• Umpqua Holdings Corporation
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  • Umpqua Bank’s Ron Farnsworth Named CFO of the Year
    Company Release - 05/15/2015 11:45

    Farnsworth recognized by the Portland Business Journal for leadership role in creating the West Coast’s largest community bank

    PORTLAND, Ore.--(BUSINESS WIRE)-- Ron Farnsworth, executive vice president and chief financial officer for Umpqua Holdings Corporation (NASDAQ: UMPQ) and its subsidiaries, Umpqua Bank and Umpqua Investments, was today named CFO of the Year in the public company category by the Portland Business Journal. Farnsworth was previously honored with the award in 2010.

    “Ron combines a deep understanding of the banking industry’s financial, regulatory and business environment with the rare ability to lead and inspire those around him,” said Ray Davis, president and CEO of Umpqua Bank. “2014 was a transformational year for Umpqua, and one in which Ron played a pivotal role in our success. Under his leadership, we successfully completed the largest bank acquisition in Oregon history and became the West Coast’s largest community bank – while continuing to be recognized as one of the country’s strongest financial institutions. I could not be more pleased to see Ron receive this award.”

    As CFO, Farnsworth oversees all aspects of Umpqua’s financial and fiscal operations as well as the company’s technology division. Farnsworth was promoted to the position of CFO in 2008 in the middle of the country’s most challenging financial environments. Under Farnsworth’s leadership, Umpqua emerged from the Great Recession with a balance sheet even stronger than it was before the crisis began.

    Farnsworth was instrumental in Umpqua’s 2014 acquisition of Sterling Financial, which doubled the company’s size and footprint to approximately $23 billion in assets, $15 billion in loans and $16 billion in deposits, with more than 4,500 associates and 350 stores across five states - Oregon, Washington, Idaho, California and Nevada.

    The CFO of the Year Awards is an annual event hosted by Portland Business Journal to recognize the region’s top financial stewards.

    About Umpqua Bank

    Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and has locations across Idaho, Washington, Oregon, California 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 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 tenth 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.

    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 Holdings Corporation
    Katy Spaulding, 971-803-7030

    Source: Umpqua Holdings Corporation