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Umpqua Bank Targets Arizona for Expansion with the Opening of Three New Branches

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Umpqua Bank, a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), has announced its expansion in Arizona with two new branch openings in Phoenix and Scottsdale, and a third location planned in Mesa for early 2025. This move follows the bank's successful launch of middle market banking in Arizona in 2021 and recent retail banking expansion in Utah. The expansion aligns with Umpqua's strategy to grow in markets with strong potential and become the West's premier bank of choice.

The Phoenix branch, opened in June, is led by Melinda Santacruz, while the Scottsdale branch, opened in August, is managed by Britne Corkill. Both locations operate Monday through Friday, 9 am to 5 pm. As part of its community involvement, the Umpqua Bank Charitable Foundation has contributed $60,000 to six local nonprofit partners in Arizona.

Umpqua Bank, una filiale di Columbia Banking System, Inc. (Nasdaq: COLB), ha annunciato la sua espansione in Arizona con l'apertura di due nuove filiali a Phoenix e Scottsdale, e una terza sede prevista a Mesa per all'inizio del 2025. Questo passo segue il lancio di successo della banca nel settore dei servizi bancari per il mercato medio in Arizona nel 2021 e l'espansione recente nel settore bancario al dettaglio nello Utah. L'espansione si allinea con la strategia di Umpqua di crescere in mercati ad alto potenziale e diventare la banca di riferimento dell'Ovest.

La filiale di Phoenix, aperta a giugno, è guidata da Melinda Santacruz, mentre la filiale di Scottsdale, aperta ad agosto, è gestita da Britne Corkill. Entrambi i punti operano dal lunedì al venerdì, dalle 9 alle 17. Come parte del suo coinvolgimento nella comunità, la Umpqua Bank Charitable Foundation ha contribuito con 60.000 dollari a sei partner non profit locali in Arizona.

Umpqua Bank, una subsidiaria de Columbia Banking System, Inc. (Nasdaq: COLB), ha anunciado su expansión en Arizona con dos nuevas sucursales en Phoenix y Scottsdale, y una tercera ubicación prevista en Mesa para principios de 2025. Este movimiento sigue al exitoso lanzamiento de la banca de mercado medio en Arizona en 2021 y la reciente expansión de la banca minorista en Utah. La expansión está alineada con la estrategia de Umpqua de crecer en mercados con un fuerte potencial y convertirse en el banco de elección premier en el Oeste.

La sucursal de Phoenix, abierta en junio, está a cargo de Melinda Santacruz, mientras que la sucursal de Scottsdale, inaugurada en agosto, es gestionada por Britne Corkill. Ambas ubicaciones operan de lunes a viernes, de 9 a.m. a 5 p.m. Como parte de su compromiso con la comunidad, la Umpqua Bank Charitable Foundation ha contribuido con 60,000 dólares a seis socios no lucrativos locales en Arizona.

엄콰 은행(Umpqua Bank), 콜롬비아 은행 시스템 주식회사(Columbia Banking System, Inc.)의 자회사(나스닥: COLB)가 애리조나에서 피닉스와 스코츠데일에 두 개의 새로운 지점 개설을 발표하고 있으며 2025년 초에 메사에 세 번째 지점을 계획하고 있습니다. 이번 조치는 2021년에 애리조나에서 중견 시장 은행 서비스를 성공적으로 시작한 이후 및 유타에서의 소매 은행 확장과 관련이 있습니다. 이 확장은 강력한 잠재력을 가진 시장에서 성장하고 서부의 주요 은행으로 자리매김하겠다는 엄콰의 전략과 일치합니다.

6월에 개설된 피닉스 지점은 멜린다 산타크루즈(Melinda Santacruz)가 이끌고 있으며, 8월에 개설된 스코츠데일 지점은 브릿니 코키일(Britne Corkill)이 관리하고 있습니다. 두 지점 모두 월요일부터 금요일까지 오전 9시부터 오후 5시까지 운영합니다. 엄콰 은행 자선 재단(Umpqua Bank Charitable Foundation)은 애리조나의 6개 지역 비영리 파트너에게 60,000달러를 기부했습니다.

