently filed by the registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment
which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in the registration statement and to be part thereof from the date of filing of
such documents. </FONT></P>
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">Item 4. Description of Securities.</FONT></B><BR>
</TD></TR></TABLE>
<P align="left">
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not applicable.</FONT></P>

<P align="center">
<FONT face="serif">1</FONT></P>

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<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">Item 5. Interests of Named Experts and Counsel.</FONT></B><BR>
</TD></TR></TABLE>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foster Pepper Tooze LLP, special counsel to the registrant, is passing upon the validity of the common stock being registered. A partner of Foster Pepper Tooze LLP participating in the preparation of this Registration
Statement owns 10,000 shares of common stock.</FONT></P>
<P>
<B><FONT size=2 face="serif">Item 6. Indemnification of Directors and Officers. </FONT></B></P>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As an Oregon corporation, Umpqua is subject to the provisions of the Oregon Business Corporation Act (the "OBCA"). The OBCA permits a corporation to indemnify an individual who is made a party to a proceeding because such
individual is or was a director of the corporation against liability incurred in the proceeding if: </FONT></P>
<UL>
<LI>
<FONT size=2 face="serif">His or her conduct was in good faith;</FONT></LI>
<LI>
<FONT size=2 face="serif">He or she reasonably believed that his or her conduct was in the corporation's best interest, or</FONT> <FONT size=2 face="serif">at least not opposed to the corporation's best interests; and</FONT></LI>
<LI>
<FONT size=2 face="serif">In the case of a criminal proceeding, he or she had no reasonable cause to believe his or her</FONT> <FONT size=2 face="serif">conduct was unlawful.</FONT></LI>
</UL>
<P>
<FONT size=2 face="serif">Unless a corporation's articles of incorporation provide otherwise, indemnification is mandatory if the director is wholly successful on the merits or otherwise in such a proceeding, or if a court of competent jurisdiction
orders the corporation to indemnify the director. Umpqua's articles of incorporation do not limit the statutory right to indemnification. </FONT></P>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Under the OBCA, a corporation may not, however, indemnify the individual if the individual was adjudged liable: </FONT></P>
<UL>
<LI>
<FONT size=2 face="serif">to the corporation in a proceeding by or in the right of the corporation; or</FONT></LI>
<LI>
<FONT size=2 face="serif">in any proceeding charging improper personal benefit on the basis that he or she improperly</FONT> <FONT size=2 face="serif">received a personal benefit.</FONT></LI>
</UL>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The OBCA 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: </FONT></P>
<UL>
<LI>
<FONT size=2 face="serif">any breach of the directors' duty of loyalty to the corporation or its shareholders;</FONT></LI>
<LI>
<FONT size=2 face="serif">acts or omissions not in good faith or which involve intentional misconduct or a knowing</FONT> <FONT size=2 face="serif">violation of law;</FONT></LI>
<LI>
<FONT size=2 face="serif">any unlawful distribution; or</FONT></LI>
<LI>
<FONT size=2 face="serif">any transaction from which the director derived an improper personal benefit.</FONT></LI>
</UL>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Umpqua's articles of incorporation provide that we will indemnify our directors and officers against reasonable expenses (including attorney fees), judgments, fines, penalties, excise taxes or settlement payments incurred
or suffered by reason of service as a director or officer or at Umpqua's request as a director, officer, partner or trustee of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.</FONT></P>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Umpqua's articles of incorporation limit monetary liability of our directors for their conduct as directors to the fullest extent permitted under the OBCA. If the OBCA is amended to further limit the directors' liability,
Umpqua's articles would incorporate such amendment on its effective date.</FONT></P>
<P align="center">
<FONT face="serif">2</FONT></P>

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<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">Item 7. Exemption from Registration Claimed.</FONT></B><BR>
</TD></TR></TABLE>
<P>
<B><FONT size=2 face="serif"> </FONT></B><FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not applicable.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">Item 8. Exhibits.</FONT></B><BR>
</TD></TR></TABLE>
<P>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The exhibits required by Item 601 of Regulation S-K filed herewith or incorporated by reference are as follows:</FONT></P>
<TABLE><TR><TD width=36>&nbsp;</TD><TD nowrap>
<B><FONT size=2 face="serif">Exhibits</FONT></B><BR>
</TD></TR></TABLE>
<TABLE border=0 cellspacing=0 cellpadding=0 width="747">
<TR>
	<TD nowrap valign=top width="38">
&nbsp;</TD>
	<TD nowrap valign=top width="59">
<FONT size=2 face="serif">4.1</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=650>
<FONT size=2 face="serif">Western Sierra National Bank 1989 Stock Option Plan (incorporated by reference to Exhibit 10.10 to Western Sierra Bancorp's Registration Statement on Form S-4 (No. 333- 66675) filed November 2, 1998 (Film No.
