Business & Finance
Business and Finance
Business and Finance 
Thu, February 5, 2009
Umpqua Bank Introduces New Lending Initiatives
PORTLAND, Ore.--([ BUSINESS WIRE ])--[ Umpqua Bank ], a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), introduces several loan initiatives for individuals and businesses in the communities it serves. These new loan initiatives are meant to support community growth and stimulate local economies by augmenting Umpqua's full range of existing loan products and programs.
These new loan initiatives are supported, in part, by the capital generated from Umpqua Holdings Corporation's sale of $214 million of preferred stock in November 2008 to the U.S. Department of the Treasury. This exchange, which was through the Treasury's Capital Purchase Program, placed capital into the country's healthiest banks to stimulate lending to qualified businesses, individuals and communities.
"We were pleased to be identified by the Treasury as one of the nation's strongest, healthiest community banks," said Ray Davis, president and CEO of Umpqua Holdings Corporation. "With this investment comes great responsibility. As a community bank we have carefully evaluated ways to increase our lending activity, which is not only the backbone of our business, but is critical in supporting growth and economic development within the communities we serve."
About Umpqua's Lending Initiatives
In 2008, Umpqua's consumer, mortgage, small business and commercial loan production was $2 billion. To augment its existing production and loan programs, Umpqua has developed the following initiatives:
- Municipalities: Tailored financing to help city, county and state entities meet infrastructure and operational needs.
- Environmental: Umpqua has created GreenStreet Lending, a residential and small business lending program to provide affordable financing for consumers and businesses making energy efficient or alternative energy improvements. Umpqua's eco-banking division will also work with larger companies to explore opportunities to decrease their carbon footprint by making sustainable improvements.
- Wine Industry: Umpqua has created a dedicated wine-industry lending team in the Napa Valley region to provide targeted commercial funding for wineries and vineyards, and is now expanding this focus to Oregon and Washington where the wine industry is playing a growing role in the regional economy.
- Mortgage Lending: Umpqua is offering mortgage loan programs to customers for purchasing condos in Umpqua Bank-owned developments. There are more than 15 developments in Oregon, Washington and California that qualify. In addition to first time home buyer and other mortgage lending products, Umpqua is providing funds to qualified homebuyers seeking residential mortgages in excess of agency guidelines.
Umpqua continues to make its portfolio of loan products available to qualified commercial, small business, consumer and mortgage borrowers in each of the markets that the bank serves, from Western Washington through Oregon and Northern California. Loans can be applied for at any Umpqua Bank store location and by calling 866-486-7782.
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ) and has 150 locations between Napa, Calif. and Bellevue, Wash., along the Oregon and Northern California Coast, and in both Central California and Central Oregon. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including the Wall Street Journal, New York Times, BusinessWeek, Fast Company and CNBC. The company, recognized for the third year in a row, ranked 34th on Fortune Magazine's 2009 list of the country's "100 Best Companies To Work For." Umpqua Holdings also owns retail brokerage subsidiary Strand, Atkinson, Williams & York Inc., which has locations in Umpqua Bank stores and in dedicated offices throughout Oregon and Southwest Washington. Umpqua Bank's Private Client Services Division provides tailored financial services and products to individual customers. Umpqua Holdings Corporation is headquartered in Portland, Ore. Umpqua Bank is an Equal Housing Lender. For more information, visit [ http://www.umpquabank.com ]/.