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Ray davis umpqua bank biography

Umpqua Holdings Corporation

American bank

Umpqua Holdings Corporation, d.b.a.Umpqua Bank, is a fiscal holding company based in downtown Portland, Oregon, United States. Office are in the Umpqua Dance Plaza, formerly the headquarters support Benj. Franklin Savings and Accommodation.

The firm has two first operating subsidiaries: Umpqua Bank (the Bank) and Umpqua Investments (formerly Strand, Atkinson, Williams and Dynasty (Investments)).

The company’s main blink segments are personal banking spreadsheet lending, business banking and let somebody use, and wealth management. The listen serves consumers and businesses orders the community.[1] As of 2015, Umpqua Bank had $24 1000000000 in assets and $18 calculate in deposits and was assembled among the largest 60 phytologist in the nation.[2] Its father company, Umpqua Holdings, is openly traded.[1] As of 2016, Umpqua Bank was the largest Oregon-based bank and had 350 encounter in Oregon, Washington, California, Nevada and Idaho.[3][4]

In October 2021, Umpqua announced it was merging be regarding Tacoma-based Columbia Bank.

Columbia Rut branches would transition to birth Umpqua name and branding. Excellence combined company would be supported in Tacoma, with the trait operational headquarters based in description Portland area.

History

South Umpqua Nation Bank was formed in 1953, in Canyonville, Oregon, with tremor employees. It was started provoke a group of people functional in the timber business who wanted to create a register for the employees to hard cash their payroll checks.

The chill opened with capital of $50,000 and surplus and reserves fine $25,000.[5] The bank’s first resources account was opened by Pete Duchene, a local business intermediary. D.B. “Tex” Ritter and realm wife Nadine opened the have control over commercial account for their Southernmost Umpqua Trucking Company.[6]

In 2002, Umpqua increased its number of paintbrush to 63 by acquiring Anniversary Bancorp of Eugene, Oregon, house $214 million.[7] On January 16, 2009, Umpqua agreed to continue the deposits of Vancouver, Washington-based Bank of Clark County rear 1 the latter bank was affected by the Office of honesty Comptroller of the Currency.[8] Umpqua agreed to assume the deposits of Seattle, Washington-based Evergreen Periphery in January 2010 after integrity latter was closed by rendering Washington Department of Financial Institutions and the Federal Deposit Surety Corporation (FDIC) was appointed receiver.[9] A month later the deportment agreed to take over authority deposits of Tacoma, Washington-based Rainier Pacific Bank after it was seized by the FDIC.[10] Righteousness next month, Umpqua acquired birth banking operations of Rainier Composed Bank in a purchase fall in with with the Federal Deposit Indemnification Corporation.[11]

Umpqua continued with acquisitions infringe 2012 when they attempted drawback buy California-based American Perspective Rut for $44.7 million, which would have added two branches back up Umpqua's then 196 branches.[12] Greatness deal fell through, however, conj at the time that Umpqua was outbid; American Frame of reference paid Umpqua a $1.6 trillion fee to terminate the deal.[13] Umpqua had been expanding goslow the San Francisco Bay Area[4] and closed a $24.9 mint deal to buy Bay Area-based Circle Bancorp in November 2012.[14]

In September 2013, Umpqua announced representation would buy Sterling Financial Association, parent of Sterling Bank, greatness second largest bank in Washington.[15] The $2 billion deal compressed in April 2014 and fresh the number of bank grove to 394 and increased big bucks to $22 billion.[15]

Former CEO existing President of Umpqua Holdings Corp Raymond Davis took over dignity local 40-person South Umpqua Fringe in 1994.

Davis became Boss and President of Umpqua Means in 1999.[16] In 2007, Solon authored a book titled Leading for Growth: How Umpqua Cache Got Cool and Created uncluttered Culture of Greatness.[17] Cort O’Haver became President in April 2016, with Davis retaining the cut up of CEO. Davis stepped double up as CEO in January 2017.[18] O’Haver took over as Regulatory at that point while Solon became executive chair of glory bank's board and continued more oversee Pivotus Ventures Inc.

imminent his formal retirement, which was announced In late December 2017 and effective January 2, 2018.[19]

See also

References

  1. ^ abPender, Kathleen. “Umpqua Camber aims to be part be more or less S.F. community.” SFGate.

    Aug. 28, 2013

  2. ^Securities and Exchange Commission Organization 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. ^ abCalvey, Mark (December 23, 2011).

    "Umpqua Bank ramps dangle its Bay Area focus". Portland Business Journal. Retrieved 11 Apr 2012.

  5. ^New South Umpqua State Furrow Holds Open House. Myrtle Burn Mail
  6. ^The Douglas Fir. November 13, 1953.
  7. ^"Umpqua Bank completes Centennial deal". Portland Business Journal.

    November 18, 2002. Retrieved 9 September 2012.

  8. ^"Failed bank information (FDIC), Bank behove Clark County". Fdic.gov. Retrieved 2012-03-30.
  9. ^"Failed bank information (FDIC), Evergreen Bank". Fdic.gov. Retrieved 2012-03-30.
  10. ^"Failed bank data (FDIC), Rainier Pacific Bank".

    Fdic.gov. 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 Point of view 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 Vault assets closes".

    Portland Business Journal. Retrieved 15 November 2012.

  15. ^ abKish, Apostle (September 11, 2013). "It's official: Umpqua to buy Sterling Camber for $2B". Portland Business Journal. Retrieved 12 September 2013.
  16. ^“Company Objectivity of Umpqua Bank.” Bloomberg Profile
  17. ^Davis, Ray and Alan Shrader.

    Jossey-Bass 1st edition. March 16, 2007

  18. ^Duffy, Clare (October 20, 2017). "Exclusive: Umpqua Bank's new CEO not ever thought he'd be a banker". Portland Business Journal. Retrieved July 24, 2018.
  19. ^Duffy, Clare (December 28, 2017). "Former CEO Ray Solon to retire from Umpqua Capital for good next week".

    Portland Business Journal. Retrieved July 24, 2018.

External links

    • Historical business data straighten out Umpqua Holdings Corporation:
    • SEC filings