98736498))</FONT>	</TD>
</TR>
<TR><TD width="38">&nbsp;</TD><TD colspan=2 width="687">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="38">
&nbsp;</TD>
	<TD nowrap valign=top width="59">
<FONT size=2 face="serif">4.2</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=650>
<FONT size=2 face="serif">Western Sierra Bancorp 1997 Stock Option Plan (incorporated by reference to Exhibit</FONT>
<FONT size=2 face="serif">10.11to Western Sierra Bancorp's Registration Statement on Form S-4 (No. 333-66675)</FONT>
<FONT size=2 face="serif">filed November 2, 1998 (Film No. 98736498))</FONT>	</TD>
</TR>
<TR><TD width="38">&nbsp;</TD><TD colspan=2 width="687">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="38">
&nbsp;</TD>
	<TD nowrap valign=top width="59">
<FONT size=2 face="serif">4.3</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=650>
<FONT size=2 face="serif">Western Sierra Bancorp 1999 Stock Option Plan (incorporated by reference to Exhibit</FONT>
<FONT size=2 face="serif">99.3</FONT>
<FONT size=2 face="serif">to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333-86653) filed September 7, 1999 (Film No. 99706921))</FONT>	</TD>
</TR>
<TR><TD width="38">&nbsp;</TD><TD colspan=2 width="687">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="38">
&nbsp;</TD>
	<TD nowrap valign=top width="59">
<FONT size=2 face="serif">4.4</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=650>
<FONT size=2 face="serif">Western Sierra Bancorp 2004 Stock Option Plan (incorporated by reference to Exhibit A to Western Sierra Bancorp's Schedule 14A filed on April 1, 2004 (Film No. 04708872))</FONT>	</TD>
</TR>
<TR><TD width="38">&nbsp;</TD><TD colspan=2 width="687">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="38">
&nbsp;</TD>
	<TD nowrap valign=top width="59">
<FONT size=2 face="serif">4.5</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=650>
<FONT size=2 face="serif">Sentinel Community Bank 1999 Stock Option Plan (incorporated by reference to Exhibit</FONT>
<FONT size=2 face="serif">99.4 to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333-50476)</FONT>
<FONT size=2 face="serif">filed November 22, 2000 (Film No. 775454))</FONT>	</TD>
</TR>
<TR><TD width="38">&nbsp;</TD><TD colspan=2 width="687">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="38">
&nbsp;</TD>
	<TD nowrap valign=top width="59">
<FONT size=2 face="serif">4.6</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=650>
<FONT size=2 face="serif">Auburn Community Bancorp 2003 Stock Option Plan (incorporated by reference to Exhibit 99.1 to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333- 111745) filed January 7, 2004 (Film No.
04512772))</FONT>	</TD>
</TR>
<TR><TD width="38">&nbsp;</TD><TD colspan=2 width="687">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="38">
&nbsp;</TD>
	<TD nowrap valign=top width="59">
<a href="s8uhc061606ex51.htm">
<FONT size=2 face="serif">5.1</FONT>&nbsp;</a> &nbsp; &nbsp; 	</TD>
	<TD width=650>
<FONT size=2 face="serif"><a href="s8uhc061606ex51.htm">Opinion of Foster Pepper Tooze LLP</a></FONT>	</TD>
</TR>
<TR><TD width="38">&nbsp;</TD><TD colspan=2 width="687">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="38">
&nbsp;</TD>
	<TD nowrap valign=top width="59">
<FONT size=2 face="serif"><a href="s8uhc061606ex231.htm">23.1</a></FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=650>
<FONT size=2 face="serif"><a href="s8uhc061606ex231.htm">Consent of Deloitte &amp; Touche LLP</a></FONT>	</TD>
</TR>
<TR><TD width="38">&nbsp;</TD><TD colspan=2 width="687">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="38">
&nbsp;</TD>
	<TD nowrap valign=top width="59">
<a href="s8uhc061606ex232.htm">
<FONT size=2 face="serif">23.2</FONT>&nbsp;</a> &nbsp; &nbsp; 	</TD>
	<TD width=650>
<a href="s8uhc061606ex232.htm">
<FONT size=2 face="serif">Consent of Moss Adams LLP</FONT> </a>	</TD>
</TR>
<TR><TD width="38">&nbsp;</TD><TD colspan=2 width="687">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="38">
&nbsp;</TD>
	<TD nowrap valign=top width="59">
<FONT size=2 face="serif">23.3</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=650>
<FONT size=2 face="serif">Consent of Foster Pepper Tooze LLP (included in Exhibit 5.1)</FONT>	</TD>
</TR>
<TR><TD width="38">&nbsp;</TD><TD colspan=2 width="687">&nbsp;</TD></TR><TR>
	<TD nowrap valign=top width="38">
&nbsp;</TD>
	<TD nowrap valign=top width="59">
<FONT size=2 face="serif">24</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=650>
<FONT size=2 face="serif">Power of Attorney (contained on signature page to Umpqua's registration statement on Form S-4 filed March 15, 2006, to which this post-effective amendment on Form S-8 relates)</FONT>	</TD>
</TR>
<TR><TD width="38">&nbsp;</TD><TD colspan=2 width="687">&nbsp;</TD></TR></TABLE>
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">Item 9. Undertakings</FONT></B><BR>
</TD></TR></TABLE>
<P>
<FONT size=2 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The undersigned registrant hereby undertakes:</FONT></P>
<P>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="serif"> (1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement to include any material information with respect to the plan
of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.</FONT></P>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) That, for the purpose of determining any liability under the Securities Act of 1933, 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.</FONT></P>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (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.</FONT></P>
<P align="center">
