Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
DAVIS RAYMOND P
   2. Issuer Name and Ticker or Trading Symbol
UMPQUA HOLDINGS CORP [UMPQ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President & CEO
(Last)
(First)
(Middle)
ONE SW COLUMBIA STREET, SUITE 1200		 3. Date of Earliest Transaction (Month/Day/Year)
04/01/2009
(Street)

PORTLAND, OR 97258		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/05/2010   A   23,000 (1) A $ 0 204,221 D  
Common Stock 02/08/2010   J   113 A (2) 5,969 (3) I by 401(k)
Common Stock 02/08/2010   J   114 A (2) 6,236 (4) I by SRP Plan
Common Stock               2,955 I by IRA

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $ 12 04/01/2009   J     50,000 03/31/1999 04/01/2009(5) Common Stock 50,000 $ 0 (2) 0 D  
Non-Qualified Stock Option (right to buy) $ 9.23             02/02/2010(6) 02/01/2019 Common Stock 50,000   50,000 D  
Non-Qualified Stock Option (right to buy) $ 11.59             07/21/2009(7) 07/20/2018 Common Stock 50,000   50,000 D  
Non-Qualified Stock Option (right to buy) $ 13.34             01/01/2003(8) 01/02/2012 Common Stock 50,000   50,000 D  
Non-Qualified Stock Option (right to buy) $ 15.5             01/28/2009(9) 01/27/2018 Common Stock 100,000   100,000 D  
Non-Qualified Stock Option (right to buy) $ 18.58             06/30/2010(10) 06/30/2013 Common Stock 75,000   75,000 D  
Non-Qualified Stock Option (right to buy) $ 19.31             04/27/2004(8) 04/27/2013 Common Stock 75,000   75,000 D  
Non-Qualified Stock Option (right to buy) $ 24.71             01/03/2006(8) 01/03/2015 Common Stock 75,000   75,000 D  
Non-Qualified Stock Option (right to buy) $ 26.12             12/31/2007(8) 03/05/2017 Common Stock 50,000   50,000 D  
Non-Qualified Stock Option (right to buy) $ 28.425             01/18/2007(11) 01/17/2016 Common Stock 25,000   25,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DAVIS RAYMOND P
ONE SW COLUMBIA STREET, SUITE 1200
PORTLAND, OR 97258		   X     President & CEO  

Signatures

 By: Steven L. Philpott, Attorney in Fact For: Raymond P. Davis   02/08/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Restricted stock grant pursuant to 2003 Stock Incentive Plan, exempt under Rule 16b-3.
(2) Not required.
(3) Holdings reported include shares acquired in the 401(k)/Profit Sharing plan through dividend reinvestment, payroll deferrals and/or employer contributions.
(4) Holdings reported on this Form include shares acquired pursuant to a dividend reinvestment plan for this account.
(5) All shares expired.
(6) Option granted 2/02/09. Beginning on the first anniversary of the grant date, the options vest at 30% per year for the first two years and 20% for the third and fourth years.
(7) Option granted 7/21/08. Beginning on the first anniversary of the grant date, the options vest at 30% per year for the first two years and 20% for the third and fourth years.
(8) All options are fully vested.
(9) Option granted 1/28/08. Beginning on the first anniversary of the grant date, the options vest at 30% per year for the first two years and 20% for the third and fourth years.
(10) Option granted 7/1/03. Seven years after grant date, the option vests 100%.
(11) Option granted 1/18/06. Beginning on the first anniversary of the grant date, the options vest at 30% per year for the first two years and 20% for the third and fourth years.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.