Umpqua Bank Headquarters Information

Umpqua Bank is a principal subsidiary of Umpqua Holdings Corporation, a financial holding company. The parent company is based in Portland, Oregon and has two other primary subsidiaries; Umpqua Investments and Pivotus Ventures.

By 2015, the bank’s assets totaled $24 billion in value and the deposits stood at $18 billion making it one of the 60 biggest banks in the whole country. The parent company is also publicly traded and in 2016, it was the largest bank that’s based in Oregon.

As of 2016, Umpqua Bank had 350 branches distributed in 5 different states:

1. Nevada
2. Oregon
3. Idaho
4. California
5. Washington

History of the Bank

The bank started off in 1953 as the South Umpqua State Bank. The first branch was located in Canyonville, Oregon and only had six members of staff.

The original members were individuals in the timber business who needed an easy way for their workers to cash checks. The bank’s starting capital was $50,000 and it also had reserves and surplus of $25,000.

The bank’s branches increased to 63 after it acquired Centennial Bancorp of Eugene Oregon. They paid $214 million for the acquisition. Over the coming years, the bank would also assume the deposits of:

• Bank of Clark County
• Evergreen Bank
• Rainier Pacific Bank

These moves followed the closure or seizure of the banks in question. By 2012, Umpqua Bank had a total of 196 branches. In the same year, the bank moved into the San Francisco Bay Area following the buyout of Circle Bancorp which was based in the area.

In 2014, Umpqua Bank finalized the acquisition of Sterling Bank’s parent company, Sterling Financial Corporation, for a deal that was valued at $2 billion. This brought the bank’s branches to 394 in total and increased their asset base to $22 billion.

The Headquarters

Umpqua Bank Plaza is the current headquarters of Umpqua Holdings Corporation. The building is located in Downtown Portland.

Umpqua Bank Plaza stands at 263 feet tall and is faced with red brick. The building offers 265, 000 square feet of space and was opened in 1975. It’s estimated that the building took $16 million to construct.

In the beginning, the building was known as the Benjamin Franklin Plaza. At that time, Benj. Franklin Savings and Loan was the tenant in the building. Initially, the building was to be named after a construction materials company that was to be the tenant. This changed after the said company suffered some setbacks.

The building was opened in 1975 when Benjamin Franklin Federal Savings and Loan Association moved into it. One of the changes that were made was the addition of cast iron pieces. These came from Ladd Building which had been demolished. This was done since the CEO liked the classic look.

The savings and loan association was closed in 1990 but the name wasn’t changed. The buiding changed owners several times and was even remodeled at a cost of $2.7 million in 1997. The building’s name was finally changed to Umpqua Plaza when the bank became the largest tenant in 2005.

Umpqua Bank Headquarters Address

Umpqua Bank Plaza, 1 SW Columbia St, Portland, OR 97258, USA

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