PORTLAND, Ore.--(BUSINESS WIRE)--
Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ),
introduces several loan initiatives for individuals and businesses in
the communities it serves. These new loan initiatives are meant to
support community growth and stimulate local economies by augmenting
Umpqua's full range of existing loan products and programs.
These new loan initiatives are supported, in part, by the capital
generated from Umpqua Holdings Corporation's sale of $214 million of
preferred stock in November 2008 to the U.S. Department of the Treasury.
This exchange, which was through the Treasury's Capital Purchase
Program, placed capital into the country's healthiest banks to stimulate
lending to qualified businesses, individuals and communities.
"We were pleased to be identified by the Treasury as one of the nation's
strongest, healthiest community banks," said Ray Davis, president and
CEO of Umpqua Holdings Corporation. "With this investment comes great
responsibility. As a community bank we have carefully evaluated ways to
increase our lending activity, which is not only the backbone of our
business, but is critical in supporting growth and economic development
within the communities we serve."
About Umpqua's Lending Initiatives
In 2008, Umpqua's consumer, mortgage, small business and commercial loan
production was $2 billion. To augment its existing production and loan
programs, Umpqua has developed the following initiatives:
-- Municipalities: Tailored financing to help city, county and state
entities meet infrastructure and operational needs.
-- Environmental: Umpqua has created GreenStreet Lending, a residential and
small business lending program to provide affordable financing for
consumers and businesses making energy efficient or alternative energy
improvements. Umpqua's eco-banking division will also work with larger
companies to explore opportunities to decrease their carbon footprint by
making sustainable improvements.
-- Wine Industry: Umpqua has created a dedicated wine-industry lending team
in the Napa Valley region to provide targeted commercial funding for
wineries and vineyards, and is now expanding this focus to Oregon and
Washington where the wine industry is playing a growing role in the
-- Mortgage Lending: Umpqua is offering mortgage loan programs to customers
for purchasing condos in Umpqua Bank-owned developments. There are more
than 15 developments in Oregon, Washington and California that qualify.
In addition to first time home buyer and other mortgage lending
products, Umpqua is providing funds to qualified homebuyers seeking
residential mortgages in excess of agency guidelines.
Umpqua continues to make its portfolio of loan products available to
qualified commercial, small business, consumer and mortgage borrowers in
each of the markets that the bank serves, from Western Washington
through Oregon and Northern California. Loans can be applied for at any
Umpqua Bank store location and by calling 866-486-7782.
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 third year in a row, ranked 34th on Fortune
Magazine's 2009 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.Umpqua Bank is
an Equal Housing Lender. For more information, visit http://www.umpquabank.com/.
Source: Umpqua Bank