• Umpqua Holdings Corporation
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  • FORTUNE Announces 2008 List of ''100 Best Companies to Work For''
    Umpqua Bank Ranked 13 on Fortune's 11th Annual List 
    Company Release - 01/23/2008 12:46


    FORTUNE announced yesterday that Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), has been ranked 13th on the 11th annual "100 Best Companies to Work For" list. The full list and related stories appear in the February 4 issue of FORTUNE, available on newsstands January 28 and at www.fortune.com on January 22.

    "A strong culture is a critical part of building a great company, one able to survive and thrive in even the toughest economic environments. Particularly at this moment, when the financial services industry is facing challenging times, we're honored to be recognized by FORTUNE as one of the country's '100 Best Companies to Work For,'" said Ray Davis, president and CEO of Umpqua Bank. "This recognition demonstrates the vitality of Umpqua's culture, which is a critical part of our success creating value for our associates, customers and shareholders."

    A driving factor for the list this year is that these companies excel in creating jobs. The 100 companies on the 2008 list added 67,000 employees to their payrolls in the past year and employ a total of nearly 1.6 million employees; up 16% from the number employed by companies comprising last year's list.

    To pick the "100 Best Companies to Work for", FORTUNE works with Robert Levering and Milton Moskowitz of the Great Place to Work Institute to conduct the most extensive employee survey in corporate America. Of some 1,500 firms that were contacted, 406 companies participated in this year's survey. Nearly 100,000 employees at those companies responded to a 57-question survey created by the Great Place to Work Institute, a global research and consulting firm with offices in 30 countries. Most of the company's score (two-thirds) is based on the results of the survey, which is sent to a minimum of 400 randomly selected employees from each company. The survey asks questions related to their attitudes about the management's credibility, job satisfaction and camaraderie. The other third of the scoring is based on the company's responses to the Institute's Culture Audit, which includes detailed questions about pay and benefit programs and a series of open-ended questions about hiring practices, methods of internal communications, training, recognition programs and diversity efforts, etc. After evaluations are completed, if news about a company comes to light that may significantly damage employees' faith in management, that company may be excluded from the list.

    Any company that is at least seven years old with more the 1,000 U.S. employees is eligible. The deadline for applying for next year's list is March 31, 2008. For an online nomination form, go to www.greatplacetowork.com.

    About Umpqua Bank

    Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ) and has 147 locations between Napa, Calif. and Bellevue, Wash., along the Oregon and Northern California coasts and in both Central California and Central Oregon. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including the Wall Street Journal, New York Times, BusinessWeek, Fast Company and CNBC. The company also ranked 34th on Fortune Magazine's 2007 list of the country's "100 Best Companies To Work For." Umpqua Holdings also owns retail brokerage subsidiary Strand, Atkinson, Williams & York Inc., which has locations in Umpqua Bank stores and in dedicated offices throughout Oregon and Southwest Washington. Umpqua Bank's Private Client Services Division provides tailored financial services and products to individual customers. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com/.

    Source: Umpqua Bank

    Contact: Umpqua Bank Media contacts: Lani Hayward, 503-727-4132 LaniHayward@umpquabank.com or LANE PR Eve Callahan, 503-546-7867 Eve@lanepr.com