Umpqua Holdings Corporation

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Umpqua Holdings Corporation
Industry Commercial Banks
Founded Canyonville, Oregon, United States (1953)
Headquarters Portland, Oregon, United States
45°30′47″N 122°40′31″W / 45.51306°N 122.67528°W / 45.51306; -122.67528Coordinates: 45°30′47″N 122°40′31″W / 45.51306°N 122.67528°W / 45.51306; -122.67528
Number of locations
Key people
Ray Davis, CEO
Peggy Fowler, Chair
Cort O'Haver, President
Products Checking Accounts
Savings Accounts
Mortgage Loan
Personal Investing
Private Bank
Business Loans
Treasury Management
Merchant Services
Revenue Increase US$871.6 million (2015)
Increase US$253.3 million (2015)
Increase US$222.5 million (2015)
Number of employees
4,491 (December 31, 2015)

Umpqua Holdings Corporation, d.b.a. Umpqua Bank, is a financial holding company based in downtown Portland, Oregon, United States. Headquarters are in the Umpqua Bank Plaza, formerly the headquarters of the Benj. Franklin Savings and Loan. The firm has three principal operating subsidiaries, Umpqua Bank (the Bank), and Umpqua Investments, formerly Strand, Atkinson, Williams and York (Investments) and Pivotus Ventures.

The company’s main operating segments are personal banking and lending, business banking and lending, and wealth management. The bank primarily serves consumers and businesses in the community.[1] As of 2015, Umpqua Bank had $24 billion in assets and $18 billion in deposits and was ranked among the largest 60 banks in the nation.[2] Its parent company, Umpqua Holdings, is publicly traded.[1] As of 2016, Umpqua Bank was the largest Oregon-based bank, and had 350 branches in Oregon, Washington, California, Nevada and Idaho.)[3][4]


Company headquarters in Portland

South Umpqua State Bank was formed in 1953 in Canyonville, Oregon, with six employees. It was started by a group of people working in the timber-logging business who wanted to create a means for their loggers to cash their payroll checks. The bank acquired Centennial Bancorp of Eugene, Oregon, in 2002 for $214 million.[5] With that deal, Umpqua increased the number of branches to 63.[5]The bank opened with capital of $50,000 and surplus and reserves of $25,000.[6] The bank’s first savings account was opened by Pete Duchene, a local business agent. D.B. “Tex” Ritter and his wife Nadine opened the first commercial account for their South Umpqua Trucking Company.[7]

On January 16, 2009, Umpqua agreed to assume the deposits of Vancouver, Washington-based Bank of Clark County after the latter bank was seized by the Office of the Comptroller of the Currency.[8] Umpqua agreed to assume the deposits of Seattle, Washington-based Evergreen Bank in January 2010 after the latter was closed by the Washington Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC) was appointed receiver.[9] A month later the company agreed to take over the deposits of Tacoma, Washington-based Rainier Pacific Bank, after it was seized by the FDIC.[10] The next month, Umpqua acquired the banking operations of Rainier Pacific Bank in a purchase agreement with the Federal Deposit Insurance Corporation.[11]

Umpqua continued with acquisitions in 2012 when they attempted to buy California based American Perspective Bank for $44.7 million, which would have added two branches to Umpqua's then 196 branches.[12] The deal fell through, however, when Umpqua was outbid, though American Perspective paid Umpqua a $1.6 million fee to terminate the deal.[13] Umpqua had been expanding into the San Francisco Bay Area,[4] and closed a $24.9 million deal to buy Bay area-based Circle Bancorp in November 2012.[14]

In September 2013, it announced it would buy Sterling Financial Corporation, parent of Sterling Bank, the second largest bank in Washington.[15] The $2 billion deal closed in April 2014 and increased the number of bank branches to 394 and increase assets to $22 billion.[15]


Umpqua Bank has enjoyed some notability in the 21st century for its setup of bank branches. Traditionally, bank branches house back-office operations and administrators, along with secure deposit areas. Umpqua Bank's branches are called 'stores', with a greater emphasis on retail operations and atmosphere than traditional bank branches.[16]

Umpqua Bank stores also have a relatively flat administrative hierarchy. Bank stores consist of only one Store Manager, with all other employees being referred to as 'Universal Associates'. The execution of this concept was billed as removing the "that's not my department" thinking of employees and empowering all associates with the ability to work in all areas of a traditionally specialized banking industry.[17]

See also[edit]


  1. ^ a b Pender, Kathleen. “Umpqua Bank aims to be part of S.F. community.” SFGate. Aug. 28, 2013
  2. ^ Securities and Exchange Commission Form 10-k. Commission File number 001-34624
  3. ^ Kish, Matthew (July 21, 2011). "Umpqua profits climb, beat estimates". Portland Business Journal. Retrieved 23 July 2011. 
  4. ^ a b Calvey, Mark (December 23, 2011). "Umpqua Bank ramps up its Bay Area focus". Portland Business Journal. Retrieved 11 April 2012. 
  5. ^ a b "Umpqua Bank completes Centennial deal". Portland Business Journal. November 18, 2002. Retrieved 9 September 2012. 
  6. ^ New South Umpqua State Bank Holds Open House. Myrtle Creek Mail
  7. ^ The Douglas Fir. November 13, 1953.
  8. ^ "Failed bank information (FDIC), Bank of Clark County". Retrieved 2012-03-30. 
  9. ^ "Failed bank information (FDIC), Evergreen Bank". Retrieved 2012-03-30. 
  10. ^ "Failed bank information (FDIC), Rainier Pacific Bank". Retrieved 2012-03-30. 
  11. ^ "Umpqua Bank acquires Rainier Pacific Bank". 4 March 2010. Retrieved 4 March 2010. [dead link]
  12. ^ Stevens, Suzanne (April 10, 2012). "Umpqua pays $44.7M for American Perspective Bank". Portland Business Journal. Retrieved April 10, 2012. 
  13. ^ Stevens, Suzanne (May 1, 2012). "PacWest outbids Umpqua for American Perspective Bank". Portland Business Journal. Retrieved May 1, 2012. 
  14. ^ Kish, Matthew (November 15, 2012). "Umpqua acquisition of Circle Bank closes". Portland Business Journal. Retrieved 15 November 2012. 
  15. ^ a b Kish, Matthew (September 11, 2013). "It's official: Umpqua to buy Sterling Bank for $2B". Portland Business Journal. Retrieved 12 September 2013. 
  16. ^ "Design and Economic Development at Umpqua Bank: An Interview with Ray Davis". Design Management Review. 2004. 
  17. ^ [1] Archived October 7, 2006, at the Wayback Machine.