Sep 18 2013
|RANDY STAPILUS / Oregon|
Roseburg, Oregon, called by one Ridenbaugh Press writer (who lives there) “our little village in the woods,” would seem to be an unlikely locus for a regional financial powerhouse.
And yet here we are. Umpqua Bank, which (surely with some amusement) calls its “The World’s Greatest Bank,” is becoming one of the Northwest’s largest. It already is the largest bank based in Oregon, and with the acquisition of Sterling Bank of Spokane is poised to become the largest or second-largest locally-owned bank in the Northwest.
It may do well to remember how it got there.
If it sloganeers its greatness, it seems to have remembered in recent years that it stayed standing, and prospered, while others faltered, in large part because it stuck to the knitting. By many accounts, including a number of regional best-of lists, it is widely considered one of the best places to bank and even one of the best places to work. (A note: We have no connection to Umpqua.)
Umpqua has grown steadily over the years, and now seems to be taking major leaps. It recently opened a store in downtown San Francisco – was that a purely business-based decision or was there some ego in it? – and now prepares to absorb Sterling, which has many branches, many in small towns, around the Northwest. The combination will include some but not massive overlap; the end result will great extend Umpqua’s reach.
Already a substantial regional player, it is about to get much bigger and move onto a new level. Now a new challenge will emerge: Will it be able to hand on to the positive qualities that got it to this point? It’s a point at which many businesses stumble.
Perhaps Umpqua can learn from their lessons. It can be calm and contemplative in Roseburg.Share on Facebook