Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ), continues to advance its Bay Area expansion with plans for a new flagship store in San Francisco’s financial district. The announcement follows Umpqua’s recent acquisition of Bay Area-based Circle Bank last month and planned flagship location in San Jose, adding significantly to the company’s presence in the greater Bay Area.
“San Francisco is an incredibly vibrant market, both economically and in terms of the innovation and companies it fosters,” said Ray Davis, president and CEO for Umpqua Bank. “We have long recognized the potential for Umpqua’s unique brand and approach to banking in the Bay Area and look forward to introducing the next evolution of our retail concept and customer experience here.”
Dubbed “Starbucks with tellers” by the New York Times, Umpqua Bank is recognized nationally and internationally for pioneering the concept of bank branch as retail store. Its locations are inviting spaces designed as both financial hubs and communal gathering spaces for consumers and businesses. Staffed with Ritz Carlton-trained associates focused on providing an unparalleled customer experience, Umpqua’s stores encourage visitors to read the paper, enjoy a cup of coffee, host a meeting and surf the web.
Umpqua’s San Francisco location will be an evolution of the company’s signature store concept, introducing new customer experience design elements and interactive technology to engage community and foster business growth and investment. The store will also serve as a flexible event space available to consumers, nonprofits and businesses.Umpqua has signed a lease for a 3,600-square-foot space located at 450 Sansome St. in San Francisco’s financial district and expects to open its doors during the second quarter of 2013. The store will provide full service retail, private and commercial banking. About Umpqua Bank Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation with locations between San Francisco and Seattle, along the Oregon and Northern California Coast, and in Central Oregon and Northern Nevada. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for the past six years in a row on FORTUNE magazine’s list of the country’s “100 Best Companies to Work For.” Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon. Umpqua’s Wealth Management Division serves high net worth individuals and nonprofits by providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com.