Umpqua Holdings Corp., of Portland, announced this morning that it has received all regulatory approvals for its proposed acquisition of Spokane-based Sterling Financial Corp., the parent company of Sterling Bank.

The regulatory nod follows previously announced approvals by both Umpqua and Sterling shareholders, which occurred in late February.

Umpqua said in a press release that the transaction, with a total value of $2 billion, is scheduled to be completed April 18. The company will continue to operate as Umpqua Holdings, with banking operations being conducted under the Umpqua Bank brand.

As previously reported, the combined organization will have about $22 billion in assets, $15 billion in loans, and $16 billion in deposits. In all, it will have about 5,000 employees and 394 locations in five states: Washington, Oregon, Idaho, California, and Nevada.