Umpqua Bank, une filiale de Columbia Banking System, Inc. (Nasdaq: COLB), a annoncé son expansion en Arizona avec deux nouvelles ouvertures de succursales à Phoenix et Scottsdale, et une troisième localisation prévue à Mesa pour début 2025. Ce mouvement fait suite au lancement réussi de la banque pour le marché intermédiaire en Arizona en 2021 et à l'expansion récente de la banque de détail dans l'Utah. L'expansion s'inscrit dans la stratégie d'Umpqua de se développer sur des marchés à fort potentiel et de devenir la banque de choix dans l'Ouest.

La succursale de Phoenix, ouverte en juin, est dirigée par Melinda Santacruz, tandis que la succursale de Scottsdale, ouverte en août, est gérée par Britne Corkill. Les deux sites sont ouverts du lundi au vendredi, de 9h à 17h. Dans le cadre de son implication dans la communauté, la Umpqua Bank Charitable Foundation a contribué 60 000 USD à six partenaires locaux à but non lucratif en Arizona.

Die Umpqua Bank, eine Tochtergesellschaft des Columbia Banking System, Inc. (Nasdaq: COLB), hat ihre Expansion in Arizona mit zwei neuen Filialeröffnungen in Phoenix und Scottsdale angekündigt und plant eine dritte Filiale in Mesa für Anfang 2025. Dieser Schritt folgt auf die erfolgreiche Einführung des Mittelstandsbankings in Arizona im Jahr 2021 und eine kürzliche Expansion des Einzelhandelsbankings in Utah. Die Expansion steht im Einklang mit der Strategie von Umpqua, in Märkten mit hohem Potenzial zu wachsen und die führende Bank im Westen zu werden.

Die im Juni eröffnete Filiale in Phoenix wird von Melinda Santacruz geleitet, während die im August eröffnete Filiale in Scottsdale von Britne Corkill verwaltet wird. Beide Standorte sind von Montag bis Freitag von 9:00 bis 17:00 Uhr geöffnet. Im Rahmen ihres gesellschaftlichen Engagements hat die Umpqua Bank Charitable Foundation 60.000 USD an sechs lokale gemeinnützige Partner in Arizona gespendet.

Positive
  • Expansion into Arizona market with two new branches and a third planned
  • Alignment with long-term strategy to grow in markets with strong potential
  • Diversification into Arizona's growing industries including semiconductors, alternative energy, and AI
  • Community involvement through $60,000 donation to local nonprofits
Negative
  • None.

Insights

Umpqua Bank's expansion into Arizona represents a strategic move to capitalize on the state's diverse and growing economy. While branch openings don't typically have an immediate impact on stock performance, this expansion could contribute to long-term growth for Columbia Banking System (COLB).

The focus on high-potential markets like Phoenix and Scottsdale, with plans for Mesa, indicates a targeted approach to expansion. The bank's emphasis on supporting various industries, including semiconductors and AI, suggests potential for increased commercial lending and deposit growth.

However, investors should consider the costs associated with expansion and the time it may take to achieve profitability in these new markets. The $60,000 charitable contribution, while positive for community relations, is a minor financial consideration for a bank of this size.

Umpqua Bank's expansion into Arizona aligns with broader banking industry trends of targeting high-growth markets. Arizona's diverse economy, particularly in sectors like semiconductors and AI, presents significant opportunities for financial services.

The bank's strategy of combining middle market banking with retail branches could lead to synergies and a stronger market position. This approach may help Umpqua capture both business and consumer banking segments effectively.

However, the Arizona banking market is competitive, with both national and regional players vying for market share. Umpqua will need to differentiate itself to stand out. The bank's community involvement and focus on local leadership in its branches could be key factors in building brand recognition and customer loyalty in these new markets.

