Umpqua Bank to Open Flagship Store in San Jose, Continuing Bay Area Expansion
PORTLAND, Ore.--(BUSINESS WIRE)-- Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NAS: UMPQ) , continues its expansion in California with plans for a new flagship store in downtown San Jose. Umpqua pioneered the concept of bank branch as retail store by creating inviting spaces designed as both financial hubs and gathering spaces for communities and businesses. The new location will provide community banking, home lending and commercial banking services.
"San Jose is one of the country's strongest growth markets and a key part of Umpqua Bank's expansion strategy in the Bay Area," said Ray Davis, president and CEO for Umpqua Bank. "The success of our international and commercial banking teams in this region demonstrates the demand for what we provide - the geographic reach and sophisticated products of a large organization combined with the personalized service only a community bank can deliver."
The bank signed a lease for a 6,874-square-foot space located on two floors of a 15-story mixed-use tower at 225 West Santa Clara in the central business district of San Jose. The build-out is expected to be complete in the first quarter of 2013.
The San Jose location will incorporate signature features of Umpqua's store design on the ground floor, including: an interactive Discover Wall showcasing information about financial tools, products and community events; a computer café and free Wi-Fi; and a phone with a direct line to the bank's CEO.
Umpqua's commercial lending, home lending and business banking teams will occupy the second floor. The store will be open 9 a.m. to 6 p.m. Monday through Friday, and 10 a.m. to 2 p.m. Saturday.
About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation with locations between San Francisco and Seattle, along the Oregon and Northern California Coast, and in Central Oregon and Northern 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 the past six years in a row on FORTUNE magazine's list of the country's "100 Best Companies to Work For." Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon. Umpqua's Wealth Management Division serves high net worth individuals and nonprofits by providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com.
For Umpqua Bank
Ming Lacey, 503-546-7891
KEYWORDS: United States North America California Nevada Oregon
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