PORTLAND, OR -- (MARKET WIRE) -- 01/22/09 --
announced today that Umpqua Bank,
a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ) has been ranked
34th on the 12th annual "100 Best
Companies to Work For" list. Umpqua was the only Oregon company and
community bank to make the list. The full list and related stories will
appear in the Feb. 2 issue of FORTUNE, available on newsstands on Monday,
Jan. 26, and now at www.FORTUNE.com/bestcompanies.
A driving factor for the companies on this year's list is that they excel
at creating jobs. Of the 100 companies on the 2009 list, 73 are currently
"It's an incredible honor to be recognized for the third year in a row by
FORTUNE as one of the country's '100 Best Companies to Work For,'" said Ray
Davis, president and CEO of Umpqua Bank. "At Umpqua, we believe that a
company's culture is the number one asset that can carry it through the
most challenging of economic times. To be among the few financial services
companies to make this year's list is a testament to our associates and the
strength of our culture. I couldn't be more pleased by this award."
In his FORTUNE.com blog, managing editor Andy Serwer writes, "No matter
what happens with the economy, the demand for talent will remain. Great
companies know that super-motivated, happy, world-class employees are an
incredible competitive advantage."
To pick the "100 Best Companies to Work For," FORTUNE works with Robert
Levering and Milton Moskowitz of the Great Place to Work® Institute -- a
global research and consulting firm with offices in 30 countries -- to
conduct the most extensive employee survey in corporate America.
More than 81,000 employees from 353 companies responded to the 57-question
survey created by the Institute. Two-thirds of a company's score is based
on the survey, which is sent to a minimum of 400 randomly selected
employees. The remaining third is based on a company's responses to the
Culture Audit questionnaire, which asks detailed questions about
demographics, pay and benefits, as well as open-ended questions on
philosophy, communication and more.
This year marks Umpqua Bank's third consecutive year to make FORTUNE's "100
Best Companies to Work For" list. Key contributors for this recognition
cited in the Institute's survey include: Umpqua Bank's
Connect Volunteer Network, which offers all associates up to 40 hours
of paid time off to volunteer; and its unique store locations which
resemble Internet cafés.
Any company that is at least seven years old with more the 1,000 U.S.
employees is eligible to be included on the list. The deadline for applying
for next year's list is March 31, 2009. For an online nomination form, go
FORTUNE is a global leader in
business journalism with a worldwide circulation of more than 1 million and
a readership of nearly 5 million, with major franchises including the
FORTUNE 500 and the FORTUNE 100 Best Companies to Work For. FORTUNE Live
Media extends the brand's mission into live settings, hosting a wide range
of annual conferences, including the FORTUNE Global Forum. FORTUNE
magazine's online home is CNNMoney.com, the most visited and utilized
business destination website.
About Umpqua Bank
Umpqua Bank, headquartered in
Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ) and has 150 locations between Napa, Calif. and Bellevue, Wash., along
the Oregon and Northern California Coast 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, recognized for the second year in a row, ranked 13th on
Fortune Magazine's 2008 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
Lani HaywardUmpqua Bank