Umpqua Holdings (NASDAQ:UMPQ) has signed an agreement to acquire a new business for the portfolio of its flagship unit, Umpqua Bank.

The company announced today that it has signed a definitive agreement to acquire Financial Pacific Holding, which operates Financial Pacific Leasing. The latter provides "business-essential commercial equipment leases and loans to various industries throughout the United States."

The purchase price is $158 million in cash, and the seller is private equity company Flexpoint Ford. When completed, Financial Pacific Holding will become a subsidiary of Umpqua Bank.

Umpqua Holdings expects its new asset to boost operating EPS by 14% in its first full year of operation. The company also expects an "immediate" accretion of roughly 35 basis points to the company's net interest margin.

Financial Pacific Holding Corp. had total assets of $279 million as of April 30, with tangible equity of $57 million expected at close. According tot he companies, Financial Pacific’s average lease is approximately $25,000, and its portfolio is comprised of "a diverse set of equipment types, including vehicles/trailers, medical equipment, computer systems, restaurant equipment and construction equipment."