<FONT face="serif">3</FONT></P>

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<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) 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.</FONT></P>
<P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or controlling persons of the registrant pursuant to the foregoing provisions, 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
payment by the registrant of expenses incurred or paid by a director, officer or controlling person of such registrant in the successful defense of any action, suit or proceeding) 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.</FONT></P>
<P align="center">
<FONT face="serif">4</FONT></P>

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<P align="center">
<B><FONT size=2 face="serif">SIGNATURES</FONT></B><P>
<FONT size=2 face="serif"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the requirements of the Securities Act, the registrant has duly caused this Post-Effective Amendment No. 1 on Form S-8 to the registrant's registration statement on Form S-4 to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Portland, State of Oregon, on June 15, 2006. </FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0 width="657">
<TR valign="bottom">
	<TD width=25 nowrap align=left>
&nbsp;</TD>
	<TD width=9>
&nbsp;</TD>
	<TD width=287 nowrap align=left>
&nbsp;</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=321 nowrap align=left>
<FONT size=2 face="serif">UMPQUA HOLDINGS CORPORATION</FONT><BR>
	</TD>
</TR>
<TR>
	<TD width="25">
	&nbsp;</TD>
	<TD width="9">
	&nbsp;</TD>
	<TD width="287">
&nbsp;</TD>
	<TD width="9">
	</TD>
	<TD width="321">
	&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=25 nowrap align=left>
&nbsp;</TD>
	<TD width=9>
&nbsp;</TD>
	<TD width=287 nowrap align=left>
<p align="right">
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=321 nowrap align=left>
<u>
<FONT size=2 face="serif">/s/ Raymond P. Davis</FONT>&nbsp; </u>
	</TD>
</TR>
<TR valign="bottom">
	<TD width=25 nowrap align=left>
&nbsp;</TD>
	<TD width=9>
&nbsp;</TD>
	<TD width=287 nowrap align=left>
&nbsp;</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=321 nowrap align=left>
<FONT size=2 face="serif">Raymond P. Davis</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=25 nowrap align=left>
&nbsp;</TD>
	<TD width=9>
&nbsp;</TD>
	<TD width=287 nowrap align=left>
&nbsp;</TD>
	<TD width=9>
&nbsp;</TD>
	<TD width=321 nowrap align=left>
<FONT size=2 face="serif">President and Chief Executive Officer</FONT>&nbsp;
	</TD>
</TR>
</TABLE>
</P>
<BR>
<P>
<FONT size=2 face="serif"> Pursuant to the requirements of the Securities Act of 1933, Post-Effective Amendment No. 1 on Form S-8 to this Registration Statement on Form S-4 has been signed by the following persons in the capacities and on the dates
indicated. </FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0 width="626">
<TR valign="bottom">
	<TD width=31 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<u>
<FONT size=2 face="serif">/s/ Raymond P. Davis</FONT>&nbsp; </u>
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=209 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Raymond P. Davis, Director,</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Chief Executive Officer/President</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=9 width="624">
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<u>
<FONT size=2 face="serif">/s/ Ronald L. Farnsworth</FONT>&nbsp; </u>
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=209 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Ronald L. Farnsworth, Senior Vice President</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Principal Accounting Officer</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=9 width="624">
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<u>
<FONT size=2 face="serif">/s/ Daniel A. Sullivan</FONT>&nbsp; </u>
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=209 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Daniel A. Sullivan, Executive Vice President</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Chief Financial Officer</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=9 width="624">
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=209 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Ronald F. Angell, Director</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=9 width="624">
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=209 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Scott D. Chambers, Director</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=9 width="624">
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=209 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Allyn C. Ford, Director</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=9 width="624">
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=209 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">David B. Frohnmayer, Director</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=9 width="624">
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=209 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Stephen Gambee, Director</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=9 width="624">
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=209 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Dan Giustina, Director</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=9 width="624">
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=209 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=356 nowrap align=left>