Bank's move in Arizona follows recent retail banking expansion in Utah; underscores commitment to becoming the West's premier bank of choice

LAKE OSWEGO, Ore., Sept. 18, 2024 /PRNewswire/ -- Umpqua Bank, a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), today announced its continued expansion across the West with two new branch openings in Phoenix and Scottsdale, and a third Arizona location in Mesa planned for later this year. Expansion of the bank's retail network into Arizona follows the successful launch of its middle market banking presence in 2021.

"Arizona is a priority market for Umpqua Bank. The region's dynamic business community aligns with our long-term strategy of expanding in markets that demonstrate strong growth potential and further our commitment to being the West's premier bank of choice," said Umpqua Bank CEO Clint Stein. "Since entering Arizona in 2021, we have invested in the growth of our local teams to support the needs of our business customers, and we expect these new branches to accelerate our presence throughout the state." 

Arizona boasts a diverse economy that includes a range of industries, including the rapidly expanding semiconductor sector, as well as leisure and hospitality, alternative energy, healthcare, warehouse distribution centers and data centers — an anchor for the nascent generative AI industry.

"We are excited to be part of the Phoenix and Scottsdale communities and look forward to expanding our footprint throughout Arizona with a new branch in Mesa, slated for early 2025, and additional branches under consideration," said Chris Merrywell, Consumer Bank President at Umpqua Bank. "With these markets poised for growth, we've assembled a top-tier team of professionals ready to meet the personal and business banking needs of the region."

Phoenix Branch
Umpqua Bank opened its first retail branch in Phoenix in June located at 10201 S. 51st St in 10 Corporate Center. The 2,800 square foot branch is led by Melinda Santacruz, who brings more than 20 years of banking experience to the role and supports the local community through a wide range of volunteer work with organizations such as United Food Bank and the Phoenix Children's Hospital Give-a-Thon. The branch is open from 9 am to 5 pm, Monday through Friday.

Scottsdale Branch
In August, Umpqua Bank opened a retail branch in Scottsdale at Gainey Center II, 8501 N. Scottsdale Road. The branch is 4,000 square feet and managed by Britne Corkill. With more than 25 years of banking experience, Britne is also an active volunteer at several local community organizations, including Ronald McDonald House and St. Mary's Food Bank. The branch is open Monday through Friday, 9 am to 5 pm.

Community Involvement
Umpqua Bank plays an active role in the communities in which it operates. As part of the bank's retail expansion in Arizona, the Umpqua Bank Charitable Foundation recently contributed a combined $60,000 to six new, local nonprofit partners:

  • Arizona Foundation for Legal Services & Education
  • Friends of the Children Phoenix
  • HonorHealth Foundation
  • One-n-Ten (1N10)
  • Tempe Community Action Agency
  • UMOM New Day Centers

Learn more about Umpqua Bank's growing Arizona presence at www.umpquabank.com/locations/arizona/.

About Umpqua Bank 
Umpqua Bank is a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), and a premier regional bank in the western U.S., with offices in Oregon, Washington, California, Idaho, Nevada, Utah, Arizona and Colorado. With over $50 billion of assets, Umpqua Bank combines the resources, sophistication and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking; Small Business Administration lending; institutional and corporate banking; equipment leasing; and wealth management. The bank's corporate headquarters are located in Lake Oswego, Oregon. Learn more at: www.umpquabank.com.

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SOURCE Umpqua Bank

FAQ

Where has Umpqua Bank (COLB) opened new branches in Arizona?

Umpqua Bank has opened new branches in Phoenix and Scottsdale, Arizona, with a third location planned in Mesa for early 2025.

What is the significance of Umpqua Bank's (COLB) expansion into Arizona?

The expansion into Arizona aligns with Umpqua Bank's long-term strategy to grow in markets with strong potential and become the West's premier bank of choice.

How much has Umpqua Bank (COLB) donated to local nonprofits in Arizona?

The Umpqua Bank Charitable Foundation has contributed a combined $60,000 to six new, local nonprofit partners in Arizona.

When did Umpqua Bank (COLB) first enter the Arizona market?

Umpqua Bank first entered the Arizona market in 2021 with the launch of its middle market banking presence.

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