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Umpqua Holdings Corporation, d.b.a. Umpqua Bank, is a financial holding company based in downtown Portland,
“Umpqua Bank aims to be part of S.F. community.”
SFGate. Aug. 28, 2013 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.Securities and Exchange Commission Form 10-k. Commission File number 001-34624 Its parent company, Umpqua Holdings, is publicly traded. As of 2016, Umpqua Bank was the largest Oregon-based bank and had 350 branches in Oregon, Washington, California, Nevada and Idaho. In October 2021, Umpqua announced it was merging with Tacoma-based Columbia Bank. Columbia Bank branches would transition to the Umpqua name and branding. The combined company would be based in Tacoma, with the bank operational headquarters based in the Portland area.
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 business who wanted to create a means for the employees to cash their payroll checks. The bank opened with capital of $50,000 and surplus and reserves of $25,000.New South Umpqua State Bank Holds Open House. Myrtle Creek Mail 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.
In 2002, Umpqua increased its number of branches to 63 by acquiring Centennial Bancorp of Eugene, Oregon, for $214 million. 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 
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. The deal fell through, however, when Umpqua was outbid; American Perspective paid Umpqua a $1.6 million fee to terminate the deal. Umpqua had been expanding into the
Bloomberg Profile In 2007, Davis authored a book titled ''Leading for Growth: How Umpqua Bank Got Cool and Created a Culture of Greatness''. Cort O’Haver became President in April 2016, with Davis retaining the role of CEO. Davis stepped down as CEO in January 2017. O’Haver took over as CEO at that point while Davis became executive chair of the bank's board and continued to oversee Pivotus Ventures Inc. until his formal retirement, which was announced In late December 2017 and effective January 2, 2018.
Oregon
Oregon () is a state in the Pacific Northwest region of the Western United States. The Columbia River delineates much of Oregon's northern boundary with Washington, while the Snake River delineates much of its eastern boundary with Idaho. T ...
, United States. Headquarters are in the Umpqua Bank Plaza, formerly the headquarters of Benj. Franklin Savings and Loan
Benj. Franklin Savings and Loan was a Savings and loan association, thrift based in Portland, Oregon, Portland, in the U.S. state of Oregon. Founded in 1925, the company was seized by the United States Government in 1990. In 1996 the United States ...
. The firm has two principal operating subsidiaries: Umpqua Bank (the Bank) and Umpqua Investments (formerly Strand, Atkinson, Williams and York (Investments)).
The company’s main operating segments are personal banking and lending, business banking and lending, and wealth management. The bank serves consumers and businesses in the community.Pender, Kathleen“Umpqua Bank aims to be part of S.F. community.”
SFGate. Aug. 28, 2013 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.Securities and Exchange Commission Form 10-k. Commission File number 001-34624 Its parent company, Umpqua Holdings, is publicly traded. As of 2016, Umpqua Bank was the largest Oregon-based bank and had 350 branches in Oregon, Washington, California, Nevada and Idaho. In October 2021, Umpqua announced it was merging with Tacoma-based Columbia Bank. Columbia Bank branches would transition to the Umpqua name and branding. The combined company would be based in Tacoma, with the bank operational headquarters based in the Portland area.
History
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 business who wanted to create a means for the employees to cash their payroll checks. The bank opened with capital of $50,000 and surplus and reserves of $25,000.New South Umpqua State Bank Holds Open House. Myrtle Creek Mail 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.
In 2002, Umpqua increased its number of branches to 63 by acquiring Centennial Bancorp of Eugene, Oregon, for $214 million. 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
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all natio ...
. 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
The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures cr ...
(FDIC) was appointed receiver. 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. The next month, Umpqua acquired the banking operations of Rainier Pacific Bank in a purchase agreement with the Federal Deposit Insurance Corporation.
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. The deal fell through, however, when Umpqua was outbid; American Perspective paid Umpqua a $1.6 million fee to terminate the deal. Umpqua had been expanding into the San Francisco Bay Area
The San Francisco Bay Area, often referred to as simply the Bay Area, is a populous region surrounding the San Francisco, San Pablo, and Suisun Bay estuaries in Northern California. The Bay Area is defined by the Association of Bay Area Go ...
and closed a $24.9 million deal to buy Bay Area-based Circle Bancorp in November 2012.
In September 2013, Umpqua announced it would buy Sterling Financial Corporation, parent of Sterling Bank, the second largest bank in Washington
Washington commonly refers to:
* Washington (state), United States
* Washington, D.C., the capital of the United States
** A metonym for the federal government of the United States
** Washington metropolitan area, the metropolitan area centered o ...
. The $2 billion deal closed in April 2014 and increased the number of bank branches to 394 and increased assets to $22 billion.
Former CEO and President of Umpqua Holdings Corporation Raymond Davis took over the local 40-person South Umpqua Bank in 1994. Davis became CEO and President of Umpqua Holdings in 1999.“Company Overview of Umpqua Bank.”Bloomberg Profile In 2007, Davis authored a book titled ''Leading for Growth: How Umpqua Bank Got Cool and Created a Culture of Greatness''. Cort O’Haver became President in April 2016, with Davis retaining the role of CEO. Davis stepped down as CEO in January 2017. O’Haver took over as CEO at that point while Davis became executive chair of the bank's board and continued to oversee Pivotus Ventures Inc. until his formal retirement, which was announced In late December 2017 and effective January 2, 2018.
See also
* List of companies based in OregonReferences
External links
{{Oregon Companies Companies based in Portland, Oregon American companies established in 1953 Banks established in 1953 Banks based in Oregon Companies formerly listed on the Nasdaq 1953 establishments in Oregon Announced mergers and acquisitions