<FONT size=2 face="serif">Diana E. Goldschmidt, Director</FONT>&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=143 nowrap align=left>
&nbsp;
	</TD>
	<TD width=11>
&nbsp;	</TD>
	<TD width=18 nowrap align=left>
&nbsp;
	</TD>
	<TD width=12>
&nbsp;	</TD>
	<TD width=25 nowrap align=left>
&nbsp;
	</TD>
</TR>
</TABLE><BR>
<P align="center">
<FONT face="serif">5</FONT></P>

<HR noshade align="center" width="100%" size=2>

<!--$$/page=-->
<A name="page_8"></A>

<TABLE border=0 cellspacing=1 cellpadding=0 width="604">
<TR valign="bottom">
	<TD width=21 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap align=left colspan="3">
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=186 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=21 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap colspan=3 align=left>
<FONT size=2 face="serif">Lynn K. Herbert, Director</FONT>&nbsp;
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=96 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=13 nowrap align=left>
&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=56 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=11 width="487">
&nbsp;
	</TD>
</TR>
<tr>
	<TD width=21 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap align=left colspan="3">
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=186 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
	</tr>
<TR valign="bottom">
	<TD width=21 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap colspan=3 align=left>
<FONT size=2 face="serif">William Lansing, Director</FONT>&nbsp;
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=96 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=13 nowrap align=left>
&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=56 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=11 width="487">
&nbsp;
	</TD>
</TR>
<tr>
	<TD width=21 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap align=left colspan="3">
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=186 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
	</tr>
<TR valign="bottom">
	<TD width=21 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap colspan=3 align=left>
<FONT size=2 face="serif">Theodore S. Mason, Director</FONT>&nbsp;
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=96 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=13 nowrap align=left>
&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=56 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=11 width="487">
&nbsp;
	</TD>
</TR>
<tr>
	<TD width=21 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap align=left colspan="3">
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=186 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
	</tr>
<TR valign="bottom">
	<TD width=21 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap colspan=3 align=left>
<FONT size=2 face="serif">Diane D. Miller, Director</FONT>&nbsp;
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=96 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=13 nowrap align=left>
&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=56 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=11 width="487">
&nbsp;
	</TD>
</TR>
<tr>
	<TD width=21 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap align=left colspan="3">
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=186 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
	</tr>
<TR valign="bottom">
	<TD width=21 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap colspan=3 align=left>
<FONT size=2 face="serif">Bryan L. Timm, Director</FONT>&nbsp;
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=96 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=13 nowrap align=left>
&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=56 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=11 width="487">
&nbsp;
	</TD>
</TR>
<tr>
	<TD width=21 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap align=left colspan="3">
<u>
<FONT size=2 face="serif">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>&nbsp;
</u>
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=186 nowrap align=left colspan="5">
<FONT size=2 face="serif">Date: June</FONT>
<FONT size=2 face="serif">15,</FONT>
<FONT size=2 face="serif">2006</FONT>&nbsp;
	</TD>
	</tr>
<TR valign="bottom">
	<TD width=21 nowrap align=left>
&nbsp;</TD>
	<TD width=8>
&nbsp;</TD>
	<TD width=31 nowrap align=left>
&nbsp;</TD>
	<TD width=8>
&nbsp;</TD>
	<TD width=215 nowrap align=left>
&nbsp;</TD>
	<TD width=127>
&nbsp;</TD>
	<TD width=96 nowrap align=left>
&nbsp;</TD>
	<TD width=8>
&nbsp;</TD>
	<TD width=13 nowrap align=left>
&nbsp;</TD>
	<TD width=9>
&nbsp;</TD>
	<TD width=56 nowrap align=left>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD width=21 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=256 nowrap colspan=3 align=left>
<FONT size=2 face="serif">Thomas W. Weborg, Director</FONT>&nbsp;
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=96 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=13 nowrap align=left>
&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=56 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=11 width="487">
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=11 width="487">
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=21 nowrap align=left>
<FONT size=2 face="serif">*</FONT>&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=31 nowrap align=left>
<FONT size=2 face="serif">By:</FONT>&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=215 nowrap align=right>
<p align="left"><u>
<FONT size=2 face="serif">/s/ Raymond P. Davis</FONT>&nbsp; </u>
