American Perspective Bank selling for $45 million

April 10, 2012

San Luis Obispo headquartered American Perspective Bank announced today that it has signed a definitive agreement for sale to Portland-based Umpqua Bank for approximately $44.7 million.

Umpqua, the largest Oregon-based bank, expects to finalize the transaction in mid-2012, pending regulatory sanction and approval by the shareholders of American Perspective Bank. The combined organization will have about $11.8 billion in assets.

American Perspective Bank, which operates three branches in San Luis Obispo and Santa Barbara counties, reported $259 million in assets as of Dec. 31 and net earnings of $2.1 million in 2011. It was founded in October 2007 and has branches in San Luis Obispo, Paso Robles, and Santa Maria.

“Umpqua Bank is one of the most respected community banks in the country with a proven track record of integrating organizations so customers, employees and communities benefit,” said Tom Madden, chairman of American Perspective Bank’s board of directors. “We’re confident this merger will create long-term value for both organizations and our communities, while providing our customers with enhanced resources and expertise. Umpqua has asked the board of directors of American Perspective Bank to remain closely engaged in Umpqua’s operations in this region, and we look forward to working together.”

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Personally, I don’t think I could ever really be happy with myself if I felt that it was my professional duty to phrase anything in the manner in which Mr. Madden worded his disingenuous corporate-cliche-filled feel-good statement of B.S. But congratulations to him on mastering the art of meaningless fascist newspeak.

That quote is a great example of corporate nothing-speak but could have been even better if Madden had thrown in “synergies,” “win-win,” and “mindshare.”

Envy is oozing from your post. What’s the matter, incapable of turning a buck?

That is just a ridiculous comment. Not only have I chosen a path that does not require such B.S., but it has served me well financially.

Good point, mk. I’ve also made a pretty good living while avoiding language like “integrating organizations” “enhanced resources.”

Rubbish, there is no B.S. in their statement. You’re parroting the “evil corporation” narrative. There was nothing “disingenuous” in his statement. Then up pops the “fascist” remark with clearly shows your true nature. By the way, what path did you choose? Could it have something to do with taxpayer funding, or possibly a position in the bureaucracy?

No, I’m a financial systems developer and business process engineer. I have never collected a dime of money from the government, and the people I work with don’t have make statements like Mr. Madden did because they don’t need to convince anyone of the continued value of their product or service. And I make no apologies for my use fo the word fascist.

And by the way, my use of the word “fascist” does show my true nature, but it does not reveal me to be a liberal or a Democrat as you think. It means I don’t like partnerships between the government and business, because government shouldn’t choose the winners and losers and it creates a society of people worshiping at the feet of a system which tells people what to do and how to behave in ways that are truly inconsequential and/or counter-productive.

I’ve been to some of their branches and I think they’re pretty cool!

They don’t seem to be like the average bank. I’ve also heard they do some great stuff in communities where they have branches. I’ll be checking it out when I get a chance.

Ugh, that’s all we need is a bank in town named after an out-of-state Oregon indian tribe. Doesn’t fit the local.

It’s our job to “Californiacate” Oregon, not the other way around.