• Umpqua Holdings Corporation
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  • FORTUNE Includes Umpqua Bank on the 2009 "100 Best Companies to Work For" List
    Umpqua Bank Ranked 34th; Only Oregon Company to Make the List 
    Company Release - 01/22/2009 13:42

    PORTLAND, OR -- (MARKET WIRE) -- 01/22/09 -- FORTUNE 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 hiring.

    "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 to www.greatplacetowork-100best.com.

    About FORTUNE

    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 http://www.umpquabank.com/.

    Media contacts:
    Lani HaywardUmpqua Bank
    503-727-4132
    LaniHayward@umpquabank.comShannon Riggs
    LANE PR
    503-546-7885
    Shannon@lanepr.com