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=96 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=13 nowrap align=left>
&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=56 nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=21 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=31 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=215 nowrap align=right>
<p align="left">
<FONT size=2 face="serif">Raymond P. Davis, Attorney-in-Fact</FONT>&nbsp;
	</TD>
	<TD width=127>
&nbsp;	</TD>
	<TD width=96 nowrap align=left>
&nbsp;
	</TD>
	<TD width=8>
&nbsp;	</TD>
	<TD width=13 nowrap align=left>
&nbsp;
	</TD>
	<TD width=9>
&nbsp;	</TD>
	<TD width=56 nowrap align=left>
&nbsp;
	</TD>
</TR>
</TABLE><BR>
<P align="center">
<FONT face="serif">6</FONT></P>

<HR noshade align="center" width="100%" size=2>

<!--$$/page=-->
<A name="page_9"></A>

<P align="center">
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">EXHIBIT INDEX</FONT></B><BR>
</TD></TR></TABLE>
</P>
<TABLE><TR><TD nowrap>
<B><FONT size=2 face="serif">Exhibits</FONT></B><BR>
</TD></TR></TABLE>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">4.1</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif">Western Sierra National Bank 1989 Stock Option Plan (incorporated by reference to Exhibit 10.10 to Western Sierra Bancorp's Registration Statement on Form S-4 (No. 333- 66675) filed November 2, 1998 (Film No.
98736498))</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">4.2</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif">Western Sierra Bancorp 1997 Stock Option Plan (incorporated by reference to Exhibit</FONT>
<FONT size=2 face="serif">10.11 to Western Sierra Bancorp's Registration Statement on Form S-4 (No. 333-66675)</FONT>
<FONT size=2 face="serif">filed November 2, 1998 (Film No. 98736498))</FONT></TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">4.3</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif">Western Sierra Bancorp 1999 Stock Option Plan (incorporated by reference to Exhibit</FONT>
<FONT size=2 face="serif">99.3 to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333-86653) filed September 7, 1999 (Film No. 99706921))</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">4.4</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif">Western Sierra Bancorp 2004 Stock Option Plan (incorporated by reference to Exhibit A to Western Sierra Bancorp's Schedule 14A filed on April 1, 2004 (Film No. 04708872))</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">4.5</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif">Sentinel Community Bank 1999 Stock Option Plan (incorporated by reference to Exhibit</FONT>
<FONT size=2 face="serif">99.4</FONT>
<FONT size=2 face="serif">to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333-50476)</FONT>
<FONT size=2 face="serif">to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333-50476)</FONT>&nbsp;	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">4.6</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif">Auburn Community Bancorp 2003 Stock Option Plan (incorporated by reference to Exhibit 99.1 to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333- 111745) filed January 7, 2004 (Film No.
04512772))</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif"><a href="s8uhc061606ex51.htm">5.1</a></FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif"><a href="s8uhc061606ex51.htm">Opinion of Foster Pepper Tooze LLP</a></FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif"><a href="s8uhc061606ex231.htm">23.1</a></FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif"><a href="s8uhc061606ex231.htm">Consent of Deloitte &amp; Touche LLP</a></FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif"><a href="s8uhc061606ex232.htm">23.2</a></FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<a href="s8uhc061606ex232.htm">
<FONT size=2 face="serif">Consent of Moss Adams LLP</FONT> </a>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">23.3</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif">Consent of Foster Pepper Tooze LLP (included in Exhibit 5.1)</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">24</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT size=2 face="serif">Power of Attorney (contained on signature page to Umpqua's registration statement on Form S-4 filed March 15, 2006, to which this post-effective amendment on Form S-8 relates)</FONT>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="center">
<FONT face="serif">7</FONT></P>

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[{"type": "S-8", "sequence": "1", "filename": "s8uhc061606.htm", "description": "FORM S-8", "secsgml_size_bytes": 61931}]
{"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": "333-135071", "film-number": "06909061"}, "business-address": {"street1": "ONE SW COLUMBIA STREET", "street2": "SUITE 1200", "city": "PORTLAND", "state": "OR", "zip": "97258", "phone": "971-544-1085"}, "mail-address": {"street1": "ONE SW COLUMBIA STREET", "street2": "SUITE 1200", "city": "PORTLAND", "state": "OR", "zip": "97258"}}
-- Converted by SECPublisher 3.1.0.1, created by BCL Technologies Inc., for SEC Filing
As filed with the Securities and Exchange Commission on June 16, 2006
Registration No. 333-132453
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
POST EFFECTIVE AMENDMENT NO. 1
TO FORM S-4
ON
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
UMPQUA HOLDINGS CORPORATION
(Exact name of registrant as specified in its
charter)
Oregon
6022
93-1261319
(
State of Incorporation
)
(
Primary Standard Industrial
(
IRS Employer
Classification Code Number
)
Identification No.
