UMPQUA BANK EXPANDS COMMERCIAL REAL ESTATE DIVISION TO COLORADO

Rhea-AI Summary

Umpqua Bank has expanded its commercial real estate (CRE) division into Colorado, hiring Todd Grover as senior vice president and market leader. Grover, a prominent figure in Colorado's CRE landscape with over 25 years of experience, is expected to drive growth in the Denver area. His background includes generating over $1 billion in annual loan originations. This strategic move, supported by Umpqua's commitment to enhancing its banking experience across the Mountain West, follows the recent hiring of Shawn Thompson to lead middle market banking in Colorado.

Positive

• Expansion of CRE division into Colorado.
• Hiring of Todd Grover, a well-respected leader in commercial real estate.
• Grover's track record of generating over $1 billion in loan originations annually.

Negative

• None.

Bank hires Denver-based CRE leader Todd Grover as part of Mountain West growth strategy

PORTLAND, Ore., Aug. 23, 2022 /PRNewswire/ -- Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), announced today the expansion of its commercial real estate (CRE) division into Colorado with the hiring of Todd Grover as senior vice president and market leader to lead and build the bank's Denver-based CRE team. Grover is one of Colorado's top commercial real estate leaders with more than 25 years of industry experience.

According to Neil Hodge, executive vice president and head of commercial real estate at Umpqua Bank, Grover's addition reflects Umpqua's continued strategic priority to grow its presence in Denver and build a best-in-class banking experience for companies across the Mountain West region.

"Todd is a tremendous CRE professional with a strong reputation for his leadership, customer-focused service and experience as a trusted advisor to his clients," said Hodge. "As one of the West's strongest banks, Umpqua is thrilled to hire Todd to lead our expansion and leverage our size, resources, and expertise for property owners and development companies seeking to support the vitality and growth in Denver, Phoenix and other Mountain West communities."

Grover brings to Umpqua a record of leadership success that includes building teams generating annual loan originations in excess of $1 billion. Most recently, Grover served as market executive for BBVA USA, leading teams that structured commercial real estate financing transactions in major markets including Denver, Chicago, Dallas, Houston, Los Angeles, Phoenix, and San Francisco. Volume included transactions for apartments, industrial, retail, office, medical office, and triple-net leased properties. Throughout his career, Grover has applied his expertise to create custom financing solutions for clients, with financing typically ranging from $15 million to $70 million per project for a variety of needs, including construction, acquisition, bridge and term loans.

Today's announcement marks the growth of Umpqua's expansion into Colorado that includes the hire of Shawn Thompson earlier this year to head its middle market banking division in the region.

"Umpqua is excited to be a part of Denver's vibrant business community and economy. We look forward to contributing to the prosperity of communities across the Western U.S.," said Umpqua Bank President Tory Nixon. "We're focused on attracting top banking talent passionate about providing high-growth, commercial enterprises an exceptional relationship banking experience. Our recent leadership hires in the region and the expansion of both our middle market banking and commercial real estate divisions in Colorado reflect our commitment to do just that."

Grover holds an MBA in finance from Indiana University's Kelley School of Business and a bachelor's degree in marketing from Michigan State University. He also has participated in the executive development program at the University of Texas at Austin.

About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and operates across Oregon, Washington, California, Idaho, Nevada, Arizona, and Colorado. 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 17th consecutive year. In addition to its retail banking presence, Umpqua Bank owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to small businesses.

 

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SOURCE Umpqua Bank

FAQ

What is Umpqua Bank's recent expansion into Colorado about?

Umpqua Bank has expanded its commercial real estate division into Colorado with the hiring of Todd Grover as market leader.

Who is Todd Grover and what is his role at Umpqua Bank?

Todd Grover is the senior vice president and market leader for Umpqua Bank's newly established commercial real estate team in Colorado.

What experience does Todd Grover bring to Umpqua Bank?

Todd Grover has over 25 years of experience in commercial real estate and has previously generated more than $1 billion in loan originations annually.

How does Umpqua Bank plan to support growth in Colorado?

Umpqua Bank aims to contribute to Colorado's economy by expanding its banking services and attracting top talent focused on commercial enterprises.