As of 2020, Umpqua Bank was the largest Oregon-based bank and had 243 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.
Is Columbia Bank and Umpqua Bank merging?
"The receipt of shareholder approval marks an important milestone on our integration timeline," said Clint Stein, President and CEO of Columbia. 17 hours ago
Is Umpqua Bank in Trouble?
The Federal Deposit Insurance Corp. (FDIC) ordered Umpqua Bank to pay a $1.8 million penalty over what the regulator determined to be unfair and deceptive debt and fee collection practices at the Oregon-based bank's subsidiary, Financial Pacific Leasing.11 May 2021
Did Umpqua Bank get sold?
A statement from Umpqua described the new bank as “The West Coast's leading regional bank,” with a combined $43 billion in deposits. Even though they are being bought out, Umpqua shareholders will own 62% of the combined company, while those with stock in Columbia will take on 38%, according to Umpqua Holdings.17 Nov 2021
Who bought Umpqua?
Columbia Banking System
What type of bank is Umpqua Bank?
Type Public
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Industry Commercial Banks
Founded Canyonville, Oregon, United States (1953)
Is Umpqua a credit union or a bank?
Umpqua was founded in 1953 to serve timber workers in Canyonville, Oregon. Today, STCU is one of the nation's top-100 credit unions as measured by total assets, and Umpqua is the largest bank headquartered in the Pacific Northwest.10 Sept 2020