)
One SW Columbia Street, Suite 1200, Portland, Oregon 97258
(503) 727-4100
(
Address of Principal Executive Offices
)
Western Sierra Bancorp 2004 Stock Option Plan
Western Sierra Bancorp 1999 Stock Option Plan
Western Sierra Bancorp 1997 Stock Option Plan
Auburn Community Bancorp 2003 Stock Option Plan
Sentinel Community Bank 1999 Stock Option Plan
Western Sierra National Bank 1989 Stock Option Plan
(
Full title of the plans
)
Steven L. Philpott, Executive Vice President, General Counsel and Secretary
Umpqua Holdings Corporation
675 Oak Street, Suite 200; PO Box 1560
Eugene, Oregon 97440
(541) 434-2997
(
Name,
Address and Telephone Number of Agent for Service
)
With a Copy to:
Andrew H. Ognall, Esq.
Foster Pepper Tooze LLP
601 SW Second Avenue, Suite 1800
Portland, Oregon 97204
(503) 221-0607
As filed with the Securities and Exchange Commission on June 16, 2006
Registration No. 333-132453
CALCULATION OF REGISTRATION FEE
Title of Each Class of
Amount to be Registered
(1)
Proposed Maximum
Proposed Maximum
Amount of
Securities to be Registered
Offering Price per Unit
Aggregate Offering Price
Registration Fee
Common Stock, no par
19,212
(3)
N/A
(2)
N/A
(2)
N/A
(2)
value
1,738
(4)
231,357
(5)
14,369
(6)
27,706
(7)
429,036
(8)
TOTAL
723,418
(1)
Umpqua Holdings Corporation originally registered 13,600,000 shares of its common stock on the Registration Statement on Form S-4 to which this post-effective amendment relates. Umpqua will issue approximately 12,746,205
shares to shareholders of Western Sierra Bancorp in exchange for shares of Western Sierra Bancorp common stock.
(2)
Umpqua paid all filing fees payable in connection with the registration of these securities with the filing of the Registration Statement on Form S-4 filed on March 15, 2006, amended April 13, 2006, and declared effective
April 18, 2006.
(3)
Approximate number of shares subject to options outstanding under the Auburn Community Bancorp 2003 Stock Option Plan.
(4)
Approximate number of shares subject to options outstanding under the Sentinel Community Bank 1999 Stock Option Plan.
(5)
Approximate number of shares subject to options outstanding under the Western Sierra Bancorp 2004 Stock Option Plan.
(6)
Approximate number of shares subject to options outstanding under the Western Sierra National Bank 1989 Stock Option Plan.
(7)
Approximate number of shares subject to options outstanding under the Western Sierra Bancorp 1997 Stock Option Plan.
(8)
Approximate number of shares subject to options outstanding under the Western Sierra Bancorp 1999 Stock Option Plan.
INTRODUCTORY STATEMENT
On June 2, 2006, Western Sierra Bancorp merged with and into Umpqua Holdings Corporation, with Umpqua the surviving corporation. As a result of the merger, each outstanding share of Western Sierra Bancorp common stock was
converted into the right to receive 1.61 shares of Umpqua Holdings Corporation common stock.
Each outstanding stock option issued pursuant to the Western Sierra Bancorp 2004 Stock Option Plan, Western Sierra Bancorp 1999 Stock Option Plan, Western Sierra Bancorp 1997 Stock Option Plan, Auburn Community Bancorp
2003 Stock Option Plan, Sentinel Community Bank 1999 Stock Option Plan and Western Sierra National Bank 1989 Stock Option Plan (the "Western Sierra Plans") is no longer exercisable for shares of Western Sierra Bancorp common stock, but instead,
constitutes an option to acquire, on the same terms and conditions as were applicable under such option immediately prior to consummation of the merger, that number of shares of Umpqua Holdings Corporation common stock equal to the product of the
number of shares of Western Sierra Bancorp common stock for which such option was exercisable and 1.61. The exercise price for each option shall be the quotient obtained by dividing the exercise price per share for such option immediately prior to
the effective time of the merger by 1.61.
