Umpqua Bank Expands Its Reach with New Branches in Arizona

Umpqua Bank Expands Its Presence in Arizona

Umpqua Bank, a part of Columbia Banking System, Inc. (NASDAQ: COLB), is excited to announce its ongoing expansion across the Western United States with the opening of three new branches in Arizona. This move is not just a geographical leap but a significant step towards strengthening their reputation as the premier bank of choice in the West. Following their recent endeavors in Utah, Umpqua is focused on establishing its footprint in Arizona, which they see as a key market ripe with potential.

Planned Branch Locations

The bank's expansion plan includes two newly opened locations in Phoenix and Scottsdale, alongside plans for a third branch in Mesa, set to open soon. Umpqua Bank's entry into these markets isn't their first; they've been building their presence in Arizona since 2021 when they established a middle market banking presence. With this latest expansion, they aim to enhance their service offerings and grow their local teams to better support both personal and business banking needs.

CEO's Vision for the Expansion

Umpqua Bank's CEO, Clint Stein, expressed great enthusiasm regarding Arizona as a priority market for the bank. "Arizona is very important to us, and the dynamic business community here aligns perfectly with our long-term strategy. We are dedicated to becoming the leading bank for this region. Since we began our operations here in 2021, we have continuously invested in our teams to cater to our business clientele's diverse needs," Stein said.

Arizona's Economic Landscape

Arizona is witnessing a remarkable economic transformation, with a range of industries flourishing in the region. From the expanding semiconductor sector to entertainment and hospitality, the state is also cultivating alternative energy initiatives, healthcare services, and data centers. This diverse economic base is positioning Arizona as a hub for innovation, including developments in generative AI technology.

Community Commitment and Involvement

As part of Umpqua Bank’s ethos, community involvement is at the heart of their operations. In support of long-term community initiatives, the Umpqua Bank Charitable Foundation recently donated a total of $60,000 to six local nonprofits. These contributions underline the bank's commitment to investing in the communities it serves, ensuring that they play a positive and impactful role in local development.

Branch Leadership and Operations

The new branches are led by experienced professionals dedicated to their communities. For instance, the Phoenix branch, located at 10201 S. 51st St, features Melinda Santacruz, who has more than two decades of banking experience. Meanwhile, the Scottsdale branch operates under the leadership of Britne Corkill, who also brings significant expertise and community support of over 25 years to her role. Both branches are now open to serve customers Monday through Friday from 9 am to 5 pm.

Looking Ahead

With the new branch in Mesa slated for early 2025, Umpqua Bank is strategically positioning itself for future growth. The bank's proposal for further branches in the area is underway, indicating a strong commitment to expanding its market presence and enhancing customer service in Arizona.

About Umpqua Bank

Umpqua Bank is a proud subsidiary of Columbia Banking System, Inc. (NASDAQ: COLB) and serves as a premier regional bank throughout the western United States. Operating in several states, including Oregon, Washington, California, Idaho, Nevada, Utah, Arizona, and Colorado, the bank manages over $50 billion in assets. Their comprehensive suite of services encompasses retail banking, commercial banking, Small Business Administration lending, equipment leasing, and wealth management. Umpqua Bank is headquartered in Lake Oswego, Oregon.

Frequently Asked Questions

What is Umpqua Bank's recent expansion in Arizona about?

Umpqua Bank is expanding its footprint in Arizona by opening three new branches to enhance their service in the region.

What locations are included in Umpqua Bank's Arizona expansion?

The recent expansion includes branches in Phoenix, Scottsdale, and a planned location in Mesa.

Who is leading the new branches in Arizona?

The Phoenix branch is led by Melinda Santacruz, while the Scottsdale branch is managed by Britne Corkill, both with significant experience in banking.

How does Umpqua Bank support community involvement?

The Umpqua Bank Charitable Foundation has contributed $60,000 to local nonprofits as part of their commitment to community support.

What services does Umpqua Bank offer?

Umpqua Bank provides a range of services, including retail banking, commercial banking, SBA lending, equipment leasing, and wealth management.

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