Newspaper advertisements throughout the West Coast trumpeted this year, “Mighty oaks from little acorns grow.” It was Umpqua Bank’s way of celebrating its 60th anniversary.
The bank opened in Canyonville, Ore., with $75,000 and six employees in 1953. Timber industry leaders created the bank to help employees cash their payroll checks and secure their savings. By 2013, the bank had expanded to 200 branches in Oregon, Washington, California and Nevada
In his book titled “Leading for Growth,” Chief Executive Officer Ray Davis credited the bank’s growth on staffing policies and community outreach.
The bank trains its employees in multiple areas, and pays them to volunteer 40 hours a year, which will add up in 2013 to 250,000 hours of community service for youth programs, education and neighborhood development.
The bank focuses on energy efficiency through Energy Trust of Oregon for home owners and has an eco-banking division for large companies that seek to reduce their carbon footprints.
In some neighborhoods, the bank offers a place that blends features of a bank, library, and discussion center to refine ideas attractive to investors.
Sources: "Our Line in History." Umpqua Bank. N.p., 2013. Web. 16 Nov. 2013. Davis, Ray. Leading for Growth, How Umpqua Bank Got Cool and Created a Culture of Greatness. 2007