Umpqua Holdings Corporation has assumed the obligations of Western Sierra Bancorp under the Umpqua assumed the obligations of Humboldt under the Western Sierra Plans. The purpose of this post-effective amendment is to
register on Form S-8 shares of Umpqua common stock previously registered on Form S-4 that will be issued pursuant to the exercise of options originally granted under the Western Sierra Plans.
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 3. Incorporation of Documents by Reference.
The following documents are incorporated by reference in this registration statement
(a)
Umpqua's annual report on Form 10-K for the year ended December 31, 2005.
(b)
Umpqua's quarterly report on Form 10-Q for the quarter ended March 31, 2006 and Umpqua's current reports on Form 8-K filed pursuant to Section 13(a) of the Securities Exchange Act of 1934 since December 31,
2005.
(c)
The description of the registrant's common stock contained in the registrant's registration statement on Form S-4/A filed April 13, 2006 and declared effective April 18, 2006.
All documents subsequently filed by the registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment
which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in the registration statement and to be part thereof from the date of filing of
such documents.
Item 4. Description of Securities.
Not applicable.
1
Item 5. Interests of Named Experts and Counsel.
Foster Pepper Tooze LLP, special counsel to the registrant, is passing upon the validity of the common stock being registered. A partner of Foster Pepper Tooze LLP participating in the preparation of this Registration
Statement owns 10,000 shares of common stock.
Item 6. Indemnification of Directors and Officers.
As an Oregon corporation, Umpqua is subject to the provisions of the Oregon Business Corporation Act (the "OBCA"). The OBCA permits a corporation to indemnify an individual who is made a party to a proceeding because such
individual is or was a director of the corporation against liability incurred in the proceeding if:
His or her conduct was in good faith;
He or she reasonably believed that his or her conduct was in the corporation's best interest, or
at least not opposed to the corporation's best interests; and
In the case of a criminal proceeding, he or she had no reasonable cause to believe his or her
conduct was unlawful.
Unless a corporation's articles of incorporation provide otherwise, indemnification is mandatory if the director is wholly successful on the merits or otherwise in such a proceeding, or if a court of competent jurisdiction
orders the corporation to indemnify the director. Umpqua's articles of incorporation do not limit the statutory right to indemnification.
Under the OBCA, a corporation may not, however, indemnify the individual if the individual was adjudged liable:
to the corporation in a proceeding by or in the right of the corporation; or
in any proceeding charging improper personal benefit on the basis that he or she improperly
received a personal benefit.
The OBCA 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:
any breach of the directors' duty of loyalty to the corporation or its shareholders;
acts or omissions not in good faith or which involve intentional misconduct or a knowing
violation of law;
any unlawful distribution; or
any transaction from which the director derived an improper personal benefit.
Umpqua's articles of incorporation provide that we will indemnify our directors and officers against reasonable expenses (including attorney fees), judgments, fines, penalties, excise taxes or settlement payments incurred
or suffered by reason of service as a director or officer or at Umpqua's request as a director, officer, partner or trustee of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.
Umpqua's articles of incorporation limit monetary liability of our directors for their conduct as directors to the fullest extent permitted under the OBCA. If the OBCA is amended to further limit the directors' liability,
Umpqua's articles would incorporate such amendment on its effective date.
2
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
The exhibits required by Item 601 of Regulation S-K filed herewith or incorporated by reference are as follows:
Exhibits
4.1
Western Sierra National Bank 1989 Stock Option Plan (incorporated by reference to Exhibit 10.10 to Western Sierra Bancorp's Registration Statement on Form S-4 (No. 333- 66675) filed November 2, 1998 (Film No.
98736498))
4.2
Western Sierra Bancorp 1997 Stock Option Plan (incorporated by reference to Exhibit
10.11to Western Sierra Bancorp's Registration Statement on Form S-4 (No. 333-66675)
filed November 2, 1998 (Film No. 98736498))
4.3
Western Sierra Bancorp 1999 Stock Option Plan (incorporated by reference to Exhibit
99.3
to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333-86653) filed September 7, 1999 (Film No. 99706921))
4.4
Western Sierra Bancorp 2004 Stock Option Plan (incorporated by reference to Exhibit A to Western Sierra Bancorp's Schedule 14A filed on April 1, 2004 (Film No. 04708872))
4.5
Sentinel Community Bank 1999 Stock Option Plan (incorporated by reference to Exhibit
99.4 to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333-50476)
filed November 22, 2000 (Film No. 775454))
4.6
Auburn Community Bancorp 2003 Stock Option Plan (incorporated by reference to Exhibit 99.1 to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333- 111745) filed January 7, 2004 (Film No.
