Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ:UMPQ), will be consolidating 26 store locations later this year. Consolidations will begin in June and continue through the summer of 2016. Umpqua has notified all customers affected by these consolidations, and will be automatically transferring customer accounts to the most convenient store.
“Today, customers can bank online and on their mobile devices – and convenience is defined not by bank locations but by an integrated mix of physical and digital options that make it possible for customers to bank when and where they choose,” said Greg Seibly, Umpqua Bank’s president of consumer banking. “These store consolidations reflect those changes in customer behavior and allow Umpqua to continue operating as efficiently as possible while investing in a unified physical and digital customer experience.”
Known for its innovative delivery and store concept, in recent years Umpqua has expanded its focus on building a cross-channel customer experience with increased investment in digital and mobile tools that complement the physical channel.
About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and has locations across Idaho, Washington, Oregon, California and Northern Nevada. Umpqua Bank has been acknowledged for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for eight years in a row on FORTUNE magazine’s list of the country’s “100 Best Companies to Work For,” and was recently named by The Portland Business Journal the Most Admired Financial Services Company in Oregon for the eleventh consecutive year. In addition to its retail banking presence, Umpqua Bank owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to small businesses.
Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments, Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon. Umpqua’s Wealth Management Division serves high net worth individuals and nonprofits by providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com.
Sarah Robinson, 503-219-6124