Business & Finance
Business and Finance
Business and Finance
Fri, January 21, 2011
Thu, January 20, 2011 
PORTLAND, Ore.--([ BUSINESS WIRE ])--[ Umpqua Bank ], a subsidiary of Umpqua Holdings Corp. (NASDAQ: UMPQ), plans to expand its commercial banking operations to Californiaa™s Silicon Valley as part of its overall growth strategy. The bank, which has commercial operations as far south as San Francisco and Walnut Creek, Calif., and in Oregon, Western Washington and Northern Nevada, expects to open a commercial banking facility to serve the Silicon Valley within the first half of 2011.
"The Silicon Valley is a strategic extension for Umpqua Banka™s commercial banking division"
aThe Silicon Valley is a strategic extension for Umpqua Banka™s commercial banking division,a said Cort Oa™Haver, executive vice president of commercial banking for Umpqua Bank. aThe region has the third largest concentration of public and private companies operating in the market and there is a limited presence of regionally based banks.a
Umpqua offers a full line of commercial, treasury management, and retail banking products and services. Like many companies headquartered in Silicon Valley, Umpqua has long been focused on creating innovative products, delivery systems and a unique customer experience. The bank has served California communities for more than eight years.
aThis expansion is in line with Umpquaa™s plans to continue building momentum in our commercial loan portfolio. We see tremendous opportunity in the Silicon Valley to extend our commercial banking services to regional businesses, assisting in their growth as the market recovers,a said Oa™Haver.
Umpqua Bank has opened five new commercial banking facilities within the past 12 months and continues to explore new locations within and adjacent to its footprint. The Silicon Valley commercial banking center will be Umpquaa™s first entry into the area, paving the way for further growth.
About Umpqua Bank
[ Umpqua Bank ], headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ) and has 184 locations between San Francisco and Seattle, along the Oregon and Northern California Coast, and in Central Oregon and Northern Nevada.Umpqua Bank has been recognized 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 the past five years in a row on FORTUNE magazinea™s list of the countrya™s a100 Best Companies To Work For.a Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon.Umpquaa™s Private BankDivision serves high-net-worth individualsand non-profitsproviding customized financial solutions and offerings.Umpqua Holdings Corporation is headquartered in Portland, Ore.For more information, visit [ http://www.umpquabank.com ].