04512772))
5.1
Opinion of Foster Pepper Tooze LLP
23.1
Consent of Deloitte & Touche LLP
23.2
Consent of Moss Adams LLP
23.3
Consent of Foster Pepper Tooze LLP (included in Exhibit 5.1)
24
Power of Attorney (contained on signature page to Umpqua's registration statement on Form S-4 filed March 15, 2006, to which this post-effective amendment on Form S-8 relates)
Item 9. Undertakings
The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement to include any material information with respect to the plan
of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933, 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.
3
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) 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.
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or controlling persons of the registrant pursuant to the foregoing provisions, 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
payment by the registrant of expenses incurred or paid by a director, officer or controlling person of such registrant in the successful defense of any action, suit or proceeding) 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.
4
SIGNATURES
Pursuant to the requirements of the Securities Act, the registrant has duly caused this Post-Effective Amendment No. 1 on Form S-8 to the registrant's registration statement on Form S-4 to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Portland, State of Oregon, on June 15, 2006.
UMPQUA HOLDINGS CORPORATION
By:
/s/ Raymond P. Davis
Raymond P. Davis
President and Chief Executive Officer
Pursuant to the requirements of the Securities Act of 1933, Post-Effective Amendment No. 1 on Form S-8 to this Registration Statement on Form S-4 has been signed by the following persons in the capacities and on the dates
indicated.
By:
/s/ Raymond P. Davis
Date: June
15,
2006
Raymond P. Davis, Director,
Chief Executive Officer/President
By:
/s/ Ronald L. Farnsworth
Date: June
15,
2006
Ronald L. Farnsworth, Senior Vice President
Principal Accounting Officer
By:
/s/ Daniel A. Sullivan
Date: June
15,
2006
Daniel A. Sullivan, Executive Vice President
Chief Financial Officer
By:
*
Date: June
15,
2006
Ronald F. Angell, Director
By:
*
Date: June
15,
2006
Scott D. Chambers, Director
By:
*
Date: June
15,
2006
Allyn C. Ford, Director
By:
*
Date: June
15,
2006
David B. Frohnmayer, Director
By:
*
Date: June
15,
2006
Stephen Gambee, Director
By:
*
Date: June
15,
2006
Dan Giustina, Director
By:
*
Date: June
15,
2006
Diana E. Goldschmidt, Director
5
By:
*
Date: June
15,
2006
Lynn K. Herbert, Director
By:
*
Date: June
15,
2006
William Lansing, Director
By:
*
Date: June
15,
2006
Theodore S. Mason, Director
By:
*
Date: June
15,
2006
Diane D. Miller, Director
By:
*
Date: June
15,
2006
Bryan L. Timm, Director
By:
*
Date: June
15,
2006
Thomas W. Weborg, Director
*
By:
/s/ Raymond P. Davis
Raymond P. Davis, Attorney-in-Fact
6
EXHIBIT INDEX
Exhibits
4.1
Western Sierra National Bank 1989 Stock Option Plan (incorporated by reference to Exhibit 10.10 to Western Sierra Bancorp's Registration Statement on Form S-4 (No. 333- 66675) filed November 2, 1998 (Film No.
98736498))
4.2
Western Sierra Bancorp 1997 Stock Option Plan (incorporated by reference to Exhibit
10.11 to Western Sierra Bancorp's Registration Statement on Form S-4 (No. 333-66675)
filed November 2, 1998 (Film No. 98736498))
4.3
Western Sierra Bancorp 1999 Stock Option Plan (incorporated by reference to Exhibit
99.3 to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333-86653) filed September 7, 1999 (Film No. 99706921))
4.4
Western Sierra Bancorp 2004 Stock Option Plan (incorporated by reference to Exhibit A to Western Sierra Bancorp's Schedule 14A filed on April 1, 2004 (Film No. 04708872))
4.5
Sentinel Community Bank 1999 Stock Option Plan (incorporated by reference to Exhibit
99.4
to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333-50476)
to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333-50476)
4.6
Auburn Community Bancorp 2003 Stock Option Plan (incorporated by reference to Exhibit 99.1 to Western Sierra Bancorp's Registration Statement on Form S-8 (No. 333- 111745) filed January 7, 2004 (Film No.
04512772))
5.1
Opinion of Foster Pepper Tooze LLP
23.1
Consent of Deloitte & Touche LLP
23.2
Consent of Moss Adams LLP
23.3
Consent of Foster Pepper Tooze LLP (included in Exhibit 5.1)
24
Power of Attorney (contained on signature page to Umpqua's registration statement on Form S-4 filed March 15, 2006, to which this post-effective amendment on Form S-8 relates)
7