Umpqua Bank Named Oregon's Most Admired Financial Services Company
Bank recognized by Oregon’s business community for sixteenth year in a row
Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), has been named Oregon's Most Admired Financial Services Company by the Portland Business Journal. The largest bank headquartered in Oregon, Umpqua has received the recognition every year since the award was introduced 16 years ago.
"This recognition is always special, but it’s even more so this year given all we’ve been through in 2020,” said Cort O’Haver, Umpqua Bank CEO. “Above all, this award reflects the hard work and dedication of Umpqua’s 4,000 associates, especially those on the frontlines of service who’ve continued to show up for our customers and communities each and every day.”
Each year, the Portland Business Journal conducts a statewide poll of CEOs and top executives across Oregon to determine the state’s most admired companies in several industry categories. Those polled select winners based on criteria including community involvement, innovation, quality of management, quality of products and services, and branding and marketing.
2020 Umpqua Bank Highlights:
- Umpqua earned national media attention for its responsive approach to helping businesses impacted by the pandemic and economic shutdown. The bank pivoted organizationally to become one of the first financial institutions in the country ready to accept applications through the federal Paycheck Protection Program (PPP). In roughly one month, Umpqua helped more than 17,000 businesses receive $2.1+ billion in financial relief, saving an estimated 250,000 jobs.
- In response to the pandemic, the bank committed more than $2 million to support nonprofits on the frontlines of the pandemic delivering vital services and relief to families and small businesses. The bank also expanded its virtual volunteer program to safely empower associate volunteerism during periods of social distancing.
- To understand more deeply the impact of the pandemic on small and mid-size businesses, Umpqua released its 2020 Business Resiliency Report, a nationwide study of 1,200 business leaders.
- In support of West Coast communities devastated by the 2020 wildfires, Umpqua provided $750,000 in direct contributions to help recovery and rebuilding efforts. The bank also activated disaster relief programs that include waiving up to $10,000 in costs for impacted homeowners to rebuild or purchase a new home.
- The bank increased its associate giving match from 1:1 to 3:1 to triple the impact of donations. As a result, Umpqua associates have contributed more than $100,000 in additional support for pandemic, wildfire relief and social justice efforts.
- The bank and its charitable foundation awarded more than $3 million in funding to nonprofits committed to enhancing the quality of life in communities across the company’s footprint.
- Umpqua was named the Best U.S. Community Bank by Capital Finance International for its Human Digital Banking strategy and its support of 17,000 businesses through PPP.
- Umpqua promoted Tory Nixon to bank president as part of its strategy to increase focus on serving the small and middle market businesses that are a critical part of local economies across the West Coast.
- The bank announced the formation of a new community & business banking division to support the unique challenges and opportunities of businesses with annual revenue between $1 million and $15 million. To lead the division, Umpqua promoted Ashley Hayslip, who managed Umpqua’s PPP implementation efforts.
Oregon's Most Admired Companies is an annual event held by the Portland Business Journal. The event is one of the publication's business programs created to recognize the state's leading organizations. To see the complete list of Oregon's Most Admired Companies, visit www.bizjournals.com/portland.
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 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 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 sixteenth consecutive year. In addition to its retail banking presence, Umpqua Bank also owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to businesses. A subsidiary of Umpqua Holdings Corporation, Umpqua Investments, Inc., provides retail brokerage and investment advisory services in offices throughout Washington, Oregon, and California.