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15-401: The company’s main operating segments are personal banking and lending, business banking and lending, and wealth management. The bank serves consumers and businesses in the community. As of 2015, Umpqua Bank had $ 24 billion in assets and $ 18 billion in deposits and was ranked among the largest 60 banks in the nation . Its parent company, Umpqua Holdings, is publicly traded. As of 2016, Umpqua Bank

30-788: A $ 1.6 million fee to terminate the deal. Umpqua had been expanding into the San Francisco Bay Area and closed a $ 24.9 million deal to buy Bay Area-based Circle Bancorp in November 2012. In September 2013, Umpqua announced it would buy Sterling Financial Corporation, parent of Sterling Bank , the second largest bank in Washington . The $ 2 billion deal closed in April 2014 and increased the number of bank branches to 394 and increased assets to $ 22 billion. Former CEO and President of Umpqua Holdings Corporation Raymond Davis took over

45-539: A common misconception known as the "bank analogy". Unlike commercial banks, central banks are not primarily focused on generating profits and cannot become insolvent in the same way as commercial banks in a fiat currency system. The name bank derives from the Italian word banco 'desk/bench', used during the Italian Renaissance era by Florentine bankers, who used to carry out their transactions on

60-680: A desk covered by a green tablecloth. However, traces of banking activity can be found even in ancient times. In the United States, the term commercial bank was often used to distinguish it from an investment bank due to differences in bank regulation. After the Great Depression , through the Glass–Steagall Act , the U.S. Congress required that commercial banks only engage in banking activities, whereas investment banks were limited to capital market activities. This separation

75-495: Is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit . It can also refer to a bank or a division of a larger bank that deals with corporations or large or middle-sized businesses, to differentiate from retail banks and investment banks . Commercial banks include private sector banks and public sector banks. However, central banks function differently from commercial banks, despite

90-1027: Is also shown. In the first quarter of 2024, there were 4,012 commercial banks and 556 savings and loan associations in the U.S. insured by the Federal Deposit Insurance Corporation (FDIC) with US$ 23.957 trillion in assets . The list excludes the following three banks listed amongst the 100 largest by the Federal Reserve but not the Federal Financial Institutions Examination Council because they are not holding companies: Zions Bancorporation ($ 87 billion in assets), Cadence Bank ($ 48 billion in assets) and Bank OZK ($ 36 billion in assets).   United States banking corporations owned by foreign banking corporations   Defunct or acquired after March 31, 2024 Commercial banks A commercial bank

105-574: The bank's board and continued to oversee Pivotus Ventures Inc. until his formal retirement, which was announced In late December 2017 and effective January 2, 2018. List of largest banks in the United States The following table lists the 100 largest bank holding companies in the United States ranked by total assets of June 30, 2024 per the Federal Financial Institutions Examination Council ; their market capitalization

120-503: The banking operations of Rainier Pacific Bank in a purchase agreement with the Federal Deposit Insurance Corporation. Umpqua continued with acquisitions in 2012 when they attempted to buy California-based American Perspective Bank for $ 44.7 million, which would have added two branches to Umpqua's then 196 branches. The deal fell through, however, when Umpqua was outbid; American Perspective paid Umpqua

135-519: The borrower. Instead, they open a deposit account from which the borrower can withdraw. In other words, while sanctioning a loan, they automatically create deposits. Regulations In most countries, commercial banks are heavily regulated and this is typically done by a country's central bank . They will impose a number of conditions on the banks that they regulate such as keeping bank reserves and to maintain minimum capital requirements . They also require some capital Commercial banks generally provide

150-591: The deposits of Seattle, Washington-based Evergreen Bank in January 2010 after the latter was closed by the Washington Department of Financial Institutions and the Federal Deposit Insurance Corporation (FDIC) was appointed receiver. A month later the company agreed to take over the deposits of Tacoma, Washington-based Rainier Pacific Bank after it was seized by the FDIC. The next month, Umpqua acquired

165-585: The first commercial account for their South Umpqua Trucking Company. In 2002, Umpqua increased its number of branches to 63 by acquiring Centennial Bancorp of Eugene, Oregon, for $ 214 million. On January 16, 2009, Umpqua agreed to assume the deposits of Vancouver, Washington-based Bank of Clark County after the latter bank was seized by the Office of the Comptroller of the Currency . Umpqua agreed to assume

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180-429: The local 40-person South Umpqua Bank in 1994. Davis became CEO and President of Umpqua Holdings in 1999. In 2007, Davis authored a book titled Leading for Growth: How Umpqua Bank Got Cool and Created a Culture of Greatness . Cort O’Haver became President in April 2016, with Davis retaining the role of CEO. Davis stepped down as CEO in January 2017. O’Haver took over as CEO at that point while Davis became executive chair of

195-476: Was formed in 1953, in Canyonville, Oregon , with six employees. It was started by a group of people working in the timber business who wanted to create a means for the employees to cash their payroll checks. The bank opened with capital of $ 50,000 and surplus and reserves of $ 25,000. The bank’s first savings account was opened by Pete Duchene, a local business agent. D.B. “Tex” Ritter and his wife Nadine opened

210-471: Was mostly repealed in 1999 by the Gramm–Leach–Bliley Act . The general role of commercial banks is to provide financial services to the general public and business, ensuring economic and social stability and sustainable growth of the economy. In this respect, credit creation is the most significant function of commercial banks. While sanctioning a loan to a customer, they do not provide cash to

225-620: Was the largest Oregon-based bank and had 350 branches in Oregon, Washington, California, Nevada and Idaho. In October 2021, Umpqua announced it was merging with Tacoma-based Columbia Bank. Columbia Bank branches would transition to the Umpqua name and branding. The combined company would be based in Tacoma, with the bank operational headquarters based in the Portland area. South Umpqua State Bank

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